Agnico Eagle Mines Limited · TSX:AEM
Agnico Eagle Mines — Q1 2023 Earnings Presentation
38 slides from Agnico Eagle Mines's earnings presentation, Apr 28, 2023
Slide 1: First Quarter 2023 Results
First Quarter 2023 Results April 28, 2023
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS The information in this presentation has been prepared as at April 27, 2023. Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-look
Slide 3: Notes to Investors
NOTES TO INVESTORS Note Regarding the Use of Non-GAAP Financial Measures This presentation discloses certain financial performance measures, including "total cash costs per ounce", "all-in sustaining costs per ounce", "minesite costs per tonne", "net debt", "adjusted net income", "adjusted net incom
Slide 4: Notes to Investors
NOTES TO INVESTORS Note Regarding the Use of Non-GAAP Financial Measures Minesite costs per tonne are calculated by adjusting production costs as recorded in the consolidated statements of income (loss) for inventory production costs, operational care and maintenance costs due to COVID-19, and other
Slide 5: First Quarter 2023 Highlights
First Quarter 2023 Highlights Strong quarterly production and costs with record safety performance Payable gold production was 813koz at production costs/oz of $804, total cash costs/oz of $832 and AISC/oz of $1,125. These results include only the Company's 50% of the production from the Canadia
Slide 6: First Quarter 2023 Highlights
First Quarter 2023 Highlights Continued exploration success at Meliadine, Kittila, LaRonde Zone 5 ("LZ5") and Goldex expected to drive future mineral reserve and mineral resource additions Building on Agnico Eagle’s strategy of consolidating positions in premier mining jurisdictions Acquired C
Slide 7: ESG Targets
BUSINESS BUILT ON INDUSTRY LEADING ESG PRACTICES Consistent with Regional Strategy to Build a High-Quality, Low Risk, Sustainable Business 2022 Sustainability Report Highlights ESG Targets Best safety performance in Agnico Eagle’s more than 65- year history Net-Zero Carbon by 2050 (Scope 1 and S
Slide 8: Update on Key Value Drivers
Update on Key Value Drivers Detour Lake • In Q1 2023, mill set a record for first quarter throughput and activities continued to focus on mill process optimization and improving availability with the goal of achieving, and potentially exceeding, throughput of 28.0 Mtpa Canadian Malartic Complex
Slide 9: Detour Lake – Working to Optimize the Production Profile
Detour Lake – Working to Optimize the Production Profile Mill Throughput Optimization Million Tonnes (Mt) by Year Mill Optimization Initiatives to get to 28Mtpa by 2025 30 Completed planned projects to increase mill throughput 27 up to 27.5Mtpa 24 Current focus to improve maintenance practices
Slide 10: Odyssey Mine – Update on Development and Exploration Activities
Odyssey Mine – Update on Development and Exploration Activities Odyssey mine continues to advance on schedule Odyssey South Underground Development Good underground development performance Portal Development has reached below Odyssey South ore FAR body and to the first shaft access point Shaft
Slide 11: Regional Projects and Infrastructure
Regional Projects and Infrastructure Potential future regional sources of ore include: Macassa Near Surface deposits and AK Zone (500-700tpd) Upper Beaver and other Kirkland Lake satellite deposits (+5,000tpd) Wasamac (+5,000tpd) Potential to add up to 500koz of annual production by 2030 F
Slide 12: Positive Minesite Exploration Expected to Drive Future Mineral Resource Growth
Positive Minesite Exploration Expected to Drive Future Mineral Resource Growth LZ5 – Drilling continues to expand the mineral resource envelope which now extends to a depth of 950 metres, with highlights including 3.0 g/t gold over 30.0 m and 3.7 g/t gold over 10.1 m. Inferred mineral resources ar
Slide 13: Meliadine – Q1 2023 Exploration Highlights
Meliadine – Q1 2023 Exploration Highlights Drilling targeted the vertical extensions of the mineralized zones in the central part of the Tiriganiaq and Wesmeg deposits At Tiriganiaq, a recent intercept yielded 17.2 g/t gold over 4.9 m At Wesmeg, drilling in the eastern part of the deposit cont
Slide 14: Kittila – Q1 2023 Exploration Highlights
Kittila – Q1 2023 Exploration Highlights Drilling has extended the Rimpi Main Zone to the north, outside of the current mineral resources, with highlights of up to 5.0 g/t gold over 9.2 m. Drilling has extended the Rimpi Zone mineralization down-plunge from the Roura area within the Parallel / S
Slide 15: Detour Lake – Drilling Continues to Infill and Expand Known Mineralization
Detour Lake – Drilling Continues to Infill and Expand Known Mineralization Q1 drilling was primarily focused on West pit conversion drilling and exploration drilling of various regional targets. 10 drill rigs were active and completed 5,839 m of expensed drilling and 59,374 m of capitalized drilli
Slide 16: Operating and Financial Results
Operating and Financial Results Strong Quarterly Production and Costs Q1 2023 Q1 2023 Total Operating Margin $857M Production Total Cash Costs Operating Margin (Gold oz) ($/oz) ($000’s) LaRonde Complex 79,607 $958 $69,811 Canadian Malartic (50%) 80,685 794 80,783 Goldex 34,023 810 40,228 Detour Lake
Slide 17: Strong Financial Position After Acquisition of Yamana's Canadian Assets
Strong Financial Position After Acquisition of Yamana’s Canadian Assets Focus on Capital Discipline and Returns to Shareholders Strong Available Liquidity - $0.95B* As of March 31, 2023, the Company had strong liquidity with $745M in cash and cash equivalents and $200M (excluding $200 $600M accord
