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<SEC-DOCUMENT>0001010549-02-000449.txt : 20020806
<SEC-HEADER>0001010549-02-000449.hdr.sgml : 20020806
<ACCEPTANCE-DATETIME>20020806172103
ACCESSION NUMBER:		0001010549-02-000449
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20020831
FILED AS OF DATE:		20020806

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGNICO EAGLE MINES LTD
		CENTRAL INDEX KEY:			0000002809
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13422
		FILM NUMBER:		02720977

	BUSINESS ADDRESS:	
		STREET 1:		401 BAY ST STE 2302
		STREET 2:		C/O BARRY LANDEN
		CITY:			TORONTO ONTARIO CANA
		STATE:			A6
		BUSINESS PHONE:		4169471212

	MAIL ADDRESS:	
		STREET 1:		TROUTMAN SANDERS LLP
		STREET 2:		1660 INTERNATIONAL DRIVE, STE. 600
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>agnico6k080502.txt
<TEXT>
                                    FORM 6-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                            Report of Foreign Issuer

                      Pursuant to Rule 13a-16 or 15d-16 of

                       the Securities Exchange Act of 1934


For the Month of                    August 2002
                 ---------------------------------------------------------------


                           Agnico-Eagle Mines Limited
- --------------------------------------------------------------------------------
                 (Translation of registrant's name into English)


              401 Bay Street, Suite 2302, Toronto, Ontario M5H 2Y4
- --------------------------------------------------------------------------------



     [Indicate  by check mark whether the  registrant  files or will file annual
reports under cover Form 20F or Form 40-F.]


      Form 20-F  X                                 Form 40-F
                ---                                          ---


     [Indicate  by  check  mark  whether  the   registrant  by  furnishing   the
information contained in this Form is also thereby furnishing the information to
the Commission  pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of
1934.


      Yes                                          No
          ---                                         ---

     [If  "Yes" is  marked,  indicate  below  the file  number  assigned  to the
registrant in connection with Rule 12g3-2(b):82- _________]



<PAGE>


                                   SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.



                                                     AGNICO-EAGLE MINES LIMITED



Date:  August 6, 2002                                By:  /s/ Sean Boyd
                                                          ----------------------
                                                          Sean Boyd
                                                          President and Chief
                                                          Executive Officer
<PAGE>



                           SECOND QUARTER REPORT 2002

Agnico-Eagle Mines Limited reported second quarter net earnings of $3.4 million,
or $0.05  per share  compared  to $0.5  million,  or $0.01 per share in the same
period  in 2001.  Operating  cash  flow was $7.6  million,  or $0.11  per  share
compared to $4.1 million,  or $0.07 per share in 2001. For the year to date, net
earnings were $3.8  million,  or $0.06 per share  compared to $1.0  million,  or
$0.02 per share in 2001 while  operating cash flow was $12.6  million,  or $0.18
per share compared to $9.9 million, or $0.18 per share in 2001.

Highlights for the second quarter include:

o    LaRonde achieves new quarterly  records for gold production and tons of ore
     processed.
o    Agnico-Eagle's  full  leverage  to  the  gold  price  and  increasing  gold
     production  result in strong  earnings  and cash flow  growth.
o    Excellent  drilling  results  from Zone 20 North Gold and  discovery of new
     high-grade vein mineralization on the western limit of Zone 20 South.

As we move  towards  the fourth  quarter  and the  completion  of our  expansion
program,  we have  begun to  realize  the  benefits  of this  expansion  through
increased  gold  production  and  strong  earnings  and cash flow in the  second
quarter.  In  addition,   our  extensive  drill  program  continues  to  confirm
increasing gold  mineralization at depth. This information will assist us in the
evaluation of the feasibility of developing a new deep mine at LaRonde.

QUARTERLY MANAGEMENT DISCUSSION AND ANALYSIS

Change in Reporting Basis

As a result of its substantial US shareholder base and to maintain comparability
with other  companies in the gold sector,  the Company changed its primary basis
of reporting to US GAAP  effective  January 1, 2002. A full set of  consolidated
financial statements and the related management discussion and analysis prepared
under  Canadian GAAP will also  continue to be prepared for statutory  reporting
purposes in Canada and sent to shareholders.


Results of Operations

The  following  table  provides a summary  analysis of the key  variances in net
earnings for the second quarter and year to date from those reported in 2001:

 (millions of dollars)                      Second Quarter         Year to date
 ------------------------------------------------------------------------------
 Increase in gold price                               $2.8                 $4.9
 Decrease in interest expense                          1.7                  3.2
 Increase in El Coco royalty                         (1.5)                (3.4)
 Other                                               (0.1)                (1.8)
 Net variance                                         $2.9                 $2.9

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                                       1
<PAGE>


Excluding  the El Coco  royalty,  cash  costs to produce an ounce of gold in the
second quarter increased somewhat to $124 per ounce from $111 per ounce in 2001.
Total cash  operating  costs to produce an ounce of gold were $164  compared  to
$134 in the same  quarter of 2001. A gold  production  increase of 13% to 74,617
ounces was more than offset by lower zinc production and a substantially  weaker
zinc  price.  The  majority  of the net  difference  in  total  cash  costs  was
essentially  attributable  to royalties  payable on the El Coco property,  which
increased  from $23 per ounce in the second  quarter of 2001 to $40 per ounce of
gold produced in 2002.  The following  table  provides a  reconciliation  of the
costs per ounce of gold produced to the financial statements:

(millions of dollars, except where noted)      Second Quarter      Year to date
- --------------------------------------------------------------------------------
Cost of production per income statement               $19.6             $37.2
Adjustments:
  Byproduct revenues                                  (7.0)            (14.6)
  Non cash reclamation provision                      (0.4)             (0.7)
Total cash operating costs                            $12.2             $21.9
Gold production (ounces)                             74,617           134,876
Total cash operating cost per ounce                    $164              $162

Gold  production  in 2002 is now forecast to be 320,000  ounces  compared to the
original  budget of 340,000 ounces.  The decrease in the gold production  target
for the year  reflects the impact of delays in  development  in Zone 20 North at
depth caused by delays in ventilation  installation.  As a result, more emphasis
has been placed on  production  from upper  zinc/silver  parts of Zone 20 North.
This  re-sequencing  of production is expected to push more gold production into
2003 and result in substantially  higher than budget zinc production in 2002. In
addition,  an  electrical  failure of the SAG mill drive  resulted in 11 days of
lost production in July. As a result of the lower than previously projected gold
production,  a higher El Coco  royalty  due to the  increased  gold  price and a
weaker than budget zinc price,  cash costs are expected to be $145 per ounce for
the full year compared to the original budget of $130 per ounce.

Liquidity and Capital Resources

At June 30, 2002 Agnico-Eagle's consolidated cash and cash equivalents increased
to $28.3 million while working capital was $53.2 million.  Including the undrawn
portion of its bank credit facility, the Company has $123.3 million of available
liquidity.

Cash flow from  operating  activities  in the second  quarter  improved  to $7.6
million from $4.1 million. The increase in cash flow from continuing  operations
is  attributable  to an increased gold price,  higher gold  production and lower
interest expense, offset somewhat by lower byproduct metal prices.

For the three months,  capital  expenditures were $15.2 million compared to $7.5
million in the  corresponding  2001  period.  The  increase is  attributable  to
increased  underground  development  and the mill expansion  associated with the
expansion of the LaRonde operation to 7,000 tons per day.

