UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of July, 2023
Commission File Number 001-13422
AGNICO EAGLE MINES LIMITED
(Translation of registrant’s name into English)
145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ¨ Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)( 1): ¨
Note: Regulation S-T Rule 101 (b)( 1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7): ¨
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .
EXHIBITS
Exhibit No. | Exhibit Description |
99.1 | Second Quarter Report |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
AGNICO EAGLE MINES LIMITED | |
(Registrant) |
Date: 07/26/2023 | By: | /s/ Chris Vollmershausen |
Chris Vollmershausen | ||
Executive Vice-President, Legal, General Counsel & Corporate Secretary |
Exhibit Number 99.1 submitted with this Form 6-K is hereby incorporated by reference into Agnico Eagle Mines Limited's Registration Statements on Form F-10 (Reg. No. 333-234778), Form F-3D (Reg. No. 333-249203) and Form S-8 (Reg. Nos. 333-130339 and 333-152004)
(millions of United States dollars)
|
| |
Three Months Ended
June 30, 2023 vs. Three Months Ended June 30, 2022 |
| |
Six Months Ended
June 30, 2023 vs. Six Months Ended June 30, 2022 |
| ||||||
Increase in gold revenues
|
| | | $ | 137.7 | | | | | $ | 322.7 | | |
Increase in silver revenues
|
| | | | 2.1 | | | | | | 2.0 | | |
Decrease in net copper revenues
|
| | | | (1.9) | | | | | | (0.8) | | |
Decrease in net zinc revenues
|
| | | | (0.8) | | | | | | (2.8) | | |
Decrease in production costs due to effects of foreign currencies
|
| | | | 16.1 | | | | | | 37.7 | | |
Increase in production costs
|
| | | | (101.7) | | | | | | (114.7) | | |
Decrease in exploration and corporate development expenses
|
| | | | 15.9 | | | | | | 28.0 | | |
Increase in amortization of property, plant and mine development
|
| | | | (111.4) | | | | | | (159.7) | | |
Decrease in general and administrative expenses
|
| | | | 2.0 | | | | | | 21.3 | | |
Increase in finance costs
|
| | | | (14.9) | | | | | | (15.7) | | |
Change in derivative financial instruments
|
| | | | 67.2 | | | | | | 45.1 | | |
Change in non-cash foreign currency translation
|
| | | | (17.5) | | | | | | (16.5) | | |
Increase in care and maintenance
|
| | | | (0.2) | | | | | | (0.9) | | |
Change in revaluation gain
|
| | | | — | | | | | | 1,543.4 | | |
Decrease in other expenses
|
| | | | 16.8 | | | | | | 86.3 | | |
Decrease (increase) in income and mining taxes
|
| | | | 26.9 | | | | | | (41.1) | | |
Total net income variance
|
| | | $ | 36.3 | | | | | $ | 1,734.3 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
(thousands of United States dollars)
|
| |
2023
|
| |
2022(i)
|
| |
2023
|
| |
2022(i)
|
| ||||||||||||
| | | | | | | | |
Restated
|
| | | | | | | |
Restated
|
| ||||||
Net income for the period — basic
|
| | | $ | 326,821 | | | | | $ | 290,389 | | | | | $ | 2,143,712 | | | | | $ | 409,465 | | |
Dilutive impact of cash settling LTIP
|
| | | $ | (1,140) | | | | | $ | (2,745) | | | | | $ | (2,916) | | | | | $ | 398 | | |
Net income for the period — diluted
|
| | | | 325,681 | | | | | | 287,644 | | | | | | 2,140,796 | | | | | | 409,863 | | |
Foreign currency translation loss (gain)
|
| | | | 4,014 | | | | | | (13,492) | | | | | | 4,234 | | | | | | (12,282) | | |
Realized and unrealized (gain) loss on derivative financial instruments
|
| | | | (26,433) | | | | | | 40,753 | | | | | | (32,972) | | | | | | 12,089 | | |
Transaction costs and severance related to acquisitions
|
| | | | 1,674 | | | | | | 11,372 | | | | | | 16,912 | | | | | | 92,139 | | |
Revaluation gain on Yamana Transaction
|
| | | | — | | | | | | — | | | | | | (1,543,414) | | | | | | — | | |
Environmental remediation
|
| | | | (1,420) | | | | | | (319) | | | | | | (1,977) | | | | | | (2,618) | | |
Integration costs
|
| | | | — | | | | | | 457 | | | | | | — | | | | | | 457 | | |
Net loss on disposal of property. plant and equipment
|
| | | | 1,058 | | | | | | 2,828 | | | | | | 3,601 | | | | | | 3,914 | | |
Purchase price allocation to inventory(ii)
|
| | | | 22,821 | | | | | | 39,185 | | | | | | 22,821 | | | | | | 152,836 | | |
Income and mining taxes adjustments(iii)
|
| | | | (6,121) | | | | | | (9,516) | | | | | | (19,223) | | | | | | (49,398) | | |
Adjusted net income for the period — basic
|
| | | $ | 322,414 | | | | | $ | 361,657 | | | | | $ | 593,694 | | | | | $ | 606,602 | | |
Adjusted net income for the period — diluted
|
| | | $ | 321,274 | | | | | $ | 358,912 | | | | | $ | 590,778 | | | | | $ | 607,000 | | |
Net income per share — basic
|
| | | $ | 0.66 | | | | | $ | 0.64 | | | | | $ | 4.45 | | | | | $ | 0.97 | | |
Net income per share — diluted
|
| | | $ | 0.66 | | | | | $ | 0.63 | | | | | $ | 4.43 | | | | | $ | 0.97 | | |
Adjusted net income per share — basic
|
| | | $ | 0.65 | | | | | $ | 0.79 | | | | | $ | 1.23 | | | | | $ | 1.44 | | |
Adjusted net income per share — diluted
|
| | | $ | 0.65 | | | | | $ | 0.79 | | | | | $ | 1.22 | | | | | $ | 1.44 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
(thousands of United States dollars)
|
| |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
LaRonde mine
|
| | | $ | 63,969 | | | | | $ | 33,949 | | | | | $ | 103,676 | | | | | $ | 79,790 | | |
LaRonde Zone 5 mine
|
| | | | 21,763 | | | | | | 17,133 | | | | | | 43,987 | | | | | | 33,866 | | |
LaRonde complex
|
| | | | 85,732 | | | | | | 51,082 | | | | | | 147,663 | | | | | | 113,656 | | |
Canadian Malartic complex(i)
|
| | | | 144,190 | | | | | | 56,405 | | | | | | 201,481 | | | | | | 113,342 | | |
Goldex mine
|
| | | | 28,160 | | | | | | 26,530 | | | | | | 55,995 | | | | | | 52,747 | | |
Meliadine mine
|
| | | | 78,817 | | | | | | 86,386 | | | | | | 160,011 | | | | | | 165,065 | | |
Meadowbank complex
|
| | | | 117,488 | | | | | | 107,373 | | | | | | 247,492 | | | | | | 204,084 | | |
Kittila mine
|
| | | | 43,336 | | | | | | 53,315 | | | | | | 96,631 | | | | | | 102,766 | | |
Detour Lake mine
|
| | | | 112,796 | | | | | | 137,429 | | | | | | 226,818 | | | | | | 257,394 | | |
Macassa mine
|
| | | | 38,545 | | | | | | 33,001 | | | | | | 76,504 | | | | | | 65,315 | | |
Fosterville mine
|
| | | | 35,831 | | | | | | 48,303 | | | | | | 72,430 | | | | | | 136,304 | | |
Pinos Altos mine
|
| | | | 34,709 | | | | | | 39,873 | | | | | | 67,631 | | | | | | 72,409 | | |
Creston Mascota mine
|
| | | | — | | | | | | 484 | | | | | | — | | | | | | 1,099 | | |
La India mine
|
| | | | 23,649 | | | | | | 17,455 | | | | | | 43,741 | | | | | | 35,190 | | |
Production costs per the condensed interim consolidated
statements of income |
| | | $ | 743,253 | | | | | $ | 657,636 | | | | | $ | 1,396,397 | | | | | $ | 1,319,371 | | |
LaRonde mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
58,635
|
| |
70,736
|
| |
118,168
|
| |
158,285
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 63,969 | | | | | $ | 1,091 | | | | | $ | 33,949 | | | | | $ | 480 | | | | | $ | 103,676 | | | | | $ | 877 | | | | | $ | 79,790 | | | | | $ | 504 | | |
Inventory adjustments(ii)
|
| | | | (8,971) | | | | | | (153) | | | | | | 20,746 | | | | | | 293 | | | | | | 13,534 | | | | | | 115 | | | | | | 31,673 | | | | | | 200 | | |
Realized gains and losses on hedges of production costs
|
| | | | 770 | | | | | | 13 | | | | | | (127) | | | | | | (2) | | | | | | 1,848 | | | | | | 16 | | | | | | (612) | | | | | | (4) | | |
Other adjustments(v)
|
| | | | 5,555 | | | | | | 95 | | | | | | 4,079 | | | | | | 58 | | | | | | 9,903 | | | | | | 83 | | | | | | 6,841 | | | | | | 44 | | |
Cash operating costs (co-product basis)
|
| | | $ | 61,323 | | | | | $ | 1,046 | | | | | $ | 58,647 | | | | | $ | 829 | | | | | $ | 128,961 | | | | | $ | 1,091 | | | | | $ | 117,692 | | | | | $ | 744 | | |
By-product metal revenues
|
| | | | (15,157) | | | | | | (259) | | | | | | (18,643) | | | | | | (263) | | | | | | (29,689) | | | | | | (251) | | | | | | (35,861) | | | | | | (227) | | |
Cash operating costs (by-product basis)
|
| | | $ | 46,166 | | | | | $ | 787 | | | | | $ | 40,004 | | | | | $ | 566 | | | | | $ | 99,272 | | | | | $ | 840 | | | | | $ | 81,831 | | | | | $ | 517 | | |
LaRonde mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
347
|
| |
423
|
| |
736
|
| |
877
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 63,969 | | | | | $ | 185 | | | | | $ | 33,949 | | | | | $ | 80 | | | | | $ | 103,676 | | | | | $ | 141 | | | | | $ | 79,790 | | | | | $ | 91 | | |
Production costs (C$)
|
| | | $ | 85,861 | | | | | $ | 247 | | | | | $ | 43,317 | | | | | $ | 103 | | | | | $ | 139,434 | | | | | $ | 189 | | | | | $ | 101,332 | | | | | $ | 115 | | |
Inventory adjustments (C$)(ii)
|
| | | | (11,297) | | | | | | (33) | | | | | | 25,856 | | | | | | 61 | | | | | | 18,426 | | | | | | 25 | | | | | | 38,213 | | | | | | 44 | | |
Other adjustments (C$)(v)
|
| | | | (3,302) | | | | | | (8) | | | | | | (3,371) | | | | | | (8) | | | | | | (6,443) | | | | | | (8) | | | | | | (6,877) | | | | | | (8) | | |
Minesite operating costs (C$)
|
| | | $ | 71,262 | | | | | $ | 206 | | | | | $ | 65,802 | | | | | $ | 156 | | | | | $ | 151,417 | | | | | $ | 206 | | | | | $ | 132,668 | | | | | $ | 151 | | |
LaRonde Zone 5 mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
18,145
|
| |
17,774
|
| |
38,219
|
| |
35,262
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 21,763 | | | | | $ | 1,199 | | | | | $ | 17,133 | | | | | $ | 964 | | | | | $ | 43,987 | | | | | $ | 1,151 | | | | | $ | 33,866 | | | | | $ | 960 | | |
Inventory adjustments(ii)
|
| | | | (784) | | | | | | (43) | | | | | | 350 | | | | | | 20 | | | | | | (261) | | | | | | (7) | | | | | | 815 | | | | | | 24 | | |
Realized gains and losses on hedges of production costs
|
| | | | 257 | | | | | | 14 | | | | | | (30) | | | | | | (2) | | | | | | 616 | | | | | | 16 | | | | | | (143) | | | | | | (4) | | |
Other adjustments(v)
|
| | | | 775 | | | | | | 43 | | | | | | 19 | | | | | | 1 | | | | | | 1,111 | | | | | | 29 | | | | | | 49 | | | | | | 1 | | |
Cash operating costs (co-product basis)
|
| | | $ | 22,011 | | | | | $ | 1,213 | | | | | $ | 17,472 | | | | | $ | 983 | | | | | $ | 45,453 | | | | | $ | 1,189 | | | | | $ | 34,587 | | | | | $ | 981 | | |
By-product metal revenues
|
| | | | (271) | | | | | | (15) | | | | | | (28) | | | | | | (1) | | | | | | (546) | | | | | | (14) | | | | | | (119) | | | | | | (3) | | |
Cash operating costs (by-product basis)
|
| | | $ | 21,740 | | | | | $ | 1,198 | | | | | $ | 17,444 | | | | | $ | 982 | | | | | $ | 44,907 | | | | | $ | 1,175 | | | | | $ | 34,468 | | | | | $ | 978 | | |
LaRonde Zone 5 mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
313
|
| |
291
|
| |
632
|
| |
570
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 21,763 | | | | | $ | 70 | | | | | $ | 17,133 | | | | | $ | 59 | | | | | $ | 43,987 | | | | | $ | 70 | | | | | $ | 33,866 | | | | | $ | 59 | | |
Production costs (C$)
|
| | | $ | 29,277 | | | | | $ | 94 | | | | | $ | 21,854 | | | | | $ | 75 | | | | | $ | 59,265 | | | | | $ | 94 | | | | | $ | 43,027 | | | | | $ | 75 | | |
Inventory adjustments (C$)(ii)
|
| | | | (1,147) | | | | | | (4) | | | | | | 523 | | | | | | 2 | | | | | | (409) | | | | | | (1) | | | | | | 1,099 | | | | | | 2 | | |
Minesite operating costs (C$)
|
| | | $ | 28,130 | | | | | $ | 90 | | | | | $ | 22,377 | | | | | $ | 77 | | | | | $ | 58,856 | | | | | $ | 93 | | | | | $ | 44,126 | | | | | $ | 77 | | |
LaRonde complex
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
76,780
|
| |
88,510
|
| |
156,387
|
| |
193,547
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 85,732 | | | | | $ | 1,117 | | | | | $ | 51,082 | | | | | $ | 577 | | | | | $ | 147,663 | | | | | $ | 944 | | | | | $ | 113,656 | | | | | $ | 587 | | |
Inventory adjustments(ii)
|
| | | | (9,755) | | | | | | (127) | | | | | | 21,096 | | | | | | 238 | | | | | | 13,273 | | | | | | 85 | | | | | | 32,488 | | | | | | 168 | | |
Realized gains and losses on hedges of production costs
|
| | | | 1,027 | | | | | | 13 | | | | | | (157) | | | | | | (2) | | | | | | 2,464 | | | | | | 16 | | | | | | (755) | | | | | | (4) | | |
Other adjustments(v)
|
| | | | 6,330 | | | | | | 82 | | | | | | 4,098 | | | | | | 47 | | | | | | 11,014 | | | | | | 70 | | | | | | 6,890 | | | | | | 36 | | |
Cash operating costs (co-product basis)
|
| | | $ | 83,334 | | | | | $ | 1,085 | | | | | $ | 76,119 | | | | | $ | 860 | | | | | $ | 174,414 | | | | | $ | 1,115 | | | | | $ | 152,279 | | | | | $ | 787 | | |
By-product metal revenues
|
| | | | (15,428) | | | | | | (201) | | | | | | (18,671) | | | | | | (211) | | | | | | (30,235) | | | | | | (193) | | | | | | (35,980) | | | | | | (186) | | |
Cash operating costs (by-product basis)
|
| | | $ | 67,906 | | | | | $ | 884 | | | | | $ | 57,448 | | | | | $ | 649 | | | | | $ | 144,179 | | | | | $ | 922 | | | | | $ | 116,299 | | | | | $ | 601 | | |
LaRonde complex
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
660
|
| |
714
|
| |
1,368
|
| |
1,447
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 85,732 | | | | | $ | 130 | | | | | $ | 51,082 | | | | | $ | 72 | | | | | $ | 147,663 | | | | | $ | 108 | | | | | $ | 113,656 | | | | | $ | 79 | | |
Production costs (C$)
|
| | | $ | 115,138 | | | | | $ | 174 | | | | | $ | 65,171 | | | | | $ | 92 | | | | | $ | 198,699 | | | | | $ | 145 | | | | | $ | 144,359 | | | | | $ | 100 | | |
