Nunavut gold operator explores new sites, reports profit – Nunatsiaq News

July 31, 2014

High ore grades at Meadowbank contribute to Agnico Eagle’s profitable second quarter

Despite softening gold prices, Agnico Eagle Mines Ltd. posted net income of $37.7 million in the second quarter of 2014, a big improvement over the $24.4 million net loss they reported for the same period in 2013, the company said July 30.

This means that for the first six months of 2014, Agnico Eagle recorded a net income of $146.5 million.

They attribute those results to higher ore grades at the Meadowbank mine near Baker Lake, which is expected to operate until at least 2018, and production from other mines in its portfolio.

Read more: http://www.nunatsiaqonline.ca/stories/article/65674nunavut_gold_operator_explores_new_sites_reports_profit/