‘Strongest pipeline I've ever seen’ - Agnico Eagle Mines Ammar Al-Joundi benefits from gold upside

Cost containment is key, so investors benefit from high gold prices, said Ammar Al-Joundi, president and CEO of Agnico Eagle Mines. 

Last week,  Al-Joundi spoke to Kitco Mining at the Gold Forum Americas / XPL-DEV 2024 in Colorado.

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian based gold mining company. It is the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico.

With gold hitting several all-time highs in 2024, the company is reporting good financial results. 

“We love the gold price and in particular we love all the cash flow we're generating for our owners,” said Al-Joundi. “This is a good time to be in this space. Our mines are running well. I've been in this business for 25 years. I've been in this business for 25 years. This is the strongest pipeline I've ever seen.”

Al-Joundi said cost control is critical. 

“For us, it's essential…that when the gold price goes up, that money accrues to our shareholders,” said Al-Joundi. 

Al-Joundi said he is not betting on copper or gold. The quality of the asset is all that matters. 

“We're not setting a target,” said Al-Joundi. “Whatever position we have in copper is going to be driven by the opportunity to make money.”

Coverage of the Gold Forum Americas / XPL-DEV 2024 is sponsored by Metalla Royalty.

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