(millions of United States dollars)
|
| |
Three Months Ended
September 30, 2024 vs. Three Months Ended September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 vs. Nine Months Ended September 30, 2023 |
| ||||||
Increase in revenues from mining operations
|
| | | $ | 513.2 | | | | | $ | 1,191.8 | | |
Decrease in production costs due to effects of foreign currencies
|
| | | | 4.1 | | | | | | 3.9 | | |
Increase in production costs
|
| | | | (28.4) | | | | | | (187.3) | | |
Decrease in exploration and corporate development expenses
|
| | | | 1.3 | | | | | | 3.0 | | |
Decrease (Increase) in amortization of property, plant and mine development
|
| | | | 30.8 | | | | | | (14.5) | | |
Increase in general and administrative expenses
|
| | | | (9.6) | | | | | | (11.0) | | |
Decrease (Increase) in finance costs
|
| | | | 7.2 | | | | | | (4.3) | | |
Change in derivative financial instruments
|
| | | | 51.2 | | | | | | (47.4) | | |
Change in non-cash foreign currency translation
|
| | | | (9.9) | | | | | | (1.5) | | |
Increase in care and maintenance
|
| | | | (1.4) | | | | | | (2.1) | | |
Change in revaluation gain
|
| | | | – | | | | | | (1,543.4) | | |
Decrease (Increase) in other expenses
|
| | | | 16.1 | | | | | | (20.2) | | |
Increase in income and mining taxes
|
| | | | (182.3) | | | | | | (296.1) | | |
Total net income variance
|
| | | $ | 392.3 | | | | | $ | (929.1) | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
LaRonde mine — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 355 | | | | | | 365 | | | | | | 1,149 | | | | | | 1,101 | | |
Tonnes of ore milled per day
|
| | | | 3,859 | | | | | | 3,967 | | | | | | 4,193 | | | | | | 4,033 | | |
Gold grade (g/t)
|
| | | | 4.45 | | | | | | 4.52 | | | | | | 4.72 | | | | | | 5.04 | | |
Gold production (ounces)
|
| | |
|
47,313
|
| | | |
|
49,303
|
| | | |
|
161,388
|
| | | |
|
167,471
|
| |
Production costs per tonne (C$)
|
| | | $ | 285 | | | | | $ | 244 | | | | | $ | 229 | | | | | $ | 208 | | |
Minesite costs per tonne (C$)
|
| | | $ | 220 | | | | | $ | 182 | | | | | $ | 208 | | | | | $ | 198 | | |
Production costs per ounce
|
| | | $ | 1,569 | | | | | $ | 1,348 | | | | | $ | 1,199 | | | | | $ | 1,016 | | |
Total cash costs per ounce
|
| | | $ | 1,078 | | | | | $ | 875 | | | | | $ | 934 | | | | | $ | 850 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
LaRonde Zone 5 mine — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 332 | | | | | | 262 | | | | | | 898 | | | | | | 894 | | |
Tonnes of ore milled per day
|
| | | | 3,609 | | | | | | 2,848 | | | | | | 3,277 | | | | | | 3,275 | | |
Gold grade (g/t)
|
| | | | 1.86 | | | | | | 1.93 | | | | | | 2.06 | | | | | | 1.97 | | |
Gold production (ounces)
|
| | |
|
18,292
|
| | | |
|
15,193
|
| | | |
|
54,915
|
| | | |
|
53,412
|
| |
Production costs per tonne (C$)
|
| | | $ | 78 | | | | | $ | 96 | | | | | $ | 88 | | | | | $ | 94 | | |
Minesite costs per tonne (C$)
|
| | | $ | 93 | | | | | $ | 96 | | | | | $ | 94 | | | | | $ | 94 | | |
Production costs per ounce
|
| | | $ | 1,034 | | | | | $ | 1,232 | | | | | $ | 1,057 | | | | | $ | 1,174 | | |
Total cash costs per ounce
|
| | | $ | 1,285 | | | | | $ | 1,287 | | | | | $ | 1,160 | | | | | $ | 1,207 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
LaRonde complex — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 687 | | | | | | 627 | | | | | | 2,047 | | | | | | 1,995 | | |
Tonnes of ore milled per day
|
| | | | 7,467 | | | | | | 6,815 | | | | | | 7,471 | | | | | | 7,308 | | |
Gold grade (g/t)
|
| | | | 3.20 | | | | | | 3.43 | | | | | | 3.55 | | | | | | 3.66 | | |
Gold production (ounces)
|
| | |
|
65,605
|
| | | |
|
64,496
|
| | | |
|
216,303
|
| | | |
|
220,883
|
| |
Production costs per tonne (C$)
|
| | | $ | 185 | | | | | $ | 182 | | | | | $ | 167 | | | | | $ | 157 | | |
Minesite costs per tonne (C$)
|
| | | $ | 158 | | | | | $ | 147 | | | | | $ | 158 | | | | | $ | 151 | | |
Production costs per ounce
|
| | | $ | 1,420 | | | | | $ | 1,321 | | | | | $ | 1,163 | | | | | $ | 1,054 | | |
Total cash costs per ounce
|
| | | $ | 1,135 | | | | | $ | 972 | | | | | $ | 991 | | | | | $ | 937 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Canadian Malartic — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes) (100%)
|
| | | | 4,862 | | | | | | 4,911 | | | | | | 15,217 | | | | | | 14,317 | | |
Tonnes of ore milled per day (100%)
|
| | | | 52,848 | | | | | | 53,380 | | | | | | 55,536 | | | | | | 52,443 | | |
Gold grade (g/t)
|
| | | | 0.98 | | | | | | 1.22 | | | | | | 1.12 | | | | | | 1.22 | | |
Gold production (ounces)(1)
|
| | |
|
141,392
|
| | | |
|
177,243
|
| | | |
|
509,169
|
| | | |
|
435,683
|
| |
Production costs per tonne (C$)
|
| | | $ | 36 | | | | | $ | 34 | | | | | $ | 36 | | | | | $ | 36 | | |
Minesite costs per tonne (C$)
|
| | | $ | 41 | | | | | $ | 39 | | | | | $ | 41 | | | | | $ | 39 | | |
Production costs per ounce
|
| | | $ | 912 | | | | | $ | 708 | | | | | $ | 785 | | | | | $ | 750 | | |
Total cash costs per ounce
|
| | | $ | 1,025 | | | | | $ | 805 | | | | | $ | 906 | | | | | $ | 789 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Goldex — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 739 | | | | | | 756 | | | | | | 2,264 | | | | | | 2,215 | | |
Tonnes of ore milled per day
|
| | | | 8,033 | | | | | | 8,217 | | | | | | 8,263 | | | | | | 8,114 | | |
Gold grade (g/t)
|
| | | | 1.51 | | | | | | 1.69 | | | | | | 1.59 | | | | | | 1.72 | | |
Gold production (ounces)
|
| | |
|
30,334
|
| | | |
|
35,880
|
| | | |
|
98,472
|
| | | |
|
107,619
|
| |
Production costs per tonne (C$)
|
| | | $ | 63 | | | | | $ | 51 | | | | | $ | 60 | | | | | $ | 52 | | |
Minesite costs per tonne (C$)
|
| | | $ | 61 | | | | | $ | 52 | | | | | $ | 60 | | | | | $ | 52 | | |
Production costs per ounce
|
| | | $ | 1,130 | | | | | $ | 803 | | | | | $ | 1,021 | | | | | $ | 788 | | |
Total cash costs per ounce
|
| | | $ | 1,031 | | | | | $ | 822 | | | | | $ | 945 | | | | | $ | 802 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Detour Lake — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 7,082 | | | | | | 5,630 | | | | | | 20,376 | | | | | | 18,827 | | |
Tonnes of ore milled per day
|
| | | | 76,978 | | | | | | 61,196 | | | | | | 74,365 | | | | | | 68,963 | | |
Gold grade (g/t)
|
| | | | 0.85 | | | | | | 0.93 | | | | | | 0.84 | | | | | | 0.88 | | |
Gold production (ounces)
|
| | |
|
173,891
|
| | | |
|
152,762
|
| | | |
|
492,889
|
| | | |
|
483,971
|
| |
Production costs per tonne (C$)
|
| | | $ | 24 | | | | | $ | 25 | | | | | $ | 25 | | | | | $ | 24 | | |
Minesite costs per tonne (C$)
|
| | | $ | 26 | | | | | $ | 25 | | | | | $ | 26 | | | | | $ | 26 | | |
Production costs per ounce
|
| | | $ | 731 | | | | | $ | 696 | | | | | $ | 770 | | | | | $ | 688 | | |
Total cash costs per ounce
|
| | | $ | 779 | | | | | $ | 755 | | | | | $ | 812 | | | | | $ | 752 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Macassa — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 134 | | | | | | 112 | | | | | | 420 | | | | | | 311 | | |
Tonnes of ore milled per day
|
| | | | 1,457 | | | | | | 1,217 | | | | | | 1,533 | | | | | | 1,139 | | |
Gold grade (g/t)
|
| | | | 16.84 | | | | | | 13.35 | | | | | | 15.43 | | | | | | 17.16 | | |
Gold production (ounces)
|
| | |
|
70,727
|
| | | |
|
46,792
|
| | | |
|
203,048
|
| | | |
|
167,951
|
| |
Production costs per tonne (C$)
|
| | | $ | 489 | | | | | $ | 435 | | | | | $ | 476 | | | | | $ | 488 | | |
Minesite costs per tonne (C$)
|
| | | $ | 539 | | | | | $ | 476 | | | | | $ | 502 | | | | | $ | 516 | | |
Production costs per ounce
|
| | | $ | 680 | | | | | $ | 766 | | | | | $ | 723 | | | | | $ | 669 | | |
Total cash costs per ounce
|
| | | $ | 750 | | | | | $ | 841 | | | | | $ | 763 | | | | | $ | 719 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Meliadine — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 533 | | | | | | 470 | | | | | | 1,450 | | | | | | 1,407 | | |
Tonnes of ore milled per day
|
| | | | 5,793 | | | | | | 5,109 | | | | | | 5,292 | | | | | | 5,154 | | |
Gold grade (g/t)
|
| | | | 6.08 | | | | | | 6.17 | | | | | | 6.34 | | | | | | 6.15 | | |
Gold production (ounces)
|
| | |
|
99,838
|
| | | |
|
89,707
|
| | | |
|
284,238
|
| | | |
|
267,856
|
| |
Production costs per tonne (C$)
|
| | | $ | 192 | | | | | $ | 254 | | | | | $ | 238 | | | | | $ | 237 | | |
Minesite costs per tonne (C$)
|
| | | $ | 226 | | | | | $ | 248 | | | | | $ | 241 | | | | | $ | 249 | | |
Production costs per ounce
|
| | | $ | 752 | | | | | $ | 994 | | | | | $ | 895 | | | | | $ | 930 | | |
Total cash costs per ounce
|
| | | $ | 889 | | | | | $ | 971 | | | | | $ | 908 | | | | | $ | 975 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Meadowbank — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 1,083 | | | | | | 1,077 | | | | | | 3,144 | | | | | | 2,905 | | |
Tonnes of ore milled per day
|
| | | | 11,772 | | | | | | 11,707 | | | | | | 11,474 | | | | | | 10,641 | | |
Gold grade (g/t)
|
| | | | 4.19 | | | | | | 3.76 | | | | | | 4.21 | | | | | | 3.82 | | |
Gold production (ounces)
|
| | |
|
133,502
|
| | | |
|
116,555
|
| | | |
|
387,695
|
| | | |
|
322,440
|
| |
Production costs per tonne (C$)
|
| | | $ | 145 | | | | | $ | 167 | | | | | $ | 152 | | | | | $ | 176 | | |
Minesite costs per tonne (C$)
|
| | | $ | 153 | | | | | $ | 178 | | | | | $ | 155 | | | | | $ | 177 | | |
Production costs per ounce
|
| | | $ | 867 | | | | | $ | 1,149 | | | | | $ | 910 | | | | | $ | 1,183 | | |
Total cash costs per ounce
|
| | | $ | 910 | | | | | $ | 1,225 | | | | | $ | 923 | | | | | $ | 1,173 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Fosterville — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 246 | | | | | | 144 | | | | | | 652 | | | | | | 468 | | |
Tonnes of ore milled per day
|
| | | | 2,674 | | | | | | 1,565 | | | | | | 2,380 | | | | | | 1,714 | | |
Gold grade (g/t)
|
| | | | 8.61 | | | | | | 13.22 | | | | | | 9.28 | | | | | | 15.48 | | |
Gold production (ounces)
|
| | |
|
65,532
|
| | | |
|
59,790
|
| | | |
|
188,064
|
| | | |
|
228,161
|
| |
Production costs per tonne (A$)
|
| | | $ | 271 | | | | | $ | 291 | | | | | $ | 267 | | | | | $ | 322 | | |
Minesite costs per tonne (A$)
|
| | | $ | 261 | | | | | $ | 304 | | | | | $ | 264 | | | | | $ | 316 | | |
Production costs per ounce
|
| | | $ | 677 | | | | | $ | 461 | | | | | $ | 611 | | | | | $ | 438 | | |
Total cash costs per ounce
|
| | | $ | 651 | | | | | $ | 495 | | | | | $ | 602 | | | | | $ | 437 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Kittila — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 544 | | | | | | 527 | | | | | | 1,550 | | | | | | 1,440 | | |
Tonnes of ore milled per day
|
| | | | 5,913 | | | | | | 5,728 | | | | | | 5,657 | | | | | | 5,275 | | |
Gold grade (g/t)
|
| | | | 3.94 | | | | | | 4.20 | | | | | | 4.10 | | | | | | 4.45 | | |
Gold production (ounces)
|
| | |
|
56,715
|
| | | |
|
59,408
|
| | | |
|
166,967
|
| | | |
|
173,230
|
| |
Production costs per tonne (EUR)
|
| | | € | 100 | | | | | € | 101 | | | | | € | 105 | | | | | € | 100 | | |
Minesite costs per tonne (EUR)
|
| | | € | 96 | | | | | € | 99 | | | | | € | 103 | | | | | € | 100 | | |
Production costs per ounce
|
| | | $ | 1,057 | | | | | $ | 986 | | | | | $ | 1,057 | | | | | $ | 896 | | |
Total cash costs per ounce
|
| | | $ | 1,010 | | | | | $ | 930 | | | | | $ | 1,033 | | | | | $ | 875 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
Pinos Altos — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | 446 | | | | | | 450 | | | | | | 1,326 | | | | | | 1,215 | | |
Tonnes of ore milled per day
|
| | | | 4,848 | | | | | | 4,891 | | | | | | 4,839 | | | | | | 4,451 | | |
Gold grade (g/t)
|
| | | | 1.58 | | | | | | 1.84 | | | | | | 1.72 | | | | | | 1.92 | | |
Gold production (ounces)
|
| | |
|
21,371
|
| | | |
|
25,386
|
| | | |
|
69,850
|
| | | |
|
71,679
|
| |
Production costs per tonne
|
| | | $ | 104 | | | | | $ | 89 | | | | | $ | 93 | | | | | $ | 89 | | |
Minesite costs per tonne
|
| | | $ | 96 | | | | | $ | 85 | | | | | $ | 94 | | | | | $ | 88 | | |
Production costs per ounce
|
| | | $ | 2,174 | | | | | $ | 1,581 | | | | | $ | 1,761 | | | | | $ | 1,504 | | |
Total cash costs per ounce
|
| | | $ | 1,531 | | | | | $ | 1,310 | | | | | $ | 1,426 | | | | | $ | 1,236 | | |
| | |
Three Months Ended
|
| |
Nine Months Ended
|
| ||||||||||||||||||
La India — Operating Statistics
|
| |
September 30,
2024 |
| |
September 30,
2023 |
| |
September 30,
2024 |
| |
September 30,
2023 |
| ||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| | | | — | | | | | | 970 | | | | | | — | | | | | | 2,510 | | |
Tonnes of ore milled per day
|
| | | | — | | | | | | 10,543 | | | | | | — | | | | | | 9,194 | | |
Gold grade (g/t)
|
| | | | — | | | | | | 1.10 | | | | | | — | | | | | | 0.86 | | |
Gold production (ounces)
|
| | |
|
4,529
|
| | | |
|
22,269
|
| | | |
|
21,190
|
| | | |
|
56,423
|
| |
Production costs per tonne
|