DRILLING AND EXPLORATION

A total of six  drills  were in  operation,  completing  43,620  feet of diamond
drilling in the quarter. The drills were located on the following target areas:

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                                       2
<PAGE>
<TABLE>
<CAPTION>


     o    One drill on production delineation drilling between Levels 98 - 152.
     o    Two drills on definition drilling on and below Level 194.
     o    Two  drills  on Level  215  testing  Zone 20 North at depth and to the
          west.
     o    One drill on the 20th Level exploration drift on the El Coco Property.

     Delineation  drilling  above  Level  152  focused  on Zones 20 North and 20
     South.  All of the results  were  generated  from  production  draw points.
     Highlights from Zone 20 North drilling are as follows:



                   True          Gold(oz/ton)
  Drill Hole    Thickness(ft)     Cut(1.5 oz)   Silver(oz/ton)    Copper(%)        Zinc(%)
- -------------   -------------   -------------   -------------   -------------   -------------
<S>             <C>             <C>             <C>             <C>             <C>

     10620691            18.4            0.19            8.21            1.75            4.13
- -------------   -------------   -------------   -------------   -------------   -------------
     10620711            15.7            0.13            3.90            2.07            3.44
- -------------   -------------   -------------   -------------   -------------   -------------
     10620712            12.1            0.11            4.96            1.32           10.87
- -------------   -------------   -------------   -------------   -------------   -------------
     10620731            12.8            0.19            3.09            1.00            3.29
- -------------   -------------   -------------   -------------   -------------   -------------
     10620732            13.1            0.13            4.96            1.24            2.18
- -------------   -------------   -------------   -------------   -------------   -------------
    3152-06Au             9.8            0.17            1.27            0.08            0.02
- -------------   -------------   -------------   -------------   -------------   -------------
    3152-06Zn            47.6            0.02            2.45            0.11            6.00
- -------------   -------------   -------------   -------------   -------------   -------------
    3152-08Au            31.5            0.20            1.73            1.52            1.66
- -------------   -------------   -------------   -------------   -------------   -------------
    3152-08Zn            51.8            0.02            2.80            0.04           11.22
- -------------   -------------   -------------   -------------   -------------   -------------
    3152-11Au            16.4            0.17            0.59            0.30            0.02
- -------------   -------------   -------------   -------------   -------------   -------------
    3152-11Zn            47.6            0.03            3.13            0.15            6.55
- -------------   -------------   -------------   -------------   -------------   -------------
</TABLE>



The 106 Series drill holes were located  along the upper western edge of Zone 20
North.  The series of drill holes  drilled  below Level 152 close to the western
margin continued to confirm the transition between zinc-silver mineralization in
the upper part of the  deposit,  grading  to  increasing  gold-copper  at depth.
Highlights from Zone 20 South follow:
<TABLE>
<CAPTION>

                    True         Gold(oz/ton)
  Drill Hole    Thickness(ft)    Cut(2.0 oz)    Silver(oz/ton)     Copper(%)       Zinc(%)
- -------------   -------------   -------------   -------------   -------------   -------------
<S>                      <C>             <C>             <C>             <C>             <C>
   09821771              14.1            0.32            4.90            0.50            6.51
- -------------   -------------   -------------   -------------   -------------   -------------
   10221861              14.4            0.28            2.64            0.10            4.67
- -------------   -------------   -------------   -------------   -------------   -------------
   10221871              11.5            0.66            5.99            0.14            6.97
- -------------   -------------   -------------   -------------   -------------   -------------
   10221872              13.5            0.68            6.47            0.20            7.01
- -------------   -------------   -------------   -------------   -------------   -------------
   10221891              16.4            0.47            4.45            0.12            6.09
- -------------   -------------   -------------   -------------   -------------   -------------
   10621902               9.2            0.31            4.45            0.04            8.87
- -------------   -------------   -------------   -------------   -------------   -------------
</TABLE>


These  drill  holes were close to the upper  western  ore limit above Level 102.
These mining  blocks are scheduled  for  production  during the third quarter of
2002. The drilling indicated that several additional  high-grade blocks would be
available for production during the second half of the year.

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                                       3
<PAGE>
<TABLE>
<CAPTION>

An intriguing value was returned in drill hole 09821822,  which tested the upper
western  limit of Zone 20 South for  production  purposes.  The  drill  hole was
inadvertently  extended 44 feet to the south and entered the Cadillac Sediments,
intersecting a quartz vein containing  numerous specks of visible gold returning
an  intersection  of 0.60 ounces of gold per ton over a core length of 3.3 feet,
28 feet within the sediments.  Two additional  drill holes were completed  along
strike, both returning high-grade values. To date, the vein has been traced over
a strike  length of 200 feet.  The type and  grade of  mineralization  is highly
unusual for the Cadillac  Sediments.  The results from the three completed drill
holes have been tabulated below. Follow up drilling is in progress.



                     Core        Gold(oz/ton)
 Drill Hole      Length(ft)      Cut(2.0 oz)    Silver(oz/ton)     Copper(%)       Zinc(%)
- -------------   -------------   -------------   -------------   -------------   -------------
<S>             <C>             <C>             <C>             <C>             <C>
     09821822             3.3            0.60            2.25            0.01            0.10
- -------------   -------------   -------------   -------------   -------------   -------------
      3098-01             3.6            0.98            0.38              NV              NV
- -------------   -------------   -------------   -------------   -------------   -------------
      3098-02             2.0            0.27            0.15              LV               V
- -------------   -------------   -------------   -------------   -------------   -------------
</TABLE>


Definition drilling increased  significantly due to the increased access on both
Levels 194 and 215. The drill holes were  completed  from the haulage drifts and
production draw points.  The drill holes from Zone 20 North have been summarized
below:
<TABLE>
<CAPTION>



                     True        Gold(oz/ton)
  Drill Hole    Thickness(ft)     Cut(1.5 oz)   Silver(oz/ton)     Copper(%)       Zinc(%)
- -------------   -------------   -------------   -------------   -------------   -------------
<S>             <C>             <C>             <C>             <C>             <C>
     19120491            44.0            0.24            2.05            0.98            0.73
- -------------   -------------   -------------   -------------   -------------   -------------
     19120501            48.9            0.14            2.15            0.92            0.56
- -------------   -------------   -------------   -------------   -------------   -------------
     19120502            54.1            0.12            2.69            0.84            0.69
- -------------   -------------   -------------   -------------   -------------   -------------
     19420501            48.2            0.12            2.12            0.64            1.26
- -------------   -------------   -------------   -------------   -------------   -------------
      3194-37            37.7            0.21            1.21            0.92            0.36
- -------------   -------------   -------------   -------------   -------------   -------------
      3194-40            23.6            0.30            0.52            0.45            0.52
- -------------   -------------   -------------   -------------   -------------   -------------
     21220481            62.7            0.18            3.27            1.25            2.03
- -------------   -------------   -------------   -------------   -------------   -------------
     21220482            56.1            0.16            4.15            1.75            2.88
- -------------   -------------   -------------   -------------   -------------   -------------
     21220492            42.0            0.13            4.40            0.71            3.42
- -------------   -------------   -------------   -------------   -------------   -------------
     21520471            57.4            0.18            2.57            1.25            0.61
- -------------   -------------   -------------   -------------   -------------   -------------
     21520472            57.4            0.14            2.53            1.27            1.90
- -------------   -------------   -------------   -------------   -------------   -------------
     21520473            86.9            0.16            3.76            0.75            3.92
- -------------   -------------   -------------   -------------   -------------   -------------
     21520481            61.4            0.17            6.86            0.99            6.00
- -------------   -------------   -------------   -------------   -------------   -------------
     21520482            59.7            0.14            2.83            1.09            3.20
- -------------   -------------   -------------   -------------   -------------   -------------
     21520491            49.5            0.09            2.50            0.32            4.50
- -------------   -------------   -------------   -------------   -------------   -------------
     21520492            53.1            0.11            5.21            0.33            5.79
- -------------   -------------   -------------   -------------   -------------   -------------
</TABLE>


Most of the drilling  during the quarter was  restricted  between  Levels 191 to
215.  Drilling on Level 194 started to confirm the  higher-grade  mineralization
originally  encountered in previously reported drilling conducted from the Penna
Shaft station (drill holes 3194-37, 40, 47). The thickest intercept drilled from

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                                       4
<PAGE>
<TABLE>
<CAPTION>

the Level 215 horizon was obtained in drill hole 21520473 which intersected 86.9
feet grading 0.16 ounces of gold, 3.76 ounces of silver,  0.75% copper and 3.92%
zinc. On a net smelter return basis and thickness,  this drill hole returned the
best  combination  of grade and thickness of any drill hole completed to date in
the lower part of the mine.

