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Construction of Canadian Malartic underground approved, increasing life of mine gold production by ~6.9 million ounces Posted by PublisherInternet Wednesday, 17. February 2021
Osisko Gold Royalties Ltd (?Osisko? or the ?Corporation? – https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/) (OR: TSX & NYSE) is pleased to announce that the Canadian Malartic Partnership (the ?Partnership?), comprising Agnico Eagle Mines Limited (?Agnico?) and Yamana Gold Inc. (?Yamana?), have approved construction of the Odyssey underground project (?Odyssey?) at the Canadian Malartic mine (?Canadian Malartic?). ?
Royalty payments from underground production at Canadian Malartic beginning in 2023
Operator
Good morning, my name is Denise, and I ll be your conference operator today. At this time, I d like to welcome everyone to the Agnico Eagle s Fourth Quarter Results 2020 Conference Call. [Operator Instructions] Thank you. Mr. Sean Boyd, you may begin your conference.
Sean Boyd
Vice Chairman and Chief Executive Officer
Thank you, operator and good morning everyone and welcome to our fourth quarter and 2020 full-year results conference call. Before we get started with the slides, just want to remind everybody that this presentation does include forward-looking statements and we have that material in the slide deck.
Just to start off, in terms of how we closed the year and how we re positioned for moving forward over the next several years, we had a record quarter in terms of production which drove record cash flow. But more importantly, we posted our best ever safety performance. So although we re pushing more volumes than ever and we have more employees than ever, we
(1) production was 255,361 GEO
(1) including gold and silver production of 221,659 ounces and 2.59 million ounces, respectively. The strong gold production followed standout performances from Jacobina and Minera Florida, and silver production was underpinned by an exceptionally strong performance from El Peñón.
Full year GEO
(1) production of 901,155 GEO
(1), including 779,810 ounces of gold and 10.37 million ounces of silver, exceeded original guidance for the year of 890,000 GEO, and was within the plus or minus three per cent variance range of the Company s revised guidance. GEO
(1) production for the year at Jacobina, El Peñón, Canadian Malartic, and Minera Florida were all well above plan. The entire difference was attributable to further changes to COVID-19 restrictions imposed in Argentina near the end of the year which impacted production at Cerro Moro.
(1) production was 255,361 GEO
(1) including gold and silver production of 221,659 ounces and 2.59 million ounces, respectively. The strong gold production followed standout performances from Jacobina and Minera Florida, and silver production was underpinned by an exceptionally strong performance from El Peñón.
Full year GEO
(1) production of 901,155 GEO
(1), including 779,810 ounces of gold and 10.37 million ounces of silver, exceeded original guidance for the year of 890,000 GEO, and was within the plus or minus three per cent variance range of the Company’s revised guidance. GEO
(1) production for the year at Jacobina, El Peñón, Canadian Malartic, and Minera Florida were all well above plan. The entire difference was attributable to further changes to COVID-19 restrictions imposed in Argentina near the end of the year which impacted production at Cerro Moro.
Agnico Eagle Reports Fourth Quarter and Full Year 2020 Results
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(All amounts expressed in U.S. dollars unless otherwise noted)
RECORD QUARTERLY PRODUCTION; RECORD ANNUAL EARNINGS AND CASHFLOW; RECORD RESERVES; GOLD PRODUCTION FORECAST TO GROW 24% FROM 2020 THROUGH 2024; ODYSSEY PROJECT AND AMARUQ UNDERGROUND APPROVED FOR DEVELOPMENT
Stock Symbol: AEM (NYSE and TSX)
TORONTO, Feb. 11, 2021 /PRNewswire/ -
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ( Agnico Eagle or the Company ) today reported quarterly net income of $205.2 million, or net income of $0.85 per share, for the fourth quarter of 2020. This result includes non-cash mark-to-market gains on warrants of $29.3 million ($0.12 per share), foreign currency translation gains on deferred tax liabilities of $28.8 million ($0.12 per share), derivative gains on financial instruments of $21.7 million ($0.09 per share), losses on environmental remediation of $16.6 million ($0.07 per