BRIEF-Agnico Eagle Provides Further Update On Quebec And Nunavut Operations

Agnico Eagle: 3 mines operating & 3 new gold mines soon.

Gold production to double to 590,000 ounces in 2009, double again to 1.2 million ounces in 2010.

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BRIEF-Agnico Eagle Provides Further Update On Quebec And Nunavut Operations

posted on Mar 24, 2020 08:39PM

2020-03-24 08:01:53 PM ET (Reuters)

Agnico Eagle Mines Ltd:

* AGNICO EAGLE PROVIDES FURTHER UPDATE ON QUEBEC AND NUNAVUT OPERATIONS

* AGNICO EAGLE MINES- HELD TALKS WITH GOVERNMENT OF QUEBEC TO GET MORE CLARITY ON ORDER BY GOVERNMENT OF QUEBEC TO CLOSE ALL NON-ESSENTIAL BUSINESSES

* PURSUANT TO ORDER, MINING OPERATIONS WERE DIRECTED TO MINIMIZE THEIR ACTIVITIES UNTIL APRIL 13, 2020

* AGNICO EAGLE MINES- WILL TAKE STEPS TO RAMP DOWN OPERATIONS IN ABITIBI REGION OF QUEBEC

* WITHDRAWING ITS FULL YEAR 2020 PRODUCTION AND CASH COSTS GUIDANCE

* IN MARCH, 2020, COMPANY DREW DOWN US$1.0 BILLION ON ITS US$1.2 BILLION UNSECURED REVOLVING BANK CREDIT FACILITY

* AGNICO EAGLE MINES - CO WILL ALSO BE REVIEWING ITS 2020 SUSTAINING AND GROWTH CAPITAL BUDGET WITH FOCUS ON REDUCING EXPENDITURES

* AGNICO EAGLE MINES - PAYABLE GOLD PRODUCTION IN Q1 OF 2020 EXPECTED TO BE ABOUT 400,000 OUNCES Source text for Eikon: Further company coverage:

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