One additional deep drill hole was completed immediately below the bottom of the
shaft. The results have been summarized below:



                    True         Gold(oz/ton)
  Drill Hole     Thickness(ft)   Cut(1.5 oz)    Silver(oz/ton)     Copper(%)        Zinc(%)
- -------------   -------------   -------------   -------------   -------------   -------------
<S>             <C>             <C>             <C>             <C>             <C>

      3194-47            11.2            0.22            0.35            0.18            0.03
- -------------   -------------   -------------   -------------   -------------   -------------
</TABLE>

This drill hole was completed along the western margin of Zone 20 North, outside
of the  current  reserve-resource  limit.  The  gold  values  were  higher  than
expected, once again providing credence to the possibility of zoning within Zone
20  North  and  higher-grade   mineralization  towards  the  west.  Furthermore,
definition drilling conducted from Levels 152 to 215 also appear to confirm this
observation.  Currently,  two drills are in operation,  both probing the western
margin at depths of 8,500 feet and 9,500 feet below surface.

The eastern  exploration  program continued on the 20th Level exploration drift,
with a total of 7 drill holes  completed  below the level.  While no significant
results were returned,  the favourable  geology,  sulfide  mineralization  (i.e.
chalcopyrite & sphalerite) continued to be intersected. Surface mapping has also
traced the  favourable  geological  unit  across the El Coco  Property  onto the
Sphinx Property.

The underground drilling has also determined the western limit of the alteration
zone,  confirming the western plunge  originally  indicated by surface drilling.
The alteration  zone is open to the east and at depth.  Currently,  one drill is
continuing  to test the  horizon  at depth and to the  east.  To date a total of
3,864 feet of level development has been completed on the El Coco Property.

EXPANSION UPDATE

Construction  is on schedule to reach the 7,000 ton per day expanded  production
rate in the fourth quarter of this year.


Underground,  the first  production  stope on Level 194 was blasted during June.
Extraction was delayed awaiting the completion of the ore pass between Level 194
and 215,  which was  slowed  due to a delay in  installing  ventilation  to that
depth.  The spot cooling  system was completed by the end of June and started in
early July. During the changeover planned for the end of September,  the surface
fans will be upgraded bringing them up to maximum capacity.


At the mill, the refinery  heating and  ventilation  system was upgraded and the
vacuum  cleaning  system was  completed in the  concentrate  load out area.  The
grinding bay  foundations  were completed and the building  erected.  Mechanical
installation  of the  ball  mill was  commenced  with  the  motor  in place  and
electrical  installation  started.  Piping  modifications to the copper and zinc
circuits are progressing well and erection of the two additional leach tanks and
the ultra high capacity thickeners was completed.  The refinery foundations were
completed and building erection is also proceeding well.

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                                       5
<PAGE>

With regards to the deep mining  project of LaRonde's 5.2 million ounce resource
position,  a project team has been  assembled and a detailed  feasibility  study
initiated.  The results of this study are  expected to be available in the first
half of 2003.

The Longitudinal  illustrations  that detail the drill results presented in this
report can be viewed and/or downloaded from the Company's website:

         www.agnico-eagle.com (Press Release) or
         --------------------
         http://files.newswire.ca/3/LONG_20N1.pdf
         ----------------------------------------
         http://files.newswire.ca/3/LONG_20N2.pdf
         ----------------------------------------
         http://files.newswire.ca/3/LONG_20N3.pdf
         ----------------------------------------
         http://files.newswire.ca/3/LONG_20S.pdf
         ---------------------------------------

This report contains certain "forward-looking statements" (within the meaning of
the United States Private Securities Litigation Reform Act of 1995) that involve
a number  of risks  and  uncertainties.  There  can be no  assurance  that  such
statements  will prove to be accurate;  actual  results and future  events could
differ  materially  from  those  anticipated  in  such  statements.   Risks  and
uncertainties  are disclosed  under the heading "Risk  Factors" in the Company's
Annual Information Form (AIF) filed with certain Canadian securities  regulators
(including the Ontario and Quebec  Securities  Commissions)  and with the United
States Securities and Exchange Commission (as Form 20-F).

Agnico-Eagle  Mines  Limited  is an  established  Canadian  gold  producer  with
operations  located  principally  in  Northwestern  Quebec and  exploration  and
development   activities  in  Canada  and  the   Southwestern   United   States.
Agnico-Eagle's   operating   history  includes  almost  three  decades  of  gold
production primarily from underground mining operations.  The Company is focused
on an  expansion  program at LaRonde  that is expected  to increase  annual gold
production and reduce cash costs to produce an ounce of gold. Current proven and
probable  mineral  reserves  stand  at 3.3  million  contained  ounces,  with an
additional  5.2 million ounces in the mineral  resource  category at its LaRonde
Mine.




July 24, 2002






Sean Boyd
President & Chief Executive Officer

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                                       6
<PAGE>
<TABLE>
<CAPTION>




Summarized Quarterly Data (Unaudited)                 Agnico-Eagle Mines Limited
- --------------------------------------------------------------------------------

(thousands of United States dollars,                              Three months ended June 30,  Six months ended June 30,
except where noted)                                                    2002              2001           2002        2001
- ------------------------------------------------------------------------------------------------------------------------


<S>                                                                <C>            <C>           <C>           <C>
Consolidated Financial Data

Income and cash flow
Revenues from mining operations                                      $  30,616     $  29,513     $  56,163     $  50,269
Net income (loss) for period                                         $   3,360     $     480     $   3,837     $     978
Net income (loss) per share                                          $    0.05     $    0.01     $    0.06     $    0.02
Operating cash flow (before non-cash working capital)                $   7,633     $   4,134     $  12,605     $   9,940
Operating cash flow per share                                        $    0.11     $    0.07     $    0.18     $    0.18
Weighted average number of shares - basic (in thousands)                69,050        56,668        68,524        56,310

Operating and Financial Summary
LaRonde Division
Revenues from mining operations                                      $  30,616     $  29,513     $  56,163     $  50,629
Mine operating costs                                                    19,613        21,256        37,216        33,129
- ------------------------------------------------------------------------------------------------------------------------
Mine operating profit (loss)                                         $  11,003     $   8,257     $  18,947     $  17,500
========================================================================================================================


