Agnico Eagle Mines Ltd T.AEM

Alternate Symbol(s): AEM

Metals & Mining Gold

Agnico Eagle Mines Limited is a Canada-based gold mining company engaged in producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of exploration and development projects in these countries as well as in the United States. Its operations include Canadian Malartic Complex, Detour Lake, Fosterville, Goldex, Kittila, La India, LaRonde Complex, Macassa, Meadowbank Complex, Meliadine and Pinos Altos. Its exploration site includes Anza, Barsele, Delta, Douay/Joutel, Kirkland Lake Regional, Kuotko, Hope Bay/ Oro, Monument Bay and others. The Canadian Malartic Complex is located over 25 kilometers (km) west of Val-d’Or in northwestern Quebec, Canada. The Detour Lake operation is located in northeastern Ontario, over 300 km northeast of Timmins and 185 km by road northeast of Cochrane, within the northernmost Abitibi Greenstone Belt. The Fosterville mine is a high-grade, low-cost underground gold mine, located 20 km from the city of Bendigo.

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Agnico Eagle Mines Ltd

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Post by retiredcfon Sep 21, 2022 8:51am

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Post# 34975876

RBC

September 20, 2022

Agnico Eagle Mines Limited
Presentation highlights from the 2022 Gold Forum Americas

NYSE: AEM | USD 41.13 | Outperform | Price Target USD 65.00

Sentiment: Neutral

Event: Agnico Eagle President and CEO Ammar Al-Joundi presented at the Gold Forum Americas.

Key highlights:

Al-Joundi emphasized AEM's consistency in its strategy, which has been demonstrated over decades of history. The business has been built over various phases, from a historical single-asset producer, through acquisitions, high-growth development, regional consolidation, and now the merger with Kirkland Lake Gold. In upcoming years, the company's focus is the optimization of this new, larger portfolio, and concentration on four key opportunities, including Detour Lake's upside, Odyssey development, the Kirkland Lake regional hub, and Hope Bay exploration.
AEM emphasized the importance of per share value creation with its approach, rather than scale. More important that AEM's larger output today of 3.5moz, was that its production per share has tripled since 2005 and the dividend has increased 50x, in AEM's view providing good competition to gold. The company remains committed to its continued dividend policy, which has been in place since 1983. AEM sees its best returns by leveraging existing regions, namely Abitibi (incl. Nunavut), Mexico, Northern Europe, and Australia. Global standout regions for mining are Nevada (dominated by NEM and GOLD), Australia (which remains fractured), and the Abitibi (AEM's consolidation focus).
In Q&A, AEM's recent San Nicolas acquisition announcement was reviewed, where the company outlined (1) it was committed to maintaining a gold focus, (2) the project offered good grades of 2.0% CuEq and a payback of 2 years, (3) it was teamed up with an excellent partner, Teck, and (4) Zacatecas, Mexico is viewed positively for geological prospectivity.