Agnico-Eagle -- ein ganz solider Goldgräber ( Seite 28)

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Rigrodsky & Long, P.A. Announces Class Action Lawsuit Against Agnico-Eagle Mines, Ltd.

Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired the securities of Agnico-Eagle Mines, Ltd. ("Agnico-Eagle" or the "Company") (NYSE: AEM) between April 29, 2010 and October 19, 2011, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 (the "Complaint").

What Hedge Fund Gurus Are Doing with Gold and Gold Stocks

Nov. 18, 2011 | Filed under: GLD, NG, GOLD, AEM, IAG, ABX, THM, FNV, GDX, FCX

Gold demand in the third quarter increased 6% year over year to an all-time high, driven by investment demand, which increased 33%, to $468.1 tonnes, or $25.6 billion. The Gold Fund ETF (GLD) continued to climb 21% year to date. Often considered as a portfolio hedge against uncertainty, it is interesting to see what Gurus have done with the metal in an economically volatile quarter.

John Paulson

Paulson is famous for his wildly optimistic view on gold beginning in 2009. On April 1, 2009, he initiated Gold Share Classes for each of his funds, shortly after the Fed announced its $1.7 trillion quantitative easing, Paulson wrote in his 2010 year-end letter to investors. He believed the profuse printing of U.S. dollars would lead to currency depreciation, which would lead to a rush into gold. On April 1, 2009, gold was about $870 an ounce. For 2010, his Paulson Funds Gold Share Classes gained from 30% to 46%.

One of Paulson’s most headline-grabbing moves in the third quarter was his dramatic reduction in his Gold EFT (GLD). He owned 31.5 million shares he bought in the first quarter of 2009 at about $89 per share, and sold 11,226,460 shares in the third quarter for about $166 per share.

Many speculated that he needed the capital for redemptions. Though he cut his gold holdings, he liberally increased many of his gold mining shares in the third quarter. He bought more shares of NovaGold Resources (NG), RandGold Resources Inc. (GOLD), AgnicoEagle Mines Ltd. (AEM), IAMGOLD Corp. (IAG), Barrick Gold Corp. (ABX) and International Tower Hill Mines (THM).

His biggest increase by percentage was AgnicoEagle Mines Ltd. He owned 700,000 shares from the second quarter of 2011 at $64 per share, and added 308,700 shares at $64.

George Soros

George Soros also made headlines for selling the majority of his gold shares in the first quarter of 2011 at about $135 per share, and further reducing in the second quarter at $147. He added 5,550 shares, however, in the third quarter at about $166 per share. As of September 30 he owns 48,350 shares.

In January 2010, George Soros called gold “the ultimate bubble” at the World Economic Forum in Davos, Switzerland. In September 2010, he clarified in an interview with Thompson Reuters: “I called gold the ultimate bubble which means it may go higher but it’s certainly not safe and it’s not going to last forever.”

In the third quarter 2011, Soros bought two new gold miners: International Tower Hill Mines (THM) and Franco Nevada Corp. (FNV). International Tower Hill Mines Ltd. is a Canada-based resource exploration company possessing a portfolio of Alaskan and Nevada based gold and base metal exploration projects. The Company is currently focused on the Livengood Gold Project located in the north of Fairbanks, Alaska. Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets.

Soros, like Paulson, increased his holding of AgnicoEagle Mines Ltd. (AEM), rounding out his 19,800 holding with 200 more shares at $64, about the same price he bought the rest of his shares.

David Einhorn

Physical gold and Market Vectors Gold Miners are among Greenlight Capital’s top five disclosed long positions at September 30. He shared some of his thoughts on gold in his third-quarter letter: “Our gold investment was the second largest winner as the price advanced from $1,499 to $1,624 an ounce. During the quarter we exchanged a portion of our gold position for additional investment in the Market Vectors Gold Miners ETF (GDX). While the price of gold has advanced significantly, the shares of gold miners have not. It has reached the point where gold mining stocks should do well even in a stable gold market; we expect the price of gold to appreciate further, so gold miners should do even better. Even with the reduction, physical gold continues to be our largest portfolio holding.”