Inventory adjustments (C$)(ii)
|
| | | | (12,444) | | | | | | (19) | | | | | | 26,379 | | | | | | 37 | | | | | | 18,017 | | | | | | 13 | | | | | | 39,312 | | | | | | 27 | | |
Other adjustments (C$)(v)
|
| | | | (3,302) | | | | | | (4) | | | | | | (3,371) | | | | | | (5) | | | | | | (6,443) | | | | | | (4) | | | | | | (6,877) | | | | | | (5) | | |
Minesite operating costs (C$)
|
| | | $ | 99,392 | | | | | $ | 151 | | | | | $ | 88,179 | | | | | $ | 124 | | | | | $ | 210,273 | | | | | $ | 154 | | | | | $ | 176,794 | | | | | $ | 122 | | |
Canadian Malartic complex
Per Ounce of Gold Produced(i) |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
177,755
|
| |
87,186
|
| |
258,440
|
| |
167,695
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 144,190 | | | | | $ | 811 | | | | | $ | 56,405 | | | | | $ | 647 | | | | | $ | 201,481 | | | | | $ | 780 | | | | | $ | 113,342 | | | | | $ | 676 | | |
Inventory adjustments(ii)
|
| | | | 43 | | | | | | — | | | | | | 2,139 | | | | | | 25 | | | | | | 538 | | | | | | 2 | | | | | | 2,867 | | | | | | 17 | | |
Purchase price allocation to inventory(iv)
|
| | | | (22,821) | | | | | | (128) | | | | | | — | | | | | | — | | | | | | (22,821) | | | | | | (88) | | | | | | — | | | | | | — | | |
Other adjustments(v)
|
| | | | 17,835 | | | | | | 100 | | | | | | 8,332 | | | | | | 95 | | | | | | 25,217 | | | | | | 97 | | | | | | 16,114 | | | | | | 96 | | |
Cash operating costs (co-product basis)
|
| | | $ | 139,247 | | | | | $ | 783 | | | | | $ | 66,876 | | | | | $ | 767 | | | | | $ | 204,415 | | | | | $ | 791 | | | | | $ | 132,323 | | | | | $ | 789 | | |
By-product metal revenues
|
| | | | (2,069) | | | | | | (11) | | | | | | (1,243) | | | | | | (14) | | | | | | (3,207) | | | | | | (12) | | | | | | (2,905) | | | | | | (17) | | |
Cash operating costs (by-product basis)
|
| | | $ | 137,178 | | | | | $ | 772 | | | | | $ | 65,633 | | | | | $ | 753 | | | | | $ | 201,208 | | | | | $ | 779 | | | | | $ | 129,418 | | | | | $ | 772 | | |
Canadian Malartic complex
Per Tonne(i) |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
4,882
|
| |
2,399
|
| |
7,144
|
| |
4,811
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 144,190 | | | | | $ | 30 | | | | | $ | 56,405 | | | | | $ | 24 | | | | | $ | 201,481 | | | | | $ | 28 | | | | | $ | 113,342 | | | | | $ | 24 | | |
Production costs (C$)
|
| | | $ | 194,997 | | | | | $ | 40 | | | | | $ | 71,080 | | | | | $ | 30 | | | | | $ | 271,662 | | | | | $ | 38 | | | | | $ | 142,709 | | | | | $ | 30 | | |
Inventory adjustments (C$)(ii)
|
| | | | 511 | | | | | | — | | | | | | 2,664 | | | | | | 1 | | | | | | 1,251 | | | | | | — | | | | | | 3,674 | | | | | | 1 | | |
Purchase price allocation to inventory(C$)(iv)
|
| | | | (30,651) | | | | | | (6) | | | | | | — | | | | | | — | | | | | | (30,651) | | | | | | (4) | | | | | | — | | | | | | — | | |
Other adjustments (C$)(v)
|
| | | | 23,599 | | | | | | 5 | | | | | | 10,581 | | | | | | 4 | | | | | | 33,424 | | | | | | 5 | | | | | | 20,228 | | | | | | 4 | | |
Minesite operating costs (C$)
|
| | | $ | 188,456 | | | | | $ | 39 | | | | | $ | 84,325 | | | | | $ | 35 | | | | | $ | 275,686 | | | | | $ | 39 | | | | | $ | 166,611 | | | | | $ | 35 | | |
Goldex mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
37,716
|
| |
36,877
|
| |
71,739
|
| |
71,322
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 28,160 | | | | | $ | 747 | | | | | $ | 26,530 | | | | | $ | 719 | | | | | $ | 55,995 | | | | | $ | 781 | | | | | $ | 52,747 | | | | | $ | 740 | | |
Inventory adjustments(ii)
|
| | | | 582 | | | | | | 16 | | | | | | (22) | | | | | | (1) | | | | | | (455) | | | | | | (6) | | | | | | 688 | | | | | | 10 | | |
Realized gains and losses on hedges of production costs
|
| | | | 505 | | | | | | 13 | | | | | | (56) | | | | | | (1) | | | | | | 1,212 | | | | | | 17 | | | | | | (271) | | | | | | (5) | | |
Other adjustments(v)
|
| | | | 40 | | | | | | 1 | | | | | | 41 | | | | | | 1 | | | | | | 102 | | | | | | 1 | | | | | | 95 | | | | | | 2 | | |
Cash operating costs (co-product basis)
|
| | | $ | 29,287 | | | | | $ | 777 | | | | | $ | 26,493 | | | | | $ | 718 | | | | | $ | 56,854 | | | | | $ | 793 | | | | | $ | 53,259 | | | | | $ | 747 | | |
By-product metal revenues
|
| | | | (11) | | | | | | (1) | | | | | | (5) | | | | | | — | | | | | | (25) | | | | | | (1) | | | | | | (21) | | | | | | (1) | | |
Cash operating costs (by-product basis)
|
| | | $ | 29,276 | | | | | $ | 776 | | | | | $ | 26,488 | | | | | $ | 718 | | | | | $ | 56,829 | | | | | $ | 792 | | | | | $ | 53,238 | | | | | $ | 746 | | |
Goldex mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
761
|
| |
738
|
| |
1,459
|
| |
1,482
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 28,160 | | | | | $ | 37 | | | | | $ | 26,530 | | | | | $ | 36 | | | | | $ | 55,995 | | | | | $ | 38 | | | | | $ | 52,747 | | | | | $ | 36 | | |
Production costs (C$)
|
| | | $ | 37,859 | | | | | $ | 50 | | | | | $ | 33,951 | | | | | $ | 46 | | | | | $ | 75,486 | | | | | $ | 52 | | | | | $ | 67,171 | | | | | $ | 45 | | |
Inventory adjustments (C$)(ii)
|
| | | | 730 | | | | | | 1 | | | | | | 23 | | | | | | — | | | | | | (660) | | | | | | (1) | | | | | | 915 | | | | | | 1 | | |
Minesite operating costs (C$)
|
| | | $ | 38,589 | | | | | $ | 51 | | | | | $ | 33,974 | | | | | $ | 46 | | | | | $ | 74,826 | | | | | $ | 51 | | | | | $ | 68,086 | | | | | $ | 46 | | |
Meliadine mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
87,682
|
| |
97,572
|
| |
178,149
|
| |
178,276
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 78,817 | | | | | $ | 899 | | | | | $ | 86,386 | | | | | $ | 885 | | | | | $ | 160,011 | | | | | $ | 898 | | | | | $ | 165,065 | | | | | $ | 926 | | |
Inventory adjustments(ii)
|
| | | | 11,228 | | | | | | 128 | | | | | | (3,671) | | | | | | (38) | | | | | | 14,852 | | | | | | 83 | | | | | | (39) | | | | | | — | | |
Realized gains and losses on hedges of production costs
|
| | | | (451) | | | | | | (5) | | | | | | (884) | | | | | | (9) | | | | | | (363) | | | | | | (2) | | | | | | (2,195) | | | | | | (13) | | |
Other adjustments(v)
|
| | | | (118) | | | | | | (2) | | | | | | 68 | | | | | | 1 | | | | | | (13) | | | | | | — | | | | | | 163 | | | | | | 1 | | |
Cash operating costs (co-product basis)
|
| | | $ | 89,476 | | | | | $ | 1,020 | | | | | $ | 81,899 | | | | | $ | 839 | | | | | $ | 174,487 | | | | | $ | 979 | | | | | $ | 162,994 | | | | | $ | 914 | | |
By-product metal revenues
|
| | | | (139) | | | | | | (1) | | | | | | (188) | | | | | | (2) | | | | | | (339) | | | | | | (1) | | | | | | (405) | | | | | | (2) | | |
Cash operating costs (by-product basis)
|
| | | $ | 89,337 | | | | | $ | 1,019 | | | | | $ | 81,711 | | | | | $ | 837 | | | | | $ | 174,148 | | | | | $ | 978 | | | | | $ | 162,589 | | | | | $ | 912 | | |
Meliadine mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
461
|
| |
449
|
| |
937
|
| |
881
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 78,817 | | | | | $ | 171 | | | | | $ | 86,386 | | | | | $ | 192 | | | | | $ | 160,011 | | | | | $ | 171 | | | | | $ | 165,065 | | | | | $ | 187 | | |
Production costs (C$)
|
| | | $ | 105,834 | | | | | $ | 230 | | | | | $ | 109,488 | | | | | $ | 244 | | | | | $ | 214,715 | | | | | $ | 229 | | | | | $ | 208,925 | | | | | $ | 237 | | |
Inventory adjustments (C$)(ii)
|
| | | | 14,556 | | | | | | 31 | | | | | | (4,241) | | | | | | (10) | | | | | | 19,606 | | | | | | 21 | | | | | | 284 | | | | | | — | | |
Minesite operating costs (C$)
|
| | | $ | 120,390 | | | | | $ | 261 | | | | | $ | 105,247 | | | | | $ | 234 | | | | | $ | 234,321 | | | | | $ | 250 | | | | | $ | 209,209 | | | | | $ | 237 | | |
Meadowbank complex
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
94,775
|
| |
96,698
|
| |
205,885
|
| |
156,463
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 117,488 | | | | | $ | 1,240 | | | | | $ | 107,373 | | | | | $ | 1,110 | | | | | $ | 247,492 | | | | | $ | 1,202 | | | | | $ | 204,084 | | | | | $ | 1,304 | | |
Inventory adjustments(ii)
|
| | | | (5,048) | | | | | | (54) | | | | | | (9,132) | | | | | | (94) | | | | | | (6,702) | | | | | | (32) | | | | | | 6,071 | | | | | | 39 | | |
Realized gains and losses on hedges of production costs
|
| | | | (2,118) | | | | | | (22) | | | | | | (1,631) | | | | | | (17) | | | | | | (3,617) | | | | | | (18) | | | | | | (3,674) | | | | | | (23) | | |
Operational care & maintenance due to COVID-19(iii)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,436) | | | | | | (9) | | |
Other adjustments(v)
|
| | | | 4 | | | | | | — | | | | | | (26) | | | | | | — | | | | | | (51) | | | | | | — | | | | | | 40 | | | | | | — | | |
Cash operating costs (co-product basis)
|
| | | $ | 110,326 | | | | | $ | 1,164 | | | | | $ | 96,584 | | | | | $ | 999 | | | | | $ | 237,122 | | | | | $ | 1,152 | | | | | $ | 205,085 | | | | | $ | 1,311 | | |
By-product metal revenues
|
| | | | (723) | | | | | | (8) | | | | | | (587) | | | | | | (6) | | | | | | (1,548) | | | | | | (8) | | | | | | (882) | | | | | | (6) | | |
Cash operating costs (by-product basis)
|
| | | $ | 109,603 | | | | | $ | 1,156 | | | | | $ | 95,997 | | | | | $ | 993 | | | | | $ | 235,574 | | | | | $ | 1,144 | | | | | $ | 204,203 | | | | | $ | 1,305 | | |
Meadowbank complex
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
845
|
| |
930
|
| |
1,828
|
| |
1,785
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 117,488 | | | | | $ | 139 | | | | | $ | 107,373 | | | | | $ | 116 | | | | | $ | 247,492 | | | | | $ | 135 | | | | | $ | 204,084 | | | | | $ | 114 | | |
Production costs (C$)
|
| | | $ | 157,407 | | | | | $ | 186 | | | | | $ | 136,663 | | | | | $ | 147 | | | | | $ | 330,385 | | | | | $ | 181 | | | | | $ | 259,128 | | | | | $ | 145 | | |
Inventory adjustments (C$)(ii)
|
| | | | (6,632) | | | | | | (8) | | | | | | (10,911) | | | | | | (12) | | | | | | (8,858) | | | | | | (5) | | | | | | 7,897 | | | | | | 5 | | |
Operational care and maintenance due to COVID-19 (C$)(iii)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,793) | | | | | | (1) | | |
Minesite operating costs (C$)
|
| | | $ | 150,775 | | | | | $ | 178 | | | | | $ | 125,752 | | | | | $ | 135 | | | | | $ | 321,527 | | | | | $ | 176 | | | | | $ | 265,232 | | | | | $ | 149 | | |
Kittila mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
50,130
|
| |
64,814
|
| |
113,822
|
| |
110,322
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 43,336 | | | | | $ | 864 | | | | | $ | 53,315 | | | | | $ | 823 | | | | | $ | 96,631 | | | | | $ | 849 | | | | | $ | 102,766 | | | | | $ | 932 | | |
Inventory adjustments(ii)
|
| | | | 2,784 | | | | | | 56 | | | | | | (1,164) | | | | | | (19) | | | | | | 2,744 | | | | | | 24 | | | | | | (3,955) | | | | | | (36) | | |
Realized gains and losses on hedges of production costs
|
| | | | (925) | | | | | | (18) | | | | | | 1,542 | | | | | | 24 | | | | | | (1,558) | | | | | | (14) | | | | | | 2,220 | | | | | | 20 | | |
Other adjustments(v)
|
| | | | (50) | | | | | | (1) | | | | | | 39 | | | | | | 1 | | | | | | (1,273) | | | | | | (11) | | | | | | 93 | | | | | | 1 | | |
Cash operating costs (co-product basis)
|
| | | $ | 45,145 | | | | | $ | 901 | | | | | $ | 53,732 | | | | | $ | 829 | | | | | $ | 96,544 | | | | | $ | 848 | | | | | $ | 101,124 | | | | | $ | 917 | | |
By-product metal revenues
|
| | | | (93) | | | | | | (2) | | | | | | (78) | | | | | | (1) | | | | | | (162) | | | | | | (1) | | | | | | (167) | | | | | | (2) | | |
Cash operating costs (by-product basis)
|
| | | $ | 45,052 | | | | | $ | 899 | | | | | $ | 53,654 | | | | | $ | 828 | | | | | $ | 96,382 | | | | | $ | 847 | | | | | $ | 100,957 | | | | | $ | 915 | | |
Kittila mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
417
|
| |
556
|
| |
913
|
| |
1,017
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 43,336 | | | | | $ | 104 | | | | | $ | 53,315 | | | | | $ | 96 | | | | | $ | 96,631 | | | | | $ | 106 | | | | | $ | 102,766 | | | | | $ | 101 | | |
Production costs (€)
|
| | | € | 42,251 | | | | | € | 101 | | | | | € | 49,550 | | | | | € | 89 | | | | | € | 91,002 | | | | | € | 100 | | | | | € | 93,458 | | | | | € | 92 | | |
Inventory adjustments (€)(ii)
|
| | | | 946 | | | | | | 3 | | | | | | (655) | | | | | | (1) | | | | | | 832 | | | | | | 1 | | | | | | (2,929) | | | | | | (3) | | |
Minesite operating costs (€)
|
| | | € | 43,197 | | | | | € | 104 | | | | | € | 48,895 | | | | | € | 88 | | | | | € | 91,834 | | | | | € | 101 | | | | | € | 90,529 | | | | | € | 89 | | |
Detour Lake mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
169,352
|
| |
195,515
|
| |
331,209
|
| |
295,958
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 112,796 | | | | | $ | 666 | | | | | $ | 137,429 | | | | | $ | 703 | | | | | $ | 226,818 | | | | | $ | 685 | | | | | $ | 257,394 | | | | | $ | 870 | | |
Inventory adjustments(ii)
|
| | | | (474) | | | | | | (3) | | | | | | 3,988 | | | | | | 20 | | | | | | (168) | | | | | | — | | | | | | (12,633) | | | | | | (43) | | |
Realized gains and losses on hedges of production costs
|
| | | | 2,541 | | | | | | 15 | | | | | | — | | | | | | — | | | | | | 6,095 | | | | | | 18 | | | | | | — | | | | | | — | | |