| | | | — | | | | | $ | 29 | | | | | | — | | | | | $ | 29 | | |
Minesite costs per tonne
|
| | | | — | | | | | $ | 27 | | | | | | — | | | | | $ | 29 | | |
Production costs per ounce
|
| | | $ | 2,300 | | | | | $ | 1,271 | | | | | $ | 1,861 | | | | | $ | 1,277 | | |
Total cash costs per ounce
|
| | | $ | 2,872 | | | | | $ | 1,156 | | | | | $ | 1,963 | | | | | $ | 1,272 | | |
(thousands of United States dollars)
|
| |
As at September 30, 2024
|
| |
As at December 31, 2023
|
| ||||||
Current assets
|
| | | $ | 2,907,703 | | | | | $ | 2,191,152 | | |
Non-current assets
|
| | | | 26,908,786 | | | | | | 26,493,797 | | |
Total assets
|
| | | $ | 29,816,489 | | | | | $ | 28,684,949 | | |
Current liabilities
|
| | | $ | 1,663,797 | | | | | $ | 1,048,026 | | |
Non-current liabilities
|
| | | | 7,647,721 | | | | | | 8,214,008 | | |
Total liabilities
|
| | | $ | 9,311,518 | | | | | $ | 9,262,034 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
(thousands of United States dollars)
|
| |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
Restated(i)
|
| | | | | | | |
Restated(i)
|
| ||||||
Net income for the period — basic
|
| | | $ | 567,118 | | | | | $ | 174,803 | | | | | $ | 1,386,326 | | | | | $ | 2,315,364 | | |
Dilutive impact of cash settling Long Term Incentive
Plan |
| | | | — | | | | | | (1,915) | | | | | | — | | | | | | (4,831) | | |
Net income for the period — diluted
|
| | | $ | 567,118 | | | | | $ | 172,888 | | | | | $ | 1,386,326 | | | | | $ | 2,310,533 | | |
Foreign currency translation loss (gain)
|
| | | | 3,436 | | | | | | (6,492) | | | | | | (748) | | | | | | (2,258) | | |
Realized and unrealized (gain) loss on derivative financial instruments
|
| | | | (17,153) | | | | | | 34,010 | | | | | | 48,390 | | | | | | 1,038 | | |
Transaction costs related to acquisitions
|
| | | | — | | | | | | 4,591 | | | | | | — | | | | | | 21,503 | | |
Revaluation gain on Yamana Transaction
|
| | | | — | | | | | | — | | | | | | — | | | | | | (1,543,414) | | |
Environmental remediation
|
| | | | 6,294 | | | | | | 1,890 | | | | | | 11,201 | | | | | | (87) | | |
Net loss on disposal of property, plant and equipment
|
| | | | 5,420 | | | | | | 5,491 | | | | | | 25,786 | | | | | | 9,092 | | |
Purchase price allocation to inventory
|
| | | | — | | | | | | 3,656 | | | | | | — | | | | | | 26,477 | | |
Other(ii)
|
| | | | — | | | | | | 3,262 | | | | | | 13,215 | | | | | | 3,262 | | |
Income and mining taxes adjustments(iii)
|
| | | | 7,462 | | | | | | (5,070) | | | | | | 1,146 | | | | | | (24,293) | | |
Adjusted net income for the period — basic
|
| | | $ | 572,577 | | | | | $ | 216,141 | | | | | $ | 1,485,316 | | | | | $ | 806,684 | | |
Adjusted net income for the period — diluted
|
| | | $ | 572,577 | | | | | $ | 214,226 | | | | | $ | 1,485,316 | | | | | $ | 801,853 | | |
Net income per share — basic
|
| | | $ | 1.13 | | | | | $ | 0.35 | | | | | $ | 2.78 | | | | | $ | 4.76 | | |
Net income per share — diluted
|
| | | $ | 1.13 | | | | | $ | 0.35 | | | | | $ | 2.77 | | | | | $ | 4.74 | | |
Adjusted net income per share — basic
|
| | | $ | 1.14 | | | | | $ | 0.44 | | | | | $ | 2.97 | | | | | $ | 1.66 | | |
Adjusted net income per share — diluted
|
| | | $ | 1.14 | | | | | $ | 0.43 | | | | | $ | 2.97 | | | | | $ | 1.65 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
(thousands of United States dollars)
|
| |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
Restated(i)
|
| | | | | | | |
Restated(i)
|
| ||||||
Net income for the period
|
| | | $ | 567,118 | | | | | $ | 174,803 | | | | | $ | 1,386,326 | | | | | $ | 2,315,364 | | |
Finance costs
|
| | | | 28,527 | | | | | | 35,704 | | | | | | 99,265 | | | | | | 94,989 | | |
Amortization of property, plant and mine development
|
| | | | 390,245 | | | | | | 421,091 | | | | | | 1,125,859 | | | | | | 1,111,364 | | |
Income and mining tax expense
|
| | | | 272,672 | | | | | | 90,412 | | | | | | 652,718 | | | | | | 356,638 | | |
EBITDA
|
| | | | 1,258,562 | | | | | | 722,010 | | | | | | 3,264,168 | | | | | | 3,878,355 | | |
Foreign currency translation loss (gain)
|
| | | | 3,436 | | | | | | (6,492) | | | | | | (748) | | | | | | (2,258) | | |
Realized and unrealized (gain) loss on derivative financial instruments
|
| | | | (17,153) | | | | | | 34,010 | | | | | | 48,390 | | | | | | 1,038 | | |
Transaction costs related to acquisitions
|
| | | | — | | | | | | 4,591 | | | | | | — | | | | | | 21,503 | | |
Revaluation gain on Yamana Transaction
|
| | | | — | | | | | | — | | | | | | — | | | | | | (1,543,414) | | |
Environmental remediation
|
| | | | 6,294 | | | | | | 1,890 | | | | | | 11,201 | | | | | | (87) | | |
Net loss on disposal of property. plant and equipment
|
| | | | 5,420 | | | | | | 5,491 | | | | | | 25,786 | | | | | | 9,092 | | |
Purchase price allocation to inventory
|
| | | | — | | | | | | 3,656 | | | | | | — | | | | | | 26,477 | | |
Other(ii)
|
| | | | — | | | | | | 3,262 | | | | | | 13,215 | | | | | | 3,262 | | |
Adjusted EBITDA
|
| | | $ | 1,256,559 | | | | | $ | 768,418 | | | | | $ | 3,362,012 | | | | | $ | 2,393,968 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
(thousands of United States dollars)
|
| |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
Restated(i)
|
| | | | | | | |
Restated(i)
|
| ||||||
Cash provided by operating activities
|
| | | $ | 1,084,532 | | | | | $ | 502,088 | | | | | $ | 2,829,043 | | | | | $ | 1,873,701 | | |
Additions to property, plant and mine development
|
| | | | (464,101) | | | | | | (419,832) | | | | | | (1,255,786) | | | | | | (1,228,387) | | |
Free cash flow
|
| | | | 620,431 | | | | | | 82,256 | | | | | | 1,573,257 | | | | | | 645,314 | | |
Changes in income taxes
|
| | | | (95,930) | | | | | | 7,425 | | | | | | (142,732) | | | | | | (81,980) | | |
Changes in inventory
|
| | | | 156,871 | | | | | | 118,251 | | | | | | 165,727 | | | | | | 144,998 | | |
Changes in other current assets
|
| | | | (41,263) | | | | | | 3,527 | | | | | | 16,237 | | | | | | 86,947 | | |
Changes in accounts payable and accrued liabilities
|
| | | | (80,704) | | | | | | 49,432 | | | | | | (74,622) | | | | | | (51,427) | | |
Changes in interest payable
|
| | | | 3,964 | | | | | | (12,067) | | | | | | (2,867) | | | | | | (1,760) | | |
Free cash flow before changes in non-cash components
of working capital |
| | | $ | 563,369 | | | | | $ | 248,824 | | | | | $ | 1,535,000 | | | | | $ | 742,092 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
(thousands of United States dollars)
|
| |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
LaRonde mine
|
| | | $ | 74,244 | | | | | $ | 66,477 | | | | | $ | 193,482 | | | | | $ | 170,153 | | |
LaRonde Zone 5 mine
|
| | | | 18,916 | | | | | | 18,715 | | | | | | 58,059 | | | | | | 62,702 | | |
LaRonde complex
|
| | | | 93,160 | | | | | | 85,192 | | | | | | 251,541 | | | | | | 232,855 | | |
Canadian Malartic(i)
|
| | | | 128,984 | | | | | | 125,455 | | | | | | 399,893 | | | | | | 326,936 | | |
Goldex
|
| | | | 34,265 | | | | | | 28,805 | | | | | | 100,531 | | | | | | 84,800 | | |
Meliadine
|
| | | | 75,099 | | | | | | 89,210 | | | | | | 254,463 | | | | | | 249,221 | | |
Meadowbank
|
| | | | 115,705 | | | | | | 133,919 | | | | | | 352,881 | | | | | | 381,411 | | |
Kittila
|
| | | | 59,968 | | | | | | 58,569 | | | | | | 176,535 | | | | | | 155,200 | | |
Detour Lake
|
| | | | 127,159 | | | | | | 106,396 | | | | | | 379,366 | | | | | | 333,214 | | |
Macassa
|
| | | | 48,086 | | | | | | 35,864 | | | | | | 146,763 | | | | | | 112,368 | | |
Fosterville
|
| | | | 44,346 | | | | | | 27,539 | | | | | | 114,824 | | | | | | 99,969 | | |
Pinos Altos
|
| | | | 46,464 | | | | | | 40,147 | | | | | | 122,980 | | | | | | 107,778 | | |
La India
|
| | | | 10,417 | | | | | | 28,315 | | | | | | 39,445 | | | | | | 72,056 | | |
Production costs per the condensed interim consolidated
statements of income |
| | | $ | 783,653 | | | | | $ | 759,411 | | | | | $ | 2,339,222 | | | | | $ | 2,155,808 | | |
LaRonde mine
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
47,313
|
| |
49,303
|
| |
161,388
|
| |
167,471
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 74,244 | | | | | $ | 1,569 | | | | | $ | 66,477 | | | | | $ | 1,348 | | | | | $ | 193,482 | | | | | $ | 1,199 | | | | | $ | 170,153 | | | | | $ | 1,016 | | |
Inventory adjustments(ii)
|
| | | | (14,425) | | | | | | (305) | | | | | | (16,200) | | | | | | (328) | | | | | | (12,892) | | | | | | (80) | | | | | | (2,666) | | | | | | (16) | | |
Realized gains and losses on hedges of production costs
|
| | | | 246 | | | | | | 5 | | | | | | 317 | | | | | | 6 | | | | | | 616 | | | | | | 4 | | | | | | 2,165 | | | | | | 13 | | |
Other adjustments(v)
|
| | | | 1,015 | | | | | | 22 | | | | | | 4,178 | | | | | | 85 | | | | | | 9,235 | | | | | | 57 | | | | | | 14,081 | | | | | | 84 | | |
Total cash costs (co-product
basis) |
| | | $ | 61,080 | | | | | $ | 1,291 | | | | | $ | 54,772 | | | | | $ | 1,111 | | | | | $ | 190,441 | | | | | $ | 1,180 | | | | | $ | 183,733 | | | | | $ | 1,097 | | |
By-product metal revenues
|
| | | | (10,097) | | | | | | (213) | | | | | | (11,627) | | | | | | (236) | | | | | | (39,703) | | | | | | (246) | | | | | | (41,316) | | | | | | (247) | | |
Total cash costs (by-product
basis) |
| | | $ | 50,983 | | | | | $ | 1,078 | | | | | $ | 43,145 | | | | | $ | 875 | | | | | $ | 150,738 | | | | | $ | 934 | | | | | $ | 142,417 | | | | | $ | 850 | | |
LaRonde mine
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
355
|
| |
365
|
| |
1,149
|
| |
1,101
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 74,244 | | | | | $ | 209 | | | | | $ | 66,477 | | | | | $ | 182 | | | | | $ | 193,482 | | | | | $ | 168 | | | | | $ | 170,153 | | | | | $ | 155 | | |
Production costs (C$)
|
| | | C$ | 101,221 | | | | | C$ | 285 | | | | | C$ | 89,228 | | | | | C$ | 244 | | | | | C$ | 262,638 | | | | | C$ | 229 | | | | | C$ | 228,662 | | | | | C$ | 208 | | |
Inventory adjustments (C$)(iii)
|
| | | | (18,800) | | | | | | (53) | | | | | | (19,881) | | | | | | (54) | | | | | | (16,069) | | | | | | (14) | | | | | | (1,455) | | | | | | (1) | | |
Other adjustments (C$)(v)
|
| | | | (4,419) | | | | | | (12) | | | | | | (2,752) | | | | | | (8) | | | | | | (8,019) | | | | | | (7) | | | | | | (9,195) | | | | | | (9) | | |
Minesite costs (C$)
|
| | | C$ | 78,002 | | | | | C$ | 220 | | | | | C$ | 66,595 | | | | | C$ | 182 | | | | | C$ | 238,550 | | | | | C$ | 208 | | | | | C$ | 218,012 | | | | | C$ | 198 | | |
LaRonde Zone 5 mine
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
18,292
|
| |
15,193
|
| |
54,915
|
| |
53,412
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 18,916 | | | | | $ | 1,034 | | | | | $ | 18,715 | | | | | $ | 1,232 | | | | | $ | 58,059 | | | | | $ | 1,057 | | | | | $ | 62,702 | | | | | $ | 1,174 | | |
Inventory adjustments(ii)
|
| | | | 3,752 | | | | | | 205 | | | | | | 134 | | | | | | 9 | | | | | | 3,820 | | | | | | 70 | | | | | | (127) | | | | | | (2) | | |
Realized gains and losses on hedges of production costs
|
| | | | 86 | | | | | | 5 | | | | | | 106 | | | | | | 7 | | | | | | 215 | | | | | | 4 | | | | | | 722 | | | | | | 13 | | |
Other adjustments(v)
|
| | | | 1,030 | | | | | | 56 | | | | | | 753 | | | | | | 49 | | | | | | 2,396 | | | | | | 43 | | | | | | 1,864 | | | | | | 35 | | |
Total cash costs (co-product
basis) |
| | | $ | 23,784 | | | | | $ | 1,300 | | | | | $ | 19,708 | | | | | $ | 1,297 | | | | | $ | 64,490 | | | | | $ | 1,174 | | | | | $ | 65,161 | | | | | $ | 1,220 | | |
By-product metal revenues
|
| | | | (274) | | | | | | (15) | | | | | | (152) | | | | | | (10) | | | | | | (772) | | | | | | (14) | | | | | | (698) | | | | | | (13) | | |
Total cash costs (by-product
basis) |
| | | $ | 23,510 | | | | | $ | 1,285 | | | | | $ | 19,556 | | | | | $ | 1,287 | | | | | $ | 63,718 | | | | | $ | 1,160 | | | | | $ | 64,463 | | | | | $ | 1,207 | | |
LaRonde Zone 5 mine
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
332
|
| |
262
|
| |
898
|
| |
894
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 18,916 | | | | | $ | 57 | | | | | $ | 18,715 | | | | | $ | 71 | | | | | $ | 58,059 | | | | | $ | 65 | | | | | $ | 62,702 | | | | | $ | 70 | | |
Production costs (C$)
|
| | | C$ | 25,740 | | | | | C$ | 78 | | | | | C$ | 25,082 | | | | | C$ | 96 | | | | | C$ | 78,984 | | | | | C$ | 88 | | | | | C$ | 84,347 | | | | | C$ | 94 | | |
Inventory adjustments (C$)(iii)
|
| | | | 5,072 | | | | | | 15 | | | | | | 234 | | | | | | — | | | | | | 5,192 | | | | | | 6 | | | | | | (175) | | | | | | — | | |
Minesite costs (C$)
|
| | | C$ | 30,812 | | | | | C$ | 93 | | | | | C$ | 25,316 | | | | | C$ | 96 | | | | | C$ | 84,176 | | | | | C$ | 94 | | | | | C$ | 84,172 | | | | | C$ | 94 | | |
LaRonde complex
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
65,605
|
| |
64,496
|
| |
216,303
|
| |
220,883
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 93,160 | | | | | $ | 1,420 | | | | | $ | 85,192 | | | | | $ | 1,321 | | | | | $ | 251,541 | | | | | $ | 1,163 | | | | | $ | 232,855 | | | | | $ | 1,054 | | |