Einhorn added 3,718,000 shares to his GDX holding at $60 per share, and now owns 7,264,971 shares. He first bought GDX in the fourth quarter 2008 at $25 per share. Founded in May 2006, the Gold Miners ETF “provides exposure to publicly traded companies worldwide involved primarily in the mining for gold.” It has returned 7.37% since inception and lost 9.9% year to date. It holds 31 securities, the largest of which are Barrick Gold Corp, Goldcorp Inc. and Newmont Mining Corp at 16.5%, 13.1% and 10.9%, respectively, of the fund.

Recently, gold mining ETFs have experienced significant outflows. GDX had a 2.2% decrease week over week, with approximately $217 million in outflows, Forbes reported on Friday.

Daniel Loeb

Daniel Loeb, whose Third Point hedge fund is down 0.3% year to date, named gold as one of his top five winners for the third quarter in his investor letter and reported it as his top holding. In the second quarter, he reported that gold was his third-largest position, and the fund was up 6.8% from the start of the year. “For the third phase, as the European picture continued to worsen and the markets tumbled in August and September, we took down gross exposure, further reflecting our bearish views,” Leb said in his third-quarter investor letter.

Loeb also owns 260,000 shares of GLD after selling 25,000 shares at $166 per share in the third quarter. His only two mining stock is Barrick Gold Corp. (ABX). He sold out of FreeportMcMoRan Copper & Gold (FCX) in the third quarter.

Quelle: http://www.gurufocus.com/news/153633/what-hedge-fund-gurus-a…

http://www.goldinvest.de/index.php/bmo-capital-markets-senkt…

Agnico-Eagle Reports Fourth Quarter and Full Year 2011 Results; Record Full Year Operating Cash Flows; Dividend Increased 25% - Declared for 30th Consecutive Year; Provides Three Year Production Guidance; Meadowbank Partially Written Down - Optimized Mine Plan

(All amounts expressed in U.S. dollars unless otherwise noted)

Stock Symbol: AEM (NYSE and TSX)

TORONTO, Feb. 15, 2012 /CNW/ - Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") today reported a quarterly net loss of $601.4 million, or a loss of $3.53 per share for the fourth quarter of 2011. This result includes a $644.9 million partial writedown of the Meadowbank mine ($3.79 per share), a non-cash foreign currency translation loss of $3.6 million ($0.02 per share), stock option expense of $8.1 million ($0.05 per share), non-recurring tax audit expenses of $11.1 million ($0.07 per share), and other non-recurring expense items of $10.0 million ($0.06 per share). Excluding these items would result in normalized net income of $76.2 million ($0.45 per share) in the fourth quarte r of 2011. In the fourth quarter of 2010, the Company reported net income of $88.0 million ($0.53 per share).

Fourth quarter 2011 cash provided by operating activities was $132.0 million ($171.6 million before changes in non-cash components of working capital) up from cash provided by operating activities of $90.6 million in the fourth quarter of 2010 ($179.4 million before changes in non-cash components of working capital), due primarily to a smaller increase in working capital in 2011.

"While 2011 was a very difficult year for our company, we look forward to 2012 as we expect most of our mines to produce more gold. We also anticipate further growth in gold output in 2013 and 2014 from our existing mines while we advance our development projects at La India and Meliadine", said Sean Boyd, President and Chief Executive Officer. "In 2012, Agnico-Eagle anticipates meeting its targets, increasing profitability and growing the shareholders' exposure to gold on a per share basis" added Mr. Boyd.

Fourth quarter and full year 2011 highlights include:
Record operating cash flows - cash provided by operating activities up 46%, year over year
Record annual gold production at Pinos Altos - strong quarterly (52,574 ounces) and record full year gold production (204,380 ounces) at total cash costs1 of $299 per ounce for the year
Record annual gold production at Kittila - record gold production in 2011 of 143,560 ounces at total cash costs of $739 per ounce
LaRonde Extension - achieves commercial production in November 2011
Quarterly dividend up 25% to $0.20 per share - Company has declared a dividend for 30 consecutive years
Grayd Resources Acquired - advanced La India property and Tarachi exploration property in Mexico key assets
Meadowbank partially written down, Goldex operations suspended - Meadowbank value reduced to approximately $762 million. Goldex investigation and remediation underway

Agnico-Eagle is pleased to announce that its Board of Directors has approved the payment of a quarterly cash dividend of $0.20 per common share. The next dividend will be paid on March 15, 2012 to shareholders of record as of March 1, 2012. Agnico-Eagle has now declared a cash dividend to its shareholders for 30 consecutive years.

