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| Statement |
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| We were also very pleased to report that we achieved our cost guidance with our total cash cost for the year coming in at the exact midpoint of our guidance of $865 per ounce and our all-in sustaining costs of $1,179 per ounce, well within our guided range |
| So we're not only adding reserves, we're also improving the quality with a grade that is higher |
| So I'm very proud and thank you for the team to control the costs and to continue to optimize the business and to leverage on all the synergy |
| 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 |
| 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 |
| And as we are also adding time and extending the life of mine, we continue to investigate at depth where the deposit remains open and we continue to be quite pleased with some good results now reaching close to kilometer below surface with some great good high-grade hip with good thickness |
| 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 |
| And we continue to see the benefit of a very positive reconciliation |
| It's been a great year from an operations standpoint that the metric we've seen from a cost and production were outstanding |
| So there's been a net -- a significant net growth of the total mineral reserves at Macassa, and very pleased to see the evolution at the AK Zone closer to surface, not only the reserve -- mineral reserves have grown to 160,000 ounces in a shallow portion of the deposit |
| 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 |
| So, without giving guidance or any number, I would say, we're quite confident that we're going to continue to be able to run a very good business |
| Best ever in a quarter, best ever in a year |
| Three, record mineral reserves, up 10% |
| Overall, the balance sheet remains very strong, and we're constantly working to make it stronger, improving our liquidity and overall financial flexibility |
| And then four, most proud of all, the best annual safety performance in the company's history |
| Moving to specific projects, like mentioned by Natasha, it's been a great year in Macassa and a great year from a production standpoint and a very great year in terms of reserve replacement in addition |
| It provides us with additional financial flexibility, and we were very pleased to have had strong support from our many banking partners |
| We think we are uniquely-positioned in the industry |
| So we've been successful at doing it, adding this year 10% |
| We'll talk about our guidance, solid three-year production guidance with industry leading costs |
| It’s been a very good year in terms of mineral reserve replacement |
| So these results, which we're very proud of, are clearly a function of the assets we have, but really none of this could happen without the quality of the people that we have |
| It's impressive enough on its own, a 35% reduction versus what were already aggressive targets |
| We've also recently significantly improved our overall liquidity |
| Statement |
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| While we recorded a net loss per share of $0.77 in the fourth quarter |
| There were many challenges that we encountered, but we overcame them as a team |
| The third fold is continue mining additional stope that with the previous life of mine, when the pit were depleted and we were not able to continue mining underground |
| Never like those strong Q4s |
| And this, combined with higher costs and capital estimates that were assumed back in 2022 led to the impairment charge |
| Obviously, the grade as was discussed is going down because we are completing the depletion of the Swan Zone |
| It's not impossible |
| Not a good place to work, a great place to work |
| But it's not going to be stable at 6 over time |
| I know that's self-evident |
| At Macassa, we recognized the net of tax impairment charge of approximately $600 million, primarily reflecting the write-down of goodwill that was recognized at the time of acquisition back in early 2022 |
| John Tumazos Nothing better than being able to see and touch the rock |
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