Thursday, 28th October 2004 (2967 views)

Agnico-Eagle Mines, a Canadian mining firm, has revealed its third quarter results today, announcing earnings of $10.6 million.

The company has welcomed the results, since they are a big improvement on the period last year when the company had a net loss of $11.9 million.

Additional results show that operating cash flow was $18.9 million and gold production is on the increase.

Sean Boyd, president and CEO said: "Steady-state operations at the LaRonde mine have allowed the Company to deliver record earnings and cash flows to date in 2004."

"Solid progress continues to be made on our regional growth opportunities as we advance our three main projects to feasibility," he added.

Agnico also revealed that recent drilling work and underground programmes are well underway and performing well.

 

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