Tons of ore milled                                                     491,083       459,400       968,416       937,389
Head grades:
     Gold                                                                 0.17          0.16          0.16          0.15
     Silver                                                               2.28          2.53          2.39          2.31
     Zinc                                                                 3.64%         5.32%         4.43%         5.27%
     Copper                                                               0.30%         0.21%         0.26%         0.19%
Recovery rates:
     Gold                                                                92.92%        93.83%        93.73%        93.54%
     Silver                                                              80.10%        80.70%        81.92%        81.60%
     Zinc                                                                81.40%        78.10%        83.35%        78.50%
     Copper                                                              74.40%        60.30%        65.23%        60.30%
Payable production:
     Gold (ounces)                                                      74,617        65,937       134,876       122,560
     Silver (ounces in thousands)                                          709           723         1,433         1,357
     Zinc (pounds in thousands)                                         24,740        32,600        60,737        65,862
     Copper (pounds in thousands)                                        2,084         1,039         3,215         1,965
Realized prices per unit of production (US$):
     Gold (per ounce)                                                $     310     $     267     $     306     $     266
     Silver (per ounce)                                              $    4.67     $    4.59     $    4.59     $    4.57
     Zinc (per pound)                                                $    0.36     $    0.42     $    0.35     $    0.46
     Copper (per pound)                                              $    0.78     $    0.88     $    0.77     $    0.86

Onsite operating costs per ton milled (Canadian dollars)             $      52     $      52     $      52     $      52
========================================================================================================================


Operating costs per gold ounce produced (US$):
Onsite operating costs (including reclamation provision)             $     219     $     237     $     237     $     261
Less: Non-cash reclamation provision                                        (5)           (5)           (5)           (5)
         Net byproduct revenues                                            (90)         (121)         (106)         (137)
         ----------------------------------------------------------------------------------------------------------------
Cash operating costs                                                 $     124     $     111     $     126     $     119
Accrued El Coco royalties                                                   40            23            36            12
Total cash costs                                                     $     164     $     134     $     162     $     131
Non-cash costs:
     Reclamation provision                                                   5             5             5             5
     Depreciation and amortization                                          49            48            51            48
     -------------------------------------------------------------------------------------------------------------------
Total operating costs                                                $     218     $     187     $     218     $     184
========================================================================================================================
</TABLE>
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                                       7
<PAGE>

Consolidated Balance Sheets                           Agnico-Eagle Mines Limited
- --------------------------------------------------------------------------------

 (thousands of United States dollars, US GAAP basis)     June 30,  December 31,
                                                          2002         2001
- --------------------------------------------------------------------------------
                                                        (Unaudited)
ASSETS
Current
   Cash and cash equivalents                             $  28,311    $  21,180
   Metals awaiting settlement and gold bullion              29,567       20,080
   Income taxes recoverable                                   --            628
   Inventories:
     In-process and unsold metal products                    5,772        5,854
     Supplies                                                3,808        3,903
   Prepaid expenses and other                                3,509        3,822
   ----------------------------------------------------------------------------
Total current assets                                        70,967       55,467
Fair values of derivative financial instruments              1,728        6,851
Investments and other assets                                11,340        6,035
Future income and mining tax assets                         27,179       27,196
Mining properties                                          323,746      301,221
- -------------------------------------------------------------------------------
                                                         $ 434,960    $ 396,770
===============================================================================

LIABILITIES AND SHAREHOLDERS' EQUITY
Current
   Accounts payable and accrued liabilities              $  15,151    $   9,423
   Dividends payable                                           534        1,853
   Income and mining taxes payable                              63        1,231
   Interest payable                                          2,066        2,052
   ----------------------------------------------------------------------------
Total current liabilities                                   17,814       14,559
Long-term debt                                             173,750      151,081
Reclamation provision and other liabilities                  4,620        4,055
Fair values of derivative financial instruments              6,833        7,026
Future income and mining tax liabilities                    16,830       18,317

Shareholders' Equity
Common shares
     Authorized - unlimited
     Issued - 69,431,407 (2001 - 67,722,853)               420,179      407,347
Contributed surplus                                          7,181        7,181
Deficit                                                   (193,383)    (197,220)
Accumulated other comprehensive loss                       (18,864)     (15,576)
- -------------------------------------------------------------------------------
Total shareholders' equity                                 215,113      201,732
- -------------------------------------------------------------------------------
                                                         $ 434,960    $ 396,770
===============================================================================

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                                       8
<PAGE>
<TABLE>
<CAPTION>



Interim Consolidated Statements of Income (Unaudited)                                Agnico-Eagle Mines Limited
- ----------------------------------------------------------------------------------------------------------------
(thousands of United States dollars,                 Three months ended June 30,       Six months ended June 30,
except per share amounts, US GAAP basis)                2002             2001             2002            2001
- ----------------------------------------------------------------------------------------------------------------
<S>                                                  <C>                <C>            <C>              <C>
REVENUES

Revenues from mining operations                      $ 30,616           $ 29,513       $ 56,163         $ 50,629
Interest and sundry income                                577              3,004            613            3,329
- ----------------------------------------------------------------------------------------------------------------
                                                       31,193             32,517         56,776           53,958
COSTS AND EXPENSES
Production                                             19,613             21,256         37,216           33,129
Exploration                                               894                913          1,643            1,886
Depreciation and amortization                           3,678              3,145          6,929            6,526
General and administrative                              1,498                989          2,499            2,059
Capital tax                                               612                557            992              882
Interest                                                1,737              3,446          3,653            6,885
- ----------------------------------------------------------------------------------------------------------------
Income before the undernoted                            3,161              2,211          3,844            2,591

Foreign currency gain (loss)                              501                (24)           501              307
- ----------------------------------------------------------------------------------------------------------------
Income before income and mining tax recoveries          3,662              2,187          4,345            2,898
Income and mining tax recoveries                          302              1,707            508            1,920
- ----------------------------------------------------------------------------------------------------------------
Net income for the period                            $  3,360         $      480       $  3,837         $    978
================================================================================================================
Net income per share - basic and diluted (note 3)    $   0.05         $     0.01       $   0.06         $   0.02
================================================================================================================

Weighted average number of shares (in thousands)-
   basic                                               69,050             56,668         68,524           56,310
   diluted                                             80,546             64,030         80,021           63,674


Comprehensive income (loss):

Net Income for the period                            $  3,360         $      480       $  3,837         $    978
Other comprehensive loss:
   Unrealized loss on hedging activities, net of
     related income taxes                              (1,455)              --           (3,288)            --
   Cummulative transitional adjustment upon the
     adoption of FAS 133 related to the accounting
     for derivative instruments and hedging
     activities, net of related income taxes             --                 --             --             (1,785)
     ------------------------------------------------------------------------------------------------------------
Comprehensive income  for the period                 $  1,905         $      480       $    549         $   (807)
=================================================================================================================
</TABLE>
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                                       9
<PAGE>
<TABLE>
<CAPTION>



Interim Consolidated Statements of Deficit (Unaudited)            Agnico-Eagle Mines Limited
- --------------------------------------------------------------------------------------------
(thousands of United States dollars, US GAAP basis)             June 30,         December 31,
                                                                   2002                2001-
- ---------------------------------------------------------------------------------------------
                                                             (Unaudited)
<S>                                                           <C>                 <C>
Deficit
Balance, beginning of period                                  $  (197,220)        $  (190,465)
Net income (loss) for the period                                    3,837              (5,401)
Dividends declared                                                   --                (1,354)
- ----------------------------------------------------------------------------------------------
Balance, end of period                                        $  (193,383)        $  (197,220)
==============================================================================================


Accumulated other comprehensive loss
Balance, beginning of period                                  $   (15,576)        $   (13,791)
Other comprehensive loss for the period                            (3,288)             (1,785)
==============================================================================================
Balance, end of period                                        $   (18,864)        $   (15,576)
==============================================================================================
</TABLE>
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                                       10
<PAGE>
<TABLE>
<CAPTION>

