Day: October 25, 2023

“Agnico Eagle had another solid quarter with production and costs coming in as expected. The Canadian Malartic and Meadowbank complexes delivered strong results in the quarter, offsetting unscheduled mill downtime at Detour Lake and highlighting the benefit of our diverse portfolio of mines,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.

“With another strong quarterly performance, we are on pace for a record year both operationally and financially. Production of 135,400 ounces was above our quarterly guidance, putting us on track to set a new record for annual production. Given the strong year-to-date performance, we are raising our full year production guidance by 5% to a range of 515,000 to 530,000 ounces. With total cash costs and all-in sustaining costs below the mid-point of guidance in the quarter and year-to-date, we are also on track to achieve full year cost guidance,” said John A. McCluskey, President and Chief Executive Officer.

Ramp up of the Juanicipio plant continued to be the focus during the quarter with the plant reaching its target milling rate of 4,000 tonnes per day in September, marking a step change in performance relative to the comparative quarter and a successful transition to a fully independent producer.