Purchase price allocation to inventory(iv)
|
| | | | — | | | | | | — | | | | | | (22,690) | | | | | | (116) | | | | | | — | | | | | | — | | | | | | (68,837) | | | | | | (233) | | |
Other adjustments(v)
|
| | | | 9,410 | | | | | | 56 | | | | | | 7,304 | | | | | | 38 | | | | | | 16,985 | | | | | | 51 | | | | | | 11,589 | | | | | | 40 | | |
Cash operating costs (co-product basis)
|
| | | $ | 124,273 | | | | | $ | 734 | | | | | $ | 126,031 | | | | | $ | 645 | | | | | $ | 249,730 | | | | | $ | 754 | | | | | $ | 187,513 | | | | | $ | 634 | | |
By-product metal revenues
|
| | | | (505) | | | | | | (3) | | | | | | (1,015) | | | | | | (5) | | | | | | (1,187) | | | | | | (4) | | | | | | (2,220) | | | | | | (8) | | |
Cash operating costs (by-product basis)
|
| | | $ | 123,768 | | | | | $ | 731 | | | | | $ | 125,016 | | | | | $ | 640 | | | | | $ | 248,543 | | | | | $ | 750 | | | | | $ | 185,293 | | | | | $ | 626 | | |
Detour Lake mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
6,800
|
| |
6,519
|
| |
13,197
|
| |
9,789
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne )
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 112,796 | | | | | $ | 17 | | | | | $ | 137,429 | | | | | $ | 21 | | | | | $ | 226,818 | | | | | $ | 17 | | | | | $ | 257,394 | | | | | $ | 26 | | |
Production costs (C$)
|
| | | $ | 151,645 | | | | | $ | 22 | | | | | $ | 175,421 | | | | | $ | 27 | | | | | $ | 305,553 | | | | | $ | 23 | | | | | $ | 327,239 | | | | | $ | 33 | | |
Inventory adjustments (C$)(ii)
|
| | | | 12,357 | | | | | | 2 | | | | | | 5,205 | | | | | | 1 | | | | | | 12,872 | | | | | | 1 | | | | | | (15,867) | | | | | | (2) | | |
Purchase price allocation to inventory (C$)(iv)
|
| | | | — | | | | | | — | | | | | | (29,108) | | | | | | (5) | | | | | | — | | | | | | — | | | | | | (87,508) | | | | | | (9) | | |
Other adjustments (C$)(v)
|
| | | | 11,381 | | | | | | 2 | | | | | | 9,349 | | | | | | 1 | | | | | | 20,146 | | | | | | 2 | | | | | | 14,749 | | | | | | 2 | | |
Minesite operating costs (C$)
|
| | | $ | 175,383 | | | | | $ | 26 | | | | | $ | 160,867 | | | | | $ | 24 | | | | | $ | 338,571 | | | | | $ | 26 | | | | | $ | 238,613 | | | | | $ | 24 | | |
Macassa mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
57,044
|
| |
61,262
|
| |
121,159
|
| |
85,750
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 38,545 | | | | | $ | 676 | | | | | $ | 33,001 | | | | | $ | 539 | | | | | $ | 76,504 | | | | | $ | 631 | | | | | $ | 65,315 | | | | | $ | 762 | | |
Inventory adjustments(ii)
|
| | | | (178) | | | | | | (3) | | | | | | 953 | | | | | | 16 | | | | | | (1,473) | | | | | | (11) | | | | | | (1,147) | | | | | | (13) | | |
Realized gains and losses on hedges of production costs
|
| | | | 812 | | | | | | 14 | | | | | | — | | | | | | — | | | | | | 1,949 | | | | | | 16 | | | | | | — | | | | | | — | | |
Purchase price allocation to inventory(iv)
|
| | | | — | | | | | | — | | | | | | 501 | | | | | | 8 | | | | | | — | | | | | | — | | | | | | (10,326) | | | | | | (120) | | |
Other adjustments(v)
|
| | | | 3,613 | | | | | | 63 | | | | | | 1,332 | | | | | | 21 | | | | | | 4,757 | | | | | | 39 | | | | | | 1,288 | | | | | | 14 | | |
Cash operating costs (co-product basis)
|
| | | $ | 42,792 | | | | | $ | 750 | | | | | $ | 35,787 | | | | | $ | 584 | | | | | $ | 81,737 | | | | | $ | 675 | | | | | $ | 55,130 | | | | | $ | 643 | | |
By-product metal revenues
|
| | | | (168) | | | | | | (3) | | | | | | (114) | | | | | | (2) | | | | | | (376) | | | | | | (3) | | | | | | (187) | | | | | | (2) | | |
Cash operating costs (by-product basis)
|
| | | $ | 42,624 | | | | | $ | 747 | | | | | $ | 35,673 | | | | | $ | 582 | | | | | $ | 81,361 | | | | | $ | 672 | | | | | $ | 54,943 | | | | | $ | 641 | | |
Macassa mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
112
|
| |
88
|
| |
199
|
| |
135
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne )
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne )
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 38,545 | | | | | $ | 344 | | | | | $ | 33,001 | | | | | $ | 374 | | | | | $ | 76,504 | | | | | $ | 384 | | | | | $ | 65,315 | | | | | $ | 483 | | |
Production costs (C$)
|
| | | $ | 51,994 | | | | | $ | 464 | | | | | $ | 42,211 | | | | | $ | 479 | | | | | $ | 103,236 | | | | | $ | 519 | | | | | $ | 83,041 | | | | | $ | 615 | | |
Inventory adjustments (C$)(ii)
|
| | | | (359) | | | | | | (3) | | | | | | 1,278 | | | | | | 14 | | | | | | (2,076) | | | | | | (10) | | | | | | (1,366) | | | | | | (10) | | |
Purchase price allocation to inventory (C$)(iv)
|
| | | | — | | | | | | — | | | | | | 450 | | | | | | 5 | | | | | | — | | | | | | — | | | | | | (13,128) | | | | | | (97) | | |
Other adjustments (C$)(v)
|
| | | | 4,775 | | | | | | 42 | | | | | | 1,725 | | | | | | 21 | | | | | | 6,291 | | | | | | 30 | | | | | | 1,657 | | | | | | 12 | | |
Minesite operating costs (C$)
|
| | | $ | 56,410 | | | | | $ | 503 | | | | | $ | 45,664 | | | | | $ | 519 | | | | | $ | 107,451 | | | | | $ | 539 | | | | | $ | 70,204 | | | | | $ | 520 | | |
Fosterville mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
81,813
|
| |
86,065
|
| |
168,371
|
| |
167,892
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 35,831 | | | | | $ | 438 | | | | | $ | 48,303 | | | | | $ | 561 | | | | | $ | 72,430 | | | | | $ | 430 | | | | | $ | 136,304 | | | | | $ | 812 | | |
Inventory adjustments(ii)
|
| | | | (522) | | | | | | (6) | | | | | | (970) | | | | | | (12) | | | | | | (2,885) | | | | | | (17) | | | | | | (6,809) | | | | | | (41) | | |
Realized gains and losses on hedges of production costs
|
| | | | 489 | | | | | | 6 | | | | | | — | | | | | | — | | | | | | 677 | | | | | | 4 | | | | | | — | | | | | | — | | |
Purchase price allocation to inventory(iv)
|
| | | | — | | | | | | — | | | | | | (16,997) | | | | | | (197) | | | | | | — | | | | | | — | | | | | | (73,674) | | | | | | (439) | | |
Other adjustments(v)
|
| | | | (7) | | | | | | (1) | | | | | | — | | | | | | — | | | | | | 39 | | | | | | — | | | | | | — | | | | | | — | | |
Cash operating costs (co-product basis)
|
| | | $ | 35,791 | | | | | $ | 437 | | | | | $ | 30,336 | | | | | $ | 352 | | | | | $ | 70,261 | | | | | $ | 417 | | | | | $ | 55,821 | | | | | $ | 332 | | |
By-product metal revenues
|
| | | | (121) | | | | | | (1) | | | | | | (125) | | | | | | (1) | | | | | | (278) | | | | | | (1) | | | | | | (313) | | | | | | (1) | | |
Cash operating costs (by-product basis)
|
| | | $ | 35,670 | | | | | $ | 436 | | | | | $ | 30,211 | | | | | $ | 351 | | | | | $ | 69,983 | | | | | $ | 416 | | | | | $ | 55,508 | | | | | $ | 331 | | |
Fosterville mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
176
|
| |
122
|
| |
324
|
| |
213
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 35,831 | | | | | $ | 204 | | | | | $ | 48,303 | | | | | $ | 396 | | | | | $ | 72,430 | | | | | $ | 224 | | | | | $ | 136,304 | | | | | $ | 641 | | |
Production costs (A$)
|
| | | A$ | 54,280 | | | | | A$ | 308 | | | | | A$ | 71,814 | | | | | A$ | 597 | | | | | A$ | 108,462 | | | | | A$ | 335 | | | | | A$ | 189,040 | | | | | A$ | 890 | | |
Inventory adjustments (A$)(ii)
|
| | | | (756) | | | | | | (4) | | | | | | (1,204) | | | | | | (9) | | | | | | (4,357) | | | | | | (14) | | | | | | (9,409) | | | | | | (43) | | |
Purchase price allocation to inventory (A$)(iv)
|
| | | | — | | | | | | — | | | | | | (26,678) | | | | | | (218) | | | | | | — | | | | | | — | | | | | | (102,178) | | | | | | (478) | | |
Minesite operating costs (A$)
|
| | | A$ | 53,524 | | | | | A$ | 304 | | | | | A$ | 43,932 | | | | | A$ | 370 | | | | | A$ | 104,105 | | | | | A$ | 321 | | | | | A$ | 77,453 | | | | | A$ | 369 | | |
Pinos Altos mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
22,159
|
| |
23,020
|
| |
46,293
|
| |
48,190
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 34,709 | | | | | $ | 1,566 | | | | | $ | 39,873 | | | | | $ | 1,732 | | | | | $ | 67,631 | | | | | $ | 1,461 | | | | | $ | 72,409 | | | | | $ | 1,503 | | |
Inventory adjustments(ii)
|
| | | | 761 | | | | | | 34 | | | | | | (2,955) | | | | | | (128) | | | | | | 513 | | | | | | 11 | | | | | | (2,156) | | | | | | (45) | | |
Realized gains and losses on hedges of production costs
|
| | | | (690) | | | | | | (31) | | | | | | (313) | | | | | | (14) | | | | | | (1,143) | | | | | | (25) | | | | | | (547) | | | | | | (11) | | |
Other adjustments(v)
|
| | | | 286 | | | | | | 13 | | | | | | 322 | | | | | | 14 | | | | | | 578 | | | | | | 13 | | | | | | 625 | | | | | | 12 | | |
Cash operating costs (co-product basis)
|
| | | $ | 35,066 | | | | | $ | 1,582 | | | | | $ | 36,927 | | | | | $ | 1,604 | | | | | $ | 67,579 | | | | | $ | 1,460 | | | | | $ | 70,331 | | | | | $ | 1,459 | | |
By-product metal revenues
|
| | | | (6,653) | | | | | | (300) | | | | | | (5,082) | | | | | | (221) | | | | | | (12,227) | | | | | | (264) | | | | | | (11,345) | | | | | | (235) | | |
Cash operating costs (by-product basis)
|
| | | $ | 28,413 | | | | | $ | 1,282 | | | | | $ | 31,845 | | | | | $ | 1,383 | | | | | $ | 55,352 | | | | | $ | 1,196 | | | | | $ | 58,986 | | | | | $ | 1,224 | | |
Pinos Altos mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore processed (thousands of
tonnes) |
| |
401
|
| |
366
|
| |
765
|
| |
750
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 34,709 | | | | | $ | 87 | | | | | $ | 39,873 | | | | | $ | 109 | | | | | $ | 67,631 | | | | | $ | 88 | | | | | $ | 72,409 | | | | | $ | 97 | | |
Inventory adjustments(ii)
|
| | | | 1,905 | | | | | | 3 | | | | | | (2,955) | | | | | | (8) | | | | | | 1,657 | | | | | | 3 | | | | | | (2,156) | | | | | | (3) | | |
Minesite operating costs
|
| | | $ | 36,614 | | | | | $ | 90 | | | | | $ | 36,918 | | | | | $ | 101 | | | | | $ | 69,288 | | | | | $ | 91 | | | | | $ | 70,253 | | | | | $ | 94 | | |
Creston Mascota mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
165
|
| |
635
|
| |
409
|
| |
1,641
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | — | | | | | $ | — | | | | | $ | 484 | | | | | $ | 762 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,099 | | | | | $ | 670 | | |
Inventory adjustments(ii)
|
| | | | — | | | | | | — | | | | | | 60 | | | | | | 95 | | | | | | — | | | | | | — | | | | | | (27) | | | | | | (16) | | |
Other adjustments(v)
|
| | | | — | | | | | | — | | | | | | 30 | | | | | | 49 | | | | | | — | | | | | | — | | | | | | 48 | | | | | | 29 | | |
Cash operating costs (co-product basis)
|
| | | $ | — | | | | | $ | — | | | | | $ | 574 | | | | | $ | 906 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,120 | | | | | $ | 683 | | |
By-product metal revenues
|
| | | | — | | | | | | — | | | | | | (5) | | | | | | (7) | | | | | | — | | | | | | — | | | | | | (140) | | | | | | (85) | | |
Cash operating costs (by-product basis)
|
| | | $ | — | | | | | $ | — | | | | | $ | 569 | | | | | $ | 899 | | | | | $ | — | | | | | $ | — | | | | | $ | 980 | | | | | $ | 598 | | |
Creston Mascota mine
Per Tonne(vi) |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore processed (thousands of tonnes)
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | — | | | | | $ | — | | | | | $ | 484 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 1,099 | | | | | $ | — | | |
Inventory adjustments(ii)
|
| | | | — | | | | | | — | | | | | | 60 | | | | | | — | | | | | | — | | | | | | — | | | | | | (27) | | | | | | — | | |
Other adjustments(v)
|
| | | | — | | | | | | — | | | | | | (544) | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,072) | | | | | | — | | |
Minesite operating costs
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
La India mine
Per Ounce of Gold Produced |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
17,833
|
| |
20,016
|
| |
34,154
|
| |
41,718
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 23,649 | | | | | $ | 1,326 | | | | | $ | 17,455 | | | | | $ | 872 | | | | | $ | 43,741 | | | | | $ | 1,281 | | | | | $ | 35,190 | | | | | $ | 844 | | |
Inventory adjustments(ii)
|
| | | | 1,318 | | | | | | 74 | | | | | | 1,564 | | | | | | 78 | | | | | | 2,766 | | | | | | 80 | | | | | | 2,132 | | | | | | 51 | | |
Other adjustments(v)
|
| | | | 134 | | | | | | 8 | | | | | | 177 | | | | | | 9 | | | | | | 263 | | | | | | 8 | | | | | | 373 | | | | | | 9 | | |
Cash operating costs (co-product basis)
|
| | | $ | 25,101 | | | | | $ | 1,408 | | | | | $ | 19,196 | | | | | $ | 959 | | | | | $ | 46,770 | | | | | $ | 1,369 | | | | | $ | 37,695 | | | | | $ | 904 | | |
By-product metal revenues
|
| | | | (407) | | | | | | (23) | | | | | | (451) | | | | | | (23) | | | | | | (722) | | | | | | (21) | | | | | | (1,159) | | | | | | (28) | | |
Cash operating costs (by-product basis)
|
| | | $ | 24,694 | | | | | $ | 1,385 | | | | | $ | 18,745 | | | | | $ | 936 | | | | | $ | 46,048 | | | | | $ | 1,348 | | | | | $ | 36,536 | | | | | $ | 876 | | |
La India mine
Per Tonne |
| |
Three Months Ended
June 30, 2023 |
| |
Three Months Ended
June 30, 2022 |
| |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore processed (thousands of tonnes)
|
| |
880
|
| |
1,356
|
| |
1,540
|
| |
2,919
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 23,649 | | | | | $ | 27 | | | | | $ | 17,455 | | | | | $ | 13 | | | | | $ | 43,741 | | | | | $ | 28 | | | | | $ | 35,190 | | | | | $ | 12 | | |