Interim Consolidated Statements of Cash Flows (Unaudited)                                          Agnico-Eagle Mines Limited
- -----------------------------------------------------------------------------------------------------------------------------
(thousands of United States dollars, US GAAP basis)                   Three months ended June 30,   Six months ended June 30,
                                                                          2002             2001        2002             2001
- -----------------------------------------------------------------------------------------------------------------------------
<S>                                                                   <C>              <C>        <C>               <C>
Operating activities
Net income for the period                                             $   3,360        $     480   $   3,837         $     978
Add (deduct) items not affecting cash from operating activities:
Depreciation and amortization                                             3,678            3,145       6,929             6,526
Provision for (recoveries of) future income and mining taxes               --              1,745        --               2,756
Unrealized (gain) loss on derivative contracts                             --             (2,647)       --              (2,800)
Amortization of deferred interest and financing costs                       595              768       1,839             1,543
Other                                                                      --                643        --                 937
- ------------------------------------------------------------------------------------------------------------------------------
                                                                          7,633            4,134      12,605             9,940
Net change in non-cash working capital balances related to operations
Metals awaiting settlement and gold bullion                                (334)          (7,227)     (9,487)           (6,722)
Inventories                                                                 (52)           3,281         177              (663)
Prepaid expenses and other                                                2,487            1,467         313             1,374
Income and mining taxes                                                      54             (284)       (540)            2,084
Accounts payable and accrued liabilities                                  4,398           (3,307)      5,728            (6,058)
Interest payable                                                          1,681            1,118          14                (2)
- ------------------------------------------------------------------------------------------------------------------------------
Cash flows from (used in) operating activities                           15,867             (818)      8,810               (47)
- ------------------------------------------------------------------------------------------------------------------------------
Investing activities
Additions to mining properties                                          (15,202)          (7,454)    (29,454)          (17,055)
Decrease (increase) in investments and other                               (295)              29        (304)               35
- ------------------------------------------------------------------------------------------------------------------------------
Cash flows used in investing activities                                 (15,497)          (7,425)    (29,758)          (17,020)
- ------------------------------------------------------------------------------------------------------------------------------
Financing activities
Dividends paid                                                              (30)               2      (1,319)           (1,114)
Common shares issued                                                      7,338           82,251      12,564            83,016
Financing cost                                                             --             (5,373)     (5,266)           (5,373)
Proceeds from long-term debt                                               --               --       143,750             7,500
Repayment of the Company's senior convertible notes                        (198)            --      (122,169)             --
Resale of the Company's own shares held by a
   subsidiary company and other                                            --              4,831        --               6,397
   ---------------------------------------------------------------------------------------------------------------------------
Cash flows from financing activities                                      7,110           81,711      27,560            90,426
- ------------------------------------------------------------------------------------------------------------------------------
Effect of exchange rate changes on cash and cash equivalents                536             (224)        519                70
Net increase (decrease) in cash and cash equivalents                      8,016           73,244       7,131            73,429
Cash and cash equivalents, beginning of period                           20,295           14,091      21,180            13,906
- ------------------------------------------------------------------------------------------------------------------------------
Cash and cash equivalents, end of period                              $  28,311        $  87,335   $  28,311         $  87,335
==============================================================================================================================
Other operating cash flow information:
Interest paid during the period                                       $     530        $   1,477   $  19,242         $   5,262
==============================================================================================================================
Taxes paid (recovered) during the period                              $    (690)       $     317   $   2,639         $  (2,245)
===============================================================================================================================
</TABLE>
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                                       11
<PAGE>


                           AGNICO-EAGLE MINES LIMITED

  Notes to Interim Consolidated Financial Statements, US GAAP basis (Unaudited)

- --------------------------------------------------------------------------------

     1.   Basis of Presentation

          Prior  to  January  1,  2002,  the  Company's  consolidated  financial
          statements were prepared under Canadian generally accepted  accounting
          principles  ("Canadian  GAAP").  A  reconciliation  to  United  States
          generally accepted  accounting  principles ("US GAAP") is presented in
          Note 11 to the 2001 annual  consolidated  financial  statements.  As a
          result  of  its  substantial  US  shareholder  base  and  to  maintain
          comparability  with other  companies in the gold  sector,  the Company
          changed its primary basis of reporting to US GAAP effective January 1,
          2002.  Interim  consolidated  financial  statements  and  the  related
          management  discussion and analysis  prepared under Canadian GAAP will
          also  continue  to be prepared  for  statutory  reporting  purposes in
          Canada and sent to shareholders.

          The accompanying  unaudited interim consolidated  financial statements
          have been prepared in accordance  with US GAAP in US dollars.  They do
          not include all of the  disclosures  required  by  generally  accepted
          accounting principles for annual financial statements.  In the opinion
          of management, the unaudited interim consolidated financial statements
          reflect all  adjustments,  which  consist only of normal and recurring
          adjustments,  necessary to present  fairly the  financial  position at
          June 30,  2002 and the  results of  operations  and cash flows for the
          three and six month periods ended June 30, 2002 and 2001.

          Operating  results for the three and six month  periods ended June 30,
          2002  are  not  necessarily  indicative  of the  results  that  may be
          expected  for the full year ending  December  31,  2002.  Accordingly,
          these  unaudited  interim  financial  statements  should  be  read  in
          conjunction  with  the  fiscal  2001  annual  consolidated   financial
          statements,  including  the  accounting  policies  and notes  thereto,
          included in the Annual Report and Annual  Information  Form/Form  20-F
          for the year ended December 31, 2001.

     2.   Use of Estimates

          The preparation of the consolidated financial statements in conformity
          with generally accepted  accounting  principles requires management to
          make estimates and assumptions that affect the amounts reported in the
          consolidated  financial statements and accompanying notes.  Management
          believes  that  the  estimates   used  in  the   preparation   of  the
          consolidated financial statements are reasonable and prudent; however,
          actual results could differ from these estimates.

     3.   Capital Stock

          For the six-month period ended June 30, 2002,  weighted average number
          of shares for purposes of calculating  basic and diluted  earnings per
          share have been determined as follows (in thousands):

     Weighted average number of shares
      for purposes of calculating basic earnings per share      68,524    56,310
     Dilutive effect of employees stock options                  1,229       308
     Dilutive effect of the Company's convertible debentures    10,268     7,056
    ----------------------------------------------------------------------------
     Adjusted weighted average number of shares,
      for purposes of calculating diluted earnings per share     80,021   63,674
    ----------------------------------------------------------------------------


          The Company's 2012 convertible  debentures are  anti-dilutive and thus
          have not been included in the  calculation of  fully-diluted  earnings
          per share.

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                                       12
<PAGE>




- --------------------------------------------------------------------------------
                           AGNICO-EAGLE MINES LIMITED

  Notes to Interim Consolidated Financial Statements, US GAAP basis (Unaudited)

- --------------------------------------------------------------------------------

     3.   Capital Stock (continued)

          The following  table presents the maximum number of common shares that
          would be outstanding if all dilutive  instruments  outstanding at June
          30, 2002 were exercised:

          Common shares outstanding at June 30, 2002                  69,431,407
          Convertible debenture [based on debenture holders' option]  10,267,919
          Employees' stock options                                     3,575,200
          ----------------------------------------------------------------------
                                                                      83,274,526
          ======================================================================

          Issued and outstanding  capital  includes the advances to officers and
          directors of $0.4 million (2001 - $0.4 million).