Slide 18: Agnico Eagle's Vision
Agnico Eagle’s Vision Agnico Eagle has a simple, consistent, disciplined and proven approach to value creation Proven leadership with a track record of building per share value uarter Robust production profile from assets in premier jurisdictions Strong margins and cashflows. Maintaining a s
Slide 19: OZ20-—-HArPaAmvVoO
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Slide 20: LaRonde Complex
LARONDE COMPLEX Strong Underground Productivity Drives Solid Operational Performance in Q1 2023 Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz) (million oz) (koz) per ounce 3.2 1.2 1.7 80
Slide 21: Canadian Malartic
CANADIAN MALARTIC Underground Production Commences at Odyssey; Surface Construction Activities and Underground Development at Odyssey Continue to Progress Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resourc
Slide 22: Goldex
GOLDEX Strong Underground Development and Higher Grades Drives Solid Operational Results; Akasaba Project Progressing as Planned Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz)* resources (million oz)* (million
Slide 23: Detour Lake
DETOUR LAKE Achieves Best Ever Winter Mill Performance; Exploration Continues to Infill and Test Extensions to Known Mineralized Zones Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz) (mil
Slide 24: Macassa Complex
MACASSA COMPLEX Sixth Millionth Gold Ounce Poured; Strong Operational and Cost Performance From Continued Productivity Improvements; Commissioning Complete on Shaft #4 Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (millio
Slide 25: Meliadine
MELIADINE Solid Gold Production From Higher Open Pit Grades and Contribution from Amaruq Underground Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz) (million oz) (koz) per ounce 3.8 1.6 2
Slide 26: Meadowbank Complex
MEADOWBANK COMPLEX Solid Operational Results Driven By Higher Open Pit Grades and the Contribution from Amaruq Underground Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz) (million oz) (ko
Slide 27: Fosterville
FOSTERVILLE Solid Production in Q1 2023 With Four Millionth Gold Ounce Poured Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz) (million oz) (koz) per ounce 1.7 1.7 1.2 87 $396 • Production
Slide 28: Kittila
KITTILA Achieves Second Highest Quarterly Gold Production; Expansion Projects Progressing Well with Commissioning Underway on Several Fronts Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz
Slide 29: Pinos Altos
PINOS ALTOS Production and Development in Line with Plan; Exploration Testing the Area Between the Santo Nino and Oberon de Weber Deposits Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz)
Slide 30: La India
LA INDIA Production in Line with Targets; Work Underway to Reduce Cyanide Consumption and Improve Leach Kinetics Proven & probable gold Measured & indicated gold Inferred gold resource Q1 2023 Production Q1 2023 Total Cash Costs reserves (million oz) resources (million oz) (million oz) (koz) per oun
Slide 31: 2022 Gold Mineral Reserves and Mineral Resources
2022 GOLD MINERAL RESERVES AND MINERAL RESOURCES Gold Mineral Reserves Increase 9% to Record Levels, Measured and Indicated Resources Increase 12% Offset by Successful Conversion of 6.3 Moz to Mineral Reserves AGNICO EAGLE As of December 31, 2021* As of December 31, 2022 Category Tonnes Grade Contai
Slide 32: Mineral Reserves as of December 31, 2022
MINERAL RESERVES AS OF DECEMBER 31, 2022 OPERATION / PROJECT PROVEN PROBABLE PROVEN & PROBABLE GOLD Mining Method AEM Share 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au LaRonde¹ UG 100% 2,809 5.23 473 9,497 6.69 2,042 12,306 6.36 2,515 LaRonde Zone 52 UG 100% 4,904 2.08
Slide 33: Mineral Reserves as of December 31, 2022
MINERAL RESERVES AS OF DECEMBER 31, 2022 OPERATION / PROJECT PROVEN PROBABLE PROVEN & PROBABLE SILVER Mining Method AEM Share 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t 000 Oz Au LaRonde UG 100% 2,809 16.45 1,485 9,497 21.53 6,573 12,306 20.37 8,059 Pinos Altos OP 100% 2 7.06 —
Slide 34: Mineral Resources as of December 31, 2022
MINERAL RESOURCES AS OF DECEMBER 31, 2022 OPERATION / PROJECT MEASURED INDICATED MEASURED & INDICATED INFERRED AEM 000 000 000 000 000 000 000 GOLD Mining Method Share Tonnes g/t 000 Oz Au Tonnes g/t Oz Au Tonnes g/t Oz Au Tonnes g/t Oz Au LaRonde UG 100% — — 5,959 2.96 566 5,959 2.96 566 2,942 4.91
Slide 35: Mineral Resources as of December 31, 2022
MINERAL RESOURCES AS OF DECEMBER 31, 2022 OPERATION / PROJECT MEASURED INDICATED MEASURED & INDICATED INFERRED 000 000 000 000 000 GOLD Mining Method AEM Share 000 Tonnes g/t 000 Oz Au 000 Tonnes g/t Oz Au Tonnes g/t Oz Au Tonnes g/t Oz Au Pinos Altos OP 100% — — 2,801 0.92 83 2,801 0.92 83 482 1.23
Slide 36: Notes to Investor Regarding the Use of Mineral Resources
NOTES TO INVESTOR REGARDING THE USE OF MINERAL RESOURCES The mineral reserve and mineral resource estimates contained in this presentation have been prepared in accordance with the Canadian securities administrators' (the "CSA") National Instrument 43-101 – Standards of Disclosure for Mineral Projec
Slide 37: Notes to Investor Regarding the Use of Mineral Resources (Continued)
NOTES TO INVESTOR REGARDING THE USE OF MINERAL RESOURCES (CONTINUED) NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" a
Slide 38: agnicoeagle.com
Trading Symbol: AEM on TSX & NYSE Investor Relations: 416-947-1212 info@agnicoeagle.com agnicoeagle.com