AGNICO EAGLE MINES LTD
For the period ended Dec 31, 2023. Filed Mar 25, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Mar 25, 2024
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Contents
EX-99.2 · 27.COMMITMENTS AND CONTINGENCIES (Continued)
**27.**COMMITMENTS AND CONTINGENCIES (Continued)
| ● | The Company is committed to pay a royalty on production from certain properties in Mexico. The type of royalty agreements include, but are not limited to, net smelter return royalties, with percentages ranging from 2.5% to 3.5% at the Pinos Altos and Creston Mascota mines, and with percentages ranging from 2.0% to 3.0% at the La India mine. |
| ● | The Company is committed to various royalties on production from the Macassa mine in Ontario, Canada. The type of royalty agreements include, but are not limited to, net smelter return royalties, with percentages ranging from 0.5% to 1.5%. |
| ● | The Company is committed to various royalty arrangements at the Detour mine in Ontario, Canada, including a 0.5% and 2.0% net smelter return royalty on the gold sales and royalties based on gold price and annual revenues payable to relevant First Nations communities. |
| ● | The Company is committed to two royalty agreements on gold sales from the Fosterville mine in Victoria, Australia, comprising of a 2% net smelter return royalty and a 2.75% net smelter return royalty payable to the Victorian government. |
The Company also has certain payments associated with First Nation collaboration agreements at the Canadian Malartic and LaRonde complexes.
The Company regularly enters into various earn-in and shareholder agreements, often with commitments to pay net smelter return and other royalties.
The Company had the following contractual commitments as at December 31, 2023, of which $115.7 million related to capital expenditures:
| | | | |
|---|---|---|---|
| · Contractual | |||
| · · Commitments | |||
| 2024 | | $159,078 | |
| 2025 | | | 18,747 |
| 2026 | | | 20,327 |
| 2027 | | | 6,452 |
| 2028 | | | 4,340 |
| Thereafter | | | 7,063 |
| Total | | $216,007 | |
In addition to the above, the Company has$290.0 million of committed subscription proceeds related to the San Nicolás project. (Note 5).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.