Agnico Eagle COVID-19 and Operations Update
Significant Margin Expansion Expected With Rising Gold Prices
Agnico Eagle - Strong Free Cash-Flow Margins
AGNICO EAGLE
45%
40%
35%
FCF Margins* (2021E) Sensitivity to Gold Price
30%
25%
20%
15%
10%
5%
11
$1,500
$1,750
$2,000
0%
Kirkland Lake
Gold
Agnico Eagle
Kinross Gold
Yamana Gold
Newmont
Barrick Gold
**
Peers Average**
Source: Scotiabank GBM estimates.
* FCF = attributable CFO (after interest) less attributable capex. FCF margin = FCF per oz divided by the gold price.
**Peers Average include Agnico Eagle, Anglo Gold Ashanti, Barrick Gold, Gold Fields, Kinross Gold, Kirkland Lake Gold, Newmont, Alamos Gold, B2Gold, Centerra Gold, Eldorado Gold, Endeavour Mining,
IAMGOLD, Yamana Gold.
CIBC 24th Annual Western Institutional Investor Conference | 10View entire presentation