TORONTO, March 24, 2020 /PRNewswire/ - Agnico
Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico Eagle"
or the "Company") is providing an update following yesterday
afternoon's order by the Government of Quebec to close all non-essential businesses
relating to COVID-19. Pursuant to this order, mining
operations have been directed to minimize their activities until
April 13, 2020. The Company is
communicating with the Government of Quebec to ensure compliance with its order and
will discuss procedures at the Company's Quebec operations while having regard to the
health and safety of our employees and communities. Any
impact to operations or production guidance, which may include the
suspension of mining activities at the Company's operations in the
Abitibi region of Quebec (the
LaRonde Complex, the Goldex mine and the Canadian Malartic mine
(50%)) and moving to care and maintenance until April 13, 2020, will be provided to the market in
due course.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company that has
produced precious metals since 1957. Its operating mines are
located in Canada, Finland and Mexico, with exploration and development
activities in each of these countries as well as in the United States and Sweden. Agnico
Eagle and its shareholders have full exposure to gold prices due to
its long-standing policy of no forward gold sales. Agnico
Eagle has declared a cash dividend every year since 1983.
Forward-Looking Statements
The information in this news release has been prepared as at
March 24, 2020. Certain
statements in this news release, referred to herein as
"forward-looking statements", constitute "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" under the provisions of Canadian provincial securities
laws. When used in this news release, the words "expect",
"may", "plan", "will" and similar expressions are intended to
identify forward-looking statements.
Such statements include, without limitation: the Company's plans
with respect to mining activities and its operations in the Abitibi
region of Quebec; and other
statements regarding the impact of the COVID-19 pandemic on the
Company's operations and overall business.
Such statements reflect the Company's views as at the date of
this news release and are subject to certain risks, uncertainties
and assumptions, and undue reliance should not be placed on such
statements. Forward-looking statements are necessarily based
upon a number of factors and assumptions that, while considered
reasonable by Agnico Eagle as of the date of such statements, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. The material
factors and assumptions used in the preparation of the forward
looking statements contained herein, which may prove to be
incorrect, include, but are not limited to, the assumptions set
forth herein and in management's discussion and analysis
("MD&A") and the Company's Annual Information Form ("AIF") for
the year ended December 31, 2018
filed with Canadian securities regulators and that are included in
its Annual Report on Form 40-F for the year ended December 31, 2018 ("Form 40-F") filed with the
U.S. Securities and Exchange Commission (the "SEC") as well as:
uncertainties with respect to the extent and manner to which
COVID-19, and measures taken by governments, the Company or others
to attempt to reduce the spread of COVID-19, may affect the
Company, which could have an adverse impact on many aspects of the
Company's business including, employee health, workforce
productivity and availability (including the ability to transport
personnel to the Meadowbank Complex and Meliadine mine which
operate as fly-in/fly-out camps), travel restrictions, contractor
availability, supply availability, ability to sell or deliver gold
dore bars or concentrate, insurance premiums, and the ability to
procure inputs required for the Company's operations and projects;
and uncertainties with respect to the effect on the global economy
related to COVID-19, which could continue to negatively affect
financial markets, including the trading price of the Company's
shares and the price of gold, and could adversely affect the
Company's ability to raise capital.
For a more detailed discussion of such risks and other factors
that may affect the Company's ability to achieve the expectations
set forth in the forward-looking statements contained in this news
release, see the AIF and MD&A filed on SEDAR at www.sedar.com
and included in the Form 40-F filed on EDGAR at www.sec.gov, as
well as the Company's other filings with the Canadian securities
regulators and the SEC. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date made. Other than as required by law, the
Company does not intend, and does not assume any obligation, to
update these forward-looking statements.
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SOURCE Agnico Eagle Mines Limited