24 October 2018
Agnico Eagle Mines Limited reported quarterly net income of US$17.1 million, or $0.07 per share, for the third quarter of 2018.
This result includes non-cash foreign currency translation gains on deferred tax liabilities and non-recurring tax gains of $11.8 million ($0.05 per share) and non-cash foreign currency translation gains, mark-to-market adjustments and derivative gains on financial instruments of $4.1 million ($0.01 per share). Excluding these items would result in adjusted net income1 of $1.2 million or $0.01 per share for the third quarter of 2018. In the third quarter of 2017, the company reported net income of $72.5 million or $0.31 per share.
The full release which includes details on the following:
•Third quarter 2018 highlights & activities
•Meadowbank – strong third quarter performance
•Meadowbank mine - operating statistics
•Amaruq project – project continues to advance on schedule and on budget
•Exploration drilling continues to expand known mineralized zones at Amaruq
•Whale tail deposit conversion and deep exploration
•Vv zone - drilling outlines a potential new ore shoot at depth
•Meliadine project – boat sealift completed, construction activities are slightly ahead of schedule and on budget; potential to accelerate commencement of production