KGC - Agnico Eagle: The Cost Of 'Safe' Jurisdictions

• Agnico Eagle's production level, cost structure, and reserves and resources are similar to Kinross Gold.
• The market is paying almost twice as much for Agnico as it is Kinross. I explain why.
• Agnico's effective tax rate for the last seven years was almost 50%. Government expropriation comes in multiple forms.
• In the quest for sound money, I will not forget sound valuations.

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