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Filed by Agnico-Eagle Mines Limited |
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Pursuant to Rule 165 and Rule 425 under |
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the United States Securities Act of 1933, as amended |
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Filing Company: Agnico-Eagle Mines Limied |
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Commission File No. 001-13422 |
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Date: June 2, 2005 |
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[GRAPHIC] |
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Agnico-Eagle Mine Limited |
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Annual General Meeting 2004 |
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Building from Strength |
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[LOGO] |
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Building from Strength |
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Forward Looking Statement |
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[LOGO] |
This presentation contains certain “forward-looking statements” (within the meaning of the United States Private Securities Litigation Reform Act of 1995) that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties are disclosed under the heading “Risk Factors” in the Company’s Annual Information Form (AIF) filed with certain Canadian securities regulators (including the Ontario and Quebec Securities Commissions) and with the United States Securities and Exchange Commission (as Form 20-F). Reconciliation of certain financial measures to their closest GAAP measure and technical information regarding mineral reserve and resource estimates are also provided in the AIF and Form 20-F.
2004 Results
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Gold (ounces) |
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271,567 |
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Silver (ounces in thousands) |
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5,699 |
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Zinc (pounds in thousands) |
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167,282 |
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Copper (pounds in thousands) |
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22,816 |
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Minesite costs per ton (C$) |
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$ |
48 |
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Total cash costs ($/oz) |
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$ |
56 |
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[GRAPHIC]
Q1 2005 Operating Results
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Gold (ounces) |
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55,310 |
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Silver (ounces in thousands) |
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1,097 |
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Zinc (pounds in thousands) |
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41,141 |
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Copper (pounds in thousands) |
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3,989 |
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Minesite costs per ton (C$) |
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$ |
48 |
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Total cash costs ($/oz) |
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$ |
67 |
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[GRAPHIC]
Q1 2005 Financial Results
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Earnings (millions) |
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$ |
10.4 |
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Earnings per share |
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$ |
0.12 |
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Cash flow from operating activities (millions) |
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$ |
28.1 |
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Cash & equivalents March 31 2005 (millions) |
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$ |
117.1 |
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[GRAPHIC]
2005 Forecast
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Assumptions |
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(US$) |
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Gold ($/oz) |
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$ |
375 |
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Silver ($/oz) |
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$ |
6.00 |
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Zinc ($/lb) |
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$ |
0.45 |
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Copper ($/lb) |
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$ |
1.15 |
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US$/ C$ |
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$ |
1.27 |
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Breakdown |
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Tons |
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2,911,000 |
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Tons per Day |
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7,975 |
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Payable Production: |
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Au (ounces) |
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270,000 |
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Ag (ounces in thousands) |
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5,500 |
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Cu (pounds in thousands) |
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18,000 |
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Zn (pounds in thousands) |
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160,000 |
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Minesite costs / ton (C$) |
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$ |
48-$50 |
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Total cash costs / oz (US$) |
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$ |
135-$145 |
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[GRAPHIC]
Building a Multi-Mine Platform
[LOGO]
Regional Projects
Northwestern Quebec
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Pro-mining environment |
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Favourable geology |
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Excellent infrastructure |
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Large property position & database |
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Low discovery costs /oz |
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LaRonde |
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$ |
3 |
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Lapa |
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$ |
7 |
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Goldex |
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$ |
20 |
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[GRAPHIC]
Goldex
Potential New Mine
• Bulk sample complete
• Probable reserve of 22.1 million tons at 0.07 oz/ton, or 1.6 million oz
• Permitting in progress
• Feasibility complete. Independent evaluation in progress, complete by June 2005
• Deposit open at depth
[GRAPHIC]
Lapa
Potential New Mine
• Probable reserve: 1.2 million oz
• Indicated resource of 0.8 million tons at 0.16 oz/ton, or 0.13 million oz
• Inferred resource of 1.9 million tons at 0.22 oz/ton, or 0.41 million oz
• $30 million shaft sinking, underground program initiated – Phase 1
• additional $80 million to reach full production – Phase 2
• Potential production of 1,500 tpd and 125,000 ounces per annum at total cash costs below $200/oz
[GRAPHIC]
LaRonde II
Zone 20 North
Higher Metal Values
• Higher NSR values at depth in polymetallic envelope
• Continuing resource conversion
• Higher gold grade core confirmed
• Pre-feasibility expected in third quarter 2005
[GRAPHIC]
Global Projects
A Growing Global Company
[GRAPHIC]
Riddarhyttan Resource AB (Finland)
• 6 drills in operation
• Phase II drilling – 83,300 ft planned
• Adjacent to major infrastructure
[GRAPHIC]
Pinos Altos (Mexico)
• Under option agreement with Penoles
• Indicated resource of 4.4 million tons at 0.18 oz/ton, or 0.8 million oz
• Inferred resource of 2.5 million tons at 0.18 oz/ton, or 0.4 million oz
• 2 drills in operation
Suurikuusikko Project - Northern Finland
Growing Gold Resource
• Shear hosted disseminated gold deposit
• Strike length: 2.6 miles
• Open at depth and along strike
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Gold |
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Tons |
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Ounces |
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oz/ton |
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(000’s) |
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(000’s) |
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Indicated Resource |
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0.164 |
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10,584 |
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1,740 |
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Inferred Resource |
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0.128 |
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8,377 |
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1,070 |
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[GRAPHIC]
Pinos Altos – Mexico
Santo Niño Structure
• Low sulphidation volcanic hosted epithermal gold deposit
• Thickness up to 150 feet
• Vertical extent at least 1,800 feet
• Strike length over 1.2 miles
• Open to the west and at depth
• 55,000 foot surface and underground drilling program underway
• Adjacent to major infrastructure
[GRAPHIC]
Summary
• LaRonde performing well
• Potential new mines at Goldex and Lapa by 2008
• Exciting opportunities at Suurikuusikko, Pinos Altos and LaRonde II
• Good track record of increasing reserves
[CHART]
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[GRAPHIC] |
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Agnico-Eagle Mine Limited |
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Annual General Meeting 2004 |
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Building from Strength |
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[LOGO] |