Thank you, and good morning, everyone.
And welcome to the Agnico Eagle Mines second quarter conference call.
I'd like to start this call by thanking all of our employees for a strong quarter.
When we have a strong quarter, and this is a strong quarter, persons like myself and my colleagues, the executives here, we have the pleasure to get to speak about it, but we are well aware that there's a lot of hard work that goes into this by the thousands of employees at the mines, at the communities, at the support positions, at the rock face, who are really working hard day in, day out as a team to deliver these results.
So, we wanted to acknowledge that and thank everyone.
I'll acknowledge, are and first, that forward-looking X, should we everyone page say some there statements On should acknowledge.
as key and said, talk strong operating takeaway that I page very to With X, is about the the obvious takeaways the quarter, results. this headline key move we
this flows. strong quarterly in earnings Record in this excellent naturally which case, control, cost environment, production, cash and will important record especially inflationary lead to
to in the we'll and talk in operating the it has perhaps importantly, do, And and able -- results and do manner. team a been what safe environmentally about most responsible importantly, manner friendly and
next I think exciting and years progress of think story and is on But, real significant I and projects our real the the the results. real today, Agnico our several the past for exploration quarter, of the the story development message over Eagle
reflect our Company, next the I and exploration because cylinders And that XX say really on future we are all years, development the projects next on X the performing of operations, years. while results the the
next say might the Detour, outpassed quite years, which case is of I in impressive. the And XX
Detour that. get Lake, technical into provided we've we’ll a update,
a a the of part be discussion, in years. today's extending That'll reserves mineral and mine but XX key by life XX%
Odyssey continuing Lake gold good underground, the mines both two Detour and development, Odyssey, largest in Canada, good exploration.
initial and At on early as production some the on as Odyssey, quarter and development XXXX. production budget, first of schedule,
progress number the progress Shaft of completed made X region, year, the Lake there, evaluation. Amalgamated the on to Kirkland good expected end The towards Kirkland very be
development project, to bring and completion, Amaruq we've and a satellite assets. just both, production. projects, we'll in to coming approved number will starting continued of our support become Goldex at shaft not exploration thirds talk drift, are it's about success Akasaba through close will and way LaRonde, across of the those the But this development. two the about We just and which the part of the Goldex, Kittila underground, which quarter
exciting extension both Hope get east, excellent side, at exploration well, continuity massive Odyssey extension hole exploration these showing at existing news results; development step-out exploration our to the is. Detour the plan results possible orebodies with also west exciting the of shell about at at good more On really the of where suggesting importantly, out Kittila, of to detail, existing But for Bay, we'll continued X-kilometer X.X and At teams but the again, mine some -- pit underground, existing at current kilometers hole, exploration kilometers results. west, the on X again, a into infrastructure, XXX really good some sites: results meters Meliadine, and At potential exciting jurisdictions. or some other exciting in you results; with
would more detailed finally, giving I then merger this in are and be bit We that release a partial also everyone will in little to We a always we some are even promised mergers. to the to buffer to call that pressures the and exploration important hoping talk and seeing. important operational expecting synergies encourage we these would, look important want forward because cost about will inflationary this on synergies the August, And that. current and we're but more while a as synergies environment, that act extremely we of on
a manage lot of and taken $X,XXX, not environment. view our this call this early have remember it get to XXX,XXX cash towards call, proactive way. of And Sean costs, and is an it the talked questions was all-in in did we saying highlights, I to ounces able operating $XXX inflation that previous before at the cash of at on, sustaining that again, how about production at the at costs will on have going Boyd going So, steps please? costs XXXX. excellent we about looked over we it been transitory, $XXX XXX,XXX ounces talked a We've issue be and questions we that. we've that. of be about it We had in results. We at page, is and Next to
not have which we're but took Ontario notable particular, the some hard second in grades get That do the discussion. of than really the expected, immune the better Amaruq, better the what end it. we we had and of Gold Company. to It actions production manage in first done. and Lake of well at this across drove In team does into into callouts half year, half those And costs So, we're with proud year, some we're the rest of future but continue day, is Nunavut and and years. that's throughput pressure. working well the managed way than better in control we'll -- the through the advance, the results, see to Detour the has to best operations, Macassa. inflationary to it board, We've to superb remain to was and said, expected it again, efficient expected, than the
what end are see costs are towards range. so, trend of we to We're And upper the But the guidance. maintaining we guidance. that production expect on going cost we maintaining based the
line in done. will strengthen we it quarter. as Smith continuing course, the to little while in about of same able sheet, paid talk we due came we're But $XXX million balance another of quarter. the the our what since, being say down bit Some time paid balance dividend we've and through debt promised, capital $X.XX the And of business we our the combination with what Dave in right to at $XXX sheet, pleased a million strong with capital that to a the shareholders,
frankly I I'm them, ounces. and pleased the with them, say Next But that's the going a Detour, you’ve Natasha talk progress think so them please? Detour we're expansion the on gold reserves. to in about XX% I'll I'll results. the highlights highlights, increase on hitting X.X Eric most mill slide, again. bit to but a then hit of seen and ask and few exploration little some of million on At
moves So, over last ounces, the XXX,XXX will years the XX% offset ounces X.X we're and I we we're -- that grow. dip, good at XX.X of XXXX-XXXX million years, increased we're production. some year is ounces where and the XXX,XXX little what that a to direction achieve. that -- roughly I hard And XX trying a of and to for little working life. continue to recovered ounces those million to X in talk bit and XXXX ounces I end the a added dip the a mine period. gold, reason say life and added to increased reserves, that importantly mine million We've about little in say, between as at is same to later. going want of identified by And the at that's the call We've bit because have XXXX then importantly a a added
grade recently life. Importantly costs this technical That's lower XX and seen higher the previous for some pressures the years. next the update we've mine pretty inflationary of versus and impressively, incorporates good considering
think the lower to one XX So, best I frankly and on for the is able grade world, costs to gold fantastic. of be mines in increase years
life. lot a production, outline. a next about potentially our this, be work, It's a hole of through increase year. here, increasing we X over mine of west vision, and mining. It's and potential the again, a increase that but to get with vision, the absolutely is end give is point to results, towards of That there this to step-out ounces year. kilometers the we're clarity the vision get some of combination before, million exploration said and some expect for very would throughput will exciting, mill And, it underground Detour working turn there, we've to final X to be Natasha, also Our that, and excellent I'll Eric maybe our pit to on And to but to including talk you. able
