Agnico Eagle COVID-19 and Operations Update
Abitibi Region
Production
Q3 YTD 2020
Production and
Highlights
Costs
AGNICO EAGLE
LaRonde Complex
244,184 ozs
at a production cost of
$658/oz and total
cash costs of $552/oz
Proven & probable
gold reserves:
LaRonde 2.9Moz
LZ5
0.7Moz
The LaRonde Complex operations were suspended from March 23, 2020 to April 17,2020 due to the COVID-19 pandemic. Mining
activities resumed on April 17, while the LaRonde mill circuit restarted on April 29 and the LZ5 mill circuit on May 2
Mining activities in the West mine area progressed ahead of schedule, contributing approximately 12% of the tonnage mined at the
LaRonde Complex in Q3 2020
Automation strategy supports gains in productivity in the West mine area. YTD, 54% of tonnes mucked relied on automated scoops
At LZ5, the production rate increased to 3,000 tpd from productivity gains from automation and it is expected to be sustained in Q4 2020
Mining activities at LZ5 have been extended to 480 metres starting in 2020. The Company is also evaluating the potential to develop
deeper portions of LZ5 (480 metres to 700 metres)
Exploration drilling in LaRonde 3's East mine area confirms and expands new high grade 20N Zinc South Zone by approximately 200
metres to the east
Canadian Malartic (50%)
179,016 ozs*
at a production cost of
$769/oz and total
cash costs of $756/oz
Proven & probable
gold reserves: 2.4Moz
•
Winner of the prestigious F.J. O'Connell Trophy from the Quebec Mining Association for excellence in health and safety performance in
the "surface, transportation and primary metal processing operations" category for 2019
Canadian Malarctic operations were suspended from March 23, 2020 to April 17, 2020 due to the COVID-19 pandemic
Mining activities at the Barnat deposit progressed ahead of plan and commercial production was declared on September 30, 2020
At the mill, two planned shutdowns were completed in Q3 2020. Despite the shutdowns, the daily throughput was significantly higher
compared to the prior-year period, and record monthly tonnage (2.0M tonnes) was milled in August
The Odyssey project exploration ramp portal was started in August 2020. The ramp development is expected to continue for - 2 years
Expanded drill program at East Gouldie Zone extends known mineralization and infills high grade core. The Partnership will prepare a
new mineral resource update for year-end 2020 and a PEA on the Odyssey project in early 2021
Goldex
88,033 ozs
at a production cost of
$659/oz and total
cash costs of $653/oz
Proven & probable
gold reserves: 1.1 Moz
Winner of the prestigious F.J. O'Connell trophy from the Quebec Mining Association for excellence in health and safety performance in
the category of "underground operations with over 400,000 hours worked" for 2019
Goldex operations were suspended from March 23, 2020 to April 17, 2020 due to the COVID-19 pandemic. Mining activities resumed on
April 17, while milling activities restarted on April 24, 2020
The underground Rail-Veyor maintenance facility was completed in Q2 2020. This facility is expected to have a positive impact on future
Rail-Veyor productivity and increase production from the lower mine to over 7,000 tpd
Challenges early in Q3 2020 impacted the mining sequence and resulted in lower mill head grades than forecasted
The mill performed well in August and September (highest daily average mill throughput in September at 8,373 tpd since restart of the
operation in 2013). With the strong mill performance and the return of higher grade stopes into the mining schedule, the Company
expects strong performance at Goldex in Q4 2020
* Includes pre-commercial production of 18,930 ozs at the Barnat deposit
See AEM February 13, 2020 press release and appendix for detailed breakdown of mineral reserves and mineral resources.
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