The flagship LaRonde mine has been Agnico-Eagle’s primary engine of earnings and cash flow since opening in 1988. The mine extracts gold from one of the largest deposits in Canada, holding proven and probable gold reserves of 5.0 million ounces. The higher-grade deep extension of LaRonde is expected to support a mine life through to 2022, with estimated life-of-mine gold production averaging 320,000 ounces per year. 2008 In Review   The LaRonde mill processed an average of 7,210 tonnes of ore per day in 2008, compared to a daily average of 7,325 tonnes in 2007. Payable gold production was 6% lower than in 2007, largely due to an expected 4% decline in the gold grade. Good cost control continued to be a hallmark of LaRonde, as minesite costs per tonne rose only 2% over 2007, largely due to higher expenditures on consumables such as steel, fuel and chemical reagents. Net of byproduct revenues, total cash costs per ounce of gold of $106 remained very low by industry standards. The increase from the 2007 level of minus $365 was primarily a result of lower byproduct revenue which was in turn affected by a 41% drop in the realized zinc price and lower payable production. Zinc production volumes are expected to continue to decline as we transition to the lower mine where the ore has more gold but lower copper and zinc grades. Outlook Construction continued on new infrastructure that will enable us to access deeper ore at LaRonde as of 2011. The sinking of a new internal shaft, which will extend to a depth of 2,865 metres, is well advanced. A series of ramps will enable mining to a depth of approximately 3,100 metres. Full production rates are expected in 2013. In 2009, we are targeting 203,000 ounces of gold production at LaRonde at estimated total cash costs of $295 per ounce. Ongoing exploration programs have enabled us to consistently replace mineral reserves, despite the high production rates. In 2008, LaRonde once again replaced its produced ounces, effectively adding a year to its mine life. In 2009, our focus will be on resource conversion and additional potential at depth.