          During the  six-month  period ended June 30, 2002,  1,628,500  (2001 -
          157,650)  employee  stock  options  were  exercised  for cash of $11.6
          million (2001 - $0.8 million).

          The  Company  accounts  for  its  stock-based  plan  under  Accounting
          Principles   Board  Opinion  25   "Accounting   for  Stock  Issued  to
          Employees",  which results in the recording of no compensation expense
          in Agnico-Eagle's circumstances.  On a pro forma basis under Financial
          Standards  Accounting  Board  ("FASB")  Statement  No.  123,  for  the
          six-month  period ended June 30, 2002, the Company would have reported
          net income of $2.7 million (2001 - $0.7 million),  after giving effect
          to the grants  subsequent to 1994. The weighted average exercise price
          of  options  granted  in 2002  amounted  to  C$16.14  per  share.  The
          estimated  fair value of the options is  amortized to expense over the
          options' vesting period, on a pro forma basis.

          Agnico-Eagle   estimated   the  fair  value  of   options   under  the
          Black-Scholes  option-pricing model and the following weighted average
          assumptions  using  a  risk  free  interest  rate  of  5.5%;  expected
          volatility of Agnico-Eagle's  share price of 32.4%;  expected dividend
          yield of 0.46% and an expected life of the options of 2 years.

          The  Black-Scholes  option-pricing  model  was  developed  for  use in
          estimating  the fair  value of traded  options  that  have no  vesting
          restrictions  and are fully  transferable.  As the Company's  employee
          stock options have characteristics  significantly different from those
          of  traded  options,  and  because  changes  in the  subjective  input
          assumptions,  such as expected  stock  market  price  volatility,  can
          materially  affect the fair value estimate,  in management's  opinion,
          the  existing  pricing  models do not  necessarily  provide a reliable
          single measure of the fair value of its employee stock options.

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                                       13
<PAGE>


- --------------------------------------------------------------------------------
                           AGNICO-EAGLE MINES LIMITED

  Notes to Interim Consolidated Financial Statements, US GAAP basis (Unaudited)

- --------------------------------------------------------------------------------


4.   Long-term debt

                                            March 31, 2002     December 31, 2001
      --------------------------------------------------------------------------
                                                 (Unaudited)

     Convertible debenture (note 4(a))     $         143,750    $            --
     Senior convertible notes (note 4(b))                --              121,081
     Revolving credit facility                        30,000              30,000
     ---------------------------------------------------------------------------
                                           $         173,750    $        151,081
     ===========================================================================

(a)  Convertible debentures

     On February 11, 2002,  Agnico-Eagle issued $143.75 million aggregate stated
     amount at maturity of convertible  debentures due February 11, 2012 for net
     proceeds of $138.5 million after  deducting  underwriting  commissions  and
     other issue costs totalled $5.3 million.  The  debentures  bear interest of
     4.50%  per annum  payable  in cash or in common  shares,  at the  Company's
     option,  semi-annually.  The debentures are convertible to common shares of
     Agnico-Eagle  at the  option  of the  holder,  at any  time on or  prior to
     maturity,  at a rate of 71.429 common shares per $1,000 stated amount.  The
     debentures are redeemable by the Company,  in whole or in part, at any time
     on or after February 15, 2006 for cash.

(b)  Senior convertible notes

     In February  2002,  the entire amount of the Company's  senior  convertible
     notes  was  called  for  redemption  on March  18,  2002 for cash of $120.9
     million. There is no gain or loss on the redemption of the Company's senior
     convertible notes.

5.   Recent Accounting Pronouncement

     Staff  Accounting  Bulletin  No.  74  released  by the  staff  of the  U.S.
     Securities and Exchange Commission ("SEC") requires  disclosures of certain
     information related to new accounting standards which have not been adopted
     due  to  delayed   effective  dates.  FAS  No.  143  on  "Asset  Retirement
     Obligations",  which is effective for financial  years beginning after June
     15, 2002, requires asset retirement obligations to be initially measured at
     fair value at the time the obligation is incurred.  A corresponding  amount
     is capitalized as part of the asset's  carrying amount and depreciated over
     the asset's useful life using a systematic and rational  allocation method.
     Agnico-Eagle  is currently  evaluating  the impact of adopting FAS No. 143.
     Effective  January 1, 2002, the Company  adopted FAS No. 144 on "Accounting
     for the  Impairment  of  Long-Lived  Assets",  which  sets  out  accounting
     criteria for the  determination  of impairment of  long-lived  assets.  The
     adoption of FAS No. 144 has no material  impact on the Company's  financial
     results.

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                                       14
<PAGE>

QUARTERLY MANAGEMENT DISCUSSION AND ANALYSIS
CANADIAN GAAP

Results of Operations

Agnico-Eagle Mines Limited reported second quarter net earnings of $3.9 million,
or $0.02 per share,  compared  to a loss of $1.1  million or $0.02 per share for
the same period in 2001.  For the six months ended June 30, 2002, net income was
$9.7 million,  or $0.10 per share,  compared to a loss of $1.4 million, or $0.02
per share for the same period in 2001.  Earnings  for the six months  ended June
30, 2002 included a net of tax gain of $8.7 million related to the redemption of
the Company's 2004 senior  convertible notes, of which $4.9 million was credited
directly  to  net   earnings  and  $3.8  million  was  credited  to  deficit  in
shareholders'  equity.  Second quarter operating cash flow was $10.1 million, or
$0.15 per share,  compared to $3.6 million,  or $0.06 per share in 2001. For the
six months ended June 30, 2002,  operating cash flow was $15.2 million, or $0.22
per share,  compared  to $9.5  million or $0.17 per share for the same period in
2001.

Excluding  the El Coco  royalty,  cash  costs to produce an ounce of gold in the
second quarter increased somewhat to $124 per ounce from $111 per ounce in 2001.
Total cash  operating  costs to produce an ounce of gold were $164  compared  to
$134 in the same  quarter of 2001. A gold  production  increase of 13% to 74,617
ounces was more than offset by lower zinc production and a substantially  weaker
zinc  price.  The  majority  of the net  difference  in  total  cash  costs  was
essentially  attributable  to royalties  payable on the El Coco property,  which
increased  from $23 per ounce in the second  quarter of 2001 to $40 per ounce of
gold  produced in 2002.  Cash costs for the six month period ended June 30, 2002
were $162 per once compared to $134 per once for the first six months of 2001.

Gold  production in 2002 is now forecast to be 320,000  ounces.  The decrease in
the gold  production  target  for the year  reflects  the  impact  of  delays in
development  in  Zone  20  North  at  depth  caused  by  delays  in  ventilation
installation.  As a result,  more  emphasis has been placed on  production  from
upper zinc/silver  parts of Zone 20 North.  This  re-sequencing of production is
expected  to push more gold  production  into 2003 and  result in  substantially
higher than budget zinc production in 2002. In addition,  an electrical  failure
of the SAG mill  drive  resulted  in 11 days of lost  production  in July.  As a
result of the lower than previously projected gold production,  a higher El Coco
royalty  due to the  increased  gold price and a weaker  than budget zinc price,
cash costs are  expected to be $145 per ounce for the full year  compared to the
original budget of $130 per ounce.

Liquidity and Capital Resources

At June 30, 2002, Agnico-Eagle's consolidated cash and cash equivalents amounted
to $28.3  million  while  working  capital  improved to $54.5 million from $42.6
million at December 31, 2001.  Including the undrawn  portion of its bank credit
facility, the Company has $123.3 million of available liquidity.

