UPDATE: Agnico-Eagle Swoops Lower, But Above Early Day Lows as Provides Exploration Update, Announces CFO Exit

By Midnight Trader,  June 26, 2012, 09:33:50 AM EDT

Agnico-Eagle Mines Limited (AEM.TO), which is lower but above a day low $42.08 today, provided interim results from its 2012 exploration program. The 2012 program is primarily focused on drilling at Kittila (Finland), Meliadine (Canada) and Mascota/Bravo (Mexico), conversion of resources at La India (Mexico) and further exploration of the early-stage deposit at Tarachi (Mexico).

From January through May 2012, Agnico-Eagle spent approximately $43 million on exploration.

AEM also announced today that Ammar Al-Joundi, Senior Vice-President, Finance and Chief Financial Officer, is leaving the company, effective July 9, 2012, to assume a similar position with another resource company.

Agnico-Eagle's President and CEO Sean Boyd said: "Agnico-Eagle will take the necessary time to identify the best possible candidate to fill this position."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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