AEM - Agnico Eagle Mines Limited (AEM) Q4 2023 Earnings Call Transcript
2024-02-16 16:12:05 ET
Agnico Eagle Mines Limited (AEM)
Q4 2023 Results Conference Call
February 16, 2024 11:00 AM ET
Company Participants
Ammar Al-Joundi - President and Chief Executive Officer
Jamie Porter - Chief Financial Officer
Dominique Girard - EVP and COO, Nunavut, Quebec, and Europe
Natasha Nella Vaz - EVP and COO, Ontario, Australia and Mexico
Guy Gosselin - Executive Vice President, Exploration
Conference Call Participants
Josh Wolfson - RBC Capital Markets
Ralph Profiti - Eight Capital
Anita Soni - CIBC World Markets
Greg Barnes - TD Securities
Carey MacRury - Canaccord Genuity
John Tumazos - John Tumazos Very Independent Research
Tanya Jakusconek - Scotiabank
Jackie Przybylowski - BMO.
Martin Pradier - Veritas Investment Research
Presentation
Operator
Good morning. My name is Julie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Agnico Eagle’s Fourth Quarter and Full-Year 2023 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]
Thank you. Mr. Ammar Al-Joundi, you may begin your conference.
Ammar Al-Joundi
Thank you, operator, and good morning, everyone. First, let me say thank you again for joining us this morning. It's always great to have our owners and our friends and analysts joining us. This morning in particular, my colleagues and I are excited to talk to you about our fourth quarter and full year results. The results, as you will hear, are very strong.
But while these results are strong and we're going to talk about them, we're more excited to talk about our future, not just our guidance for 2024 and '25 and '26, but the next several years. And importantly, we'll talk a little bit about some of the key projects that will propel Agnico Eagle forward. It will propel us forward by delivering more value per share at mines that importantly, we already operate in regions we've been in for decades and with people and teams already in place.
We'll go through a number of slides this morning and you'll hear from a number of our most senior executives about the business and how it's going. But really the message we want to leave with you is a simple message. It's a message of stability, consistency, and of quality, quality of the projects, quality of the assets, and the quality of our people. It's a message, hopefully, that you’ll walk away thinking and appreciating that Agnico has built a unique position in this industry. With some of the largest longest live gold mines in the world, operating in the safest jurisdictions with great exploration potential, continuing great exploration potential, great operating results and great projects. It's a company with 66-year history of fiscal prudence, capital discipline and per share focus.
Before I jump in, I would suggest and note that there are forward-looking statements. And if I might ask operator, if we can jump to Slide 5.
Perfect. Thank you. So in discussing our fourth quarter and full-year 2023 highlights, so for 2023 highlights and full-year, four important milestones and achievements. One, record gold production. Best ever in the quarter, best ever for a full year. That's impressive for any company. It's especially impressive, I think, for a company that's been around for 66 years. Two, record cash from operations. Best ever in a quarter, best ever in a year. Three, record mineral reserves, up 10%. It's almost 54 million ounces.
So it shows not only are the operations doing well, but the reinvestment into the business and into the future is doing well. And then four, most proud of all, the best annual safety performance in the company's history. I've had the pleasure of talking about solid safety performance on a number of these calls. You know we're passionate about it. I'll say it again, there's nothing more important, nothing more important than keeping our people safe, our community safe, and the environment safe....
Agnico Eagle Mines Limited (AEM) Q4 2023 Earnings Call Transcript