Agnico Eagle's Quebec Operations Advancing Well – CIBC

Friday June 13, 2014 11:26 AM

After recently completing a mine tour of Agnico Eagle Mines Ltd.’s (TSX:AEM)(NYSE:AEM) Goldex and La Ronde mines in Quebec, Canadian bank CIBC says both operations are progressing well. Beginning with Goldex, CIBC says the operation’s ramp-up to full production is advancing well after its re-start in October 2013. “Throughput is expected to increase to by roughly 5,500 tons per day in the second half of 2014, and to approximately 6,000 tons per day in 2015, driving the gains in gold output,” they say. “Goldex is expected to produce 80,000 ounces of gold in 2014 and to average about 95,000 ounces of gold annually from 2015 through 2016.”