Agnico Eagle updates FY19 production guidance
Total production for 2019 is now expected to be 1.77 to 1.78 million ounces of gold, including pre-commercial production from Meliadine and Amaruq, which is a slight increase from the previous guidance of 1.75 million ounces of gold. The Company anticipates that total cash costs per ounce and AISC per ounce for 2019 will continue to be in the range of $620 to $670 and $875 and $925, respectively. Production in 2020 is now expected to be 1.90 to 2.0 million ounces of gold (previous guidance was 1.96 to 2.04 million ounces of gold. The adjustment to guidance relates primarily to a slower than expected ramp up of production at Amaruq relating to adverse weather conditions in the second and third quarters of 2019, which has impacted development. Full production and cost guidance will be updated with the results for the year-end and fourth quarter of 2019 in February 2020.