Agnico-Eagle Q1 beats estimates, shares climb

Agnico-Eagle Mines last week reported first-quarter net earnings rose 73% to $78.5-million as gold production rose slightly to 254 955 oz, even though the comparable period benefited from output at the Goldex mine, which was shuttered in October....

Agnico-Eagle profit lifted by gold price

Canadian gold miner Agnico-Eagle Mines Ltd reported a 73% increase in its quarterly profit on Thursday, driven largely by gains in the price of bullion. Toronto-based Agnico, which has come through major operational setbacks at two mines in...

Canada's Nunavut awaits its day in the sun

The prospects of a mining boom in Canada's Arctic territory of Nunavut - once as bright as the Northern Lights - are fading fast as costs in the inhospitable region spiral higher, forcing writedowns on two major gold projects there. The sparsely...

Agnico-Eagle reports loss on mine writedown

Canadian gold miner Agnico-Eagle reported a quarterly loss late on Wednesday as a partial writedown of the value of its Meadowbank mine in the Canadian Arctic offset gains from a surge in the price of gold. The company also said its president and...

Agnico-Eagle in no hurry to do more acquisitions - CEO

It will take Toronto-based Agnico-Eagle six to nine months to understand the geological problems that prompted it to close its Goldex mine in Quebec this month, CEO Sean Boyd said in an interview. He added that, despite having written the...

Agnico-Eagle to buy junior Grayd for $275m

Canada’s Agnico-Eagle Mines has agreed to pay $275-million, or $2.80 a share, for Grayd Resource Corporation, which owns the La India gold project in Mexico, offering a 65.7% premium. TSX- and NYSE-listed Agnico-Eagle said on Monday Grayd...

Rubicon jumps on Agnico investment

Shares in Canadian junior Rubicon Minerals surged on Thursday morning after Agnico-Eagle Mines said after the close on Wednesday that it would buy a 9.2% stake in the company. Rubicon's main asset is the Phoenix deposit in the Red Lake region of...

Agnico expects big jump in H2 production

Gold production at Agnico-Eagle Mines' Meadowbank operation in Canada's Nunavut territory will be around 50% higher in the second half of this year compared with the first six months, the company said on Monday. Total group production will also...

Gold miners may need higher dividends to catch up with bullion - Agnico CEO

Gold producers probably need to look at higher dividends to attract investors and improve their market values, which have underperformed the record-breaking gold price, Agnico-Eagle Mines CEO Sean Boyd said on Friday. “I think what they have to...

Agnico-Eagle doubles Q1 profit

Canadian gold miner Agnico-Eagle Mines increased first-quarter net income by 103%, helped by surging bullion prices and a 34% increase in gold production. Toronto-based Agnico earned $45,3-million in the first three months of the year, compared...

Agnico sees temporary staff cut at Meadowbank after kitchen fire

Gold miner Agnico-Eagle Mines may have to temporarily reduce on-site staff at its remote Meadowbank mine in Nunavut after the kitchen facilities in the employee camp were damaged by a fire. The damage was “extensive” but the fire was...

High prices are a double-edged sword as costs rise too

Gold producers are pulling in record revenues and cash flow thanks to $1 300/oz-plus prices for the yellow metal, but the downside of the commodities boom is that pricier steel, oil, labour and other necessities are pushing up operating costs and...