Inventory adjustments(ii)
|
| | | | (10,673) | | | | | | (162) | | | | | | (16,066) | | | | | | (249) | | | | | | (9,072) | | | | | | (42) | | | | | | (2,793) | | | | | | (13) | | |
Realized gains and losses on hedges of production costs
|
| | | | 332 | | | | | | 5 | | | | | | 423 | | | | | | 7 | | | | | | 831 | | | | | | 4 | | | | | | 2,887 | | | | | | 13 | | |
Other adjustments(v)
|
| | | | 2,045 | | | | | | 31 | | | | | | 4,931 | | | | | | 76 | | | | | | 11,631 | | | | | | 54 | | | | | | 15,945 | | | | | | 73 | | |
Total cash costs (co-product
basis) |
| | | $ | 84,864 | | | | | $ | 1,294 | | | | | $ | 74,480 | | | | | $ | 1,155 | | | | | $ | 254,931 | | | | | $ | 1,179 | | | | | $ | 248,894 | | | | | $ | 1,127 | | |
By-product metal revenues
|
| | | | (10,371) | | | | | | (159) | | | | | | (11,779) | | | | | | (183) | | | | | | (40,475) | | | | | | (188) | | | | | | (42,014) | | | | | | (190) | | |
Total cash costs (by-product
basis) |
| | | $ | 74,493 | | | | | $ | 1,135 | | | | | $ | 62,701 | | | | | $ | 972 | | | | | $ | 214,456 | | | | | $ | 991 | | | | | $ | 206,880 | | | | | $ | 937 | | |
LaRonde complex
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
687
|
| |
627
|
| |
2,047
|
| |
1,995
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 93,160 | | | | | $ | 136 | | | | | $ | 85,192 | | | | | $ | 136 | | | | | $ | 251,541 | | | | | $ | 123 | | | | | $ | 232,855 | | | | | $ | 117 | | |
Production costs (C$)
|
| | | C$ | 126,961 | | | | | C$ | 185 | | | | | C$ | 114,310 | | | | | C$ | 182 | | | | | C$ | 341,622 | | | | | C$ | 167 | | | | | C$ | 313,009 | | | | | C$ | 157 | | |
Inventory adjustments (C$)(iii)
|
| | | | (13,728) | | | | | | (20) | | | | | | (19,647) | | | | | | (31) | | | | | | (10,877) | | | | | | (5) | | | | | | (1,630) | | | | | | (1) | | |
Other adjustments (C$)(v)
|
| | | | (4,419) | | | | | | (7) | | | | | | (2,752) | | | | | | (4) | | | | | | (8,019) | | | | | | (4) | | | | | | (9,195) | | | | | | (5) | | |
Minesite costs (C$)
|
| | | C$ | 108,814 | | | | | C$ | 158 | | | | | C$ | 91,911 | | | | | C$ | 147 | | | | | C$ | 322,726 | | | | | C$ | 158 | | | | | C$ | 302,184 | | | | | C$ | 151 | | |
Canadian Malartic
(per ounce)(i) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
141,392
|
| |
177,243
|
| |
509,169
|
| |
435,683
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 128,984 | | | | | $ | 912 | | | | | $ | 125,455 | | | | | $ | 708 | | | | | $ | 399,893 | | | | | $ | 785 | | | | | $ | 326,936 | | | | | $ | 750 | | |
Inventory adjustments(ii)
|
| | | | (2,590) | | | | | | (18) | | | | | | 6,994 | | | | | | 39 | | | | | | 7,076 | | | | | | 14 | | | | | | 7,532 | | | | | | 17 | | |
Realized gains and losses on hedges of production costs
|
| | | | 997 | | | | | | 7 | | | | | | — | | | | | | — | | | | | | 2,037 | | | | | | 4 | | | | | | — | | | | | | — | | |
Purchase price allocation to inventory(iv)
|
| | | | — | | | | | | — | | | | | | (3,626) | | | | | | (20) | | | | | | — | | | | | | — | | | | | | (26,447) | | | | | | (61) | | |
In-kind royalties and other adjustments(v)
|
| | | | 19,269 | | | | | | 136 | | | | | | 15,414 | | | | | | 87 | | | | | | 58,292 | | | | | | 115 | | | | | | 40,631 | | | | | | 94 | | |
Total cash costs (co-product
basis) |
| | | $ | 146,660 | | | | | $ | 1,037 | | | | | $ | 144,237 | | | | | $ | 814 | | | | | $ | 467,298 | | | | | $ | 918 | | | | | $ | 348,652 | | | | | $ | 800 | | |
By-product metal revenues
|
| | | | (1,777) | | | | | | (12) | | | | | | (1,551) | | | | | | (9) | | | | | | (5,945) | | | | | | (12) | | | | | | (4,758) | | | | | | (11) | | |
Total cash costs (by-product
basis) |
| | | $ | 144,883 | | | | | $ | 1,025 | | | | | $ | 142,686 | | | | | $ | 805 | | | | | $ | 461,353 | | | | | $ | 906 | | | | | $ | 343,894 | | | | | $ | 789 | | |
Canadian Malartic
(per tonne)(i) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
4,862
|
| |
4,911
|
| |
15,217
|
| |
12,055
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 128,984 | | | | | $ | 27 | | | | | $ | 125,455 | | | | | $ | 26 | | | | | $ | 399,893 | | | | | $ | 26 | | | | | $ | 326,936 | | | | | $ | 27 | | |
Production costs (C$)
|
| | | C$ | 175,462 | | | | | C$ | 36 | | | | | C$ | 168,339 | | | | | C$ | 34 | | | | | C$ | 543,010 | | | | | C$ | 36 | | | | | C$ | 440,001 | | | | | C$ | 36 | | |
Inventory adjustments (C$)(iii)
|
| | | | (3,655) | | | | | | (1) | | | | | | 9,569 | | | | | | 2 | | | | | | 9,830 | | | | | | — | | | | | | 10,820 | | | | | | 1 | | |
Purchase price allocation to inventory (C$)(iv)
|
| | | | — | | | | | | — | | | | | | (3,904) | | | | | | (1) | | | | | | — | | | | | | — | | | | | | (34,555) | | | | | | (3) | | |
In-kind royalties and other adjustments (C$)(v)
|
| | | | 25,677 | | | | | | 6 | | | | | | 20,081 | | | | | | 4 | | | | | | 78,244 | | | | | | 5 | | | | | | 53,505 | | | | | | 5 | | |
Minesite costs (C$)
|
| | | C$ | 197,484 | | | | | C$ | 41 | | | | | C$ | 194,085 | | | | | C$ | 39 | | | | | C$ | 631,084 | | | | | C$ | 41 | | | | | C$ | 469,771 | | | | | C$ | 39 | | |
Goldex
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
30,334
|
| |
35,880
|
| |
98,472
|
| |
107,619
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 34,265 | | | | | $ | 1,130 | | | | | $ | 28,805 | | | | | $ | 803 | | | | | $ | 100,531 | | | | | $ | 1,021 | | | | | $ | 84,800 | | | | | $ | 788 | | |
Inventory adjustments(ii)
|
| | | | (1,161) | | | | | | (39) | | | | | | 439 | | | | | | 12 | | | | | | (482) | | | | | | (5) | | | | | | (16) | | | | | | — | | |
Realized gains and losses on hedges of production costs
|
| | | | 148 | | | | | | 5 | | | | | | 207 | | | | | | 6 | | | | | | 369 | | | | | | 4 | | | | | | 1,419 | | | | | | 13 | | |
Other adjustments(v)
|
| | | | 762 | | | | | | 25 | | | | | | 47 | | | | | | 1 | | | | | | 1,959 | | | | | | 20 | | | | | | 149 | | | | | | 1 | | |
Total cash costs (co-product
basis) |
| | | $ | 34,014 | | | | | $ | 1,121 | | | | | $ | 29,498 | | | | | $ | 822 | | | | | $ | 102,377 | | | | | $ | 1,040 | | | | | $ | 86,352 | | | | | $ | 802 | | |
By-product metal revenues
|
| | | | (2,743) | | | | | | (90) | | | | | | (13) | | | | | | — | | | | | | (9,359) | | | | | | (95) | | | | | | (38) | | | | | | — | | |
Total cash costs (by-product
basis) |
| | | $ | 31,271 | | | | | $ | 1,031 | | | | | $ | 29,485 | | | | | $ | 822 | | | | | $ | 93,018 | | | | | $ | 945 | | | | | $ | 86,314 | | | | | $ | 802 | | |
Goldex
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
739
|
| |
756
|
| |
2,264
|
| |
2,215
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 34,265 | | | | | $ | 46 | | | | | $ | 28,805 | | | | | $ | 38 | | | | | $ | 100,531 | | | | | $ | 44 | | | | | $ | 84,800 | | | | | $ | 38 | | |
Production costs (C$)
|
| | | C$ | 46,696 | | | | | C$ | 63 | | | | | C$ | 38,656 | | | | | C$ | 51 | | | | | C$ | 136,615 | | | | | C$ | 60 | | | | | C$ | 114,142 | | | | | C$ | 52 | | |
Inventory adjustments (C$)(iii)
|
| | | | (1,619) | | | | | | (2) | | | | | | 625 | | | | | | 1 | | | | | | (580) | | | | | | — | | | | | | (35) | | | | | | — | | |
Minesite costs (C$)
|
| | | C$ | 45,077 | | | | | C$ | 61 | | | | | C$ | 39,281 | | | | | C$ | 52 | | | | | C$ | 136,035 | | | | | C$ | 60 | | | | | C$ | 114,107 | | | | | C$ | 52 | | |
Meliadine
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
99,838
|
| |
89,707
|
| |
284,238
|
| |
267,856
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 75,099 | | | | | $ | 752 | | | | | $ | 89,210 | | | | | $ | 994 | | | | | $ | 254,463 | | | | | $ | 895 | | | | | $ | 249,221 | | | | | $ | 930 | | |
Inventory adjustments(ii)
|
| | | | 13,212 | | | | | | 132 | | | | | | (2,334) | | | | | | (26) | | | | | | 2,457 | | | | | | 9 | | | | | | 12,518 | | | | | | 47 | | |
Realized gains and losses on hedges of production costs
|
| | | | 505 | | | | | | 5 | | | | | | 299 | | | | | | 3 | | | | | | 1,612 | | | | | | 6 | | | | | | (64) | | | | | | — | | |
Other adjustments(v)
|
| | | | 65 | | | | | | 1 | | | | | | 59 | | | | | | 1 | | | | | | 100 | | | | | | — | | | | | | 46 | | | | | | — | | |
Total cash costs (co-product
basis) |
| | | $ | 88,881 | | | | | $ | 890 | | | | | $ | 87,234 | | | | | $ | 972 | | | | | $ | 258,632 | | | | | $ | 910 | | | | | $ | 261,721 | | | | | $ | 977 | | |
By-product metal revenues
|
| | | | (135) | | | | | | (1) | | | | | | (138) | | | | | | (1) | | | | | | (650) | | | | | | (2) | | | | | | (477) | | | | | | (2) | | |
Total cash costs (by-product
basis) |
| | | $ | 88,746 | | | | | $ | 889 | | | | | $ | 87,096 | | | | | $ | 971 | | | | | $ | 257,982 | | | | | $ | 908 | | | | | $ | 261,244 | | | | | $ | 975 | | |
Meliadine
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
533
|
| |
470
|
| |
1,450
|
| |
1,407
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 75,099 | | | | | $ | 141 | | | | | $ | 89,210 | | | | | $ | 190 | | | | | $ | 254,463 | | | | | $ | 176 | | | | | $ | 249,221 | | | | | $ | 177 | | |
Production costs (C$)
|
| | | C$ | 102,391 | | | | | C$ | 192 | | | | | C$ | 119,181 | | | | | C$ | 254 | | | | | C$ | 345,186 | | | | | C$ | 238 | | | | | C$ | 333,896 | | | | | C$ | 237 | | |
Inventory adjustments (C$)(iii)
|
| | | | 17,937 | | | | | | 34 | | | | | | (2,555) | | | | | | (6) | | | | | | 3,724 | | | | | | 3 | | | | | | 17,051 | | | | | | 12 | | |
Minesite costs (C$)
|
| | | C$ | 120,328 | | | | | C$ | 226 | | | | | C$ | 116,626 | | | | | C$ | 248 | | | | | C$ | 348,910 | | | | | C$ | 241 | | | | | C$ | 350,947 | | | | | C$ | 249 | | |
Meadowbank
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
133,502
|
| |
116,555
|
| |
387,695
|
| |
322,440
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 115,705 | | | | | $ | 867 | | | | | $ | 133,919 | | | | | $ | 1,149 | | | | | $ | 352,881 | | | | | $ | 910 | | | | | $ | 381,411 | | | | | $ | 1,183 | | |
Inventory adjustments(ii)
|
| | | | 6,117 | | | | | | 46 | | | | | | 9,165 | | | | | | 78 | | | | | | 5,412 | | | | | | 14 | | | | | | 2,463 | | | | | | 8 | | |
Realized gains and losses on hedges of production costs
|
| | | | 681 | | | | | | 5 | | | | | | 115 | | | | | | 1 | | | | | | 2,502 | | | | | | 6 | | | | | | (3,502) | | | | | | (11) | | |
Other adjustments(v)
|
| | | | (1) | | | | | | — | | | | | | 101 | | | | | | 1 | | | | | | (46) | | | | | | — | | | | | | 50 | | | | | | — | | |
Total cash costs (co-product
basis) |
| | | $ | 122,502 | | | | | $ | 918 | | | | | $ | 143,300 | | | | | $ | 1,229 | | | | | $ | 360,749 | | | | | $ | 930 | | | | | $ | 380,422 | | | | | $ | 1,180 | | |
By-product metal revenues
|
| | | | (978) | | | | | | (8) | | | | | | (573) | | | | | | (4) | | | | | | (2,952) | | | | | | (7) | | | | | | (2,121) | | | | | | (7) | | |
Total cash costs (by-product
basis) |
| | | $ | 121,524 | | | | | $ | 910 | | | | | $ | 142,727 | | | | | $ | 1,225 | | | | | $ | 357,797 | | | | | $ | 923 | | | | | $ | 378,301 | | | | | $ | 1,173 | | |
Meadowbank
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
1,083
|
| |
1,077
|
| |
3,144
|
| |
2,905
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 115,705 | | | | | $ | 107 | | | | | $ | 133,919 | | | | | $ | 124 | | | | | $ | 352,881 | | | | | $ | 112 | | | | | $ | 381,411 | | | | | $ | 131 | | |
Production costs (C$)
|
| | | C$ | 157,247 | | | | | C$ | 145 | | | | | C$ | 179,597 | | | | | C$ | 167 | | | | | C$ | 478,366 | | | | | C$ | 152 | | | | | C$ | 509,982 | | | | | C$ | 176 | | |
Inventory adjustments (C$)(iii)
|
| | | | 8,236 | | | | | | 8 | | | | | | 12,457 | | | | | | 11 | | | | | | 7,470 | | | | | | 3 | | | | | | 3,599 | | | | | | 1 | | |
Minesite costs (C$)
|
| | | C$ | 165,483 | | | | | C$ | 153 | | | | | C$ | 192,054 | | | | | C$ | 178 | | | | | C$ | 485,836 | | | | | C$ | 155 | | | | | C$ | 513,581 | | | | | C$ | 177 | | |
Kittila
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
56,715
|
| |
59,408
|
| |
166,967
|
| |
173,230
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 59,968 | | | | | $ | 1,057 | | | | | $ | 58,569 | | | | | $ | 986 | | | | | $ | 176,535 | | | | | $ | 1,057 | | | | | $ | 155,200 | | | | | $ | 896 | | |
Inventory adjustments(ii)
|
| | | | (2,410) | | | | | | (42) | | | | | | (2,439) | | | | | | (41) | | | | | | (3,554) | | | | | | (21) | | | | | | 305 | | | | | | 2 | | |
Realized gains and losses on hedges of production costs
|
| | | | (157) | | | | | | (3) | | | | | | (788) | | | | | | (13) | | | | | | (138) | | | | | | (1) | | | | | | (2,346) | | | | | | (14) | | |
Other adjustments(v)
|
| | | | (41) | | | | | | (1) | | | | | | (20) | | | | | | (1) | | | | | | (161) | | | | | | (1) | | | | | | (1,293) | | | | | | (7) | | |
Total cash costs (co-product
basis) |
| | | $ | 57,360 | | | | | $ | 1,011 | | | | | $ | 55,322 | | | | | $ | 931 | | | | | $ | 172,682 | | | | | $ | 1,034 | | | | | $ | 151,866 | | | | | $ | 877 | | |
By-product metal revenues
|
