Agnico Eagle Mines Ltd (NYSE:AEM)
$ 78.65 -0.36 (-0.46%) Market Cap: 39.47 Bil Enterprise Value: 40.11 Bil PE Ratio: 41.48 PB Ratio: 2.05 GF Score: 87/100

Q3 2019 Agnico Eagle Mines Ltd Earnings Call Transcript

Oct 24, 2019 / 03:00PM GMT
Release Date Price: $57.56 (+6.40%)
Operator

Good morning. My name is Emily, and I will be your conference operator today. At this time, I would like to welcome everyone to the Agnico Eagle Mines Limited Third Quarter 2019 Results Conference Call. (Operator Instructions) Thank you. Mr. Sean Boyd, you may begin your conference.

Sean Boyd
Agnico Eagle Mines Limited - Vice-Chairman & CEO

Thank you, operator, and good morning, everyone, and welcome to our third quarter 2019 conference call. This presentation does include forward-looking statements and does use non-GAAP measures and does give production guidance, so there's cautionary language in our slide deck that you can read at your leisure.

Talking about the quarter, where we expected to be. We expected to produce a record quarterly gold production, we did that, produced almost 477,000 ounces. We expected to generate free cash flow based on the fact that production was increasing and our capital spending was declining, we did that. We expected to reach commercial production at Amaruq, we achieved that. What we still need to work on is the

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