Record Financial Results
Agnico Eagle Mines reported record revenue of $2.5 billion, record adjusted earnings of $770 million or $1.53 per share, and record adjusted EBITDA of $1.6 billion.
Gold Production and Cost Management
Gold production in Q1 was approximately 874,000 ounces with a total cash cost of $903 per ounce, below guidance, supported by higher grades and favorable currency exchange rates.
Strong Cash Flow and Debt Reduction
The company generated $594 million of free cash flow, significantly reducing net debt to nearly zero from $1.5 billion at the start of 2024.
Exploration Success
Excellent exploration results at Hope Bay and Detour, with strong drill results indicating potential resource expansion.
Operational Milestones
Major milestones achieved in several projects, including the commissioning of a temporary loading station at Canadian Malartic and progress on Detour and Upper Beaver projects.
Sustainability Achievements
Agnico Eagle published its 16th annual sustainability report, highlighting a GHG intensity of 0.38 tons of CO2 equivalent per ounce, well below the industry average.