Cash flow from operating activities for the six months ended June 30, 2002
improved to $15.2 million from $9.5 million for the first six months of 2001.
Second quarter cash flow improved to $10.1 million from $3.6 million for the
second quarter of 2001. The increase in cash flow from continuing operations is
attributable to an increased gold price, higher gold production and lower
interest expense; offset somewhat by lower byproduct metal prices.

For the six months ended June 30, 2002, capital  expenditures were $29.5 million
compared to $17.1  million in the  corresponding  2001  period.  The increase is
attributable  to  increased  underground  development  and  the  mill  expansion
associated  with the decision to expand the LaRonde  operation to 7,000 tons per
day.
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                                       15
<PAGE>

Consolidated Balance Sheets                          Agnico-Eagle Mines Limited
- -------------------------------------------------------------------------------
(thousands of United States dollars,                 June 30,      December 31,
 Canadian GAAP basis)                                  2002              2001
- -------------------------------------------------------------------------------
                                                    (Unaudited)
ASSETS
Current
   Cash and cash equivalents                        $  28,311         $  21,180
   Metals awaiting settlement and gold bullion         29,567            21,009
   Income taxes recoverable                              --                 628
   Inventories:
     In-process and unsold products                     5,772             5,171
     Supplies                                           3,808             3,903
   Prepaid expenses and other                           4,882             5,235
- -------------------------------------------------------------------------------
Total current assets                                   72,340            57,126
Investments and other assets                           11,154            12,151
Future income and mining tax assets                    20,567            22,055
Mining properties                                     327,143           304,180
- -------------------------------------------------------------------------------
                                                    $ 431,204         $ 395,512
===============================================================================

LIABILITIES AND SHAREHOLDERS' EQUITY
Current
   Accounts payable and accrued liabilities         $  15,151         $   9,423
   Dividends payable                                      534             1,853
   Income and mining taxes payable                         63             1,231
   Interest payable                                     2,066             2,052
- -------------------------------------------------------------------------------
Total current liabilities                              17,814            14,559
- -------------------------------------------------------------------------------
Long-term debt                                         30,000           147,266
- -------------------------------------------------------------------------------
Reclamation provision and other liabilities             4,620             4,055
- -------------------------------------------------------------------------------
Future income and mining tax liabilities               19,022            18,317
- -------------------------------------------------------------------------------

Shareholders' Equity
Common shares
   Authorized - unlimited
   Issued - 69,431,407 (2001 - 67,722,853)            260,766           247,965
Convertible debentures , due 2012                      89,714              --
Other paid-in capital                                  55,028            14,521
Contributed surplus                                     5,566             5,560
Deficit                                               (51,326)          (56,731)
Total shareholders' equity                            359,748           211,315
- -------------------------------------------------------------------------------
                                                    $ 431,204         $ 395,512
===============================================================================

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                                       16
<PAGE>
<TABLE>
<CAPTION>



Consolidated Statements of Income (Unaudited)                                            Agnico-Eagle Mines Limited
- -------------------------------------------------------------------------------------------------------------------
(thousands of United States dollars,                  Three months ended June 30, Six months ended June 30,
except per share amounts, Canadian GAAP basis)                 2002        2001       2002        2001
- -------------------------------------------------------------------------------------------------------------------
<S>                                                         <C>         <C>         <C>         <C>
REVENUES
Revenues from mining operations                             $ 29,342    $ 28,799    $ 54,434    $ 49,591
Interest and sundry income                                       524         353         752         516
- --------------------------------------------------------------------------------------------------------
                                                              29,866      29,152      55,186      50,107
COSTS AND EXPENSES
Production                                                    19,181      20,688      36,533      32,760
Exploration                                                      894         913       1,643       1,886
Depreciation and amortization                                  3,677       2,958       6,489       5,744
General and administrative                                     1,498         989       2,499       2,059
Capital tax                                                      612         557         992         882
Interest                                                          65       3,860       1,990       7,726
Foreign currency loss                                           (176)        536        (176)        752
- --------------------------------------------------------------------------------------------------------
Income (loss) before the undernoted                            4,115      (1,349)      5,216      (1,702)
Gain on settlement of the Company's senior
   convertible debentures                                       --          --         6,184        --
- --------------------------------------------------------------------------------------------------------
Income (loss) before income and mining tax recoveries          4,115      (1,349)     11,400      (1,702)
Income and mining tax expense (recovery)                         222        (233)      1,729        (333)
- --------------------------------------------------------------------------------------------------------
Net income (loss) for the period                            $  3,893    $ (1,116)   $  9,671    $ (1,369)
========================================================================================================

Net income (loss) per share - basic and diluted (note 3)$       0.03    $  (0.02)   $   0.10    $  (0.02)
========================================================================================================

Weighted average number of shares (in thousands)-
   basic                                                      69,050      56,668      68,524      56,310
   diluted                                                    80,546      64,030      80,021      63,674



Consolidated Statements of Deficit (Unaudited)                                 Agnico-Eagle Mines Limited
- ---------------------------------------------------------------------------------------------------------
(thousands of United States dollars,                 Three months ended June 30, Six months ended June 30,
except per share amounts, Canadian GAAP basis)                2002         2001        2002        2001
- ---------------------------------------------------------------------------------------------------------

Deficit
Balance, beginning of period                               $(52,860)    $(37,133)   $(56,731)   $(36,880)
Net income (loss) for the period                              3,893       (1,116)      9,671      (1,369)
- --------------------------------------------------------------------------------------------------------
                                                            (48,967)     (38,249)    (47,060)    (38,249)

Interest costs associated with the Company's
   convertible debentures                                    (2,359)        --        (2,833)       --
Gain on settlement of the conversion option related to
   the Company's senior convertible notes, net of
   related taxes                                               --          3,833        --
Financing Costs                                                --         (5,373)     (5,266)     (5,373)
- --------------------------------------------------------------------------------------------------------
Balance, end of period                                      (51,326)     (43,622)    (51,326)    (43,622)
========================================================================================================
</TABLE>

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                                       17
<PAGE>
<TABLE>
<CAPTION>



Consolidated Statements of Cash Flows (Unaudited)                                 Agnico-Eagle Mines Limited
- ------------------------------------------------------------------------------------------------------------
(thousands of United States dollars,                    Three months ended June 30, Six months ended June 30,
except per share amounts, Canadian GAAP basis)                 2002         2001        2002          2001
- ------------------------------------------------------------------------------------------------------------

Operating activities
<S>                                                        <C>          <C>          <C>          <C>
Net income (loss) for the period                           $   3,893    $  (1,116)   $   9,671    $  (1,369)
Add (deduct) items not affecting cash:
   Depreciation and amortization                               3,677        2,958        6,489        5,744
   Future income and mining taxes                               --           (399)       1,300          937
   Gain on settlement of the Company's senior
     convertible notes                                          --           --         (6,184)        --
   Amortization of deferred interest and financing costs
     on long-term debt and other                               2,529        2,148        3,912        4,187
     ------------------------------------------------------------------------------------------------------
                                                              10,099        3,591       15,188        9,499
Net change in non-cash working capital balances:
   Metals awaiting settlement and gold buillon                   540       (6,515)      (8,558)      (5,686)
   Inventories                                                  (485)       2,712         (506)      (1,034)
   Prepaid expenses and other                                  2,489        1,013          353        2,283
   Accounts payable and accrued liabilities                    4,391       (3,310)       5,721       (6,067)
   Income and mining taxes recoverable and payable                54          573         (540)         960
   Interest payable                                            1,681        1,118           14           (2)
   ---------------------------------------------------------------------------------------------------------
Cash flows from (used in) operating activities                18,769         (818)      11,672          (47)
- ------------------------------------------------------------------------------------------------------------