| | | | (102) | | | | | | (1) | | | | | | (51) | | | | | | (1) | | | | | | (289) | | | | | | (1) | | | | | | (213) | | | | | | (2) | | |
Total cash costs (by-product
basis) |
| | | $ | 57,258 | | | | | $ | 1,010 | | | | | $ | 55,271 | | | | | $ | 930 | | | | | $ | 172,393 | | | | | $ | 1,033 | | | | | $ | 151,653 | | | | | $ | 875 | | |
Kittila
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
544
|
| |
527
|
| |
1,550
|
| |
1,440
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 59,968 | | | | | $ | 110 | | | | | $ | 58,569 | | | | | $ | 111 | | | | | $ | 176,535 | | | | | $ | 114 | | | | | $ | 155,200 | | | | | $ | 108 | | |
Production costs (€)
|
| | | € | 54,519 | | | | | € | 100 | | | | | € | 53,071 | | | | | € | 101 | | | | | € | 162,375 | | | | | € | 105 | | | | | € | 144,073 | | | | | € | 100 | | |
Inventory adjustments (€)(iii)
|
| | | | (2,469) | | | | | | (4) | | | | | | (960) | | | | | | (2) | | | | | | (3,354) | | | | | | (2) | | | | | | (128) | | | | | | — | | |
Minesite costs (€)
|
| | | € | 52,050 | | | | | € | 96 | | | | | € | 52,111 | | | | | € | 99 | | | | | € | 159,021 | | | | | € | 103 | | | | | € | 143,945 | | | | | € | 100 | | |
Detour Lake
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
173,891
|
| |
152,762
|
| |
492,889
|
| |
483,971
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 127,159 | | | | | $ | 731 | | | | | $ | 106,396 | | | | | $ | 696 | | | | | $ | 379,366 | | | | | $ | 770 | | | | | $ | 333,214 | | | | | $ | 688 | | |
Inventory adjustments(ii)
|
| | | | (2,726) | | | | | | (16) | | | | | | 3,705 | | | | | | 24 | | | | | | (7,295) | | | | | | (15) | | | | | | 3,537 | | | | | | 7 | | |
Realized gains and losses on hedges of production costs
|
| | | | 1,247 | | | | | | 7 | | | | | | (1,530) | | | | | | (10) | | | | | | 2,394 | | | | | | 5 | | | | | | 4,565 | | | | | | 10 | | |
In-kind royalties and other adjustments(v)
|
| | | | 10,726 | | | | | | 62 | | | | | | 7,063 | | | | | | 47 | | | | | | 27,593 | | | | | | 56 | | | | | | 24,048 | | | | | | 50 | | |
Total cash costs (co-product
basis) |
| | | $ | 136,406 | | | | | $ | 784 | | | | | $ | 115,634 | | | | | $ | 757 | | | | | $ | 402,058 | | | | | $ | 816 | | | | | $ | 365,364 | | | | | $ | 755 | | |
By-product metal revenues
|
| | | | (757) | | | | | | (5) | | | | | | (288) | | | | | | (2) | | | | | | (2,003) | | | | | | (4) | | | | | | (1,475) | | | | | | (3) | | |
Total cash costs (by-product
basis) |
| | | $ | 135,649 | | | | | $ | 779 | | | | | $ | 115,346 | | | | | $ | 755 | | | | | $ | 400,055 | | | | | $ | 812 | | | | | $ | 363,889 | | | | | $ | 752 | | |
Detour Lake
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
7,082
|
| |
5,630
|
| |
20,376
|
| |
18,827
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 127,159 | | | | | $ | 18 | | | | | $ | 106,396 | | | | | $ | 19 | | | | | $ | 379,366 | | | | | $ | 19 | | | | | $ | 333,214 | | | | | $ | 18 | | |
Production costs (C$)
|
| | | C$ | 172,973 | | | | | C$ | 24 | | | | | C$ | 142,461 | | | | | C$ | 25 | | | | | C$ | 515,371 | | | | | C$ | 25 | | | | | C$ | 448,014 | | | | | C$ | 24 | | |
Inventory adjustments (C$)(iii)
|
| | | | (3,935) | | | | | | — | | | | | | (8,125) | | | | | | (1) | | | | | | (9,622) | | | | | | — | | | | | | 4,747 | | | | | | — | | |
In-kind royalties and other adjustments (C$)(v)
|
| | | | 11,914 | | | | | | 2 | | | | | | 8,339 | | | | | | 1 | | | | | | 30,538 | | | | | | 1 | | | | | | 28,485 | | | | | | 2 | | |
Minesite costs (C$)
|
| | | C$ | 180,952 | | | | | C$ | 26 | | | | | C$ | 142,675 | | | | | C$ | 25 | | | | | C$ | 536,287 | | | | | C$ | 26 | | | | | C$ | 481,246 | | | | | C$ | 26 | | |
Macassa
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
70,727
|
| |
46,792
|
| |
203,048
|
| |
167,951
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 48,086 | | | | | $ | 680 | | | | | $ | 35,864 | | | | | $ | 766 | | | | | $ | 146,763 | | | | | $ | 723 | | | | | $ | 112,368 | | | | | $ | 669 | | |
Inventory adjustments(ii)
|
| | | | 2,568 | | | | | | 36 | | | | | | 1,870 | | | | | | 40 | | | | | | 1,038 | | | | | | 5 | | | | | | 397 | | | | | | 2 | | |
Realized gains and losses on hedges of production costs
|
| | | | 304 | | | | | | 4 | | | | | | 334 | | | | | | 7 | | | | | | 759 | | | | | | 4 | | | | | | 2,283 | | | | | | 14 | | |
In-kind royalties and other adjustments(v)
|
| | | | 2,563 | | | | | | 37 | | | | | | 1,376 | | | | | | 30 | | | | | | 7,076 | | | | | | 34 | | | | | | 6,133 | | | | | | 37 | | |
Total cash costs (co-product
basis) |
| | | $ | 53,521 | | | | | $ | 757 | | | | | $ | 39,444 | | | | | $ | 843 | | | | | $ | 155,636 | | | | | $ | 766 | | | | | $ | 121,181 | | | | | $ | 722 | | |
By-product metal revenues
|
| | | | (442) | | | | | | (7) | | | | | | (107) | | | | | | (2) | | | | | | (662) | | | | | | (3) | | | | | | (483) | | | | | | (3) | | |
Total cash costs (by-product
basis) |
| | | $ | 53,079 | | | | | $ | 750 | | | | | $ | 39,337 | | | | | $ | 841 | | | | | $ | 154,974 | | | | | $ | 763 | | | | | $ | 120,698 | | | | | $ | 719 | | |
Macassa
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
134
|
| |
112
|
| |
420
|
| |
311
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 48,086 | | | | | $ | 359 | | | | | $ | 35,864 | | | | | $ | 320 | | | | | $ | 146,763 | | | | | $ | 349 | | | | | $ | 112,368 | | | | | $ | 361 | | |
Production costs (C$)
|
| | | C$ | 65,489 | | | | | C$ | 489 | | | | | C$ | 48,508 | | | | | C$ | 435 | | | | | C$ | 199,917 | | | | | C$ | 476 | | | | | C$ | 151,744 | | | | | C$ | 488 | | |
Inventory adjustments (C$)(iii)
|
| | | | 3,408 | | | | | | 25 | | | | | | 2,834 | | | | | | 25 | | | | | | 1,468 | | | | | | 4 | | | | | | 758 | | | | | | 2 | | |
In-kind royalties and other adjustments (C$)(v)
|
| | | | 3,348 | | | | | | 25 | | | | | | 1,754 | | | | | | 16 | | | | | | 9,301 | | | | | | 22 | | | | | | 8,045 | | | | | | 26 | | |
Minesite costs (C$)
|
| | | C$ | 72,245 | | | | | C$ | 539 | | | | | C$ | 53,096 | | | | | C$ | 476 | | | | | C$ | 210,686 | | | | | C$ | 502 | | | | | C$ | 160,547 | | | | | C$ | 516 | | |
Fosterville
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
65,532
|
| |
59,790
|
| |
188,064
|
| |
228,161
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 44,346 | | | | | $ | 677 | | | | | $ | 27,539 | | | | | $ | 461 | | | | | $ | 114,824 | | | | | $ | 611 | | | | | $ | 99,969 | | | | | $ | 438 | | |
Inventory adjustments(ii)
|
| | | | (1,523) | | | | | | (23) | | | | | | 1,093 | | | | | | 18 | | | | | | (1,277) | | | | | | (7) | | | | | | (1,792) | | | | | | (8) | | |
Realized gains and losses on hedges of production costs
|
| | | | (80) | | | | | | (1) | | | | | | 1,101 | | | | | | 18 | | | | | | 6 | | | | | | — | | | | | | 1,778 | | | | | | 8 | | |
Other adjustments(v)
|
| | | | 23 | | | | | | — | | | | | | 7 | | | | | | — | | | | | | 52 | | | | | | — | | | | | | 46 | | | | | | — | | |
Total cash costs (co-product
basis) |
| | | $ | 42,766 | | | | | $ | 653 | | | | | $ | 29,740 | | | | | $ | 497 | | | | | $ | 113,605 | | | | | $ | 604 | | | | | $ | 100,001 | | | | | $ | 438 | | |
By-product metal revenues
|
| | | | (135) | | | | | | (2) | | | | | | (119) | | | | | | (2) | | | | | | (462) | | | | | | (2) | | | | | | (397) | | | | | | (1) | | |
Total cash costs (by-product
basis) |
| | | $ | 42,631 | | | | | $ | 651 | | | | | $ | 29,621 | | | | | $ | 495 | | | | | $ | 113,143 | | | | | $ | 602 | | | | | $ | 99,604 | | | | | $ | 437 | | |
Fosterville
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore milled (thousands of tonnes)
|
| |
246
|
| |
144
|
| |
652
|
| |
468
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 44,346 | | | | | $ | 180 | | | | | $ | 27,539 | | | | | $ | 191 | | | | | $ | 114,824 | | | | | $ | 176 | | | | | $ | 99,969 | | | | | $ | 214 | | |
Production costs (A$)
|
| | | A$ | 66,587 | | | | | A$ | 271 | | | | | A$ | 42,194 | | | | | A$ | 291 | | | | | A$ | 173,962 | | | | | A$ | 267 | | | | | A$ | 150,656 | | | | | A$ | 322 | | |
Inventory adjustments (A$)(iii)
|
| | | | (2,406) | | | | | | (10) | | | | | | 1,818 | | | | | | 13 | | | | | | (2,041) | | | | | | (3) | | | | | | (2,539) | | | | | | (6) | | |
Minesite costs (A$)
|
| | | A$ | 64,181 | | | | | A$ | 261 | | | | | A$ | 44,012 | | | | | A$ | 304 | | | | | A$ | 171,921 | | | | | A$ | 264 | | | | | A$ | 148,117 | | | | | A$ | 316 | | |
Pinos Altos
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
21,371
|
| |
25,386
|
| |
69,850
|
| |
71,679
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 46,464 | | | | | $ | 2,174 | | | | | $ | 40,147 | | | | | $ | 1,581 | | | | | $ | 122,980 | | | | | $ | 1,761 | | | | | $ | 107,778 | | | | | $ | 1,504 | | |
Inventory adjustments(ii)
|
| | | | (3,548) | | | | | | (166) | | | | | | 1,225 | | | | | | 48 | | | | | | 2,235 | | | | | | 32 | | | | | | 1,738 | | | | | | 24 | | |
Realized gains and losses on hedges of production costs
|
| | | | — | | | | | | — | | | | | | (922) | | | | | | (36) | | | | | | — | | | | | | — | | | | | | (2,065) | | | | | | (29) | | |
Other adjustments(v)
|
| | | | 317 | | | | | | 15 | | | | | | 324 | | | | | | 13 | | | | | | 980 | | | | | | 14 | | | | | | 902 | | | | | | 13 | | |
Total cash costs (co-product
basis) |
| | | $ | 43,233 | | | | | $ | 2,023 | | | | | $ | 40,774 | | | | | $ | 1,606 | | | | | $ | 126,195 | | | | | $ | 1,807 | | | | | $ | 108,353 | | | | | $ | 1,512 | | |
By-product metal revenues
|
| | | | (10,517) | | | | | | (492) | | | | | | (7,527) | | | | | | (296) | | | | | | (26,556) | | | | | | (381) | | | | | | (19,754) | | | | | | (276) | | |
Total cash costs (by-product
basis) |
| | | $ | 32,716 | | | | | $ | 1,531 | | | | | $ | 33,247 | | | | | $ | 1,310 | | | | | $ | 99,639 | | | | | $ | 1,426 | | | | | $ | 88,599 | | | | | $ | 1,236 | | |
Pinos Altos
(per tonne) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore processed (thousands
of tonnes) |
| |
446
|
| |
450
|
| |
1,326
|
| |
1,215
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 46,464 | | | | | $ | 104 | | | | | $ | 40,147 | | | | | $ | 89 | | | | | $ | 122,980 | | | | | $ | 93 | | | | | $ | 107,778 | | | | | $ | 89 | | |
Inventory adjustments(iii)
|
| | | | (3,548) | | | | | | (8) | | | | | | (1,984) | | | | | | (4) | | | | | | 2,235 | | | | | | 1 | | | | | | (327) | | | | | | (1) | | |
Minesite costs
|
| | | $ | 42,916 | | | | | $ | 96 | | | | | $ | 38,163 | | | | | $ | 85 | | | | | $ | 125,215 | | | | | $ | 94 | | | | | $ | 107,451 | | | | | $ | 88 | | |
La India
(per ounce) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Gold production (ounces)
|
| |
4,529
|
| |
22,269
|
| |
21,190
|
| |
56,423
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| |
(thousands)
|
| |
($ per ounce)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 10,417 | | | | | $ | 2,300 | | | | | $ | 28,315 | | | | | $ | 1,271 | | | | | $ | 39,445 | | | | | $ | 1,861 | | | | | $ | 72,056 | | | | | $ | 1,277 | | |
Inventory adjustments(ii)
|
| | | | 2,633 | | | | | | 582 | | | | | | (2,319) | | | | | | (103) | | | | | | 2,780 | | | | | | 131 | | | | | | 447 | | | | | | 8 | | |
Other adjustments(v)
|
| | | | 91 | | | | | | 20 | | | | | | 139 | | | | | | 6 | | | | | | 355 | | | | | | 17 | | | | | | 402 | | | | | | 7 | | |
Total cash costs (co-product
basis) |
| | | $ | 13,141 | | | | | $ | 2,902 | | | | | $ | 26,135 | | | | | $ | 1,174 | | | | | $ | 42,580 | | | | | $ | 2,009 | | | | | $ | 72,905 | | | | | $ | 1,292 | | |
By-product metal revenues
|
| | | | (133) | | | | | | (30) | | | | | | (395) | | | | | | (18) | | | | | | (991) | | | | | | (46) | | | | | | (1,117) | | | | | | (20) | | |
Total cash costs (by-product
basis) |
| | | $ | 13,008 | | | | | $ | 2,872 | | | | | $ | 25,740 | | | | | $ | 1,156 | | | | | $ | 41,589 | | | | | $ | 1,963 | | | | | $ | 71,788 | | | | | $ | 1,272 | | |
La India
(per tonne)(vi) |
| |
Three Months Ended
September 30, 2024 |
| |
Three Months Ended
September 30, 2023 |
| |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||||||||||||||||||||
Tonnes of ore processed (thousands
of tonnes) |
| |
—
|
| |
970
|
| |
—
|
| |
2,510
|
| ||||||||||||||||||||||||||||||||||||
| | |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| |
(thousands)
|
| |
($ per tonne)
|
| ||||||||||||||||||||||||
Production costs
|
| | | $ | 10,417 | | | | | $ | — | | | | | $ | 28,315 | | | | | $ | 29 | | | | | $ | 39,445 | | | | | $ | — | | | | | $ | 72,056 | | | | | $ | 29 | | |
Inventory adjustments(iii)
|
| | | | (10,417) | | | | | | — | | | | | | (2,319) | | | | | | (2) | | | | | | (39,445) | | | | | | — | | | | | | 447 | | | | | | — | | |
Minesite costs
|
| | | $ | — | | | | | $ | — | | | | | $ | 25,996 | | | | | $ | 27 | | | | | $ | — | | | | | $ | — | | | | | $ | 72,503 | | | | | $ | 29 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
(United States dollars per ounce, except where noted)
|
| |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
Production costs per the condensed interim consolidated
