Agnico Eagle Mines Ltd. - AEM STOCK NEWS

Agnico Eagle Mines (AEM) reported record gold production of 858,170 ounces for Q2 2022, resulting in net income of $275.8 million ($0.61/share). The merger with Kirkland Lake Gold significantly boosted output. Production costs per ounce were $766, while total cash costs and all-in sustaining costs stood at $726 and $1,026, respectively. The company reiterates 2022 guidance of 3.2-3.4 million ounces of payable gold production, but noted rising inflationary pressures. Corporate synergies post-merger exceeded expectations, projecting $225 million in savings over five years. Total capital expenditures for 2022 are expected at $1.4 billion.

Agnico Eagle Mines Limited (NYSE: AEM) announced it will release its Q2 2022 financial results on July 27, 2022, after trading hours. A conference call is scheduled for July 28, 2022, at 11:00 AM (E.D.T.) to discuss these results. Interested parties can join via telephone or through a live audio webcast on www.agnicoeagle.com. The call will also be available for replay until August 28, 2022. Agnico Eagle is recognized for its strong performance in gold mining across various countries and has a long history of delivering shareholder value.

Agnico Eagle Mines Limited (NYSE: AEM) has received an unsolicited mini-tender offer from TRC Capital Investment Corporation for up to 2 million shares at C$64.00 each, reflecting a discount of about 4.51% compared to market prices. Agnico Eagle advises shareholders not to tender their shares to this offer and highlights that it has no affiliation with TRC Capital. The mini-tender is under scrutiny due to potential investor confusion regarding the offer price and market value, as both the CSA and SEC have raised concerns about such offers.

Barsele Minerals Corp announced the initiation of diamond drilling on June 3rd, 2022, focused on Orogenic Gold and Volcanogenic Massive Sulphides in the Barsele Gold-VMS Project, Northern Sweden. The drilling program is budgeted for 3,000 metres (approximately 15 holes), targeting areas like Risberget, Avan, and Skiråsen. As part of the joint venture with Agnico Eagle (TSX: AEM), the project is progressing without cash outlay until a pre-feasibility study is completed. Agnico Eagle retains a 55% interest and can earn an additional 15% through project advances.

Agnico Eagle Mines Limited (NYSE: AEM) announced a subscription for 14,000,000 units of Cartier Resources Inc. (TSX-V: ECR) in a private placement priced at $0.13 per unit, totaling approximately $1,820,000. Upon closing, Agnico Eagle will own 49,292,536 common shares, representing about 17.70% of Cartier's shares. The company will also receive 7,000,000 warrants. An amended investor rights agreement will grant Agnico Eagle rights to participate in future equity financings and potentially nominate board members at Cartier.

Opawica Explorations Inc. has initiated a drilling program on the Arrowhead Property, following its prior announcement on April 21, 2022. The ambitious plan involves 5,000 meters of drilling across 20 targets, with promising historical data showing gold values up to 90.45 grams per tonne. The property is strategically located in the Abitibi gold belt, surrounded by Agnico Eagle Mines Ltd. Recent challenges include pending assay results due to lab delays. The CEO expressed optimism about funding for future drilling phases, contingent upon initial results.

Agnico Eagle Mines Limited (NYSE: AEM) announced approval from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) allowing the company to repurchase up to 5% of its common shares or shares worth up to $500 million over a year. The bid period commences on May 4, 2022, and runs until May 3, 2023. The repurchases will be executed under existing cash resources, and an automatic share purchase plan has been established to facilitate transactions during black-out periods. This strategy aims to enhance shareholder value amidst fluctuating market conditions.

Agnico Eagle Mines Limited (NYSE: AEM) held its annual and special meeting of shareholders on April 29, 2022, where all 12 nominated directors from the management information circular dated March 21, 2022, were elected. Detailed voting results showed high approval rates, with individual votes for nominees varying, but all receiving over 84% of the votes for. Agnico Eagle, a senior Canadian gold mining company, operates in Canada, Australia, Finland, and Mexico, and has a reputation for strong environmental, social, and governance practices.