Agnico Eagle Mines Limited history

After getting married and experiencing the death of his father, he was mature enough in 1956 that he decided to go into business with his brother Norman to develop properties into producing mines.

Agnico Eagle is a senior Canadian gold mining company that has produced precious metals since 1957.

In 1960 Agnico discovered a major silver deposit, but poor management squandered the company's opportunities and unwisely opted to lease out two of its best properties.

In 1961 the company, now known as New Jack Lake Uranium Mines Ltd., acquired some property in Joutel that it hoped might contain copper and zinc.

1963: Paul Penna gains control of Agnico.

A year later it assumed yet another name, Equity Explorations Ltd., and as such began a drilling program in 1964.

In March 1965 assay reports were so promising that Equity's stock jumped to nearly $2 a share and the company was able to take advantage of sudden interest to sell $800,000 of new shares.

Also during the 1960s Penna began his involvement with Eagle Gold Mines, which was launched in 1945 as Jack Lake Mines Ltd., a base metals company with a few claims in Quebec. As a result, Penna was able to wrest away control and was elected president in November 1966.

One of the first things he did was change its name; in February 1967 Equity became Eagle Gold Mines.

In 1971 he bought the Telbel property adjoining Eagle, which he had targeted years earlier.

Then, in 1972 the two mining companies merged, becoming Agnico-Eagle Mines Limited.

Two years later, in February 1974, the Eagle mine became operational, just in time to take advantage of record gold prices.

Our Board of Directors has declared a cash dividend every year since 1983.

Prior to joining Agnico Eagle in 1985, Mr.

Our flagship LaRonde mine has produced 6.3 million ounces of gold since 1988 and remains a consistent engine of earnings and cash flow.

Celej is a Senior Portfolio Manager with RBC Dominion Securities Inc. and has been in the investment industry since 1989.

In 1993, they completed the purchase of the Goldex mine, becoming the 100% owner of the largest unexploited gold deposit in Quebec.

1996: Paul Penna dies.

Grosskopf was President of Cormark Securities Inc. and co-founder of Newcrest Capital Inc. which was acquired by TD Bank Financial Group in 2000.

Allaire has been with Agnico Eagle since 2001 and has held increasingly senior operational and supervisory roles at our Meadowbank and La Ronde mines as well as in our Abitibi (Quebec) region operations.

In 2004 it acquired an interest in a Finnish company, Riddarhyttan Resources AB, gaining a stake in the Surrikuusikko gold deposit located some 500 miles north of Helsinki.

Source: International Directory of Company Histories, Volume 71, St James Press, 2005.

Prior to his appointment, he held the role of Corporate Director, Treasurer where he helped develop and grow Agnico Eagle’s treasury and financial risk management strategy and has also held the role of Mine Controller at the Meadowbank Mine since joining in 2007.

He joined Agnico Eagle in 2008 as Manager, Taxation and Treasury Operations.

In 2010, Agnico Eagle completed the purchase of the Meliadine property, located southeast of Meadowbank near Rankin Inlet, Nunavut.

Cafazzo is the Vice President, Information Technology and has held this position since 2011.

Prior to joining Agnico Eagle in 2013, Mr.

Canadian Malartic (50% interest obtained in June 2014) is one of the world's largest gold producers.

Prior to his appointment, he held roles various roles including General Manager - Meadowbank Complex and General Manager, Meliadine and has been with the Company since 2016.

In 2017, Agnico Eagle celebrated its 60th anniversary.

In 2018, CEO Sean Boyd received The Northern Miner's "Mining Person of the Year Award" at the annual Pacific Mine Forum (PMF).

Our second gold mine in Nunavut, Meliadine, achieved commercial production on May 14, 2019 and the mine produced 191,113 ounces of gold in 2019.

Canadian Malartic produced its 5 millionth ounce on June 18, 2020.

Aglukkaq was a member of the Board of Directors of TMAC Resources Inc. until its acquisition by the Company in February 2021.