statements of income (thousands of United States dollars) |
| | | $ | 783,653 | | | | | $ | 759,411 | | | | | $ | 2,339,222 | | | | | $ | 2,155,808 | | |
Gold production (ounces)
|
| | | | 863,445 | | | | | | 850,429 | | | | | | 2,637,935 | | | | | | 2,536,445 | | |
Production costs per ounce
|
| | | $ | 908 | | | | | $ | 893 | | | | | $ | 887 | | | | | $ | 850 | | |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | |
Inventory adjustments(i)
|
| | | | — | | | | | | 2 | | | | | | — | | | | | | 10 | | |
Purchase price allocation to inventory(ii)
|
| | | | — | | | | | | (4) | | | | | | — | | | | | | (10) | | |
Realized gains and losses on hedges of production costs
|
| | | | 5 | | | | | | (1) | | | | | | 4 | | | | | | 2 | | |
Other(iii)
|
| | | | 40 | | | | | | 34 | | | | | | 40 | | | | | | 33 | | |
Total cash costs per ounce (co-product basis)(iv)
|
| | | $ | 953 | | | | | $ | 924 | | | | | $ | 931 | | | | | $ | 885 | | |
By-product metal revenues
|
| | | | (32) | | | | | | (26) | | | | | | (34) | | | | | | (28) | | |
Total cash costs per ounce (by-product basis)(iv)
|
| | | $ | 921 | | | | | $ | 898 | | | | | $ | 897 | | | | | $ | 857 | | |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | |
Sustaining capital expenditures (including capitalized exploration)
|
| | | | 292 | | | | | | 248 | | | | | | 244 | | | | | | 234 | | |
General and administrative expenses (including stock option expense)
|
| | | | 56 | | | | | | 45 | | | | | | 55 | | | | | | 53 | | |
Non-cash reclamation provision and sustaining leases(v)
|
| | | | 17 | | | | | | 19 | | | | | | 18 | | | | | | 18 | | |
All-in sustaining costs per ounce (by-product basis)
|
| | | $ | 1,286 | | | | | $ | 1,210 | | | | | $ | 1,214 | | | | | $ | 1,162 | | |
By-product metal revenues
|
| | | | 32 | | | | | | 26 | | | | | | 34 | | | | | | 28 | | |
All-in sustaining costs per ounce (co-product basis)
|
| | | $ | 1,318 | | | | | $ | 1,236 | | | | | $ | 1,248 | | | | | $ | 1,190 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
(thousands of United States dollars)
|
| |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
LaRonde mine
|
| | | $ | 14,706 | | | | | $ | 17,937 | | | | | $ | 51,752 | | | | | $ | 50,938 | | |
LaRonde Zone 5 mine
|
| | | | 5,069 | | | | | | 3,462 | | | | | | 12,722 | | | | | | 6,884 | | |
LaRonde complex
|
| | | | 19,775 | | | | | | 21,399 | | | | | | 64,474 | | | | | | 57,822 | | |
Canadian Malartic(i)
|
| | | | 36,789 | | | | | | 21,549 | | | | | | 91,887 | | | | | | 72,219 | | |
Goldex
|
| | | | 17,258 | | | | | | 6,476 | | | | | | 42,448 | | | | | | 14,936 | | |
Meliadine
|
| | | | 22,037 | | | | | | 23,241 | | | | | | 59,812 | | | | | | 54,031 | | |
Meadowbank
|
| | | | 30,216 | | | | | | 29,101 | | | | | | 71,718 | | | | | | 100,356 | | |
Kittila
|
| | | | 17,853 | | | | | | 10,733 | | | | | | 52,994 | | | | | | 33,026 | | |
Detour Lake
|
| | | | 77,638 | | | | | | 68,680 | | | | | | 189,247 | | | | | | 182,642 | | |
Macassa
|
| | | | 12,651 | | | | | | 13,597 | | | | | | 29,648 | | | | | | 29,141 | | |
Fosterville
|
| | | | 9,509 | | | | | | 10,057 | | | | | | 22,298 | | | | | | 25,324 | | |
Pinos Altos
|
| | | | 7,841 | | | | | | 6,442 | | | | | | 19,852 | | | | | | 23,099 | | |
La India
|
| | | | — | | | | | | 23 | | | | | | 22 | | | | | | 100 | | |
Other
|
| | | | 1,395 | | | | | | — | | | | | | 4,509 | | | | | | 147 | | |
Sustaining capital expenditures
|
| | | $ | 252,962 | | | | | $ | 211,298 | | | | | $ | 648,909 | | | | | $ | 592,843 | | |
LaRonde mine
|
| | | $ | 11,746 | | | | | $ | 10,701 | | | | | $ | 38,954 | | | | | $ | 32,461 | | |
LaRonde Zone 5 mine
|
| | | | 4,696 | | | | | | 7,485 | | | | | | 22,214 | | | | | | 18,832 | | |
LaRonde complex
|
| | | | 16,442 | | | | | | 18,186 | | | | | | 61,168 | | | | | | 51,293 | | |
Canadian Malartic(i)
|
| | | | 43,334 | | | | | | 39,141 | | | | | | 124,730 | | | | | | 119,080 | | |
Goldex
|
| | | | 1,830 | | | | | | 11,504 | | | | | | 8,886 | | | | | | 48,706 | | |
Meliadine
|
| | | | 22,958 | | | | | | 37,736 | | | | | | 66,858 | | | | | | 92,890 | | |
Meadowbank
|
| | | | 7 | | | | | | 47 | | | | | | (20) | | | | | | 357 | | |
Hope Bay
|
| | | | 14,980 | | | | | | 1,099 | | | | | | 22,116 | | | | | | 4,298 | | |
Kittila
|
| | | | 1,946 | | | | | | 5,045 | | | | | | 8,701 | | | | | | 26,287 | | |
Detour Lake
|
| | | | 61,250 | | | | | | 41,568 | | | | | | 147,423 | | | | | | 106,233 | | |
Macassa
|
| | | | 35,071 | | | | | | 23,036 | | | | | | 87,233 | | | | | | 75,109 | | |
Fosterville
|
| | | | 10,933 | | | | | | 13,798 | | | | | | 36,513 | | | | | | 36,202 | | |
Pinos Altos
|
| | | | 365 | | | | | | 594 | | | | | | 1,820 | | | | | | 5,080 | | |
San Nicolás
|
| | | | 3,422 | | | | | | — | | | | | | 15,077 | | | | | | — | | |
Other
|
| | | | 20,295 | | | | | | 3,374 | | | | | | 35,701 | | | | | | 5,829 | | |
Development capital expenditures
|
| | | $ | 232,833 | | | | | $ | 195,128 | | | | | $ | 616,206 | | | | | $ | 571,364 | | |
Total capital expenditures
|
| | | $ | 485,795 | | | | | $ | 406,426 | | | | | $ | 1,265,115 | | | | | $ | 1,164,207 | | |
Working capital adjustments
|
| | | | (21,694) | | | | | | 13,406 | | | | | | (9,329) | | | | | | 64,180 | | |
Additions to property, plant and mine development per the condensed interim consolidated statements of cash flow
|
| | | $ | 464,101 | | | | | $ | 419,832 | | | | | $ | 1,255,786 | | | | | $ | 1,228,387 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
(Restated)(i)
|
| | | | | | | |
(Restated)(i)
|
| ||||||
Net income — key line items: | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenue from operations
|
| | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | $ | 159,294 | | | | | $ | 126,899 | | | | | $ | 435,799 | | | | | $ | 362,984 | | |
LaRonde Zone 5 mine
|
| | | | 47,363 | | | | | | 33,290 | | | | | | 127,392 | | | | | | 99,370 | | |
Canadian Malartic(ii)
|
| | | | 345,969 | | | | | | 320,044 | | | | | | 1,092,558 | | | | | | 793,989 | | |
Goldex
|
| | | | 81,384 | | | | | | 68,467 | | | | | | 237,304 | | | | | | 209,802 | | |
Meliadine
|
| | | | 208,209 | | | | | | 180,344 | | | | | | 630,724 | | | | | | 507,057 | | |
Meadowbank
|
| | | | 315,047 | | | | | | 210,843 | | | | | | 873,047 | | | | | | 616,512 | | |
Kittila
|
| | | | 148,652 | | | | | | 113,729 | | | | | | 395,875 | | | | | | 332,616 | | |
Detour Lake
|
| | | | 437,920 | | | | | | 288,156 | | | | | | 1,140,293 | | | | | | 911,819 | | |
Macassa
|
| | | | 162,334 | | | | | | 85,407 | | | | | | 455,203 | | | | | | 316,145 | | |
Fosterville
|
| | | | 167,368 | | | | | | 116,916 | | | | | | 433,429 | | | | | | 454,291 | | |
Pinos Altos
|
| | | | 68,336 | | | | | | 54,390 | | | | | | 184,526 | | | | | | 156,227 | | |
La India
|
| | | | 13,733 | | | | | | 43,926 | | | | | | 55,903 | | | | | | 109,457 | | |
Revenues from mining operations
|
| | | | 2,155,609 | | | | | | 1,642,411 | | | | | | 6,062,053 | | | | | | 4,870,269 | | |
Production costs
|
| | | | 783,653 | | | | | | 759,411 | | | | | | 2,339,222 | | | | | | 2,155,808 | | |
Total operating margin(iii)
|
| | | | 1,371,956 | | | | | | 883,000 | | | | | | 3,722,831 | | | | | | 2,714,461 | | |
Amortization of property, plant and mine development
|
| | | | 390,245 | | | | | | 421,091 | | | | | | 1,125,859 | | | | | | 1,111,364 | | |
Revaluation gain(iv)
|
| | | | — | | | | | | — | | | | | | — | | | | | | (1,543,414) | | |
Exploration, corporate and other
|
| | | | 141,921 | | | | | | 196,694 | | | | | | 557,928 | | | | | | 474,509 | | |
Income before income and mining taxes
|
| | | | 839,790 | | | | | | 265,215 | | | | | | 2,039,044 | | | | | | 2,672,002 | | |
Income and mining taxes expense
|
| | | | 272,672 | | | | | | 90,412 | | | | | | 652,718 | | | | | | 356,638 | | |
Net income for the period
|
| | | $ | 567,118 | | | | | $ | 174,803 | | | | | $ | 1,386,326 | | | | | $ | 2,315,364 | | |
Net income per share — basic
|
| | | $ | 1.13 | | | | | $ | 0.35 | | | | | $ | 2.78 | | | | | $ | 4.76 | | |
Net income per share — diluted
|
| | | $ | 1.13 | | | | | $ | 0.35 | | | | | $ | 2.77 | | | | | $ | 4.74 | | |
Cash flows: | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash provided by operating activities
|
| | | $ | 1,084,532 | | | | | $ | 502,088 | | | | | $ | 2,829,043 | | | | | $ | 1,873,701 | | |
Cash used in investing activities
|
| | | $ | (537,933) | | | | | $ | (435,666) | | | | | $ | (1,375,557) | | | | | $ | (2,284,613) | | |
Cash (used in) provided by financing activities
|
| | | $ | (493,545) | | | | | $ | (144,239) | | | | | $ | (813,813) | | | | | $ | 109,843 | | |
Realized prices: | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold (per ounce)
|
| | | $ | 2,492 | | | | | $ | 1,928 | | | | | $ | 2,297 | | | | | $ | 1,933 | | |
Silver (per ounce)
|
| | | $ | 30.69 | | | | | $ | 23.55 | | | | | $ | 28.31 | | | | | $ | 23.66 | | |
Zinc (per tonne)
|
| | | $ | 2,822 | | | | | $ | 2,360 | | | | | $ | 2,697 | | | | | $ | 2,746 | | |
Copper (per tonne)
|
| | | $ | 8,254 | | | | | $ | 8,223 | | | | | $ | 9,304 | | | | | $ | 8,740 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
Payable production(v): | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold (ounces): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | | 47,313 | | | | | | 49,303 | | | | | | 161,388 | | | | | | 167,471 | | |
LaRonde Zone 5 mine
|
| | | | 18,292 | | | | | | 15,193 | | | | | | 54,915 | | | | | | 53,412 | | |
Canadian Malartic(ii)
|
| | | | 141,392 | | | | | | 177,243 | | | | | | 509,169 | | | | | | 435,683 | | |
Goldex
|
| | | | 30,334 | | | | | | 35,880 | | | | | | 98,472 | | | | | | 107,619 | | |
Meliadine
|
| | | | 99,838 | | | | | | 89,707 | | | | | | 284,238 | | | | | | 267,856 | | |
Meadowbank
|
| | | | 133,502 | | | | | | 116,555 | | | | | | 387,695 | | | | | | 322,440 | | |
Kittila
|
| | | | 56,715 | | | | | | 59,408 | | | | | | 166,967 | | | | | | 173,230 | | |
Detour Lake
|
| | | | 173,891 | | | | | | 152,762 | | | | | | 492,889 | | | | | | 483,971 | | |
Macassa
|
| | | | 70,727 | | | | | | 46,792 | | | | | | 203,048 | | | | | | 167,951 | | |
Fosterville
|
| | | | 65,532 | | | | | | 59,790 | | | | | | 188,064 | | | | | | 228,161 | | |
Pinos Altos
|
| | | | 21,371 | | | | | | 25,386 | | | | | | 69,850 | | | | | | 71,679 | | |
Creston Mascota
|
| | | | 9 | | | | | | 141 | | | | | | 50 | | | | | | 550 | | |
La India
|
| | | | 4,529 | | | | | | 22,269 | | | | | | 21,190 | | | | | | 56,423 | | |
Total gold (ounces)
|
| | | | 863,445 | | | | | | 850,429 | | | | | | 2,637,935 | | | | | | 2,536,446 | | |
Silver (thousands of ounces)
|
| | | | 602 | | | | | | 589 | | | | | | 1,845 | | | | | | 1,753 | | |
Zinc (tonnes)
|
| | | | 914 | | | | | | 1,420 | | | | | | 4,479 | | | | | | 6,318 | | |
Copper (tonnes)
|
| | | | 797 | | | | | | 659 | | | | | | 2,673 | | | | | | 1,935 | | |
Payable metal sold(vi): | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold (ounces): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | | 58,357 | | | | | | 62,413 | | | | | | 175,086 | | | | | | 172,495 | | |
LaRonde Zone 5 mine
|
| | | | 18,920 | | | | | | 17,748 | | | | | | 55,436 | | | | | | 52,132 | | |
Canadian Malartic(ii)
|
| | | | 139,694 | | | | | | 164,974 | | | | | | 475,893 | | | | | | 405,040 | | |
Goldex
|
| | | | 31,671 | | | | | | 35,517 | | | | | | 99,896 | | | | | | 108,548 | | |
Meliadine
|
| | | | 83,900 | | | | | | 93,426 | | | | | | 276,878 | | | | | | 262,165 | | |
Meadowbank
|
| | | | 126,010 | | | | | | 108,579 | | | | | | 378,123 | | | | | | 317,584 | | |
Kittila
|
| | | | 59,464 | | | | | | 58,540 | | | | | | 171,448 | | | | | | 171,060 | | |
Detour Lake
|
| | | | 176,585 | | | | | | 149,747 | | | | | | 497,215 | | | | | | 473,322 | | |
Macassa
|
| | | | 65,000 | | | | | | 44,400 | | | | | | 197,840 | | | | | | 164,430 | | |
Fosterville
|
| | | | 67,198 | | | | | | 60,750 | | | | | | 187,247 | | | | | | 235,250 | | |
Pinos Altos
|
| | | | 23,700 | | | | | | 24,543 | | | | | | 69,510 | | | | | | 71,134 | | |
La India
|
| | | | 5,400 | | | | | | 22,460 | | | | | | 24,620 | | | | | | 56,343 | | |
Total gold (ounces)
|
| | | | 855,899 | | | | | | 843,097 | | | | | | 2,609,192 | | | | | | 2,489,503 | | |
Silver (thousands of ounces)
|
| | | | 573 | | | | | | 571 | | | | | | 1,814 | | | | | | 1,720 | | |
Zinc (tonnes)
|
| | | | 1,748 | | | | | | 2,108 | | | | | | 4,802 | | | | | | 6,982 | | |
Copper (tonnes)
|
| | | | 806 | | | | | | 657 | | | | | | 2,681 | | | | | | 1,938 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
Total cash costs per ounce — co-product basis(vii): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | $ | 1,291 | | | | | $ | 1,111 | | | | | $ | 1,180 | | | | | $ | 1,097 | | |
LaRonde Zone 5 mine
|
| | | | 1,300 | | | | | | 1,297 | | | | | | 1,174 | | | | | | 1,220 | | |
Canadian Malartic(ii)
|
| | | | 1,037 | | | | | | 814 | | | | | | 918 | | | | | | 800 | | |
Goldex
|
