Not sure this was priced in anyway.

Agnico to indefinitely suspend Quebec mine production

* Says to write off its investment in Goldex mine

* Write-off expected to be about $260 mln

* To make accounting provision for part of expected costs in Q3

Oct 19 (Reuters) - Agnico-Eagle Mines said it is indefinitely suspending mining operations and production at its Goldex mine in Val d'Or, Quebec, due to water inflow and ground instability.

The Toronto-based gold miner will write off its investment in Goldex, which is expected to be about $260 million, in the third quarter, the company said.

The company, which is trying to reduce the number of employees impacted by the stoppage of operations, expects to make an accounting provision in the third quarter for a part of the anticipated costs.

The remaining 1.6 million ounces of proven and probable gold reserves at Goldex, other than stockpiled ore, will be reclassified as mineral resources, the company said in a statement.

Agnico, which owns mines across Canada, Mexico and Finland, said it appears a weak volcanic rock unit in the hanging wall at the deposit had failed.

The rock failure is thought to extend from the top of the deposit to the surface, and as a result ground water had flowed into the mine.

http://af.reuters.com/article/metalsNews/idAFL3E7LJ1GZ20111019?pageNumber=1&virtualBrandChannel=0