Agnico Eagle Mines Ltd. - AEM STOCK NEWS

Agnico Eagle Mines has released an updated life of mine plan (2024 LOMP) and a preliminary economic assessment (2024 PEA) for its Detour Lake mine in Ontario, projecting an increase in annual gold production to one million ounces starting in 2030. This plan includes concurrent operations of open pit and a proposed underground mining project. The underground project and mill optimization could extend the mine's life to 2054, with significant exploration potential for further resource additions. Development capital expenditures are estimated at $731 million, with sustaining capital expenditures at $631 million. The projected after-tax IRR is 18% at a gold price of $1,900 per ounce, increasing to 25% at current prices of $2,300 per ounce. The company plans to invest $100 million over the next three years to further study and de-risk the underground project.

Capella Minerals and JV partner Austral Gold have entered into a Share Purchase Agreement with Unico Silver to sell their 100% interest in Sierra Blanca S.A., which owns the Sierra Blanca gold-silver project in Argentina. Capella and Austral own 45.31% and 54.69% stakes, respectively. Unico will acquire the project for 5,000,000 ordinary shares. This transaction aligns with Capella's strategy to focus on Scandinavian assets and divest non-core assets in the Americas. The deal is subject to regulatory approvals from the ASX and TSXV exchanges and requires Unico to get shareholder approval. Part of the consideration will be transferred to Sandstorm Gold to settle outstanding maintenance payments.

THE Mining Investment Event of the North, Quebec City is set to take place on June 4-6, 2024, and will feature notable speakers and sponsors from the mining industry. Jennifer Knight, Deputy Assistant Secretary for Textiles, will be a Keynote Speaker, along with other prominent figures. The event will host over 100 mining companies, including Agnico Eagle Mines (AEM), and provide a platform for networking and showcasing the latest developments in the sector.

Agnico Eagle Mines announced the renewal of its normal course issuer bid (NCIB), allowing the purchase and cancellation of up to 24,961,914 common shares or $500,000,000 worth of shares. Daily purchases are to 339,107 shares, with the bid ending on May 3, 2025. The NCIB will be funded using existing cash resources and will be conducted on the TSX and NYSE. Agnico Eagle aims to generate value for shareholders through this program.

Agnico Eagle Mines (NYSE: AEM) announced the election of directors at its annual and special meeting of shareholders. All eleven candidates listed in the management information circular were duly elected. The detailed results of the vote show high percentages of votes for each candidate, demonstrating strong shareholder support.

Agnico Eagle Mines (AEM) reported strong first-quarter 2024 results with record quarterly gold production and cost performance driving record quarterly free cash flow. The company achieved 878,652 ounces of payable gold production at production costs per ounce of $892, total cash costs per ounce of $901, and all-in sustaining costs (AISC) per ounce of $1,190. Quarterly net income was $347.2 million or $0.70 per share, with adjusted net income of $377.5 million or $0.76 per share. The company increased its cash position by $186 million, reduced net debt, and had an upgraded issuer rating to Baa1 from Moody's. Agnico Eagle reaffirmed its 2024 gold production guidance of 3.35 to 3.55 million ounces with total cash costs per ounce and AISC per ounce remaining unchanged. The company also provided updates on key value drivers and pipeline projects, including positive exploration results at Odyssey mine, continued mill improvement at Detour Lake, and strong drilling results at Hope Bay. The 2023 Sustainability Report highlighted the company's commitment to ESG performance, safety, and climate resilience. Shareholder returns were emphasized with a declared quarterly dividend of $0.40 per share and common share repurchases. The company will host a conference call on April 26, 2024, to discuss the results, along with its Annual and Special Meeting of Shareholders on the same day.

Capella Minerals extends the long-stop date for asset sale agreement with Polar Transition Minerals AS, allowing for an IPO on Euronext Growth. The revised terms include an extension to July 7, 2024, and a minor adjustment in consideration received from Polar.

Capella Minerals announces Property Acquisition Agreement with Prospector Metals Corp. for Savant Gold Project. Prospector to acquire 100% interest in the project, with Capella retaining a 1% Net Smelter Royalty. Eric Roth, Capella's President, highlights the strategic move to focus on Scandinavian projects.

Agnico Eagle Mines (AEM) announced the release of its first quarter 2024 results on April 25, 2024, followed by the Annual and Special Meeting of Shareholders on April 26, 2024. The Company will host a conference call on April 26, 2024, to discuss financial and operating results, with various participation options available. The AGM will be held in a hybrid format, allowing both in-person and online participation.