| | | | 1,121 | | | | | | 822 | | | | | | 1,040 | | | | | | 802 | | |
Meliadine
|
| | | | 890 | | | | | | 972 | | | | | | 910 | | | | | | 977 | | |
Meadowbank
|
| | | | 918 | | | | | | 1,229 | | | | | | 930 | | | | | | 1,180 | | |
Kittila
|
| | | | 1,011 | | | | | | 931 | | | | | | 1,034 | | | | | | 877 | | |
Detour Lake
|
| | | | 784 | | | | | | 757 | | | | | | 815 | | | | | | 755 | | |
Macassa
|
| | | | 757 | | | | | | 843 | | | | | | 766 | | | | | | 722 | | |
Fosterville
|
| | | | 653 | | | | | | 497 | | | | | | 604 | | | | | | 438 | | |
Pinos Altos
|
| | | | 2,023 | | | | | | 1,606 | | | | | | 1,807 | | | | | | 1,512 | | |
La India
|
| | | | 2,901 | | | | | | 1,174 | | | | | | 2,009 | | | | | | 1,292 | | |
Cash costs per ounce — co-product basis
|
| | | $ | 953 | | | | | $ | 924 | | | | | $ | 930 | | | | | $ | 885 | | |
Total cash costs per ounce — by-product basis(vii): | | | | | | | | | | | | | | | | | | | | | | | | | |
LaRonde mine
|
| | | $ | 1,078 | | | | | $ | 875 | | | | | $ | 934 | | | | | $ | 850 | | |
LaRonde Zone 5 mine
|
| | | | 1,285 | | | | | | 1,287 | | | | | | 1,160 | | | | | | 1,207 | | |
Canadian Malartic(ii)
|
| | | | 1,025 | | | | | | 805 | | | | | | 906 | | | | | | 789 | | |
Goldex
|
| | | | 1,031 | | | | | | 822 | | | | | | 945 | | | | | | 802 | | |
Meliadine
|
| | | | 889 | | | | | | 971 | | | | | | 908 | | | | | | 975 | | |
Meadowbank
|
| | | | 910 | | | | | | 1,225 | | | | | | 923 | | | | | | 1,173 | | |
Kittila
|
| | | | 1,010 | | | | | | 930 | | | | | | 1,033 | | | | | | 875 | | |
Detour Lake
|
| | | | 779 | | | | | | 755 | | | | | | 812 | | | | | | 752 | | |
Macassa
|
| | | | 750 | | | | | | 841 | | | | | | 763 | | | | | | 719 | | |
Fosterville
|
| | | | 651 | | | | | | 495 | | | | | | 602 | | | | | | 437 | | |
Pinos Altos
|
| | | | 1,531 | | | | | | 1,310 | | | | | | 1,426 | | | | | | 1,236 | | |
La India
|
| | | | 2,872 | | | | | | 1,156 | | | | | | 1,963 | | | | | | 1,272 | | |
Cash costs per ounce — by-product basis
|
| | | $ | 921 | | | | | $ | 898 | | | | | $ | 897 | | | | | $ | 857 | | |
| | |
Three Months Ended(i)
|
| |||||||||||||||||||||||||||||||||||||||||||||
| | |
December 31,
2022 |
| |
March 31,
2023 |
| |
June 30,
2023(ii) |
| |
September 30,
2023(ii) |
| |
December 31,
2023(ii) |
| |
March 31,
2024 |
| |
June 30,
2024 |
| |
September 30,
2024 |
| ||||||||||||||||||||||||
Operating margin(iii): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues from mining operations
|
| | | $ | 1,384,719 | | | | | $ | 1,509,661 | | | | | $ | 1,718,197 | | | | | $ | 1,642,411 | | | | | $ | 1,756,640 | | | | | $ | 1,829,823 | | | | | $ | 2,076,621 | | | | | $ | 2,155,609 | | |
Production costs
|
| | | | 666,877 | | | | | | 653,144 | | | | | | 743,253 | | | | | | 759,411 | | | | | | 777,455 | | | | | | 783,585 | | | | | | 771,984 | | | | | | 783,653 | | |
Total operating
margin(iii) |
| | | | 717,842 | | | | | | 856,517 | | | | | | 974,944 | | | | | | 883,000 | | | | | | 979,185 | | | | | | 1,046,238 | | | | | | 1,304,637 | | | | | | 1,371,956 | | |
Impairment loss
|
| | | | 55,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 787,000 | | | | | | — | | | | | | — | | | | | | — | | |
Amortization of property,
plant and mine development |
| | | | 285,670 | | | | | | 303,959 | | | | | | 386,314 | | | | | | 421,090 | | | | | | 380,407 | | | | | | 357,225 | | | | | | 378,389 | | | | | | 390,245 | | |
Revaluation gain
|
| | | | — | | | | | | (1,543,414) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Exploration, corporate and
other |
| | | | 114,260 | | | | | | 150,473 | | | | | | 127,342 | | | | | | 196,694 | | | | | | 124,711 | | | | | | 199,965 | | | | | | 216,042 | | | | | | 141,921 | | |
Income (loss) before income and mining
taxes |
| | | | 262,912 | | | | | | 1,945,499 | | | | | | 461,288 | | | | | | 265,216 | | | | | | (312,933) | | | | | | 489,048 | | | | | | 710,206 | | | | | | 839,790 | | |
Income and mining taxes expense
|
| | | | 68,806 | | | | | | 128,608 | | | | | | 137,618 | | | | | | 90,412 | | | | | | 61,124 | | | | | | 141,856 | | | | | | 238,190 | | | | | | 272,672 | | |
Net income (loss) for the period
|
| | | $ | 194,106 | | | | | $ | 1,816,891 | | | | | $ | 323,670 | | | | | $ | 174,804 | | | | | $ | (374,057) | | | | | $ | 347,192 | | | | | $ | 472,016 | | | | | $ | 567,118 | | |
Net income (loss) per share — basic
|
| | | $ | 0.43 | | | | | $ | 3.87 | | | | | $ | 0.66 | | | | | $ | 0.35 | | | | | $ | (0.75) | | | | | $ | 0.70 | | | | | $ | 0.95 | | | | | $ | 1.13 | | |
Net income (loss) per share — diluted
|
| | | $ | 0.43 | | | | | $ | 3.86 | | | | | $ | 0.65 | | | | | $ | 0.35 | | | | | $ | (0.75) | | | | | $ | 0.70 | | | | | $ | 0.94 | | | | | $ | 1.13 | | |
Cash flows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash provided by operating activities
|
| | | $ | 380,500 | | | | | $ | 649,613 | | | | | $ | 722,000 | | | | | $ | 502,088 | | | | | $ | 727,861 | | | | | $ | 783,175 | | | | | $ | 961,336 | | | | | $ | 1,084,532 | | |
| | |
As at
September 30, 2024 |
| |
As at
December 31, 2023 |
| ||||||
ASSETS | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | |
$
|
977,215
|
| | | | $ | 338,648 | | |
Inventories
|
| | |
|
1,533,064
|
| | | | | 1,418,941 | | |
Income taxes recoverable
|
| | |
|
19,707
|
| | | | | 27,602 | | |
Fair value of derivative financial instruments (Notes 6 and 15)
|
| | |
|
15,742
|
| | | | | 50,786 | | |
Other current assets (Note 7A)
|
| | |
|
361,975
|
| | | | | 355,175 | | |
Total current assets
|
| | |
|
2,907,703
|
| | | | | 2,191,152 | | |
Non-current assets: | | | | | | | | | | | | | |
Goodwill
|
| | |
|
4,157,672
|
| | | | | 4,157,672 | | |
Property, plant and mine development (Note 8)
|
| | |
|
21,389,861
|
| | | | | 21,221,905 | | |
Investments (Notes 6, 9 and 15)
|
| | |
|
512,571
|
| | | | | 345,257 | | |
Deferred income and mining tax asset
|
| | |
|
18,573
|
| | | | | 53,796 | | |
Other assets (Note 7B)
|
| | |
|
830,109
|
| | | | | 715,167 | | |
Total assets
|
| | |
$
|
29,816,489
|
| | | | $ | 28,684,949 | | |
LIABILITIES | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | |
Accounts payable and accrued liabilities
|
| | |
$
|
882,039
|
| | | | $ | 750,380 | | |
Share based liabilities
|
| | |
|
20,936
|
| | | | | 24,316 | | |
Interest payable
|
| | |
|
18,505
|
| | | | | 14,226 | | |
Income taxes payable
|
| | |
|
220,707
|
| | | | | 81,222 | | |
Current portion of long-term debt (Note 10)
|
| | |
|
415,000
|
| | | | | 100,000 | | |
Reclamation provision
|
| | |
|
49,721
|
| | | | | 24,266 | | |
Lease obligations
|
| | |
|
46,347
|
| | | | | 46,394 | | |
Fair value of derivative financial instruments (Notes 6 and 15)
|
| | |
|
10,542
|
| | | | | 7,222 | | |
Total current liabilities
|
| | |
|
1,663,797
|
| | | | | 1,048,026 | | |
Non-current liabilities: | | | | | | | | | | | | | |
Long-term debt (Note 10)
|
| | |
|
1,052,233
|
| | | | | 1,743,086 | | |
Reclamation provision
|
| | |
|
1,116,295
|
| | | | | 1,049,238 | | |
Lease obligations
|
| | |
|
101,833
|
| | | | | 115,154 | | |
Share based liabilities
|
| | |
|
10,686
|
| | | | | 11,153 | | |
Deferred income and mining tax liabilities
|
| | |
|
5,095,753
|
| | | | | 4,973,271 | | |
Other liabilities
|
| | |
|
270,921
|
| | | | | 322,106 | | |
Total liabilities
|
| | |
|
9,311,518
|
| | | | | 9,262,034 | | |
EQUITY | | | | | | | | | | | | | |
Common shares (Note 11):
|
| | | | | | | | | | | | |
Outstanding — 501,907,461 common shares issued, less 390,389 shares held in trust
|
| | |
|
18,663,351
|
| | | | | 18,334,869 | | |
Stock options (Notes 11 and 12)
|
| | |
|
174,657
|
| | | | | 201,755 | | |
Contributed surplus
|
| | |
|
—
|
| | | | | 22,074 | | |
Retained earnings
|
| | |
|
1,727,379
|
| | | | | 963,172 | | |
Other reserves (Note 13)
|
| | |
|
(60,416)
|
| | | | | (98,955) | | |
Total equity
|
| | |
|
20,504,971
|
| | | | | 19,422,915 | | |
Total liabilities and equity
|
| | |
$
|
29,816,489
|
| | | | $ | 28,684,949 | | |
Commitments and contingencies (Note 18) | | | | | | | | | | | | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
REVENUES | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues from mining operations (Note 14)
|
| | |
$
|
2,155,609
|
| | | | $ | 1,642,411 | | | | |
$
|
6,062,053
|
| | | | $ | 4,870,269 | | |
COSTS, INCOME AND EXPENSES | | | | | | | | | | | | | | | | | | | | | | | | | |
Production(i) | | | |
|
783,653
|
| | | | | 759,411 | | | | |
|
2,339,222
|
| | | | | 2,155,808 | | |
Exploration and corporate development
|
| | |
|
60,335
|
| | | | | 61,594 | | | | |
|
166,788
|
| | | | | 169,784 | | |
Amortization of property, plant and mine development
|
| | |
|
390,245
|
| | | | | 421,091 | | | | |
|
1,125,859
|
| | | | | 1,111,364 | | |
General and administrative
|
| | |
|
48,500
|
| | | | | 38,930 | | | | |
|
145,436
|
| | | | | 134,450 | | |
Finance costs
|
| | |
|
28,527
|
| | | | | 35,704 | | | | |
|
99,265
|
| | | | | 94,989 | | |
(Gain) loss on derivative financial instruments (Note 15)
|
| | |
|
(17,153)
|
| | | | | 34,010 | | | | |
|
48,390
|
| | | | | 1,038 | | |
Foreign currency translation loss (gain)
|
| | |
|
3,436
|
| | | | | (6,492) | | | | |
|
(748)
|
| | | | | (2,258) | | |
Care and maintenance
|
| | |
|
13,810
|
| | | | | 12,361 | | | | |
|
35,078
|
| | | | | 33,017 | | |
Revaluation gain (Note 5)
|
| | |
|
—
|
| | | | | — | | | | |
|
—
|
| | | | | (1,543,414) | | |
Other expenses (Note 16)
|
| | |
|
4,466
|
| | | | | 20,587 | | | | |
|
63,719
|
| | | | | 43,489 | | |
Income before income and mining taxes
|
| | |
|
839,790
|
| | | | | 265,215 | | | | |
|
2,039,044
|
| | | | | 2,672,002 | | |
Income and mining taxes expense
|
| | |
|
272,672
|
| | | | | 90,412 | | | | |
|
652,718
|
| | | | | 356,638 | | |
Net income for the period
|
| | |
$
|
567,118
|
| | | | $ | 174,803 | | | | |
$
|
1,386,326
|
| | | | $ | 2,315,364 | | |
Net income per share — basic (Note 11)
|
| | |
$
|
1.13
|
| | | | $ | 0.35 | | | | |
$
|
2.78
|
| | | | $ | 4.76 | | |
Net income per share — diluted (Note 11)
|
| | |
$
|
1.13
|
| | | | $ | 0.35 | | | | |
$
|
2.77
|
| | | | $ | 4.74 | | |
Cash dividends declared per common share
|
| | |
$
|
0.40
|
| | | | $ | 0.40 | | | | |
$
|
1.20
|
| | | | $ | 1.20 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
Net income for the period
|
| | |
$
|
567,118
|
| | | | $ | 174,803 | | | | |
$
|
1,386,326
|
| | | | $ | 2,315,364 | | |
Other comprehensive income: | | | | | | | | | | | | | | | | | | | | | | | | | |
Items that may be subsequently reclassified to net income:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Derivative financial instruments:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Reclassified from the cash flow hedge reserve to net
income |
| | |
|
294
|
| | | | | 294 | | | | |
|
882
|
| | | | | 882 | | |
| | | |
|
294
|
| | | | | 294 | | | | |
|
882
|
| | | | | 882 | | |
Items that will not be subsequently reclassified to net income:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Pension benefit obligations:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Remeasurement loss on pension benefit obligations
|
| | |
|
(161)
|
| | | | | (216) | | | | |
|
(481)
|
| | | | | (651) | | |
Income tax impact
|
| | |
|
42
|
| | | | | 55 | | | | |
|
124
|
| | | | | 167 | | |
Equity securities:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Net change in fair value of equity securities
|
| | |
|
39,396
|
| | | | | (57,530) | | | | |
|
43,229
|
| | | | | (84,183) | | |
Income tax impact
|
| | |
|
(5,260)
|
| | | | | — | | | | |
|
(5,260)
|
| | | | | — | | |
| | | |
|
34,017
|
| | | | | (57,691) | | | | |
|
37,612
|
| | | | | (84,667) | | |
Other comprehensive income (loss) for the period
|
| | |
|
34,311
|
| | | | | (57,397) | | | | |
|
38,494
|
| | | | | (83,785) | | |
Comprehensive income for the period
|
| | |
$
|
601,429
|
| | | | $ | 117,406 | | | | |
$
|
1,424,820
|
| | | | $ | 2,231,579 | | |
| | |
Common Shares
Outstanding |
| |
Stock
Options |
| |
Contributed
Surplus |
| |
Retained
Earnings (Deficit) |
| |
Other
Reserves |
| |
Total
Equity |
| ||||||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2022
|
| | | | 456,465,296 | | | | | $ | 16,251,221 | | | | | $ | 197,430 | | | | | $ | 23,280 | | | | | $ | (201,580) | | | | | $ | (29,006) | | | | | $ | 16,241,345 | | |
Net income (Restated) (Note 5)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,315,364 | | | | | | — | | | | | | 2,315,364 | | |
Other comprehensive loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (484) | | | | | | (83,301) | | | | | | (83,785) | | |
Total comprehensive income (loss) (Restated)
(Note 5) |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,314,880 | | | | | | (83,301) | | | | | | 2,231,579 | | |
Transfer of loss on disposal of equity securities to retained earnings
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (2,045) | | | | | | 2,045 | | | | | | — | | |
Transactions with owners: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Shares issued under employee stock option