Inventory adjustments(ii)
|
| | | | 1,318 | | | | | | 1 | | | | | | 1,564 | | | | | | 1 | | | | | | 2,766 | | | | | | 2 | | | | | | 2,132 | | | | | | 1 | | |
Minesite operating costs
|
| | | $ | 24,967 | | | | | $ | 28 | | | | | $ | 19,019 | | | | | $ | 14 | | | | | $ | 46,507 | | | | | $ | 30 | | | | | $ | 37,322 | | | | | $ | 13 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
(United States dollars per ounce of gold produced, except where noted)
|
| |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
Production costs per the condensed interim consolidated statements of income
(thousands of United States dollars) |
| | | $ | 743,253 | | | | | $ | 657,636 | | | | | $ | 1,396,397 | | | | | $ | 1,319,371 | | |
Gold production (ounces)
|
| | | | 873,204 | | | | | | 858,170 | | | | | | 1,686,017 | | | | | | 1,518,774 | | |
Production costs per ounce of adjusted gold production
|
| | | $ | 851 | | | | | $ | 766 | | | | | $ | 828 | | | | | $ | 869 | | |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | |
Inventory adjustments(i)
|
| | | | 1 | | | | | | 14 | | | | | | 14 | | | | | | 12 | | |
Purchase price allocation to inventory(ii)
|
| | | | (26) | | | | | | (46) | | | | | | (13) | | | | | | (101) | | |
Realized gains and losses on hedges of production costs
|
| | | | 1 | | | | | | (2) | | | | | | 3 | | | | | | (3) | | |
Operational care and maintenance costs due to COVID-19(iii)
|
| | | | — | | | | | | — | | | | | | — | | | | | | (1) | | |
Other(iv)
|
| | | | 43 | | | | | | 26 | | | | | | 34 | | | | | | 24 | | |
Total cash costs per ounce of gold produced (co-product basis)(v)
|
| | | $ | 870 | | | | | $ | 758 | | | | | $ | 866 | | | | | $ | 800 | | |
By-product metal revenues
|
| | | | (30) | | | | | | (32) | | | | | | (30) | | | | | | (37) | | |
Total cash costs per ounce of gold produced (by-product basis)(v)
|
| | | $ | 840 | | | | | $ | 726 | | | | | $ | 836 | | | | | $ | 763 | | |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | |
Sustaining capital expenditures (including capitalized exploration)
|
| | | | 237 | | | | | | 231 | | | | | | 226 | | | | | | 197 | | |
General and administrative expenses (including stock option expense)
|
| | | | 54 | | | | | | 57 | | | | | | 57 | | | | | | 77 | | |
Non-cash reclamation provision and sustaining leases(vi)
|
| | | | 19 | | | | | | 12 | | | | | | 19 | | | | | | 14 | | |
All-in sustaining costs per ounce of gold produced (by-product basis)
|
| | | $ | 1,150 | | | | | $ | 1,026 | | | | | $ | 1,138 | | | | | $ | 1,051 | | |
By-product metal revenues
|
| | | | 30 | | | | | | 32 | | | | | | 30 | | | | | | 37 | | |
All-in sustaining costs per ounce of gold produced (co-product basis)
|
| | | $ | 1,180 | | | | | $ | 1,058 | | | | | $ | 1,168 | | | | | $ | 1,088 | | |
| | |
Three Months Ended June 30, 2023
|
| |||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Operating
Margin |
| |||||||||
LaRonde mine
|
| | | $ | 133,865 | | | | | $ | (63,969) | | | | | $ | 69,896 | | |
LaRonde Zone 5 mine
|
| | | | 36,558 | | | | | | (21,763) | | | | | | 14,795 | | |
Canadian Malartic complex(ii)
|
| | | | 335,871 | | | | | | (144,190) | | | | | | 191,681 | | |
Goldex mine
|
| | | | 73,272 | | | | | | (28,160) | | | | | | 45,112 | | |
Meliadine mine
|
| | | | 157,179 | | | | | | (78,817) | | | | | | 78,362 | | |
Meadowbank complex
|
| | | | 195,856 | | | | | | (117,488) | | | | | | 78,368 | | |
Kittila mine
|
| | | | 102,868 | | | | | | (43,336) | | | | | | 59,532 | | |
Detour Lake mine
|
| | | | 317,068 | | | | | | (112,796) | | | | | | 204,272 | | |
Macassa mine
|
| | | | 112,879 | | | | | | (38,545) | | | | | | 74,334 | | |
Fosterville mine
|
| | | | 168,074 | | | | | | (35,831) | | | | | | 132,243 | | |
Pinos Altos mine
|
| | | | 50,389 | | | | | | (34,709) | | | | | | 15,680 | | |
La India mine
|
| | | | 34,318 | | | | | | (23,649) | | | | | | 10,669 | | |
Segment totals
|
| | | $ | 1,718,197 | | | | | $ | (743,253) | | | | | $ | 974,944 | | |
Corporate and other: | | | | | | | | | | ||||||||||
Exploration and corporate development | | | | | 54,422 | | | ||||||||||||
Amortization of property, plant, and mine development | | | | | 381,262 | | | ||||||||||||
General and administrative | | | | | 47,312 | | | ||||||||||||
Finance costs | | | | | 35,837 | | | ||||||||||||
Gain on derivative financial instruments | | | | | (26,433) | | | ||||||||||||
Environmental remediation | | | | | (1,420) | | | ||||||||||||
Foreign currency translation loss | | | | | 4,014 | | | ||||||||||||
Care and maintenance | | | | | 9,411 | | | ||||||||||||
Other expenses | | | | | 4,199 | | | ||||||||||||
Income and mining taxes expense | | | | | 139,519 | | | ||||||||||||
Net income per condensed interim consolidated statements of income | | | | $ | 326,821 | | |
| | |
Six Months Ended June 30, 2023
|
| |||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Operating
Margin |
| |||||||||
LaRonde mine
|
| | | $ | 236,085 | | | | | $ | (103,676) | | | | | $ | 132,409 | | |
LaRonde Zone 5 mine
|
| | | | 66,080 | | | | | | (43,987) | | | | | | 22,093 | | |
Canadian Malartic complex(ii)
|
| | | | 473,945 | | | | | | (201,481) | | | | | | 272,464 | | |
Goldex mine
|
| | | | 141,335 | | | | | | (55,995) | | | | | | 85,340 | | |
Meliadine mine
|
| | | | 326,713 | | | | | | (160,011) | | | | | | 166,702 | | |
Meadowbank complex
|
| | | | 405,669 | | | | | | (247,492) | | | | | | 158,177 | | |
Kittila mine
|
| | | | 218,887 | | | | | | (96,631) | | | | | | 122,256 | | |
Detour Lake mine
|
| | | | 623,663 | | | | | | (226,818) | | | | | | 396,845 | | |
Macassa mine
|
| | | | 230,738 | | | | | | (76,504) | | | | | | 154,234 | | |
Fosterville mine
|
| | | | 337,375 | | | | | | (72,430) | | | | | | 264,945 | | |
Pinos Altos mine
|
| | | | 101,837 | | | | | | (67,631) | | | | | | 34,206 | | |
La India mine
|
| | | | 65,531 | | | | | | (43,741) | | | | | | 21,790 | | |
Segment totals
|
| | | $ | 3,227,858 | | | | | $ | (1,396,397) | | | | | $ | 1,831,461 | | |
Corporate and other: | | | | | | | | | | | | | | | | | | | |
Exploration and corporate development | | | | | 108,190 | | | ||||||||||||
Amortization of property, plant, and mine development | | | | | 685,221 | | | ||||||||||||
General and administrative | | | | | 95,520 | | | ||||||||||||
Finance costs | | | | | 59,285 | | | ||||||||||||
Gain on derivative financial instruments | | | | | (32,972) | | | ||||||||||||
Environmental remediation | | | | | (1,977) | | | ||||||||||||
Foreign currency translation loss | | | | | 4,234 | | | ||||||||||||
Care and maintenance | | | | | 20,656 | | | ||||||||||||
Revaluation gain | | | | | (1,543,414) | | | ||||||||||||
Other expenses | | | | | 24,879 | | | ||||||||||||
Income and mining taxes expense | | | | | 268,127 | | | ||||||||||||
Net income per consolidated interim condensed statements of income | | | | $ | 2,143,712 | | |
| | |
Three Months Ended June 30, 2022
|
| |||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Operating
Margin |
| |||||||||
LaRonde mine
|
| | | $ | 124,826 | | | | | $ | (33,949) | | | | | $ | 90,877 | | |
LaRonde Zone 5 mine
|
| | | | 24,999 | | | | | | (17,133) | | | | | | 7,866 | | |
Canadian Malartic complex(ii)
|
| | | | 160,866 | | | | | | (56,405) | | | | | | 104,461 | | |
Goldex mine
|
| | | | 68,186 | | | | | | (26,530) | | | | | | 41,656 | | |
Meliadine mine
|
| | | | 183,126 | | | | | | (86,386) | | | | | | 96,740 | | |
Meadowbank complex
|
| | | | 175,417 | | | | | | (107,373) | | | | | | 68,044 | | |
Kittila mine
|
| | | | 120,926 | | | | | | (53,315) | | | | | | 67,611 | | |
Detour Lake mine
|
| | | | 352,270 | | | | | | (137,429) | | | | | | 214,841 | | |
Macassa mine
|
| | | | 107,779 | | | | | | (33,001) | | | | | | 74,778 | | |
Fosterville mine
|
| | | | 173,745 | | | | | | (48,303) | | | | | | 125,442 | | |
Pinos Altos mine
|
| | | | 51,360 | | | | | | (39,873) | | | | | | 11,487 | | |
Creston Mascota mine
|
| | | | 1,126 | | | | | | (484) | | | | | | 642 | | |
La India mine
|
| | | | 36,432 | | | | | | (17,455) | | | | | | 18,977 | | |
Segment totals
|
| | | $ | 1,581,058 | | | | | $ | (657,636) | | | | | $ | 923,422 | | |
Corporate and other: | | | | | | | | | | | | | | | | | | | |
Exploration and corporate development | | | | | 70,352 | | | ||||||||||||
Amortization of property, plant, and mine development | | | | | 269,891 | | | ||||||||||||
General and administrative | | | | | 49,275 | | | ||||||||||||
Finance costs | | | | | 20,961 | | | ||||||||||||
Loss on derivative financial instruments | | | | | 40,753 | | | ||||||||||||
Environmental remediation | | | | | (319) | | | ||||||||||||
Foreign currency translation gain | | | | | (13,492) | | | ||||||||||||
Care and maintenance | | | | | 9,257 | | | ||||||||||||
Other expenses | | | | | 19,893 | | | ||||||||||||
Income and mining taxes expense | | | | | 166,462 | | | ||||||||||||
Net income per condensed interim consolidated statements of income | | | | $ | 290,389 | | |
| | |
Six Months Ended June 30, 2022
|
| |||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Operating
Margin |
| |||||||||
LaRonde mine
|
| | | $ | 274,231 | | | | | $ | (79,790) | | | | | $ | 194,441 | | |
LaRonde Zone 5 mine
|
| | | | 58,388 | | | | | | (33,866) | | | | | | 24,522 | | |
Canadian Malartic complex(ii)
|
| | | | 297,105 | | | | | | (113,342) | | | | | | 183,763 | | |
Goldex mine
|
| | | | 131,521 | | | | | | (52,747) | | | | | | 78,774 | | |
Meliadine mine(i)
|
| | | | 346,084 | | | | | | (165,065) | | | | | | 181,019 | | |
Meadowbank complex(i)
|
| | | | 266,930 | | | | | | (204,084) | | | | | | 62,846 | | |
Hope Bay mine
|
| | | | 144 | | | | | | — | | | | | | 144 | | |
Kittila mine
|
| | | | 216,488 | | | | | | (102,766) | | | | | | 113,722 | | |
Detour Lake mine
|
| | | | 600,293 | | | | | | (257,394) | | | | | | 342,899 | | |
Macassa mine
|
| | | | 164,248 | | | | | | (65,315) | | | | | | 98,933 | | |
Fosterville mine
|
| | | | 368,602 | | | | | | (136,304) | | | | | | 232,298 | | |
Pinos Altos mine
|
| | | | 103,327 | | | | | | (72,409) | | | | | | 30,918 | | |
Creston Mascota mine
|
| | | | 2,918 | | | | | | (1,099) | | | | | | 1,819 | | |
La India mine
|
| | | | 76,467 | | | | | | (35,190) | | | | | | 41,277 | | |
Segment totals
|
| | | $ | 2,906,746 | | | | | $ | (1,319,371) | | | | | $ | 1,587,375 | | |
Corporate and other: | | | | | | | | | | | | | | | | | | | |
Exploration and corporate development | | | | | 136,194 | | | ||||||||||||
Amortization of property, plant, and mine development(i) | | | | | 525,535 | | | ||||||||||||
General and administrative | | | | | 116,817 | | | ||||||||||||
Finance costs | | | | | 43,614 | | | ||||||||||||
Loss on derivative financial instruments | | | | | 12,089 | | | ||||||||||||
Environmental remediation | | | | | (2,618) | | | ||||||||||||
Foreign currency translation gain | | | | | (12,282) | | | ||||||||||||
Care and maintenance | | | | | 19,713 | | | ||||||||||||
Other expenses | | | | | 111,791 | | | ||||||||||||
Income and mining taxes expense | | | | | 227,057 | | | ||||||||||||
Net income per consolidated interim condensed statements of income | | | | $ | 409,465 | | |
| | |
Three Months Ended June 30,
|
| |
Six Months Ended June 30,
|
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
LaRonde mine
|
| | | | 18,114 | | | | | | 23,118 | | | | | | 33,001 | | | | | | 41,784 | | |
LaRonde Zone 5 mine
|
| | | | 2,315 | | | | | | 2,580 | | | | | | 3,422 | | | | | | 5,317 | | |
Canadian Malartic complex(i)
|
| | | | 34,086 | | | | | | 16,346 | | | | | | 50,670 | | | | | | 27,080 | | |
Goldex mine
|
| | | | 3,638 | | | | | | 6,559 | | | | | | 8,460 | | | | | | 13,186 | | |
Meliadine mine
|
| | | | 15,704 | | | | | | 16,104 | | | | | | 30,790 | | | | | | 25,185 | | |
Meadowbank complex
|
| | | | 35,624 | | | | | | 13,367 | | | | | | 71,255 | | | | | | 24,171 | | |
Hope Bay mine
|
| | | | 145 | | | | | | 3,604 | | | | | | 147 | | | | | | 3,604 | | |
Kittila mine
|
| | | | 11,958 | | | | | | 11,468 | | | | | | 22,293 | | | | | | 22,818 | | |
Detour Lake mine
|
| | | | 60,678 | | | | | | 73,974 | | | | | | 113,962 | | | | | | 86,616 | | |
Macassa mine
|
| | | | 8,896 | | | | | | 8,867 | | | | | | 15,544 | | | | | | 13,524 | | |
Fosterville mine
|
| | | | 7,298 | | | | | | 13,598 | | | | | | 15,267 | | | | | | 22,305 | | |
Pinos Altos mine
|
| | | | 8,407 | | | | | | 7,124 | | | | | | 16,657 | | | | | | 12,031 | | |
La India mine
|
| | | | 51 | | | | | | 1,315 | | | | | | 77 | | | | | | 2,129 | | |
Sustaining capital expenditures
|
| | | | 206,914 | | | | | | 198,024 | | | | | | 381,545 | | | | | | 299,750 | | |
LaRonde mine
|
| | | | 12,413 | | | | | | 14,723 | | | | | | 21,760 | | | | | | 27,186 | | |
LaRonde Zone 5 mine
|
| | | | 5,400 | | | | | | 3,267 | | | | | | 11,347 | | | | | | 6,701 | | |
Canadian Malartic complex(i)
|
| | | | 48,918 | | | | | | 29,335 | | | | | | 79,939 | | | | | | 52,087 | | |
Goldex mine
|
| | | | 8,838 | | | | | | 7,448 | | | | | | 18,127 | | | | | | 13,056 | | |
Akasaba mine
|
| | | | 8,706 | | | | | | — | | | | | | 19,075 | | | | | | — | | |
Meliadine mine
|
| | | | 37,274 | | | | | | 21,900 | | | | | | 55,154 | | | | | | 35,505 | | |
Meadowbank complex
|
