Agnico-Eagle Mines (AEM) drops 14.9% premarket after the company announces it's suspending...


Agnico-Eagle Mines (AEM) drops 14.9% premarket after the company announces it's suspending operations at a Quebec gold mine, following the collapse of a "weak volcanic rock unit." Agnico-Eagle expects to write off its investment in the mine for a post-tax loss of $170M, or $1/share.

Comments (2)
  • losbronces
    , contributor
    Comments (1007) | Send Message
     
    There are always a lot of risks in mining.

     

    Look at BHP, where the Olympic Dam open pit project is stalled: http://bit.ly/rd2045
    And FCX where Grasberg mining is halted: http://bit.ly/nZtK4P
    19 Oct 2011, 09:24 AM Reply Like
  • tiger8896
    , contributor
    Comments (740) | Send Message
     
    It's down 10 bucks today and I would not buy AEM, it only operates 6 mines and the Goldex mine was it's lowest cost production facility.
    19 Oct 2011, 11:51 AM Reply Like
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