plan (Notes 11 and 12) |
| | | | 530,926 | | | | | | 27,971 | | | | | | (4,448) | | | | | | — | | | | | | — | | | | | | — | | | | | | 23,523 | | |
Shares issued pursuant to Yamana Transaction (Note 5)
|
| | | | 36,177,931 | | | | | | 1,858,219 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,858,219 | | |
Stock options (Notes 11 and 12)
|
| | | | — | | | | | | — | | | | | | 9,709 | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,709 | | |
Shares issued under incentive share purchase plan
|
| | | | 672,590 | | | | | | 32,976 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 32,976 | | |
Shares issued under dividend reinvestment
plan |
| | | | 2,082,052 | | | | | | 96,502 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 96,502 | | |
Normal Course Issuer Bid (“NCIB”) (Note 11)
|
| | | | (100,000) | | | | | | (3,569) | | | | | | — | | | | | | (1,206) | | | | | | — | | | | | | — | | | | | | (4,775) | | |
Dividends declared ($1.20 per
share) |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (579,144) | | | | | | — | | | | | | (579,144) | | |
Restricted Share Unit plan (“RSU”),
Performance Share Unit plan (“PSU”) and Long Term Incentive Plan (“LTIP”) (Notes 11 and 12) |
| | | | 234,729 | | | | | | 16,378 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,378 | | |
Balance at September 30, 2023
|
| | | | 496,063,524 | | | | | $ | 18,279,698 | | | | | $ | 202,691 | | | | | $ | 22,074 | | | | | $ | 1,532,111 | | | | | $ | (110,262) | | | | | $ | 19,926,312 | | |
Balance at December 31, 2023
|
| | | | 497,299,441 | | | | | $ | 18,334,869 | | | | | $ | 201,755 | | | | | $ | 22,074 | | | | | $ | 963,172 | | | | | $ | (98,955) | | | | | $ | 19,422,915 | | |
Net income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,386,326 | | | | | | — | | | | | | 1,386,326 | | |
Other comprehensive (loss) income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (357) | | | | | | 38,851 | | | | | | 38,494 | | |
Total comprehensive income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,385,969 | | | | | | 38,851 | | | | | | 1,424,820 | | |
Transfer of gain on disposal of equity securities to retained earnings
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 312 | | | | | | (312) | | | | | | — | | |
Transactions with owners: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Shares issued under employee stock option
plan (Notes 11 and 12) |
| | | | 3,077,468 | | | | | | 214,143 | | | | | | (35,408) | | | | | | — | | | | | | — | | | | | | — | | | | | | 178,735 | | |
Stock options (Notes 11 and 12)
|
| | | | — | | | | | | — | | | | | | 8,310 | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,310 | | |
Shares issued under incentive share purchase plan
|
| | | | 630,628 | | | | | | 42,099 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 42,099 | | |
Shares issued under dividend reinvestment
plan |
| | | | 1,730,118 | | | | | | 102,081 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 102,081 | | |
Normal Course Issuer Bid (“NCIB”) (Note 11)
|
| | | | (1,500,386) | | | | | | (55,628) | | | | | | — | | | | | | (22,074) | | | | | | (22,193) | | | | | | — | | | | | | (99,895) | | |
Dividends declared ($1.20 per share)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (599,881) | | | | | | — | | | | | | (599,881) | | |
Restricted Share Unit plan (“RSU”),
Performance Share Unit plan (“PSU”) and Long Term Incentive Plan (“LTIP”) (Notes 11 and 12) |
| | | | 279,803 | | | | | | 25,787 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 25,787 | | |
Balance at September 30, 2024
|
| | | | 501,517,072 | | | | | $ | 18,663,351 | | | | | $ | 174,657 | | | | | $ | — | | | | | $ | 1,727,379 | | | | | $ | (60,416) | | | | | $ | 20,504,971 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income for the period
|
| | |
$
|
567,118
|
| | | | $ | 174,803 | | | | |
$
|
1,386,326
|
| | | | $ | 2,315,364 | | |
Add (deduct) adjusting items: | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of property, plant and mine development
|
| | |
|
390,245
|
| | | | | 421,091 | | | | |
|
1,125,859
|
| | | | | 1,111,364 | | |
Deferred income and mining taxes
|
| | |
|
58,641
|
| | | | | 25,123 | | | | |
|
152,788
|
| | | | | 66,794 | | |
Unrealized (gain) loss on currency and commodity derivatives (Note 15)
|
| | |
|
(24,169)
|
| | | | | 31,088 | | | | |
|
38,363
|
| | | | | (34,888) | | |
Unrealized (gain) loss on warrants (Note 15)
|
| | |
|
(53)
|
| | | | | 6,802 | | | | |
|
(3,903)
|
| | | | | 9,098 | | |
Stock-based compensation (Note 12)
|
| | |
|
21,242
|
| | | | | 11,939 | | | | |
|
58,957
|
| | | | | 38,466 | | |
Foreign currency translation loss (gain)
|
| | |
|
3,436
|
| | | | | (6,492) | | | | |
|
(748)
|
| | | | | (2,258) | | |
Revaluation gain (Note 5)
|
| | |
|
—
|
| | | | | — | | | | |
|
—
|
| | | | | (1,543,414) | | |
Other
|
| | |
|
11,010
|
| | | | | 4,302 | | | | |
|
33,144
|
| | | | | 9,953 | | |
Changes in non-cash working capital balances: | | | | | | | | | | | | | | | | | | | | | | | | | |
Income taxes
|
| | |
|
95,930
|
| | | | | (7,425) | | | | |
|
142,732
|
| | | | | 81,980 | | |
Inventories
|
| | |
|
(156,871)
|
| | | | | (118,251) | | | | |
|
(165,727)
|
| | | | | (144,998) | | |
Other current assets
|
| | |
|
41,263
|
| | | | | (3,527) | | | | |
|
(16,237)
|
| | | | | (86,947) | | |
Accounts payable and accrued liabilities
|
| | |
|
80,704
|
| | | | | (49,432) | | | | |
|
74,622
|
| | | | | 51,427 | | |
Interest payable
|
| | |
|
(3,964)
|
| | | | | 12,067 | | | | |
|
2,867
|
| | | | | 1,760 | | |
Cash provided by operating activities
|
| | |
|
1,084,532
|
| | | | | 502,088 | | | | |
|
2,829,043
|
| | | | | 1,873,701 | | |
INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Additions to property, plant and mine development (Note 8)
|
| | |
|
(464,101)
|
| | | | | (419,832) | | | | |
|
(1,255,786)
|
| | | | | (1,228,387) | | |
Yamana Transaction, net of cash and cash equivalents (Note 5)
|
| | |
|
—
|
| | | | | — | | | | | | — | | | | | | (1,000,617) | | |
Contributions for acquisition of mineral assets
|
| | |
|
(4,197)
|
| | | | | (10,950) | | | | |
|
(11,296)
|
| | | | | (10,950) | | |
Purchases of equity securities and other investments
|
| | |
|
(73,341)
|
| | | | | (7,962) | | | | |
|
(114,644)
|
| | | | | (52,126) | | |
Other investing activities
|
| | |
|
3,706
|
| | | | | 3,078 | | | | |
|
6,169
|
| | | | | 7,467 | | |
Cash used in investing activities
|
| | |
|
(537,933)
|
| | | | | (435,666) | | | | |
|
(1,375,557)
|
| | | | | (2,284,613) | | |
FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from Credit Facility (Note 10)
|
| | |
|
—
|
| | | | | 100,000 | | | | |
|
600,000
|
| | | | | 1,100,000 | | |
Repayment of Credit Facility (Note 10)
|
| | |
|
—
|
| | | | | (100,000) | | | | |
|
(600,000)
|
| | | | | (1,000,000) | | |
Proceeds from Term Loan Facility, net of financing costs (Note 10)
|
| | |
|
—
|
| | | | | — | | | | |
|
—
|
| | | | | 598,958 | | |
Repayment of Term Loan Facility (Note 10)
|
| | |
|
(275,000)
|
| | | | | — | | | | |
|
(275,000)
|
| | | | | — | | |
Repayment of Senior Notes (Note 10)
|
| | |
|
(100,000)
|
| | | | | — | | | | |
|
(100,000)
|
| | | | | (100,000) | | |
Long-term debt financing costs (Note 10)
|
| | |
|
—
|
| | | | | — | | | | |
|
(3,544)
|
| | | | | — | | |
Repayment of lease obligations
|
| | |
|
(12,461)
|
| | | | | (13,465) | | | | |
|
(38,142)
|
| | | | | (35,633) | | |
Disbursements to associates
|
| | |
|
—
|
| | | | | 21,899 | | | | |
|
—
|
| | | | | — | | |
Dividends paid
|
| | |
|
(176,314)
|
| | | | | (161,259) | | | | |
|
(497,829)
|
| | | | | (482,680) | | |
Repurchase of common shares (Notes 11 and 12)
|
| | |
|
(30,080)
|
| | | | | — | | | | |
|
(106,121)
|
| | | | | (16,350) | | |
Proceeds on exercise of stock options (Note 12)
|
| | |
|
90,923
|
| | | | | 471 | | | | |
|
178,735
|
| | | | | 23,523 | | |
Common shares issued
|
| | |
|
9,387
|
| | | | | 8,115 | | | | |
|
28,088
|
| | | | | 22,025 | | |
Cash (used in) provided by financing activities
|
| | |
|
(493,545)
|
| | | | | (144,239) | | | | |
|
(813,813)
|
| | | | | 109,843 | | |
Effect of exchange rate changes on cash and cash equivalents
|
| | |
|
2,172
|
| | | | | 782 | | | | |
|
(1,106)
|
| | | | | (2,065) | | |
Net increase (decrease) in cash and cash equivalents during the period
|
| | |
|
55,226
|
| | | | | (77,035) | | | | |
|
638,567
|
| | | | | (303,134) | | |
Cash and cash equivalents, beginning of period
|
| | |
|
921,989
|
| | | | | 432,526 | | | | |
|
338,648
|
| | | | | 658,625 | | |
Cash and cash equivalents, end of period
|
| | |
$
|
977,215
|
| | | | $ | 355,491 | | | | |
$
|
977,215
|
| | | | $ | 355,491 | | |
SUPPLEMENTAL CASH FLOW INFORMATION | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest paid
|
| | |
$
|
26,870
|
| | | | $ | 16,621 | | | | |
$
|
76,773
|
| | | | $ | 73,109 | | |
Income and mining taxes paid
|
| | |
$
|
119,178
|
| | | | $ | 67,904 | | | | |
$
|
377,555
|
| | | | $ | 207,669 | | |
|
Fair value of common shares issued
|
| | | $ | 1,858,219 | | |
|
Cash
|
| | | | 1,001,291 | | |
|
Fair value of previously held 50% interest
|
| | | | 2,697,604 | | |
| | | | | $ | 5,557,114 | | |
| | |
Preliminary(i)
|
| |
Adjustments
|
| |
Final
|
| |||||||||
Cash and cash equivalents
|
| | | $ | 1,049 | | | | | $ | — | | | | | $ | 1,049 | | |
Inventories
|
| | | | 165,423 | | | | | | — | | | | | | 165,423 | | |
Other current assets
|
| | | | 29,890 | | | | | | — | | | | | | 29,890 | | |
Property, plant and mine development
|
| | | | 4,949,392 | | | | | | (1,183,876) | | | | | | 3,765,516 | | |
Goodwill
|
| | | | 2,078,562 | | | | | | 803,666 | | | | | | 2,882,228 | | |
Other assets
|
| | | | 330,215 | | | | | | (96,940) | | | | | | 233,275 | | |
Accounts payable and accrued and other liabilities
|
| | | | (117,905) | | | | | | — | | | | | | (117,905) | | |
Reclamation provision
|
| | | | (203,341) | | | | | | (4,950) | | | | | | (208,291) | | |
Deferred income and mining tax liabilities
|
| | | | (1,646,500) | | | | | | 482,100 | | | | | | (1,164,400) | | |
Other liabilities
|
| | | | (29,671) | | | | | | — | | | | | | (29,671) | | |
Total assets acquired, net of liabilities assumed
|
| | | $ | 5,557,114 | | | | | $ | — | | | | | $ | 5,557,114 | | |
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Financial assets: | | | | | | | | | | | | | | | | | | | | | | | | | |
Trade receivables (Note 7A)
|
| | | $ | — | | | | | $ | 11,926 | | | | | $ | — | | | | | $ | 11,926 | | |
Equity securities (FVOCI) (Note 9)
|
| | | | 450,326 | | | | | | 34,580 | | | | | | — | | | | | | 484,906 | | |
Share purchase warrants (FVPL) (Note 9)
|
| | | | — | | | | | | 27,665 | | | | | | — | | | | | | 27,665 | | |
Fair value of derivative financial instruments (Note 15)
|
| | | | — | | | | | | 15,742 | | | | | | — | | | | | | 15,742 | | |
Total financial assets
|
| | | $ | 450,326 | | | | | $ | 89,913 | | | | | $ | — | | | | | $ | 540,239 | | |
Financial liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | |
Fair value of derivative financial instruments (Note 15)
|
| | | | — | | | | | | 10,542 | | | | | | — | | | | | | 10,542 | | |
Total financial liabilities
|
| | | $ | — | | | | | $ | 10,542 | | | | | $ | — | | | | | $ | 10,542 | | |
| | |
As at September 30,
2024 |
| |
As at December 31,
2023 |
| ||||||
Federal, provincial and other sales taxes receivable
|
| | | $ | 132,419 | | | | | $ | 149,153 | | |
Prepaid expenses
|
| | | | 171,097 | | | | | | 151,741 | | |
Short term investments
|
| | | | 5,892 | | | | | | 10,199 | | |
Trade receivables
|
| | | | 11,926 | | | | | | 8,148 | | |
Other
|
| | | | 40,641 | | | | | | 35,934 | | |
Total other current assets
|
| | | $ | 361,975 | | | | | $ | 355,175 | | |
| | |
As at September 30,
2024 |
| |
As at December 31,
2023 |
| ||||||
Non-current ore in stockpiles and on leach pads
|
| | | $ | 732,033 | | | | | $ | 632,049 | | |
Non-current prepaid expenses
|
| | | | 59,896 | | | | | | 53,191 | | |
Non-current loans receivable
|
| | | | 9,954 | | | | | | 10,108 | | |
Investment in associate
|
| | | | 11,205 | | | | | | 10,865 | | |
Other
|
| | | | 17,021 | | | | | | 8,954 | | |
Total other assets
|
| | | $ | 830,109 | | | | | $ | 715,167 | | |
| | |
As at September 30,
2024 |
| |
As at December 31,
2023 |
| ||||||
Equity securities
|
| | | $ | 484,906 | | | | | $ | 323,711 | | |
Share purchase warrants
|
| | | | 27,665 | | | | | | 21,546 | | |
Total investments
|
| | | $ | 512,571 | | | | | $ | 345,257 | | |
| | | | | |
As at September 30,
2024 |
| |
As at December 31,
2023 |
| ||||||||||||||||||||||||||||||
| | |
Interest Rates
|
| |
Principal
Amount |
| |
Deferred
Financing Costs |
| |
Carrying
Amount |
| |
Fair Value
|
| |
Carrying
Amount |
| |
Fair Value
|
| ||||||||||||||||||
Senior Notes
|
| |
2.78% – 4.94%
|
| | | $ | 1,150,000 | | | | | $ | (3,305) | | | | | $ | 1,146,695 | | | | | $ | 1,127,286 | | | | | $ | 1,246,076 | | | | | $ | 1,200,848 | | |