For the full year 2011, the Company recorded a net loss of $568.9 million, or a loss of $3.36 per share. In 2010, Agnico-Eagle recorded net income of $332.1 million, or $2.05 per share. Compared with the prior year, 2011 earnings were negatively impacted by the writedowns of the Goldex (mining operations suspended October 2011) and Meadowbank mines ($302.9 million and $907.7 million respectively, before taxes).

The Meadowbank mine previously had a property, plant and mine development book value of approximately $1.7 billion. As a result of persistently high operating costs, the latest optimized mine plan for Meadowbank resulted in a shorter mine life and an associated reduction in the carrying value of the operation was necessary. However, it is believed that the new life of mine ("LOM") mine plan, while expected to produce a similar return, is a lower risk option as approximately 73 million tonnes, or 36%, of the previously budgeted ore and waste tonnes will not be mined under this plan.

For 2011, the Company realized a record amount of cash provided by operating activities of $663.5 million ($693.7 million before changes in non-cash components of working capital). This is significantly higher than 2010, when cash provided by operating activities totaled $483.5 million ($581.7 million before changes in non-cash components of working capital). The increase was primarily due to significant increases in realized prices for gold and silver in 2011 which more than offset lower realized prices for zinc and copper.

Payable gold production2 in the fourth quarter of 2011 was 227,792 ounces (Goldex produced through October only) compared to 256,471 ounces in the fourth quarter of 2010. A detailed description of the production and cost performance by mine may be found in the respective sections later in this document.

Total cash costs for the fourth quarter of 2011 were $671 per ounce (versus $462 per ounce for fourth quarter 2010). The increase in total cash costs per ounce in the fourth quarter of 2011 is mainly due to higher costs at LaRonde, Meadowbank and Lapa. The October suspension of the low cost Goldex mine also negatively impacted total cash costs.

The Company's payable gold production for the full year 2011 was 985,460 ounces at total cash costs per ounce of $580. The full year production is 13% below the bottom end of the range of guidance provided in December 2010. The lower than anticipated gold production in the year is largely due to the October closure of Goldex and lower than expected grades at Meadowbank and LaRonde. The 2011 production compares to the full year 2010 level of 987,609 ounces at total cash costs per ounce of $451. The higher total cash costs per ounce in 2011 were primarily due to the impact of Meadowbank, the loss of Goldex and general cost escalation in the industry.

Conference Call Tomorrow

The Company's senior management will host a conference call on Thursday, February 16, 2012 at 11:00 AM (E.S.T.) to discuss financial results and provide an update of the Company's exploration and development activities.

Via Webcast:

A live audio webcast of the meeting will be available on the Company's website homepage at www.agnico-eagle.com.

Via Telephone:

For those preferring to listen by telephone, please dial 416-644-3414 or Toll-free 800-814-4859. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.

Replay archive:

Please dial 416-640-1917 or the Toll-free access number 877-289-8525, passcode 4507250#.

The conference call replay will expire on Friday, March 16, 2012.

The webcast along with presentation slides will be archived for 180 days on the website.

Senior Management Changes

Agnico-Eagle's Board of Directors has approved the following changes to its senior management structure.

After 26 years with Agnico-Eagle, President and Chief Operating Officer Eberhard Scherkus will be leaving the Company. Under Ebe's operating leadership, Agnico-Eagle has grown dramatically over the past several years.

"All of us at Agnico-Eagle want to thank Ebe for his friendship and leadership in helping to build, grow and transform the Company from a single asset producer into a multi-mine international gold company", said President and CEO, Sean Boyd. "Ebe's achievements have been widely recognized in the mining industry and Agnico-Eagle will continue to benefit from his extensive experience as he will act as a consultant to the Company" added Mr. Boyd.

Agnico-Eagle also announces that Paul-Henri Girard, Vice-President, Canada will be leaving the Company after 25 years of service. Paul-Henri was instrumental in the development of the world-class LaRonde mine and in building the Company's Canadian mining base. He will also continue to serve the Company as an advisor to senior management.

Several other additions and changes have been made to Agnico-Eagle's senior management team.