| | | | — | | | | | | 291 | | | | | | — | | | | | | 1,110 | | |
Amaruq Underground Project
|
| | | | (21) | | | | | | 18,321 | | | | | | 310 | | | | | | 33,682 | | |
Hope Bay mine
|
| | | | 2,724 | | | | | | 1,968 | | | | | | 3,199 | | | | | | 1,968 | | |
Kittila mine
|
| | | | 10,546 | | | | | | 14,968 | | | | | | 21,242 | | | | | | 25,504 | | |
Detour Lake mine
|
| | | | 33,590 | | | | | | 42,400 | | | | | | 64,665 | | | | | | 71,260 | | |
Macassa mine
|
| | | | 23,660 | | | | | | 26,385 | | | | | | 52,073 | | | | | | 43,441 | | |
Fosterville mine
|
| | | | 13,300 | | | | | | 11,270 | | | | | | 22,404 | | | | | | 19,753 | | |
Pinos Altos mine
|
| | | | 1,693 | | | | | | 7,891 | | | | | | 4,486 | | | | | | 13,809 | | |
La India mine
|
| | | | — | | | | | | 2,479 | | | | | | — | | | | | | 4,320 | | |
Other
|
| | | | 2,092 | | | | | | 900 | | | | | | 2,455 | | | | | | 2,523 | | |
Development capital expenditures
|
| | | | 209,133 | | | | | | 203,546 | | | | | | 376,236 | | | | | | 351,905 | | |
Total capital expenditures
|
| | | | 416,047 | | | | | | 401,570 | | | | | | 757,781 | | | | | | 651,655 | | |
Working capital adjustments
|
| | | | 7,574 | | | | | | 7,026 | | | | | | 50,774 | | | | | | 50,092 | | |
Additions to property, plant and mine development per the
condensed interim consolidated statements of cash flow |
| | | | 423,621 | | | | | | 408,596 | | | | | | 808,555 | | | | | | 701,747 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022(i)
|
| |
2023
|
| |
2022(i)
|
| ||||||||||||
Operating margin(ii): | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues from mining operations
|
| | | $ | 1,718,197 | | | | | $ | 1,581,058 | | | | | $ | 3,227,858 | | | | | $ | 2,906,746 | | |
Production costs
|
| | | | 743,253 | | | | | | 657,636 | | | | | | 1,396,397 | | | | | | 1,319,371 | | |
Total operating margin(ii)
|
| | | | 974,944 | | | | | | 923,422 | | | | | | 1,831,461 | | | | | | 1,587,375 | | |
Operating margin(ii) by mine: | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | $ | 69,896 | | | | | $ | 90,877 | | | | | $ | 132,409 | | | | | $ | 194,441 | | |
LaRonde Zone 5 mine
|
| | | | 14,795 | | | | | | 7,866 | | | | | | 22,093 | | | | | | 24,522 | | |
Canadian Malartic complex(iii)
|
| | | | 191,681 | | | | | | 104,461 | | | | | | 272,464 | | | | | | 183,763 | | |
Goldex mine
|
| | | | 45,112 | | | | | | 41,656 | | | | | | 85,340 | | | | | | 78,774 | | |
Meliadine mine
|
| | | | 78,362 | | | | | | 96,740 | | | | | | 166,702 | | | | | | 181,019 | | |
Meadowbank complex
|
| | | | 78,368 | | | | | | 68,044 | | | | | | 158,177 | | | | | | 62,846 | | |
Hope Bay project
|
| | | | — | | | | | | — | | | | | | — | | | | | | 144 | | |
Kittila mine
|
| | | | 59,532 | | | | | | 67,611 | | | | | | 122,256 | | | | | | 113,722 | | |
Detour Lake mine
|
| | | | 204,272 | | | | | | 214,841 | | | | | | 396,845 | | | | | | 342,899 | | |
Macassa mine
|
| | | | 74,334 | | | | | | 74,778 | | | | | | 154,234 | | | | | | 98,933 | | |
Fosterville mine
|
| | | | 132,243 | | | | | | 125,442 | | | | | | 264,945 | | | | | | 232,298 | | |
Pinos Altos mine
|
| | | | 15,680 | | | | | | 11,487 | | | | | | 34,206 | | | | | | 30,918 | | |
Creston Mascota mine
|
| | | | — | | | | | | 642 | | | | | | — | | | | | | 1,819 | | |
La India mine
|
| | | | 10,669 | | | | | | 18,977 | | | | | | 21,790 | | | | | | 41,277 | | |
Total operating margin(ii)
|
| | | | 974,944 | | | | | | 923,422 | | | | | | 1,831,461 | | | | | | 1,587,375 | | |
Amortization of property, plant and mine development
|
| | | | 381,262 | | | | | | 269,891 | | | | | | 685,221 | | | | | | 525,535 | | |
Revaluation gain(iv)
|
| | | | — | | | | | | — | | | | | | (1,543,414) | | | | | | — | | |
Exploration, corporate and other
|
| | | | 127,342 | | | | | | 196,680 | | | | | | 277,815 | | | | | | 425,318 | | |
Income before income and mining taxes
|
| | | | 466,340 | | | | | | 456,851 | | | | | | 2,411,839 | | | | | | 636,522 | | |
Income and mining taxes expense
|
| | | | 139,519 | | | | | | 166,462 | | | | | | 268,127 | | | | | | 227,057 | | |
Net income for the period
|
| | | $ | 326,821 | | | | | $ | 290,389 | | | | | $ | 2,143,712 | | | | | $ | 409,465 | | |
Net income per share — basic
|
| | | $ | 0.66 | | | | | $ | 0.64 | | | | | $ | 4.45 | | | | | $ | 0.97 | | |
Net income per share — diluted
|
| | | $ | 0.66 | | | | | $ | 0.63 | | | | | $ | 4.43 | | | | | $ | 0.97 | | |
Cash flows: | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash provided by operating activities
|
| | | $ | 722,000 | | | | | $ | 633,266 | | | | | $ | 1,371,613 | | | | | $ | 1,140,698 | | |
Cash (used in) provided by investing activities
|
| | | $ | (450,202) | | | | | $ | (394,129) | | | | | $ | (1,848,947) | | | | | $ | 141,523 | | |
Cash (used in) provided by financing activities
|
| | | $ | (582,351) | | | | | $ | (294,307) | | | | | $ | 254,082 | | | | | $ | (462,165) | | |
Realized prices: | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold (per ounce)
|
| | | $ | 1,975 | | | | | $ | 1,866 | | | | | $ | 1,935 | | | | | $ | 1,872 | | |
Silver (per ounce)
|
| | | $ | 24.43 | | | | | $ | 22.21 | | | | | $ | 23.72 | | | | | $ | 23.20 | | |
Zinc (per tonne)
|
| | | $ | 2,343 | | | | | $ | 3,947 | | | | | $ | 2,685 | | | | | $ | 3,769 | | |
Copper (per tonne)
|
| | | $ | 7,898 | | | | | $ | 8,953 | | | | | $ | 8,590 | | | | | $ | 9,591 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
Payable production(v): | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold (ounces): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | | 58,635 | | | | | | 70,736 | | | | | | 118,168 | | | | | | 158,285 | | |
LaRonde Zone 5 mine
|
| | | | 18,145 | | | | | | 17,774 | | | | | | 38,219 | | | | | | 35,262 | | |
Canadian Malartic complex(iii)
|
| | | | 177,755 | | | | | | 87,186 | | | | | | 258,440 | | | | | | 167,695 | | |
Goldex mine
|
| | | | 37,716 | | | | | | 36,877 | | | | | | 71,739 | | | | | | 71,322 | | |
Meliadine mine
|
| | | | 87,682 | | | | | | 97,572 | | | | | | 178,149 | | | | | | 178,276 | | |
Meadowbank complex
|
| | | | 94,775 | | | | | | 96,698 | | | | | | 205,885 | | | | | | 156,463 | | |
Kittila mine
|
| | | | 50,130 | | | | | | 64,814 | | | | | | 113,822 | | | | | | 110,322 | | |
Detour Lake mine
|
| | | | 169,352 | | | | | | 195,515 | | | | | | 331,209 | | | | | | 295,958 | | |
Macassa mine
|
| | | | 57,044 | | | | | | 61,262 | | | | | | 121,159 | | | | | | 85,750 | | |
Fosterville mine
|
| | | | 81,813 | | | | | | 86,065 | | | | | | 168,371 | | | | | | 167,892 | | |
Pinos Altos mine
|
| | | | 22,159 | | | | | | 23,020 | | | | | | 46,293 | | | | | | 48,190 | | |
Creston Mascota mine
|
| | | | 165 | | | | | | 635 | | | | | | 409 | | | | | | 1,641 | | |
La India mine
|
| | | | 17,833 | | | | | | 20,016 | | | | | | 34,154 | | | | | | 41,718 | | |
Total gold (ounces)
|
| | | | 873,204 | | | | | | 858,170 | | | | | | 1,686,017 | | | | | | 1,518,774 | | |
Silver (thousands of ounces):
|
| | | | 619 | | | | | | 588 | | | | | | 1,164 | | | | | | 1,197 | | |
Zinc (tonnes)
|
| | | | 2,611 | | | | | | 2,568 | | | | | | 4,898 | | | | | | 3,637 | | |
Copper (tonnes)
|
| | | | 746 | | | | | | 778 | | | | | | 1,276 | | | | | | 1,547 | | |
Payable metal sold(vi): | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold (ounces): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | | 61,920 | | | | | | 61,296 | | | | | | 110,082 | | | | | | 132,263 | | |
LaRonde Zone 5 mine
|
| | | | 18,923 | | | | | | 13,538 | | | | | | 34,384 | | | | | | 31,133 | | |
Canadian Malartic complex(iii)
|
| | | | 168,257 | | | | | | 85,160 | | | | | | 240,066 | | | | | | 157,428 | | |
Goldex mine
|
| | | | 37,114 | | | | | | 36,681 | | | | | | 73,031 | | | | | | 70,565 | | |
Meliadine mine
|
| | | | 79,153 | | | | | | 97,354 | | | | | | 168,739 | | | | | | 185,126 | | |
Meadowbank complex
|
| | | | 98,980 | | | | | | 93,737 | | | | | | 209,005 | | | | | | 142,492 | | |
Hope Bay mine
|
| | | | — | | | | | | — | | | | | | — | | | | | | 98 | | |
Kittila mine
|
| | | | 51,800 | | | | | | 64,378 | | | | | | 112,520 | | | | | | 115,993 | | |
Detour Lake mine
|
| | | | 160,281 | | | | | | 188,517 | | | | | | 323,575 | | | | | | 320,354 | | |
Macassa mine
|
| | | | 57,102 | | | | | | 58,050 | | | | | | 120,030 | | | | | | 87,580 | | |
Fosterville mine
|
| | | | 85,500 | | | | | | 93,177 | | | | | | 174,500 | | | | | | 195,127 | | |
Pinos Altos mine
|
| | | | 22,355 | | | | | | 24,730 | | | | | | 46,591 | | | | | | 49,517 | | |
Creston Mascota mine
|
| | | | — | | | | | | 599 | | | | | | — | | | | | | 1,454 | | |
La India mine
|
| | | | 17,463 | | | | | | 19,306 | | | | | | 33,883 | | | | | | 40,315 | | |
Total gold (ounces)
|
| | | | 858,848 | | | | | | 836,523 | | | | | | 1,646,406 | | | | | | 1,529,445 | | |
Silver (thousands of ounces):
|
| | | | 597 | | | | | | 559 | | | | | | 1,149 | | | | | | 1,171 | | |
Zinc (tonnes)
|
| | | | 2,743 | | | | | | 1,679 | | | | | | 4,874 | | | | | | 2,713 | | |
Copper (tonnes)
|
| | | | 713 | | | | | | 783 | | | | | | 1,281 | | | | | | 1,549 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
Total cash costs per ounce of gold produced — co-product basis(vii): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | $ | 1,046 | | | | | $ | 829 | | | | | $ | 1,091 | | | | | $ | 744 | | |
LaRonde Zone 5 mine
|
| | | | 1,213 | | | | | | 983 | | | | | | 1,189 | | | | | | 981 | | |
Canadian Malartic complex(iii)
|
| | | | 783 | | | | | | 767 | | | | | | 791 | | | | | | 789 | | |
Goldex mine
|
| | | | 777 | | | | | | 718 | | | | | | 793 | | | | | | 747 | | |
Meliadine mine
|
| | | | 1,020 | | | | | | 839 | | | | | | 979 | | | | | | 914 | | |
Meadowbank complex
|
| | | | 1,164 | | | | | | 999 | | | | | | 1,152 | | | | | | 1,311 | | |
Kittila mine
|
| | | | 901 | | | | | | 829 | | | | | | 848 | | | | | | 917 | | |
Detour Lake mine
|
| | | | 734 | | | | | | 645 | | | | | | 754 | | | | | | 634 | | |
Macassa mine
|
| | | | 750 | | | | | | 584 | | | | | | 675 | | | | | | 643 | | |
Fosterville mine
|
| | | | 437 | | | | | | 352 | | | | | | 417 | | | | | | 331 | | |
Pinos Altos mine
|
| | | | 1,582 | | | | | | 1,604 | | | | | | 1,460 | | | | | | 1,459 | | |
Creston Mascota mine
|
| | | | — | | | | | | 906 | | | | | | — | | | | | | 683 | | |
La India mine
|
| | | | 1,408 | | | | | | 959 | | | | | | 1,369 | | | | | | 904 | | |
Weighted average total cash costs per ounce of gold produced
|
| | | $ | 870 | | | | | $ | 758 | | | | | $ | 866 | | | | | $ | 800 | | |
Total cash costs per ounce of gold produced — by-product basis(vii): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | $ | 787 | | | | | $ | 566 | | | | | $ | 840 | | | | | $ | 517 | | |
LaRonde Zone 5 mine
|
| | | | 1,198 | | | | | | 982 | | | | | | 1,175 | | | | | | 978 | | |
Canadian Malartic complex(iii)
|
| | | | 772 | | | | | | 753 | | | | | | 779 | | | | | | 772 | | |
Goldex mine
|
| | | | 776 | | | | | | 718 | | | | | | 792 | | | | | | 746 | | |
Meliadine mine
|
| | | | 1,019 | | | | | | 837 | | | | | | 978 | | | | | | 912 | | |
Meadowbank complex
|
| | | | 1,156 | | | | | | 993 | | | | | | 1,144 | | | | | | 1,305 | | |
Kittila mine
|
| | | | 899 | | | | | | 828 | | | | | | 847 | | | | | | 915 | | |
Detour Lake mine
|
| | | | 731 | | | | | | 640 | | | | | | 750 | | | | | | 626 | | |
Macassa mine
|
| | | | 747 | | | | | | 582 | | | | | | 672 | | | | | | 641 | | |
Fosterville mine
|
| | | | 436 | | | | | | 351 | | | | | | 416 | | | | | | 331 | | |
Pinos Altos mine
|
| | | | 1,282 | | | | | | 1,383 | | | | | | 1,196 | | | | | | 1,224 | | |
Creston Mascota mine
|
| | | | — | | | | | | 899 | | | | | | — | | | | | | 598 | | |
La India mine
|
| | | | 1,385 | | | | | | 936 | | | | | | 1,348 | | | | | | 876 | | |
Weighted average total cash costs per ounce of gold produced
|
| | | $ | 840 | | | | | $ | 726 | | | | | $ | 836 | | | | | $ | 763 | | |
| | |
Three Months Ended
|
| |||||||||||||||||||||||||||||||||||||||||||||
| | |
September 30,
2021(iii) |
| |
December 31,
2021 |
| |
March 31,
2022(iii) |
| |
June 30,
2022(iii) |
| |
September 30,
2022(iii) |
| |
December 31,
2022 |
| |
March 31,
2023 |
| |
June 30,
2023 |
| ||||||||||||||||||||||||
Operating margin(i): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues from mining operations
|
| | | $ | 983,818 | | | | | $ | 951,531 | | | | | $ | 1,325,688 | | | | | $ | 1,581,058 | | | | | $ | 1,449,697 | | | | | $ | 1,384,719 | | | | | $ | 1,509,661 | | | | | $ | 1,718,197 | | |
Production costs
|
| | | | 455,627 | | | | | | 467,068 | | | | | | 661,735 | | | | | | 657,636 | | | | | | 657,073 | | | | | | 666,877 | | | | | | 653,144 | | | | | | 743,253 | | |
Total operating margin(i)
|
| | | | 528,191 | | | | | | 484,463 | | | | | | 663,953 | | | | | | 923,422 | | | | | | 792,624 | | | | | | 717,842 | | | | | | 856,517 | | | | | | 974,944 | | |
Operating margin(i) by mine: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | | 125,770 | | | | | | 87,070 | | | | | | 103,564 | | | | | | 90,877 | | | | | | 77,180 | | | | | | 68,917 | | | | | | 62,513 | | | | | | 69,896 | | |
LaRonde Zone 5 mine
|
| | | | 19,449 | | | | | | 17,557 | | | | | | 16,656 | | | | | | 7,866 | | | | | | 20,137 | | | | | | 12,814 | | | | | | 7,298 | | | | | | 14,795 | | |
Canadian Malartic
