Agnico Eagle Mines Ltd. - AEM STOCK NEWS

Agnico Eagle Mines and Kirkland Lake Gold have filed a joint management information circular regarding their merger scheduled for November 26, 2021. Under the agreement, Kirkland Lake shareholders will receive shares of Agnico Eagle at an exchange rate of 0.7935 for each Kirkland share. Upon completion, shareholders will own approximately 54% and 46% of the combined company, respectively. The merger aims to form a leading senior gold producer with reduced costs and enhanced gold production, forecasted at 3.4 million ounces in 2021. The combined company will leverage unique synergies to create significant shareholder value.

Agnico Eagle Mines Limited (NYSE: AEM) reported a third-quarter net income of $114.5 million, translating to $0.47 per share, down from $222.7 million ($0.92 per share) in Q3 2020. Adjusted net income was $145.4 million ($0.60 per share). Despite record gold production of 541,663 ounces, lower average metal prices and higher production costs affected overall profitability. The company confirmed its production guidance for 2021 at approximately 2,047,500 ounces. A merger with Kirkland Lake Gold is anticipated to unlock synergies and enhance shareholder value, pending shareholder approvals on November 26, 2021.

Agnico Eagle Mines Limited (NYSE: AEM) announced the release of its third quarter 2021 results scheduled for October 27, 2021, after market close. A conference call will take place on October 28, 2021, at 11:00 AM (E.D.T.) for management to discuss financial and operational outcomes. For those unable to join live, a replay will be accessible until November 28, 2021. Recognized for its environmental and governance practices, Agnico Eagle operates in Canada, Finland, and Mexico and has maintained a cash dividend since 1983.

Agnico Eagle Mines and Kirkland Lake Gold announced a merger agreement to form a leading gold producer under the name Agnico Eagle Mines Limited. This merger aims to create a company with $2.3 billion in liquidity and a mineral reserve of 48 million ounces of gold, significantly enhancing operational synergies and shareholder value. The combined entity will focus on sustainable growth, returning $1.6 billion to shareholders since 2020. Kirkland Lake shareholders will receive 0.7935 Agnico shares per Kirkland share, implying a market cap of $24 billion. The merger is expected to close by early 2022.

Agnico Eagle Mines Limited (NYSE: AEM) announced a private placement to acquire 13,333,333 units of Candelaria Mining Corp. (TSX-V: CAND) for approximately $6 million, priced at $0.45 per unit. This investment will increase Agnico Eagle's ownership in Candelaria from 7.8% to 15.94% on a non-diluted basis and 19.59% on a partially-diluted basis. Closing is expected on September 30, 2021. An investor rights agreement allows Agnico Eagle to maintain its ownership percentage and nominate board members at specific thresholds.

Agnico Eagle Mines Limited (AEM) reported a net income of $189.6 million ($0.78 per share) for Q2 2021, significantly up from $105.3 million ($0.44 per share) in Q2 2020. Adjusted net income was $167.7 million ($0.69 per share). Gold production reached 500,698 ounces excluding Hope Bay, with total cash costs of $739 per ounce. Operating cash flow surged to $406.9 million, bolstered by higher sales volumes and metal prices. The company maintained its 2021 production guidance at approximately 2,047,500 ounces and declared a quarterly dividend of $0.35 per share.

Agnico Eagle Mines Limited (AEM) has reported significant exploration progress across multiple projects in the first half of 2021, with a record exploration budget of $163 million, up from $113 million in 2020. Key results include high-grade intercepts at the Odyssey Underground Project (up to 8.9 g/t gold), Upper Beaver deposit (21.2 g/t gold), and Meliadine (22.6 g/t gold). The company continues to focus on mineral resource replacement and growth, aiming to expand existing reserves, with gold reserves totaling 24.1 million ounces at the end of 2020.

Agnico Eagle Mines Limited (NYSE: AEM) has announced the release of its second quarter 2021 financial results on July 28, 2021, after trading hours. A conference call will follow on July 29, 2021, at 11:00 AM (E.D.T.) to discuss these results. Interested parties can participate via a webcast on the company’s website or by telephone. A replay of the call will be available until August 29, 2021. Agnico Eagle is a senior Canadian gold mining company with operations in Canada, Finland, and Mexico, known for its strong environmental, social, and governance practices.

Agnico Eagle Mines Limited (NYSE: AEM) announced the results from its annual and special meeting of shareholders held on April 30, 2021. All ten nominees for director were elected, with voting percentages for each nominee exceeding 96%. Notable votes included Leona Aglukkaq (99.89% in favor) and Sean Boyd (99.54% in favor). Agnico Eagle, founded in 1957, operates gold mining activities in Canada, Finland, and Mexico, boasting a longstanding policy of no forward gold sales and a consistent cash dividend record since 1983.