Agoracom: Small Cap Investment - Agnico Eagle Mines - Agnico Eagle Mines posts more than four-fold jump in profit

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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Agnico Eagle Mines posts more than four-fold jump in profit

posted on Oct 23, 2019 10:47PM

2019-10-23 05:15:51 PM ET (Reuters)

Oct 23 (Reuters) - Canadian gold miner Agnico Eagle Mines Ltd reported a more than four-fold increase in quarterly profit on Wednesday, helped by higher realized gold prices and gold sales volumes at its Meliadine mine in Canada.

Net income rose to $76.7 million, or 32 cents per share, in the third quarter ended Sept. 30, from $17.1 million, or 7 cents per share, a year earlier.

Agnico recorded payable gold production of 476,937 ounces compared with 421,718 ounces last year. (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kube

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