complex(ii) |
| | | | 93,439 | | | | | | 96,252 | | | | | | 79,302 | | | | | | 104,461 | | | | | | 72,905 | | | | | | 83,535 | | | | | | 80,783 | | | | | | 191,681 | | |
Goldex mine
|
| | | | 29,421 | | | | | | 39,182 | | | | | | 37,118 | | | | | | 41,656 | | | | | | 32,375 | | | | | | 35,533 | | | | | | 40,228 | | | | | | 45,112 | | |
Meliadine mine
|
| | | | 90,884 | | | | | | 115,912 | | | | | | 84,279 | | | | | | 96,740 | | | | | | 83,469 | | | | | | 95,084 | | | | | | 88,340 | | | | | | 78,362 | | |
Meadowbank complex
|
| | | | 52,087 | | | | | | 25,872 | | | | | | (5,198) | | | | | | 68,044 | | | | | | 97,092 | | | | | | 42,402 | | | | | | 79,809 | | | | | | 78,368 | | |
Hope Bay mine
|
| | | | 11,633 | | | | | | (4,938) | | | | | | 144 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Kittila mine
|
| | | | 57,362 | | | | | | 54,411 | | | | | | 46,111 | | | | | | 67,611 | | | | | | 58,762 | | | | | | 24,524 | | | | | | 62,724 | | | | | | 59,532 | | |
Detour Lake mine
|
| | | | — | | | | | | — | | | | | | 128,058 | | | | | | 214,841 | | | | | | 170,834 | | | | | | 185,305 | | | | | | 192,573 | | | | | | 204,272 | | |
Macassa mine
|
| | | | — | | | | | | — | | | | | | 24,155 | | | | | | 74,778 | | | | | | 54,294 | | | | | | 44,027 | | | | | | 79,900 | | | | | | 74,334 | | |
Fosterville mine
|
| | | | — | | | | | | — | | | | | | 106,856 | | | | | | 125,442 | | | | | | 103,457 | | | | | | 104,967 | | | | | | 132,702 | | | | | | 132,243 | | |
Pinos Altos mine
|
| | | | 31,971 | | | | | | 27,656 | | | | | | 19,431 | | | | | | 11,487 | | | | | | 11,030 | | | | | | 13,393 | | | | | | 18,526 | | | | | | 15,680 | | |
Creston Mascota mine
|
| | | | 4,186 | | | | | | 2,628 | | | | | | 1,177 | | | | | | 642 | | | | | | 487 | | | | | | 227 | | | | | | — | | | | | | — | | |
La India mine
|
| | | | 11,989 | | | | | | 22,861 | | | | | | 22,300 | | | | | | 18,977 | | | | | | 10,602 | | | | | | 7,114 | | | | | | 11,121 | | | | | | 10,669 | | |
Total operating margin(i)
|
| | | | 528,191 | | | | | | 484,463 | | | | | | 663,953 | | | | | | 923,422 | | | | | | 792,624 | | | | | | 717,842 | | | | | | 856,517 | | | | | | 974,944 | | |
Impairment loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 55,000 | | | | | | — | | | | | | — | | |
Amortization of property,
plant and mine development |
| | | | 191,771 | | | | | | 191,619 | | | | | | 255,644 | | | | | | 269,891 | | | | | | 283,486 | | | | | | 285,670 | | | | | | 303,959 | | | | | | 381,262 | | |
Revaluation gain
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,543,414) | | | | | | — | | |
Exploration, corporate and
other |
| | | | 129,148 | | | | | | 103,623 | | | | | | 228,638 | | | | | | 196,680 | | | | | | 293,149 | | | | | | 114,260 | | | | | | 150,473 | | | | | | 127,342 | | |
Income before income
and mining taxes |
| | | | 207,272 | | | | | | 189,221 | | | | | | 179,671 | | | | | | 456,851 | | | | | | 215,989 | | | | | | 262,912 | | | | | | 1,945,499 | | | | | | 466,340 | | |
Income and mining taxes
expense |
| | | | 88,315 | | | | | | 87,863 | | | | | | 60,595 | | | | | | 166,462 | | | | | | 149,311 | | | | | | 68,806 | | | | | | 128,608 | | | | | | 139,519 | | |
Net income for the period
|
| | | $ | 118,957 | | | | | $ | 101,358 | | | | | $ | 119,076 | | | | | $ | 290,389 | | | | | $ | 66,678 | | | | | $ | 194,106 | | | | | $ | 1,816,891 | | | | | $ | 326,821 | | |
Net income per share — basic
|
| | | $ | 0.49 | | | | | $ | 0.41 | | | | | $ | 0.31 | | | | | $ | 0.64 | | | | | $ | 0.15 | | | | | $ | 0.43 | | | | | $ | 3.87 | | | | | $ | 0.66 | | |
Net income per share — diluted
|
| | | $ | 0.49 | | | | | $ | 0.41 | | | | | $ | 0.31 | | | | | $ | 0.63 | | | | | $ | 0.15 | | | | | $ | 0.43 | | | | | $ | 3.86 | | | | | $ | 0.66 | | |
Cash flows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash provided by operating
activities |
| | | $ | 297,176 | | | | | $ | 262,114 | | | | | $ | 507,432 | | | | | $ | 633,266 | | | | | $ | 575,438 | | | | | $ | 380,500 | | | | | $ | 649,613 | | | | | $ | 722,000 | | |
Cash (used in) provided by
investing activities |
| | | $ | (268,213) | | | | | $ | (247,599) | | | | | $ | 535,652 | | | | | $ | (394,129) | | | | | $ | (439,296) | | | | | $ | (412,685) | | | | | $ | (1,398,745) | | | | | $ | (450,202) | | |
Cash (used in) provided by
financing activities |
| | | $ | (62,404) | | | | | $ | (70,543) | | | | | $ | (167,858) | | | | | $ | (294,307) | | | | | $ | (317,985) | | | | | $ | (134,703) | | | | | $ | 836,433 | | | | | $ | (582,351) | | |
| | |
As at
June 30, 2023 |
| |
As at
December 31, 2022 |
| ||||||
ASSETS | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | |
$
|
432,526
|
| | | | $ | 658,625 | | |
Trade receivables (Note 6)
|
| | |
|
10,141
|
| | | | | 8,579 | | |
Inventories (Note 7)
|
| | |
|
1,253,112
|
| | | | | 1,209,075 | | |
Income taxes recoverable
|
| | |
|
25,696
|
| | | | | 35,054 | | |
Fair value of derivative financial instruments (Notes 6 and 16)
|
| | |
|
14,792
|
| | | | | 8,774 | | |
Other current assets (Note 8A)
|
| | |
|
372,984
|
| | | | | 259,952 | | |
Total current assets
|
| | |
|
2,109,251
|
| | | | | 2,180,059 | | |
Non-current assets:
|
| | | | | | | | | | | | |
Goodwill
|
| | |
|
4,574,777
|
| | | | | 2,044,123 | | |
Property, plant and mine development (Note 9)
|
| | |
|
21,223,554
|
| | | | | 18,459,400 | | |
Investments (Notes 6, 10 and 16)
|
| | |
|
340,974
|
| | | | | 332,742 | | |
Deferred income and mining tax asset
|
| | |
|
12,603
|
| | | | | 11,574 | | |
Other assets (Notes 5 and 8B)
|
| | |
|
1,050,493
|
| | | | | 466,910 | | |
Total assets
|
| | |
$
|
29,311,652
|
| | | | $ | 23,494,808 | | |
LIABILITIES | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | |
Accounts payable and accrued liabilities
|
| | |
$
|
806,687
|
| | | | $ | 672,503 | | |
Share based liabilities
|
| | |
|
11,310
|
| | | | | 15,148 | | |
Interest payable
|
| | |
|
8,151
|
| | | | | 16,496 | | |
Income taxes payable
|
| | |
|
70,870
|
| | | | | 4,187 | | |
Current portion of long-term debt (Note 11)
|
| | |
|
—
|
| | | | | 100,000 | | |
Reclamation provision
|
| | |
|
42,818
|
| | | | | 23,508 | | |
Lease obligations
|
| | |
|
47,964
|
| | | | | 36,466 | | |
Fair value of derivative financial instruments (Notes 6 and 16)
|
| | |
|
18,156
|
| | | | | 78,114 | | |
Total current liabilities
|
| | |
|
1,005,956
|
| | | | | 946,422 | | |
Non-current liabilities: | | | | | | | | | | | | | |
Long-term debt (Note 11)
|
| | |
|
1,942,019
|
| | | | | 1,242,070 | | |
Reclamation provision
|
| | |
|
986,813
|
| | | | | 878,328 | | |
Lease obligations
|
| | |
|
125,460
|
| | | | | 114,876 | | |
Share based liabilities
|
| | |
|
10,377
|
| | | | | 17,277 | | |
Deferred income and mining tax liabilities
|
| | |
|
4,928,181
|
| | | | | 3,981,875 | | |
Other liabilities (Note 5)
|
| | |
|
359,643
|
| | | | | 72,615 | | |
Total liabilities
|
| | |
|
9,358,449
|
| | | | | 7,253,463 | | |
EQUITY | | | | | | | | | | | | | |
Common shares (Note 12):
|
| | | | | | | | | | | | |
Outstanding — 495,442,295 common shares issued, less 578,087 shares held in trust
|
| | |
|
18,224,982
|
| | | | | 16,251,221 | | |
Stock options (Notes 12 and 13)
|
| | |
|
200,300
|
| | | | | 197,430 | | |
Contributed surplus
|
| | |
|
22,074
|
| | | | | 23,280 | | |
Retained earnings (deficit)
|
| | |
|
1,558,021
|
| | | | | (201,580) | | |
Other reserves (Note 14)
|
| | |
|
(52,174)
|
| | | | | (29,006) | | |
Total equity
|
| | |
|
19,953,203
|
| | | | | 16,241,345 | | |
Total liabilities and equity
|
| | |
$
|
29,311,652
|
| | | | $ | 23,494,808 | | |
Commitments and contingencies (Note 19) | | | | | | | | | | | | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
REVENUES | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues from mining operations (Note 15)
|
| | |
$
|
1,718,197
|
| | | | $ | 1,581,058 | | | | |
$
|
3,227,858
|
| | | | $ | 2,906,746 | | |
COSTS, INCOME AND EXPENSES | | | | | | | | | | | | | | | | | | | | | | | | | |
Production(i) | | | |
|
743,253
|
| | | | | 657,636 | | | | |
|
1,396,397
|
| | | | | 1,319,371 | | |
Exploration and corporate development
|
| | |
|
54,422
|
| | | | | 70,352 | | | | |
|
108,190
|
| | | | | 136,194 | | |
Amortization of property, plant and mine development
|
| | |
|
381,262
|
| | | | | 269,891 | | | | |
|
685,221
|
| | | | | 525,535 | | |
General and administrative
|
| | |
|
47,312
|
| | | | | 49,275 | | | | |
|
95,520
|
| | | | | 116,817 | | |
Finance costs
|
| | |
|
35,837
|
| | | | | 20,961 | | | | |
|
59,285
|
| | | | | 43,614 | | |
(Gain) loss on derivative financial instruments (Note 16)
|
| | |
|
(26,433)
|
| | | | | 40,753 | | | | |
|
(32,972)
|
| | | | | 12,089 | | |
Foreign currency translation loss (gain)
|
| | |
|
4,014
|
| | | | | (13,492) | | | | |
|
4,234
|
| | | | | (12,282) | | |
Care and maintenance
|
| | |
|
9,411
|
| | | | | 9,257 | | | | |
|
20,656
|
| | | | | 19,713 | | |
Revaluation gain (Note 5)
|
| | |
|
—
|
| | | | | — | | | | |
|
(1,543,414)
|
| | | | | — | | |
Other expenses (Note 17)
|
| | |
|
2,779
|
| | | | | 19,574 | | | | |
|
22,902
|
| | | | | 109,173 | | |
Income before income and mining taxes
|
| | |
|
466,340
|
| | | | | 456,851 | | | | |
|
2,411,839
|
| | | | | 636,522 | | |
Income and mining taxes expense
|
| | |
$
|
139,519
|
| | | | $ | 166,462 | | | | |
|
268,127
|
| | | | | 227,057 | | |
Net income for the period
|
| | |
$
|
326,821
|
| | | | $ | 290,389 | | | | |
$
|
2,143,712
|
| | | | $ | 409,465 | | |
Net income per share — basic (Note 12)
|
| | |
$
|
0.66
|
| | | | $ | 0.64 | | | | |
$
|
4.45
|
| | | | $ | 0.97 | | |
Net income per share — diluted (Note 12)
|
| | |
$
|
0.66
|
| | | | $ | 0.63 | | | | |
$
|
4.43
|
| | | | $ | 0.97 | | |
Cash dividends declared per common share
|
| | |
$
|
0.40
|
| | | | $ | 0.40 | | | | |
$
|
0.80
|
| | | | $ | 0.80 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
Net income for the period
|
| | |
$
|
326,821
|
| | | | $ | 290,389 | | | | |
$
|
2,143,712
|
| | | | $ | 409,465 | | |
Other comprehensive income: | | | | | | | | | | | | | | | | | | | | | | | | | |
Items that may be subsequently reclassified to net income:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Derivative financial instruments:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Reclassified from the cash flow hedge reserve to net
income |
| | |
|
294
|
| | | | | 294 | | | | |
|
588
|
| | | | | 588 | | |
| | | |
|
294
|
| | | | | 294 | | | | |
|
588
|
| | | | | 588 | | |
Items that will not be subsequently reclassified to net income:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Pension benefit obligations:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Remeasurement (loss) gain on pension benefit obligations
|
| | |
|
(220)
|
| | | | | 449 | | | | |
|
(435)
|
| | | | | 912 | | |
Income tax impact
|
| | |
|
57
|
| | | | | (116) | | | | |
|
112
|
| | | | | (235) | | |
Equity securities:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Net change in fair value of equity securities
|
| | |
|
(26,692)
|
| | | | | (136,122) | | | | |
|
(26,653)
|
| | | | | (104,508) | | |
Income tax impact
|
| | |
|
783
|
| | | | | 14,769 | | | | |
|
—
|
| | | | | 9,903 | | |
| | | |
|
(26,072)
|
| | | | | (121,020) | | | | |
|
(26,976)
|
| | | | | (93,928) | | |
Other comprehensive loss for the period
|
| | |
|
(25,778)
|
| | | | | (120,726) | | | | |
|
(26,388)
|
| | | | | (93,340) | | |
Comprehensive income for the period
|
| | |
$
|
301,043
|
| | | | $ | 169,663 | | | | |
$
|
2,117,324
|
| | | | $ | 316,125 | | |
| | |
Common Shares
Outstanding |
| |
Stock
Options |
| |
Contributed
Surplus |
| |
Retained
Earnings (deficit) |
| |
Other
Reserves |
| |
Total
Equity |
| ||||||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2021
|
| | | | 245,001,857 | | | | | $ | 5,863,512 | | | | | $ | 191,112 | | | | | $ | 37,254 | | | | | $ | (146,383) | | | | | $ | 54,276 | | | | | $ | 5,999,771 | | |
Net income (Restated) (Note 5)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 409,465 | | | | | | — | | | | | | 409,465 | | |
Other comprehensive income (loss)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 677 | | | | | | (94,017) | | | | | | (93,340) | | |
Total comprehensive income (loss) (Restated)
(Note 5) |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 410,142 | | | | | | (94,017) | | | | | | 316,125 | | |
Transactions with owners: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Shares issued under employee stock option
plan (Notes 12 and 13A) |
| | | | 529,195 | | | | | | 29,143 | | | | | | (5,198) | | | | | | — | | | | | | — | | | | | | — | | | | | | 23,945 | | |
Shares issued on acquisition of Kirkland Lake Gold (“Kirkland”), net of share issuance costs (Note 5)
|
| | | | 209,274,263 | | | | | | 10,268,160 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,268,160 | | |
Stock options (Notes 12 and 13A)
|
| | | | — | | | | | | — | | | | | | 9,299 | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,299 | | |
Shares issued under incentive share purchase plan (Note 13B)
|
| | | | 286,967 | | | | | | 15,542 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,542 | | |
Shares issued under dividend reinvestment plan
|
