Agnico Eagle Mines Limited

Notable vs. Peers

• All-in sustaining cost of $1,459/oz is 26% lower than the peer producer average of $1,962/oz.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Agnico Eagle operates 9 mines across 4 countries, each independently permitted over decades; no single company-wide permit date exists. Row presence documents that current producing mines are, by definition, permitted. · Source
2. Construction decision (FID)

   Reached — date not disclosed · Same multi-mine caveat as PERMIT_GRANTED -- no single company-wide construction-decision date represents a 9-mine portfolio spanning decades plus the 2022 Kirkland Lake Gold merger. · Source
3. Construction start

   Reached — date not disclosed · Approximate -- anchored to Detour Lake's post-Kirkland Lake integration and Odyssey underground expansion construction, among the most recent major builds in the current portfolio. Not a precise, primary-sourced date for this pass. [Task #697 chronology ruling, 2026-08-25] achievedDate cleared (was 2018-01-01). Task #696 flagged this row as dated AFTER this miner's own FIRST_PRODUCTION row (2013-01-01) -- impossible on its face. Neither value was ever a real assertion: this row's note above already called it "Approximate... Not a precise, primary-sourced date for this pass", and FIRST_PRODUCTION's said the same. The inversion was manufactured by two separate passes each rounding a rough era to 1 January, not by any disagreement in the research. The other three rows on this miner (PERMIT_GRANTED, CONSTRUCTION_DECISION, COMMERCIAL_PRODUCTION) already carry achievedDate=null with an explicit "no single company-wide date exists across a 9-mine portfolio" hedge; this row now matches its own siblings. The research above is unchanged and still the best available anchor -- Detour Lake's post-Kirkland Lake integration and the Odyssey underground expansion -- it simply does not carry a company-wide date. Row presence plus citation is the signal the lifecycle gates read (hasMilestone() keys on disputed, never on achievedDate), so stage-production-implies-milestone-construction_start is unaffected. · Source
4. First pour / production

   Reached — date not disclosed · Approximate -- Detour Lake (open pit) reached first production in 2013 under prior owner Detour Gold, before Kirkland Lake Gold's 2020 acquisition and Agnico's 2022 merger. Confirms current production status; the company overall has produced continuously for far longer via LaRonde. [Task #697 chronology ruling, 2026-08-25] achievedDate cleared (was 2013-01-01). Paired with the CONSTRUCTION_START correction above -- see that row for the full reasoning. This row's own note already described the value as "Approximate", and the date it carried was Detour Lake's 2013 first production under a PRIOR owner (Detour Gold), three corporate steps removed from Agnico Eagle's own history: Kirkland Lake Gold acquired Detour in 2020, Agnico merged with Kirkland Lake in 2022. Agnico itself has produced continuously since LaRonde's 1988 start, so 2013 was never the company's first production in any case. Now consistent with the "no single company-wide date exists" hedge already on this miner's other rows. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists across a 9-mine portfolio built over decades plus the 2022 Kirkland Lake Gold merger (Detour Lake, Macassa, Fosterville) and the 2025 O3 Mining acquisition (Marban). Agnico Eagle has been in continuous commercial gold production since LaRonde's 1988 start (see currentMilestoneLabel/stageEnteredAt on this record) and is currently one of the world's largest gold producers by output, reporting record quarterly free cash flow and production across 9 producing mines in its most recent (Q2 2026) results. This row was missing entirely prior to 2026-08-21 -- a genuine data gap (row presence is the signal per this model's doc comment), not a stage error; Miner.stage was already correctly PRODUCTION. The same gap was found to exist across every other mega-cap gold producer checked in this DB (Barrick, Newmont, Franco-Nevada, Alamos, Equinox, B2Gold, Allied Gold) and is being tracked separately as a systemic backfill, out of scope for this single-ticker urgent fix. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.