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Agnico Eagle Mines (TSX,NYSE:AEM) announced its third quarter results for 2018, which saw production guidance increase for 2018 and 2019.
Agnico Eagle Mines (TSX,NYSE:AEM) announced its third quarter results for 2018, which saw production guidance increase for 2018 and 2019.
Highlights are as follows:
Strong quarterly production with stable cost performance continues
Production guidance increased for 2018 and 2019
Meliadine project on budget and slightly ahead of schedule
Amaruq project continues to advance on schedule and on budget for 2018
Drilling at Amaruq continues to expand known mineralized zones at depth, further highlighting the potential for underground mining
A quarterly dividend of $0.11 per share was declared
Sean Boyd, Agnico Eagle CEO, commented:
“On the back of another strong operational quarter, we have once again increased our 2018 production guidance. We now expect to produce approximately 1.60 million ounces, up from our previous forecast of 1.58 million ounces that was announced last quarter. Total cash costs and AISC are expected to be at or slightly below the mid-point of our guidance range.”