Agnico-Eagle Mines Ltd. - AGE (U.S. AEM) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Agnico-Eagle Mines Ltd. - AGE (U.S. AEM)

AEM 159.85

-4.7%

1:55 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Yogizuna who wrote (697)	2/7/2000 5:03:00 PM
From: Robert J Mullenbach	Read Replies (1) of 1612

Agnico-Eagle Confirms Its Policy Against Selling Gold Forward Stock Symbols: AGE (TSE, ME) AEM (NYSE) TORONTO, Feb. 7 /CNW-PRN/ - Agnico-Eagle Mines Limited today confirmed its policy of not selling any of its future gold production forward. Agnico-Eagle has consistently maintained this policy for over two decades and it currently has none of its future gold production sold forward. ``We strongly support Jay Taylor and Placer Dome's decision to restrict future hedging activities. This change in hedging strategy is long overdue among active gold hedgers and we urge other gold producers to follow Placer Dome's lead,' said Sean Boyd, Agnico-Eagle's President and Chief Executive Officer. ``The gold mining industry has been engaged in risky hedging strategies for several years that have contributed to lower gold prices and lower gold share valuations. It is time that gold producers stopped selling gold short and began acting in their shareholders' best interest by restoring the gold option value in their shares,' added Mr. Boyd. Agnico-Eagle Mines Limited is an established Canadian gold producer with operations located principally in northwestern Quebec and exploration and development activities in Quebec, Ontario and Nevada. Agnico's operating history includes 24 years of continuous gold production primarily from underground mining operations. Current proven and probable gold reserves stand at 1.5 million contained ounces, with an additional 3.5 million ounces in the mineral resource category at its LaRonde Mine. Agnico-Eagle is currently focused on the expansion and large scale exploration program of its LaRonde Mine which is expected to result in increased gold production and expanded gold reserves. SOURCE: Agnico-Eagle Mines Limited

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next