| | | | 1,149,810 | | | | | | 58,442 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 58,442 | | |
Share repurchases (Note 12)
|
| | | | (200,000) | | | | | | (7,122) | | | | | | — | | | | | | (15,136) | | | | | | — | | | | | | — | | | | | | (22,258) | | |
Dividends declared ($0.80 per share)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (362,981) | | | | | | — | | | | | | (362,981) | | |
Restricted Share Unit plan, Performance Share Unit plan, and Long Term Incentive Plan (Notes 12 and 13C, D)
|
| | | | (266,103) | | | | | | (11,165) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (11,165) | | |
Restated Balance at June 30, 2022
|
| | | | 455,775,989 | | | | | $ | 16,216,512 | | | | | $ | 195,213 | | | | | $ | 22,118 | | | | | $ | (99,222) | | | | | $ | (39,741) | | | | | $ | 16,294,880 | | |
Balance at December 31, 2022
|
| | | | 456,465,296 | | | | | $ | 16,251,221 | | | | | $ | 197,430 | | | | | $ | 23,280 | | | | | $ | (201,580) | | | | | $ | (29,006) | | | | | $ | 16,241,345 | | |
Net income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,143,712 | | | | | | — | | | | | | 2,143,712 | | |
Other comprehensive loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (323) | | | | | | (26,065) | | | | | | (26,388) | | |
Total comprehensive income (loss)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,143,389 | | | | | | (26,065) | | | | | | 2,117,324 | | |
Transfer of loss on disposal of equity securities to deficit
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (2,897) | | | | | | 2,897 | | | | | | — | | |
Transactions with owners: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Shares issued under employee stock option
plan (Notes 12 and 13A) |
| | | | 519,426 | | | | | | 27,418 | | | | | | (4,366) | | | | | | — | | | | | | — | | | | | | — | | | | | | 23,052 | | |
Shares issued pursuant to Yamana Transaction (Note 5)
|
| | | | 36,177,931 | | | | | | 1,858,219 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,858,219 | | |
Stock options (Notes 12 and 13A)
|
| | | | — | | | | | | — | | | | | | 7,236 | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,236 | | |
Shares issued under incentive share purchase plan (Note 13B)
|
| | | | 415,343 | | | | | | 20,824 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,824 | | |
Shares issued under dividend reinvestment plan
|
| | | | 1,269,491 | | | | | | 59,503 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 59,503 | | |
Share repurchases (Note 12)
|
| | | | (100,000) | | | | | | (3,569) | | | | | | — | | | | | | (1,206) | | | | | | — | | | | | | — | | | | | | (4,775) | | |
Dividends declared ($0.80 per share)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (380,891) | | | | | | — | | | | | | (380,891) | | |
Restricted Share Unit plan, Performance Share Unit plan, and Long Term Incentive Plan (Notes 12 and 13C, D)
|
| | | | 116,721 | | | | | | 11,366 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,366 | | |
Balance at June 30, 2023
|
| | | | 494,864,208 | | | | | $ | 18,224,982 | | | | | $ | 200,300 | | | | | $ | 22,074 | | | | | $ | 1,558,021 | | | | | $ | (52,174) | | | | | $ | 19,953,203 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
OPERATING ACTIVITIES | | | | | | ||||||||||||||||||||
Net income for the period
|
| | |
$
|
326,821
|
| | | | $ | 290,389 | | | | |
$
|
2,143,712
|
| | | | $ | 409,465 | | |
Add (deduct) adjusting items: | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of property, plant and mine development
|
| | |
|
381,262
|
| | | | | 269,891 | | | | |
|
685,221
|
| | | | | 525,535 | | |
Revaluation gain (Note 5)
|
| | |
|
—
|
| | | | | — | | | | |
|
(1,543,414)
|
| | | | | — | | |
Deferred income and mining taxes
|
| | |
|
7,469
|
| | | | | 87,488 | | | | |
|
43,572
|
| | | | | 82,611 | | |
Unrealized (gain) loss on currency and commodity derivatives (Note 16)
|
| | |
|
(50,088)
|
| | | | | 33,569 | | | | |
|
(65,976)
|
| | | | | 9,514 | | |
Unrealized loss on warrants (Note 16)
|
| | |
|
6,959
|
| | | | | 21,095 | | | | |
|
2,296
|
| | | | | 20,182 | | |
Stock-based compensation (Note 13)
|
| | |
|
13,380
|
| | | | | 6,959 | | | | |
|
26,527
|
| | | | | 29,207 | | |
Foreign currency translation loss (gain)
|
| | |
|
4,014
|
| | | | | (13,492) | | | | |
|
4,234
|
| | | | | (12,282) | | |
Other
|
| | |
|
3,207
|
| | | | | 10,056 | | | | |
|
5,651
|
| | | | | 7,735 | | |
Changes in non-cash working capital balances: | | | | | | | | | | | | | | | | | | | | | | | | | |
Trade receivables
|
| | |
|
(2,930)
|
| | | | | (233) | | | | |
|
5,465
|
| | | | | 38,835 | | |
Income taxes
|
| | |
|
65,428
|
| | | | | (3,461) | | | | |
|
89,405
|
| | | | | (43,331) | | |
Inventories
|
| | |
|
(28,815)
|
| | | | | (10,110) | | | | |
|
(26,747)
|
| | | | | 168,042 | | |
Other current assets
|
| | |
|
(99,880)
|
| | | | | (78,258) | | | | |
|
(88,885)
|
| | | | | (117,865) | | |
Accounts payable and accrued liabilities
|
| | |
|
108,128
|
| | | | | 32,689 | | | | |
|
100,859
|
| | | | | 25,045 | | |
Interest payable
|
| | |
|
(12,955)
|
| | | | | (13,316) | | | | |
|
(10,307)
|
| | | | | (1,995) | | |
Cash provided by operating activities
|
| | |
|
722,000
|
| | | | | 633,266 | | | | |
|
1,371,613
|
| | | | | 1,140,698 | | |
INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Additions to property, plant and mine development (Note 9)
|
| | |
|
(423,621)
|
| | | | | (408,596) | | | | |
|
(808,555)
|
| | | | | (701,747) | | |
Yamana Transaction, net of cash and cash equivalents (Note 5)
|
| | |
|
—
|
| | | | | — | | | | |
|
(1,000,617)
|
| | | | | — | | |
Cash and cash equivalents acquired in Kirkland acquisition (Note 5)
|
| | |
|
—
|
| | | | | — | | | | |
|
—
|
| | | | | 838,732 | | |
Purchases of equity securities and other investments
|
| | |
|
(29,427)
|
| | | | | (18,411) | | | | |
|
(44,164)
|
| | | | | (31,854) | | |
Proceeds from loan repayment
|
| | |
|
—
|
| | | | | 40,000 | | | | |
|
—
|
| | | | | 40,000 | | |
Other investing activities
|
| | |
|
2,846
|
| | | | | (7,122) | | | | |
|
4,389
|
| | | | | (3,608) | | |
Cash (used in) provided by investing activities
|
| | |
|
(450,202)
|
| | | | | (394,129) | | | | |
|
(1,848,947)
|
| | | | | 141,523 | | |
FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from Credit Facility (Note 11)
|
| | |
|
—
|
| | | | | — | | | | |
|
1,000,000
|
| | | | | 100,000 | | |
Repayment of Credit Facility (Note 11)
|
| | |
|
(900,000)
|
| | | | | — | | | | |
|
(900,000)
|
| | | | | (100,000) | | |
Proceeds from Term Loan Facility, net of financing costs (Note 11)
|
| | |
|
598,958
|
| | | | | — | | | | |
|
598,958
|
| | | | | — | | |
Repayment of Senior Notes (Note 11)
|
| | |
|
(100,000)
|
| | | | | (125,000) | | | | |
|
(100,000)
|
| | | | | (125,000) | | |
Repayment of lease obligations
|
| | |
|
(12,420)
|
| | | | | (8,476) | | | | |
|
(22,168)
|
| | | | | (16,786) | | |
Disbursements to associates (Note 5)
|
| | |
|
(21,899)
|
| | | | | — | | | | |
|
(21,899)
|
| | | | | — | | |
Dividends paid
|
| | |
|
(165,258)
|
| | | | | (149,801) | | | | |
|
(321,421)
|
| | | | | (304,583) | | |
Repurchase of common shares (Notes 12 and 13)
|
| | |
|
(1,786)
|
| | | | | (22,258) | | | | |
|
(16,350)
|
| | | | | (50,147) | | |
Proceeds on exercise of stock options (Note 13A)
|
| | |
|
12,750
|
| | | | | 6,104 | | | | |
|
23,052
|
| | | | | 23,945 | | |
Common shares issued
|
| | |
|
7,304
|
| | | | | 5,124 | | | | |
|
13,910
|
| | | | | 10,406 | | |
Cash (used in) provided by financing activities
|
| | |
|
(582,351)
|
| | | | | (294,307) | | | | |
|
254,082
|
| | | | | (462,165) | | |
Effect of exchange rate changes on cash and cash equivalents
|
| | |
|
(1,566)
|
| | | | | 30 | | | | |
|
(2,847)
|
| | | | | 1,013 | | |
Net (decrease) increase in cash and cash equivalents during the period
|
| | |
|
(312,119)
|
| | | | | (55,140) | | | | |
|
(226,099)
|
| | | | | 821,069 | | |
Cash and cash equivalents, beginning of period
|
| | |
|
744,645
|
| | | | | 1,061,995 | | | | |
|
658,625
|
| | | | | 185,786 | | |
Cash and cash equivalents, end of period
|
| | | $ | 432,526 | | | | |
$
|
1,006,855
|
| | | | $ | 432,526 | | | | |
$
|
1,006,855
|
| |
SUPPLEMENTAL CASH FLOW INFORMATION | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest paid
|
| | |
$
|
43,437
|
| | | | $ | 33,219 | | | | |
$
|
56,488
|
| | | | $ | 41,422 | | |
Income and mining taxes paid
|
| | |
$
|
74,828
|
| | | | $ | 84,678 | | | | |
$
|
139,765
|
| | | | $ | 188,078 | | |
|
Fair value of common shares issued
|
| | | $ | 1,858,219 | | |
|
Cash
|
| | | | 1,001,291 | | |
|
Fair value of previously held 50% interest
|
| | | | 2,697,604 | | |
| | | | | $ | 5,557,114 | | |
| | |
Preliminary(i)
|
| |
Provisional
Adjustment |
| |
Adjusted
Preliminary |
| |||||||||
Cash and cash equivalents
|
| | | $ | 1,049 | | | | | $ | — | | | | | $ | 1,049 | | |
Inventories
|
| | | | 165,423 | | | | | | — | | | | | | 165,423 | | |
Other current assets
|
| | | | 29,890 | | | | | | — | | | | | | 29,890 | | |
Property, plant and mine development
|
| | | | 4,949,392 | | | | | | (1,277,584) | | | | | | 3,671,808 | | |
Goodwill
|
| | | | 2,078,562 | | | | | | 799,884 | | | | | | 2,878,446 | | |
Other assets
|
| | | | 330,215 | | | | | | — | | | | | | 330,215 | | |
Accounts payable and accrued and other liabilities
|
| | | | (117,905) | | | | | | — | | | | | | (117,905) | | |
Reclamation provision
|
| | | | (203,341) | | | | | | — | | | | | | (203,341) | | |
Deferred income and mining tax liabilities
|
| | | | (1,646,500) | | | | | | 477,700 | | | | | | (1,168,800) | | |
Other liabilities
|
| | | | (29,671) | | | | | | — | | | | | | (29,671) | | |
Total assets acquired, net of liabilities assumed
|
| | | $ | 5,557,114 | | | | | $ | — | | | | | $ | 5,557,114 | | |
|
Fair value of common shares issued
|
| | | $ | 10,268,584 | | |
|
Fair value of replacement share based compensation issued
|
| | | | 14,522 | | |
| | | | | $ | 10,283,106 | | |
| | |
Preliminary(i)
|
| |
Adjustments
|
| |
Final
|
| |||||||||
Cash and cash equivalents
|
| | | $ | 838,732 | | | | | $ | — | | | | | $ | 838,732 | | |
Inventories
|
| | | | 384,678 | | | | | | (35,402) | | | | | | 349,276 | | |
Other current assets
|
| | | | 100,094 | | | | | | — | | | | | | 100,094 | | |
Property, plant and mine development
|
| | | | 10,086,336 | | | | | | 341,935 | | | | | | 10,428,271 | | |
Goodwill
|
| | | | 1,804,459 | | | | | | (168,128) | | | | | | 1,636,331 | | |
Other assets
|
| | | | 143,415 | | | | | | (1,628) | | | | | | 141,787 | | |
Accounts payable and accrued and other liabilities
|
| | | | (235,778) | | | | | | — | | | | | | (235,778) | | |
Reclamation provision
|
| | | | (175,839) | | | | | | (52,289) | | | | | | (228,128) | | |
Deferred income and mining tax liabilities
|
| | | | (2,639,353) | | | | | | (84,488) | | | | | | (2,723,841) | | |
Other liabilities
|
| | | | (23,638) | | | | | | — | | | | | | (23,638) | | |
Total assets acquired, net of liabilities assumed
|
| | | $ | 10,283,106 | | | | | $ | — | | | | | $ | 10,283,106 | | |
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Financial assets: | | | | | | | | | | | | | | | | | | | | | | | | | |
Trade receivables
|
| | | $ | — | | | | | $ | 10,141 | | | | | $ | — | | | | | $ | 10,141 | | |
Equity securities
|
| | | | 290,196 | | | | | | 22,598 | | | | | | — | | | | | | 312,794 | | |
Share purchase warrants
|
| | | | — | | | | | | 28,180 | | | | | | — | | | | | | 28,180 | | |
Fair value of derivative financial instruments
|
| | | | — | | | | | | 14,792 | | | | | | — | | | | | | 14,792 | | |
Total financial assets
|
| | | $ | 290,196 | | | | | $ | 75,711 | | | | | $ | — | | | | | $ | 365,907 | | |
Financial liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | |
Fair value of derivative financial instruments
|
| | | $ | — | | | | | $ | 18,156 | | | | | $ | — | | | | | $ | 18,156 | | |
Total financial liabilities
|
| | | $ | — | | | | | $ | 18,156 | | | | | $ | — | | | | | $ | 18,156 | | |
| | |
As at June 30,
2023 |
| |
As at December 31,
2022 |
| ||||||
Federal, provincial and other sales taxes receivable
|
| | | $ | 137,166 | | | | | $ | 100,267 | | |
Prepaid expenses
|
| | | | 189,611 | | | | | | 110,649 | | |
Short term investments
|
| | | | 9,328 | | | | | | 9,896 | | |
Other
|
| | | | 36,879 | | | | | | 39,140 | | |
Total other current assets
|
| | | $ | 372,984 | | | | | $ | 259,952 | | |
| | |
As at June 30,
2023 |
| |
As at December 31,
2022 |
| ||||||
Non-current ore in stockpiles and on leach pads
|
| | | $ | 667,058 | | | | | $ | 405,988 | | |
Non-current prepaid expenses
|
| | | | 43,518 | | | | | | 26,102 | | |
Non-current loans receivable
|
| | | | 10,103 | | | | | | 3,939 | | |
Intangible asset
|
| | | | 14,668 | | | | | | 13,318 | | |
Investment in associate
|
| | | | 300,945 | | | | | | 10,732 | | |
Other
|
| | | | 14,201 | | | | | | 6,831 | | |
Total other assets
|
| | | $ | 1,050,493 | | | | | $ | 466,910 | | |
| | |
As at June 30,
2023 |
| |
As at December 31,
2022 |
| ||||||
Equity securities
|
| | | $ | 312,794 | | | | | $ | 304,618 | | |
Share purchase warrants
|
| | | | 28,180 | | | | | | 28,124 | | |
Total investments
|
| | | $ | 340,974 | | | | | $ | 332,742 | | |
| | |
Interest Rates
|
| |
As at June 30,
2023 |
| |
As at December 31,
2022 |
