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| February 18, 2010 --- Vol. 04, No. 07 | February 2010
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Nunavut
GOLD – Agnico-Eagle Mines Ltd. Feb. 17 reported profits of C$47.9 million, or C31 cents per share, for the fourth quarter of 2009. This result includes a non-cash foreign currency translation loss of C$7.8 million, or C5 cents per share, stock option expense of C$6.3 million, or C4 cents per share, and a gain on sale of investments of C$3.7 million, or C2 cents per share. That compares with profits of C$21.9 million, or C15 cents per share, for the fourth quarter of 2008. Cash provided by operating activities in the final quarter of 2009 rose to C$53.7 million from cash used by operating activities of C$46.4 million in the fourth quarter of 2008, primarily due to 83 percent higher gold production and significantly higher metal prices. “Earnings and cash flow increased significantly this quarter on the back of record quarterly gold production as five mines are now contributing to the company’s gold production base,” said Vice-Chairman and CEO Sean Boyd. “In addition, with the start of our new Meadowbank mine this quarter, and our record gold reserve base, we are well-positioned to continue to increase our gold production and grow earnings and cash flow per share,” he added.
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