Agnico Eagle Mines (AEM +2.0%) is bullish on the prospects for its Fosterville mine and growth in Australia, President Ammar Al-Joundi told Reuters following his first visit there since the company's merger with Kirkland Lake Gold.
"With Fosterville... we have an exceptional ore body and an exceptional team, and it is our intention to be here hopefully for decades, multiple mines for multiple decades," Al-Joundi reportedly said.
"The stability of where you operate is going to be a real differentiator," Al-Joundi said, adding that Agnico Eagle is taking a measured approach to exploration in Colombia, which has "tremendous mineral potential," but "is it yet in a position where we feel we can go in and be there for 50 years? Not yet."
Agnico Eagle's merger with Kirkland Lake Gold is expected to result in more than $10B in operational efficiencies achieved over 10 years," Moonshot Equity Analysis writes in a bullish analysis published recently on Seeking Alpha.