Where would AEM be trading today? Without beeing kept a float by pending merger with KL , with increased costs and lower cash availble for remaining Capex, they badly need KL's Cash. hence the $450MM break fee. The actual reported net earnings was $0.47/sh before "adjustment"
11:30 AM EDT, 10/28/2021 (MT Newswires) -- RBC Capital Markets reiterated its outperform rating on the shares of Agnico Eagle Mines (AEM.TO) with a US$63.00 target prices despite third-quarter results that came in shy of the investment bank's expectations.
"Production of 542koz was largely in line (+1% RBCe, +2% cons) while AISC of $1,059/oz were slightly higher (+5% RBCe, +4% cons), impacted by performance in Nunavut," the investment bank noted. "As compared to prior disclosures in 2Q that inflationary pressures were gradual, the company now notes these pressures have increased. To combat this, inventory repurchasing was accelerated in 3Q for AEM's remote Nunavut operations, resulting in substantially lower FCF. AEM reiterated 2021 guidance, while project updates were broadly in line. The largest focus item for AEM remains its pending merger with KL; the circular is scheduled to be mailed on Nov. 3 and shareholder votes are scheduled for Nov. 26 ... Costs were higher, with total cash costs $784/oz and AISC $1,059/oz, both +5% vs. RBCe and +4% vs. cons. Adjusted EPS was a reported $0.60, below RBCe $0.68 and cons $0.66 due to higher operating costs."
So do shareholders of KL feel like they are beeing taken advantage of?
About the voting, do AEM's management and shareholders feel Lucky? well do they?