Agnico Eagle Mines to Suspend Mining Operations in Quebec and Nunavut Amid COVID-19 Pandemic

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.

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

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Agnico Eagle Mines to Suspend Mining Operations in Quebec and Nunavut Amid COVID-19 Pandemic

posted on Mar 25, 2020 07:19AM

2020-03-25 04:18:54 AM ET (MT Newswires)

04:18 AM EDT, 03/25/2020 (MT Newswires) -- Canadian gold miner Agnico Eagle Mines (AEM) said Tuesday that it will start ramping down its mining operations in the Abitibi region of Quebec and in Nunavut region following discussions with government authorities amid the COVID-19 pandemic.

The company's mining operations in Quebec will be placed on care and maintenance until April 13, while all exploration activities throughout Canada will also be suspended during this period.

Meanwhile, the company's Mexican and Finnish mines will continue to operate at normal levels.

Additionally, the company said it drew down $1 billion from its $1.2 billion unsecured revolving credit line as a cautionary measure, but noted that it has no current plans to use the funds, though it may repay a portion of its $360 million 6.67% series B notes due April 2020.

Price: 44.08, Change: +6.23, Percent Change: +16.46

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