| ||||||||||||||||||||||||||||||
| | |
Principal
Amount |
| |
Deferred
Financing Costs |
| |
Carrying
Amount |
| |
Fair Value
|
| |
Carrying
Amount |
| |
Fair Value
|
| |||||||||||||||||||||
Senior Notes
|
| |
2.78% – 5.02%
|
| | | $ | 1,250,000 | | | | | $ | (4,345) | | | | | $ | 1,245,655 | | | | | $ | 1,166,375 | | | | | $ | 1,345,185 | | | | | $ | 1,264,614 | | |
Credit Facility
|
| |
Variable
|
| | | | 100,000 | | | | | | (2,719) | | | | | | 97,281 | | | | | | 97,281 | | | | | | (3,115) | | | | | | (3,115) | | |
Term Loan Facility
|
| |
Variable
|
| | | $ | 600,000 | | | | | $ | (917) | | | | | | 599,083 | | | | | | 599,083 | | | | | | — | | | | | | — | | |
Total long-term debt
|
| | | | | | $ | 1,950,000 | | | | | $ | (7,981) | | | | | $ | 1,942,019 | | | | | $ | 1,862,739 | | | | | $ | 1,342,070 | | | | | $ | 1,261,499 | | |
| | |
As at June 30,
2023 |
| |
As at December 31,
2022 |
| ||||||
Current portion of long-term debt
|
| | | $ | — | | | | | $ | 100,000 | | |
Non-current portion of long-term debt
|
| | | | 1,942,019 | | | | | | 1,242,070 | | |
Total long-term debt
|
| | | $ | 1,942,019 | | | | | $ | 1,342,070 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
Net income for the period — basic
|
| | | $ | 326,821 | | | | | $ | 290,389 | | | | | $ | 2,143,712 | | | | | $ | 409,465 | | |
Add: Dilutive impact of cash settling LTIP
|
| | | | (1,140) | | | | | | (2,745) | | | | | | (2,916) | | | | | | 398 | | |
Net income for the period — diluted
|
| | | | 325,681 | | | | | | 287,644 | | | | | | 2,140,796 | | | | | | 409,863 | | |
Weighted average number of common shares outstanding — basic (in thousands)
|
| | | | 494,138 | | | | | | 455,285 | | | | | | 481,553 | | | | | | 419,997 | | |
Add: Dilutive impact of common shares related to the RSU plan, PSU plan
and LTIP |
| | | | 1,209 | | | | | | 1,252 | | | | | | 1,279 | | | | | | 1,275 | | |
Add: Dilutive impact of employee stock options
|
| | | | 162 | | | | | | 250 | | | | | | 146 | | | | | | 261 | | |
Weighted average number of common shares outstanding — diluted (in thousands)
|
| | | | 495,509 | | | | | | 456,787 | | | | | | 482,978 | | | | | | 421,533 | | |
Net income per share — basic
|
| | | $ | 0.66 | | | | | $ | 0.64 | | | | | $ | 4.45 | | | | | $ | 0.97 | | |
Net income per share — diluted
|
| | | $ | 0.66 | | | | | $ | 0.63 | | | | | $ | 4.43 | | | | | $ | 0.97 | | |
| | |
Six Months Ended
June 30, 2023 |
| |
Six Months Ended
June 30, 2022 |
| ||||||||||||||||||
| | |
Number of
Stock Options |
| |
Weighted
Average Exercise Price |
| |
Number of
Stock Options |
| |
Weighted
Average Exercise Price |
| ||||||||||||
Outstanding, beginning of period
|
| | | | 4,976,636 | | | | | C$ | 75.04 | | | | | | 4,482,941 | | | | | C$ | 74.43 | | |
Granted
|
| | | | 873,950 | | | | | | 70.36 | | | | | | 1,643,801 | | | | | | 67.10 | | |
Exercised
|
| | | | (519,426) | | | | | | 59.43 | | | | | | (529,195) | | | | | | 57.76 | | |
Forfeited
|
| | | | (117,203) | | | | | | 78.58 | | | | | | (121,618) | | | | | | 79.68 | | |
Expired
|
| | | | (8,500) | | | | | | 58.04 | | | | | | — | | | | | | — | | |
Outstanding, end of period
|
| | | | 5,205,457 | | | | | C$ | 75.76 | | | | | | 5,475,929 | | | | | C$ | 73.73 | | |
Options exercisable, end of period
|
| | | | 3,460,439 | | | | | C$ | 77.18 | | | | | | 3,157,842 | | | | | C$ | 71.65 | | |
| | |
Six Months Ended
June 30, |
| |||||||||
| | |
2023
|
| |
2022
|
| ||||||
Risk-free interest rate
|
| | | | 4.26% | | | | | | 1.65% | | |
Expected life of stock options (in years)
|
| | | | 2.5 | | | | | | 2.4 | | |
Expected volatility of Agnico Eagle’s share price
|
| | | | 36.0% | | | | | | 30.0% | | |
Expected dividend yield
|
| | | | 3.6% | | | | | | 2.9% | | |
| | |
Equity
securities reserve |
| |
Cash flow
hedge reserve |
| |
Total
|
| |||||||||
Balance at December 31, 2021
|
| | | $ | 65,065 | | | | | $ | (10,789) | | | | | $ | 54,276 | | |
Net change in cash flow hedge reserve
|
| | | | — | | | | | | 588 | | | | | | 588 | | |
Net change in fair value of equity securities
|
| | | | (94,605) | | | | | | — | | | | | | (94,605) | | |
Balance at June 30, 2022
|
| | | $ | (29,540) | | | | | $ | (10,201) | | | | | $ | (39,741) | | |
Balance at December 31, 2022
|
| | | $ | (20,518) | | | | | $ | (8,488) | | | | | $ | (29,006) | | |
Net change in cash flow hedge reserve
|
| | | | — | | | | | | 588 | | | | | | 588 | | |
Transfer of net loss on disposal of equity securities to deficit
|
| | | | 2,897 | | | | | | — | | | | | | 2,897 | | |
Net change in fair value of equity securities
|
| | | | (26,653) | | | | | | — | | | | | | (26,653) | | |
Balance at June 30, 2023
|
| | | $ | (44,274) | | | | | $ | (7,900) | | | | | $ | (52,174) | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
Revenues from contracts with customers
|
| | | $ | 1,718,166 | | | | | $ | 1,582,685 | | | | | $ | 3,227,909 | | | | | $ | 2,907,537 | | |
Provisional pricing adjustments on concentrate sales
|
| | | | 31 | | | | | | (1,627) | | | | | | (51) | | | | | | (791) | | |
Total revenues from mining operations
|
| | | $ | 1,718,197 | | | | | $ | 1,581,058 | | | | | $ | 3,227,858 | | | | | $ | 2,906,746 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
Revenues from contracts with customers: | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold
|
| | | $ | 1,695,001 | | | | | $ | 1,560,058 | | | | | $ | 3,182,153 | | | | | $ | 2,861,228 | | |
Silver
|
| | | | 16,795 | | | | | | 13,437 | | | | | | 31,719 | | | | | | 29,497 | | |
Zinc
|
| | | | 1,616 | | | | | | 3,180 | | | | | | 4,380 | | | | | | 4,181 | | |
Copper
|
| | | | 4,754 | | | | | | 6,010 | | | | | | 9,657 | | | | | | 12,631 | | |
Total revenues from contracts with customers
|
| | | $ | 1,718,166 | | | | | $ | 1,582,685 | | | | | $ | 3,227,909 | | | | | $ | 2,907,537 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
Premiums realized on written foreign exchange call options
|
| | | $ | (135) | | | | | $ | (451) | | | | | $ | (135) | | | | | $ | (769) | | |
Unrealized loss on warrants
|
| | | | 6,959 | | | | | | 21,095 | | | | | | 2,296 | | | | | | 20,182 | | |
Realized loss (gain) on currency and commodity derivatives
|
| | | | 16,831 | | | | | | (13,460) | | | | | | 30,843 | | | | | | (16,838) | | |
Unrealized (gain) loss on currency and commodity derivatives
|
| | | | (50,088) | | | | | | 33,569 | | | | | | (65,976) | | | | | | 9,514 | | |
(Gain) loss on derivative financial instruments
|
| | | $ | (26,433) | | | | | $ | 40,753 | | | | | $ | (32,972) | | | | | $ | 12,089 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2023
|
| |
2022
|
| ||||||||||||
Loss on disposal of property, plant and mine development (Note 9)
|
| | | $ | 1,058 | | | | | $ | 2,828 | | | | | $ | 3,601 | | | | | $ | 3,914 | | |
Interest income
|
| | | | (1,481) | | | | | | (3,770) | | | | | | (3,949) | | | | | | (4,975) | | |
Temporary suspension and other costs due to COVID-19
|
| | | | 913 | | | | | | 1,710 | | | | | | 913 | | | | | | 10,752 | | |
Acquisition costs (Note 5)
|
| | | | 1,673 | | | | | | 11,372 | | | | | | 16,912 | | | | | | 92,139 | | |
Environmental remediation
|
| | | | (1,420) | | | | | | (319) | | | | | | (1,977) | | | | | | (2,618) | | |
Other costs
|
| | | | 2,036 | | | | | | 7,753 | | | | | | 7,402 | | | | | | 9,961 | | |
Total other expenses
|
| | | $ | 2,779 | | | | | $ | 19,574 | | | | | $ | 22,902 | | | | | $ | 109,173 | | |
| | |
Six Months Ended June 30, 2023
|
| |||||||||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Exploration and
Corporate Development |
| |
Segment
Income (Loss) |
| ||||||||||||
LaRonde mine
|
| | | $ | 236,085 | | | | | $ | (103,676) | | | | | $ | — | | | | | $ | 132,409 | | |
LaRonde Zone 5 mine
|
| | | | 66,080 | | | | | | (43,987) | | | | | | — | | | | | | 22,093 | | |
Canadian Malartic complex
|
| | | | 473,945 | | | | | | (201,481) | | | | | | — | | | | | | 272,464 | | |
Goldex mine
|
| | | | 141,335 | | | | | | (55,995) | | | | | | — | | | | | | 85,340 | | |
Meliadine mine
|
| | | | 326,713 | | | | | | (160,011) | | | | | | — | | | | | | 166,702 | | |
Meadowbank complex
|
| | | | 405,669 | | | | | | (247,492) | | | | | | — | | | | | | 158,177 | | |
Kittila mine
|
| | | | 218,887 | | | | | | (96,631) | | | | | | — | | | | | | 122,256 | | |
Detour Lake mine
|
| | | | 623,663 | | | | | | (226,818) | | | | | | — | | | | | | 396,845 | | |
Macassa mine
|
| | | | 230,738 | | | | | | (76,504) | | | | | | — | | | | | | 154,234 | | |
Fosterville mine
|
| | | | 337,375 | | | | | | (72,430) | | | | | | — | | | | | | 264,945 | | |
Pinos Altos mine
|
| | | | 101,837 | | | | | | (67,631) | | | | | | — | | | | | | 34,206 | | |
La India mine
|
| | | | 65,531 | | | | | | (43,741) | | | | | | — | | | | | | 21,790 | | |
Exploration(i) | | | | | — | | | | | | — | | | | | | (108,190) | | | | | | (108,190) | | |
Segment totals
|
| | | $ | 3,227,858 | | | | | $ | (1,396,397) | | | | | $ | (108,190) | | | | | $ | 1,723,271 | | |
Total segments income
|
| | | | | | | | | | | | | | | | | | | | | $ | 1,723,271 | | |
Corporate and other: | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of property, plant and mine development
|
| | | | (685,221) | | | ||||||||||||||||||
General and administrative
|
| | | | (95,520) | | | ||||||||||||||||||
Finance costs
|
| | | | (59,285) | | | ||||||||||||||||||
Gain on derivative financial instruments
|
| | | | 32,972 | | | ||||||||||||||||||
Foreign currency translation loss
|
| | | | (4,234) | | | ||||||||||||||||||
Care and maintenance
|
| | | | (20,656) | | | ||||||||||||||||||
Revaluation gain
|
| | | | 1,543,414 | | | ||||||||||||||||||
Other expenses
|
| | | | (22,902) | | | ||||||||||||||||||
Income before income and mining taxes | | | | $ | 2,411,839 | | |
| | |
Six Months Ended June 30, 2022
Restated (Note 5) |
| |||||||||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Exploration and
Corporate Development |
| |
Segment
Income (Loss) |
| ||||||||||||
LaRonde mine
|
| | | $ | 274,231 | | | | | $ | (79,790) | | | | | $ | — | | | | | $ | 194,441 | | |
LaRonde Zone 5 mine
|
| | | | 58,388 | | | | | | (33,866) | | | | | | — | | | | | | 24,522 | | |
Canadian Malartic complex
|
| | | | 297,105 | | | | | | (113,342) | | | | | | (11,909) | | | | | | 171,854 | | |
Goldex mine
|
| | | | 131,521 | | | | | | (52,747) | | | | | | — | | | | | | 78,774 | | |
Meliadine mine
|
| | | | 346,084 | | | | | | (165,065) | | | | | | — | | | | | | 181,019 | | |
Meadowbank complex
|
| | | | 266,930 | | | | | | (204,084) | | | | | | — | | | | | | 62,846 | | |
Kittila Mine
|
| | | | 216,488 | | | | | | (102,766) | | | | | | — | | | | | | 113,722 | | |
Detour Lake mine
|
| | | | 600,293 | | | | | | (257,394) | | | | | | — | | | | | | 342,899 | | |
Macassa mine
|
| | | | 164,248 | | | | | | (65,315) | | | | | | — | | | | | | 98,933 | | |
Fosterville mine
|
| | | | 368,602 | | | | | | (136,304) | | | | | | — | | | | | | 232,298 | | |
Pinos Altos mine
|
| | | | 103,327 | | | | | | (72,409) | | | | | | — | | | | | | 30,918 | | |
Creston Mascota mine
|
| | | | 2,918 | | | | | | (1,099) | | | | | | — | | | | | | 1,819 | | |
La India mine
|
| | | | 76,467 | | | | | | (35,190) | | | | | | — | | | | | | 41,277 | | |
Exploration(i) | | | | | 144 | | | | | | — | | | | | | (124,285) | | | | | | (124,141) | | |
Segment totals
|
| | | $ | 2,906,746 | | | | | $ | (1,319,371) | | | | | $ | (136,194) | | | | | $ | 1,451,181 | | |
Total segments income
|
| | | | | | | | | | | | | | | | | | | | | $ | 1,451,181 | | |
Corporate and other: | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of property, plant and mine development(ii)
|
| | | | (525,535) | | | ||||||||||||||||||
General and administrative
|
| | | | (116,817) | | | ||||||||||||||||||
Finance costs
|
| | | | (43,614) | | | ||||||||||||||||||
Loss on derivative financial instruments
|
| | | | (12,089) | | | ||||||||||||||||||
Foreign currency translation gain
|
| | | | 12,282 | | | ||||||||||||||||||
Care and maintenance
|
| | | | (19,713) | | | ||||||||||||||||||
Other expenses
|
| | | | (109,173) | | | ||||||||||||||||||
Income before income and mining taxes | | | | $ | 636,522 | | |
| | |
Total Assets as at
|
| |||||||||
| | |
June 30,
2023 |
| |
December 31,
2022 |
| ||||||
LaRonde mine
|
| | | $ | 1,010,291 | | | | | $ | 987,821 | | |
LaRonde Zone 5 mine
|
| | | | 123,285 | | | | | | 115,404 | | |
Canadian Malartic complex
|
| | | | 6,961,006 | | | | | | 1,582,406 | | |
Goldex mine
|
| | | | 375,938 | | | | | | 339,390 | | |
Meliadine mine
|
| | | | 2,350,864 | | | | | | 2,323,873 | | |
Meadowbank complex
|
| | | | 1,381,548 | | | | | | 1,387,335 | | |
Kittila mine
|
| | | | 1,637,205 | | | | | | 1,647,353 | | |
Detour Lake mine
|
| | | | 9,193,439 | | | | | | 9,120,416 | | |
Macassa mine
|
| | | | 2,331,691 | | | | | | 2,266,891 | | |
Fosterville mine
|
| | | | 1,088,560 | | | | | | 1,224,645 | | |
Pinos Altos mine
|
| | | | 471,126 | | | | | | 463,823 | | |
Creston Mascota mine
|
| | | | 3,940 | | | | | | 4,864 | | |
La India mine
|
| | | | 135,334 | | | | | | 150,967 | | |
Exploration
|
| | | | 980,639 | | | | | | 821,718 | | |
Corporate and other
|
| | | | 1,266,786 | | | | | | 1,057,902 | | |
Total assets
|
| | | $ | 29,311,652 | | | | | $ | 23,494,808 | | |