Jean-Luk Pellerin, Senior Vice-President, Human Resources was added to the team in January 2012. Mr. Pellerin brings a wealth of senior HR experience most recently with Transat A.T., Mercer Consulting and Bombardier.

Yvon Sylvestre has been appointed Senior Vice-President, Operations. With more than 30 years of mining industry experience, Yvon has held several senior positions within Agnico-Eagle, including General Manager, Goldex Division and most recently Vice-President, Technical Services and Construction.

Daniel Racine will move into a new role as Senior Vice-President, Mining. Daniel will work with the operating group and will focus on optimizing mining operations, engineering, maintenance and health and safety activities. He will also continue to be responsible for the Information Technology function.

Marc Legault has been promoted to Senior Vice-President, Project Evaluations. In this role Marc will continue to manage Agnico-Eagle's project evaluation team. He is leading an expanded effort in this area and he will work closely with the corporate development and exploration groups.

Mathew Cook has been promoted to Vice-President, Corporate Controller. In this role, Mathew will continue to lead and oversee all aspects the Company's corporate accounting function. He has been with the Company since 2004 and has held several senior positions including Corporate Controller and Corporate Director, Financial Reporting.

The Company has also added three new Vice-Presidents within Agnico-Eagle's operating team. Pierre Bureau has been appointed Vice-President, Construction, Michel Leclerc has been appointed Vice-President, Project Evaluations and Christian Provencher has been appointed Vice-President, Canada.

In Pierre's new role, he will be responsible for major project construction. He has been with Agnico-Eagle since 1997 and has held several senior positions including General Manager of Construction for our Pinos Altos mine in Mexico. Most recently, Pierre was Corporate Director, Construction.

In Michel's new role, he will work closely with Marc Legault to expand the activities of the project evaluations team. He has been with Agnico-Eagle since 2001 and has held several senior positions including Mine Manager at the LaRonde Mine. Most recently Michel was Corporate Director, Technical Evaluations.

In Christian's new role, he will be responsible for the management of Agnico-Eagle's Canadian mining operations. Christian has been with Agnico-Eagle since 2002 and has held many key positions including General Manager of the LaRonde mine. Most recently he was Corporate Director, Mining and Performance Standards.

Cash Position Remains Strong

Cash and cash equivalents increased to $221.5 million at December 31, 2011, from the September 30, 2011 balance of $116.7 million, as the Company drew on its bank facilities during the quarter during the normal course of inter-Company fund flows. The bank facilities were also used for the cash portion of the acquisition of Grayd Resource Corporation during the quarter.

Capital expenditures in the fourth quarter were $107.6 million including $25.1 million at LaRonde, $21.8 million at Meadowbank, $21.8 million at Kittila, $7.6 million at Pinos Altos and $4.6 million at Lapa. For the full year 2011, capital expenditures totaled $482.8 million.

With its cash balances, anticipated cash flows and available bank lines, management believes that Agnico-Eagle remains fully funded for the development and exploration of its current pipeline of gold projects in Canada, Finland, Mexico and the USA.

Available credit lines as of December 31, 2011 were approximately $880 million.

Three Year Plan Outlines Further Production Growth

The Company is announcing its production and cost guidance for the three-year period of 2012 through 2014.

In 2012, payable gold production is expected to be in the range of 875,000 ounces to 950,000 ounces. Total cash costs per ounce in 2012 are expected to be in the range of $690 to $750.

In 2013, Agnico-Eagle expects to have payable gold production of approximately 990,000 ounces, growing to 1,055,000 ounces in 2014. Total cash costs per ounce are expected to be at similar levels to those now forecast for 2012.

Jetzt will ich mich für einen Einstieg informieren und sehe hier ruht der See, warum ?

Weil die Entscheidung über Goldex Mine erst im April fällt, und sie haben während der Pressekonferenz nichts neues gesagt (oder wollten nichts Neues zur Goldex Mine sagen).
Ich habe mir das angehört. Sie haben bei jeder Frage über Goldex auf April hingewiesen, und nur soviel gesagt, dass die Vermutungen, dass die Mine jetzt überflutet ist, sind falsch, und sie machen dort weiter "Underground drilling", d.h., sie bohren dort untererdisch weiter.

mal ne ganz blöde Frage ist der totalausfall von Goldex bereits eingepreist ?