Old Credit Facility
|
| |
Variable
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (2,323) | | | | | | (2,323) | | |
New Credit Facility
|
| |
Variable
|
| | | | — | | | | | | (4,170) | | | | | | (4,170) | | | | | | (4,170) | | | | | | — | | | | | | — | | |
Term Loan Facility
|
| |
Variable
|
| | | | 325,000 | | | | | | (292) | | | | | | 324,708 | | | | | | 324,708 | | | | | | 599,333 | | | | | | 599,333 | | |
Total long-term debt
|
| | | | | | $ | 1,475,000 | | | | | $ | (7,767) | | | | | $ | 1,467,233 | | | | | $ | 1,447,824 | | | | | $ | 1,843,086 | | | | | $ | 1,797,858 | | |
| | |
As at September 30,
2024 |
| |
As at December 31,
2023 |
| ||||||
Current portion of long-term debt
|
| | | $ | 415,000 | | | | | $ | 100,000 | | |
Non-current portion of long-term debt
|
| | | | 1,052,233 | | | | | | 1,743,086 | | |
Total long-term debt
|
| | | $ | 1,467,233 | | | | | $ | 1,843,086 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
| | | | | | | | |
Restated
(Note 5) |
| | | | | | | |
Restated
(Note 5) |
| ||||||
Net income for the period — basic
|
| | | $ | 567,118 | | | | | $ | 174,803 | | | | | $ | 1,386,326 | | | | | $ | 2,315,364 | | |
Add: Dilutive impact of cash settling LTIP
|
| | | | — | | | | | | (1,915) | | | | | | — | | | | | | (4,831) | | |
Net income for the period — diluted
|
| | | | 567,118 | | | | | | 172,888 | | | | | | 1,386,326 | | | | | | 2,310,533 | | |
Weighted average number of common shares outstanding — basic (in thousands)
|
| | | | 500,974 | | | | | | 495,286 | | | | | | 499,343 | | | | | | 486,131 | | |
Add: Dilutive impact of common shares related to the RSU plan, PSU plan and LTIP
|
| | | | 459 | | | | | | 1,050 | | | | | | 573 | | | | | | 1,203 | | |
Add: Dilutive impact of employee stock options
|
| | | | 673 | | | | | | 68 | | | | | | 280 | | | | | | 108 | | |
Weighted average number of common shares outstanding — diluted (in thousands)
|
| | | | 502,106 | | | | | | 496,404 | | | | | | 500,196 | | | | | | 487,442 | | |
Net income per share — basic
|
| | | $ | 1.13 | | | | | $ | 0.35 | | | | | $ | 2.78 | | | | | $ | 4.76 | | |
Net income per share — diluted
|
| | | $ | 1.13 | | | | | $ | 0.35 | | | | | $ | 2.77 | | | | | $ | 4.74 | | |
| | |
Nine Months Ended
September 30, 2024 |
| |
Nine Months Ended
September 30, 2023 |
| ||||||||||||||||||
| | |
Number of
Stock Options |
| |
Weighted
Average Exercise Price |
| |
Number of
Stock Options |
| |
Weighted
Average Exercise Price |
| ||||||||||||
Outstanding, beginning of period
|
| | | | 4,646,412 | | | | | C$ | 77.54 | | | | | | 4,976,636 | | | | | C$ | 75.04 | | |
Granted
|
| | | | 1,021,400 | | | | | | 72.65 | | | | | | 873,950 | | | | | | 70.36 | | |
Exercised
|
| | | | (3,077,468) | | | | | | 79.05 | | | | | | (530,926) | | | | | | 59.34 | | |
Forfeited
|
| | | | (67,937) | | | | | | 77.38 | | | | | | (149,365) | | | | | | 78.42 | | |
Expired
|
| | | | (12,925) | | | | | | 74.90 | | | | | | (22,650) | | | | | | 71.95 | | |
Outstanding, end of period
|
| | | | 2,509,482 | | | | | C$ | 73.71 | | | | | | 5,147,645 | | | | | C$ | 75.78 | | |
Options exercisable, end of period
|
| | | | 997,307 | | | | | C$ | 78.18 | | | | | | 3,411,601 | | | | | C$ | 77.22 | | |
| | |
Nine Months Ended
September 30, |
| |||||||||
| | |
2024
|
| |
2023
|
| ||||||
Risk-free interest rate
|
| | | | 4.11% | | | | | | 4.26% | | |
Expected life of stock options (in years)
|
| | | | 2.4 | | | | | | 2.5 | | |
Expected volatility of Agnico Eagle’s share price
|
| | | | 32.0% | | | | | | 36.0% | | |
Expected dividend yield
|
| | | | 3.0% | | | | | | 3.6% | | |
| | |
Equity
securities reserve |
| |
Cash flow
hedge reserve |
| |
Total
|
| |||||||||
Balance at December 31, 2022
|
| | | $ | (20,518) | | | | | $ | (8,488) | | | | | $ | (29,006) | | |
Net change in cash flow hedge reserve
|
| | | | — | | | | | | 882 | | | | | | 882 | | |
Transfer of net loss on disposal of equity securities to retained earnings
|
| | | | 2,045 | | | | | | — | | | | | | 2,045 | | |
Net change in fair value of equity securities
|
| | | | (84,183) | | | | | | — | | | | | | (84,183) | | |
Balance at September 30, 2023
|
| | | $ | (102,656) | | | | | $ | (7,606) | | | | | $ | (110,262) | | |
Balance at December 31, 2023
|
| | | $ | (91,643) | | | | | $ | (7,312) | | | | | $ | (98,955) | | |
Net change in cash flow hedge reserve
|
| | | | — | | | | | | 882 | | | | | | 882 | | |
Transfer of net gain on disposal of equity securities to retained earnings
|
| | | | (312) | | | | | | — | | | | | | (312) | | |
Net change in fair value of equity securities
|
| | | | 37,969 | | | | | | — | | | | | | 37,969 | | |
Balance at September 30, 2024
|
| | | $ | (53,986) | | | | | $ | (6,430) | | | | | $ | (60,416) | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
Revenues from contracts with customers
|
| | | $ | 2,154,561 | | | | | $ | 1,643,953 | | | | | $ | 6,062,707 | | | | | $ | 4,871,862 | | |
Provisional pricing adjustments on concentrate sales
|
| | | | 1,048 | | | | | | (1,542) | | | | | | (654) | | | | | | (1,593) | | |
Total revenues from mining operations
|
| | | $ | 2,155,609 | | | | | $ | 1,642,411 | | | | | $ | 6,062,053 | | | | | $ | 4,870,269 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
Revenues from contracts with customers: | | | | | | | | | | | | | | | | | | | | | | | | | |
Gold
|
| | | $ | 2,127,726 | | | | | $ | 1,623,244 | | | | | $ | 5,981,417 | | | | | $ | 4,805,397 | | |
Silver
|
| | | | 18,975 | | | | | | 14,745 | | | | | | 56,762 | | | | | | 46,464 | | |
Zinc
|
| | | | 1,928 | | | | | | 1,455 | | | | | | 2,581 | | | | | | 5,835 | | |
Copper
|
| | | | 5,932 | | | | | | 4,509 | | | | | | 21,947 | | | | | | 14,166 | | |
Total revenues from contracts with customers
|
| | | $ | 2,154,561 | | | | | $ | 1,643,953 | | | | | $ | 6,062,707 | | | | | $ | 4,871,862 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
Premiums realized on written foreign exchange call options
|
| | | $ | (391) | | | | | $ | (29) | | | | | $ | (1,064) | | | | | $ | (164) | | |
Unrealized (gain) loss on warrants
|
| | | | (53) | | | | | | 6,802 | | | | | | (3,903) | | | | | | 9,098 | | |
Realized loss (gain) on currency and commodity derivatives
|
| | | | 7,460 | | | | | | (3,851) | | | | | | 14,994 | | | | | | 26,992 | | |
Unrealized (gain) loss on currency and commodity derivatives
|
| | | | (24,169) | | | | | | 31,088 | | | | | | 38,363 | | | | | | (34,888) | | |
(Gain) loss on derivative financial instruments
|
| | | $ | (17,153) | | | | | $ | 34,010 | | | | | $ | 48,390 | | | | | $ | 1,038 | | |
| | |
Three Months Ended
September 30, |
| |
Nine Months Ended
September 30, |
| ||||||||||||||||||
| | |
2024
|
| |
2023
|
| |
2024
|
| |
2023
|
| ||||||||||||
Loss on disposal of property, plant and mine development (Note 8)
|
| | | $ | 5,420 | | | | | $ | 5,491 | | | | | $ | 25,786 | | | | | $ | 9,092 | | |
Interest income
|
| | | | (4,549) | | | | | | (1,630) | | | | | | (11,035) | | | | | | (5,579) | | |
Acquisition costs (Note 5)
|
| | | | — | | | | | | 4,591 | | | | | | — | | | | | | 21,503 | | |
Environmental remediation
|
| | | | 6,294 | | | | | | 1,890 | | | | | | 11,201 | | | | | | (87) | | |
Other
|
| | | | (2,699) | | | | | | 10,245 | | | | | | 37,767 | | | | | | 18,560 | | |
Total other expenses
|
| | | $ | 4,466 | | | | | $ | 20,587 | | | | | $ | 63,719 | | | | | $ | 43,489 | | |
| | |
Nine Months Ended September 30, 2024
|
| |||||||||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Exploration and
Corporate Development |
| |
Segment
Income (Loss) |
| ||||||||||||
LaRonde mine
|
| | | $ | 435,799 | | | | | $ | (193,482) | | | | | $ | — | | | | | $ | 242,317 | | |
LaRonde Zone 5 mine
|
| | | | 127,392 | | | | | | (58,059) | | | | | | — | | | | | | 69,333 | | |
Canadian Malartic
|
| | | | 1,092,558 | | | | | | (399,893) | | | | | | — | | | | | | 692,665 | | |
Goldex
|
| | | | 237,304 | | | | | | (100,531) | | | | | | — | | | | | | 136,773 | | |
Meliadine
|
| | | | 630,724 | | | | | | (254,463) | | | | | | — | | | | | | 376,261 | | |
Meadowbank
|
| | | | 873,047 | | | | | | (352,881) | | | | | | — | | | | | | 520,166 | | |
Kittila
|
| | | | 395,875 | | | | | | (176,535) | | | | | | — | | | | | | 219,340 | | |
Detour Lake
|
| | | | 1,140,293 | | | | | | (379,366) | | | | | | — | | | | | | 760,927 | | |
Macassa
|
| | | | 455,203 | | | | | | (146,763) | | | | | | — | | | | | | 308,440 | | |
Fosterville
|
| | | | 433,429 | | | | | | (114,824) | | | | | | — | | | | | | 318,605 | | |
Pinos Altos
|
| | | | 184,526 | | | | | | (122,980) | | | | | | — | | | | | | 61,546 | | |
La India
|
| | | | 55,903 | | | | | | (39,445) | | | | | | — | | | | | | 16,458 | | |
Exploration
|
| | | | — | | | | | | — | | | | | | (166,788) | | | | | | (166,788) | | |
Segment totals
|
| | | $ | 6,062,053 | | | | | $ | (2,339,222) | | | | | $ | (166,788) | | | | | $ | 3,556,043 | | |
Total segments income
|
| | | | | | | | | | | | | | | | | | | | | $ | 3,556,043 | | |
Corporate and other: | | | |||||||||||||||||||||||
Amortization of property, plant and mine development
|
| | | | (1,125,859) | | | ||||||||||||||||||
General and administrative
|
| | | | (145,436) | | | ||||||||||||||||||
Finance costs
|
| | | | (99,265) | | | ||||||||||||||||||
Loss on derivative financial instruments
|
| | | | (48,390) | | | ||||||||||||||||||
Foreign currency translation gain
|
| | | | 748 | | | ||||||||||||||||||
Care and maintenance
|
| | | | (35,078) | | | ||||||||||||||||||
Other expenses
|
| | | | (63,719) | | | ||||||||||||||||||
Income before income and mining taxes | | | | $ | 2,039,044 | | |
| | |
Nine Months Ended September 30, 2023 (Restated)
|
| |||||||||||||||||||||
| | |
Revenues from
Mining Operations |
| |
Production
Costs |
| |
Exploration and
Corporate Development |
| |
Segment
Income (Loss) |
| ||||||||||||
LaRonde mine
|
| | | $ | 362,984 | | | | | $ | (170,153) | | | | | $ | — | | | | | $ | 192,831 | | |
LaRonde Zone 5 mine
|
| | | | 99,370 | | | | | | (62,702) | | | | | | — | | | | | | 36,668 | | |
Canadian Malartic
|
| | | | 793,989 | | | | | | (326,936) | | | | | | — | | | | | | 467,053 | | |
Goldex
|
| | | | 209,802 | | | | | | (84,800) | | | | | | — | | | | | | 125,002 | | |
Meliadine
|
| | | | 507,057 | | | | | | (249,221) | | | | | | — | | | | | | 257,836 | | |
Meadowbank
|
| | | | 616,512 | | | | | | (381,411) | | | | | | — | | | | | | 235,101 | | |
Kittila
|
| | | | 332,616 | | | | | | (155,200) | | | | | | — | | | | | | 177,416 | | |
Detour Lake
|
| | | | 911,819 | | | | | | (333,214) | | | | | | — | | | | | | 578,605 | | |
Macassa
|
| | | | 316,145 | | | | | | (112,368) | | | | | | — | | | | | | 203,777 | | |
Fosterville
|
| | | | 454,291 | | | | | | (99,969) | | | | | | — | | | | | | 354,322 | | |
Pinos Altos
|
| | | | 156,227 | | | | | | (107,778) | | | | | | — | | | | | | 48,449 | | |
La India
|
| | | | 109,457 | | | | | | (72,056) | | | | | | — | | | | | | 37,401 | | |
Exploration
|
| | | | — | | | | | | — | | | | | | (169,784) | | | | | | (169,784) | | |
Segment totals
|
| | | $ | 4,870,269 | | | | | $ | (2,155,808) | | | | | $ | (169,784) | | | | | $ | 2,544,677 | | |
Total segments income
|
| | | | | | | | | | | | | | | | | | | | | $ | 2,544,677 | | |
Corporate and other: | | | |||||||||||||||||||||||
Amortization of property, plant and mine development
|
| | | | (1,111,364) | | | ||||||||||||||||||
General and administrative
|
| | | | (134,450) | | | ||||||||||||||||||
Finance costs
|
| | | | (94,989) | | | ||||||||||||||||||
Loss on derivative financial instruments
|
| | | | (1,038) | | | ||||||||||||||||||
Foreign currency translation gain
|
| | | | 2,258 | | | ||||||||||||||||||
Care and maintenance
|
| | | | (33,017) | | | ||||||||||||||||||
Revaluation gain
|
| | | | 1,543,414 | | | ||||||||||||||||||
Other expenses
|
| | | | (43,489) | | | ||||||||||||||||||
Income before income and mining taxes | | | | $ | 2,672,002 | | |
| | |
Total Assets as at
|
| |||||||||
| | |
September 30,
2024 |
| |
December 31,
2023 |
| ||||||
LaRonde mine
|
| | | $ | 1,053,612 | | | | | $ | 1,031,331 | | |
LaRonde Zone 5 mine
|
| | | | 164,302 | | | | | | 133,531 | | |
Canadian Malartic
|
| | | | 6,834,980 | | | | | | 6,898,179 | | |
Goldex
|
| | | | 436,579 | | | | | | 401,573 | | |
Meliadine
|
| | | | 2,385,608 | | | | | | 2,356,234 | | |
Meadowbank
|
| | | | 1,375,240 | | | | | | 1,346,911 | | |
Kittila
|
| | | | 1,638,529 | | | | | | 1,685,400 | | |
Detour Lake
|
| | | | 9,606,032 | | | | | | 9,353,435 | | |
Macassa
|
| | | | 1,744,837 | | | | | | 1,638,864 | | |
Fosterville
|
| | | | 1,154,528 | | | | | | 976,221 | | |
Pinos Altos
|
| | | | 387,724 | | | | | | 410,653 | | |
La India
|
| | | | 97,865 | | | | | | 113,736 | | |
Exploration
|
| | | | 1,369,796 | | | | | | 1,253,334 | | |
Corporate and other
|
| | | | 1,566,857 | | | | | | 1,085,547 | | |
Total assets
|
| | | $ | 29,816,489 | | | | | $ | 28,684,949 | | |