Investing activities
Additions to mining properties                               (15,202)      (7,454)     (29,454)     (17,055)
Decrease (increase) in investments and other                    (324)          29         (333)          35
- -----------------------------------------------------------------------------------------------------------
Cash flows used in investing activities                      (15,526)      (7,425)     (29,787)     (17,020)
- ------------------------------------------------------------------------------------------------------------

Financing activities
Dividends paid                                                   (30)           2       (1,319)      (1,114)
Common shares issued                                           7,338       82,251       12,564       83,016
Financing cost                                                (2,873)      (5,373)      (8,099)      (5,373)
Proceeds from long-term debt                                    --           --        143,750        7,500
Repayment of the Company's senior convertible notes             (198)        --       (122,169)        --
Resale of the Company's own shares held by a
   subsidiary company and other                                 --          4,831         --          6,397
   --------------------------------------------------------------------------------------------------------
Cash flows from financing activities                           4,237       81,711       24,727       90,426
- -----------------------------------------------------------------------------------------------------------

Effect of exchange rate changes on cash
   and cash equivalents                                          536         (224)         519           70
Net increase (decrease) in cash and cash equivalents           8,016       73,244        7,131       73,429
Cash and cash equivalents, beginning of period                20,295       14,091       21,180       13,906
- -----------------------------------------------------------------------------------------------------------
Cash and cash equivalents, end of period                   $  28,311    $  87,335    $  28,311    $  87,335
===========================================================================================================

Other operating cash flow information:
Interest paid during the period                            $     530    $   1,477    $  19,242    $   5,262
===========================================================================================================
Taxes paid (recovered) during the period                   $    (690)   $     317    $   2,639    $  (2,204)
============================================================================================================
</TABLE>

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                                       18
<PAGE>
<TABLE>
<CAPTION>

- --------------------------------------------------------------------------------
                           AGNICO-EAGLE MINES LIMITED

               Notes to Interim Consolidated Financial Statements,
                        Canadian GAAP basis (Unaudited)

- --------------------------------------------------------------------------------


1.   Basis of Presentation

     The accompanying  unaudited interim consolidated  financial statements have
     been prepared by the Company in US dollars in accordance with Canadian GAAP
     with  respect  to  the  preparation  of  interim   financial   information.
     Accordingly,  they do not include all information and footnotes as required
     in the  preparation  of annual  financial  statements and should be read in
     conjunction with the audited financial statements and notes included in the
     Annual Information Form/Form 20-F for the year ended December 31, 2001.


     The preparation of the consolidated financial statements in conformity with
     generally  accepted  accounting  principles  requires  management  to  make
     estimates  and  assumptions   that  affect  the  amounts  reported  in  the
     consolidated  financial  statements  and  accompanying  notes.   Management
     believes that the estimates  used in the  preparation  of the  consolidated
     financial  statements are reasonable and prudent;  however,  actual results
     could differ from these estimates.

     Operating  results for the three and six month  periods ended June 30, 2002
     are not necessarily  indicative of the results that may be expected for the
     full year ending December 31, 2002.  Accordingly,  these unaudited  interim
     financial  statements  should be read in  conjunction  with the fiscal 2001
     annual consolidated financial statements, including the accounting policies
     and notes  thereto,  included in the Annual  Report and Annual  Information
     Form/Form 20-F for the year ended December 31, 2001.

2.   Use of Estimates

     The  preparation  of  the  interim  consolidated  financial  statements  in
     conformity  with  generally   accepted   accounting   principles   requires
     management  to make  estimates  and  assumptions  that  affect the  amounts
     reported in the interim consolidated  financial statements and accompanying
     notes.  Management  believes that the estimates used in the  preparation of
     the interim  consolidated  financial statements are reasonable and prudent;
     however, actual results could differ from these estimates.

3.   Net income per share

     For the purposes of  calculating  earnings per share,  the Company uses net
     income after deducting  interest  charges on the Company's 2012 convertible
     debentures.  The 2012 convertible debenture issued in 2002 is presented, in
     its entirety,  as an equity instrument and as such the interest is recorded
     as a direct charge to retained  earnings.  Below is a reconciliation of net
     income per  financial  statements  to the net income used in computing  net
     income per share.

                                                   Three months ended Six months ended
                                                     June 30, 2002    June 30, 2002
                                                     --------------------------------

<S>                                                     <C>                   <C>
Net income, per financial statements                    $ 3,893               $ 9,671
Less:  Interest on 2012 convertible debenture charged
       Directly to retained earnings                     (2,359)               (2,833)
                                                      -------------------------------
</TABLE>
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                                       19
<PAGE>

     Net income used in the  computation of net income per share $ 1,534 $ 6,838
     The Company's 2012 convertible  debentures are  anti-dilutive and thus have
     not been included in the computation of fully-diluted net income per share.

4.   Reconciliation of United States and Canadian GAAP

     The consolidated financial statements have been prepared in accordance with
     Canadian  GAAP,  which  differ in  certain  material  respects  from  those
     principles and practices that the Company has followed in its US GAAP basis
     consolidated financial statements. Some of the more significant differences
     between  Canadian  and US  GAAP  that  impact  the  consolidated  financial
     statements are as follows:

(a)  Under US GAAP,  the  Company's  unsold  dore gold and silver are carried at
     cost as opposed to net realizable value, as permitted under Canadian GAAP.

(b)  Effective  January  1,  1999,  Agnico-Eagle  adopted  the US  dollar as its
     principal  currency of  measurement.  Prior to this  change,  the  Canadian
     dollar  had been  used as the  reporting  currency.  Under  US GAAP,  prior
     period's consolidated financial statements were translated to US dollars by
     the current rate method using the year end or the annual  average  exchange
     rate where  appropriate.  This  translation  approach has been applied from
     January 1, 1994. Under Canadian GAAP, Agnico-Eagle's consolidated financial
     statements  for all  periods up to December  31, 1998 have been  translated
     into US dollars  using the closing spot  Canadian  and US exchange  rate of
     $1.5333.  The use of different  exchange  rates and the different  adoption
     dates  for US and  Canadian  GAAP  purposes  gave  rise to a $14.0  million
     deficit in the  cumulative  translation  adjustment  account within US GAAP
     shareholders' equity as at June 30, 2002 and 2001.

(c)  Under Canadian GAAP,  Agnico-Eagle  presents the 2012 convertible debenture
     issued in 2002, in its entirety, as an equity instrument. The fair value of
     the conversion option  associated with the senior  convertible notes on the
     date of issuance  was $55.0  million  and is  reflected  as "Other  paid-in
     capital".  The fair value of  Agnico-Eagle's  obligation to the convertible
     debenture  holders for the principle  payments,  at the time of issuance of
     $88.75 million, together with any accrued deferred interest is reflected as
     a  long-term  liability,  carried at  amortized  cost and is  included as a
     component  of   shareholders'   equity.   Interest  costs  related  to  the
     convertible  debentures are charged to retained  earnings as incurred,  but
     are included as a component of the  Company's  net earnings for purposes of
     calculating earnings per share under Canadian GAAP.

     Also,$5.3  million of financing costs  associated with the 2012 convertible
     debentures,  which is accounted  for as deferred  financing  costs under US
     GAAP has been charged against retained earnings under Canadian GAAP.

     In March 2002,  the Company  redeemed the entire amount of the  outstanding
     2004 senior  convertible  notes for cash of $120.9 million.  Under Canadian
     GAAP, this transaction  resulted in a gain of $8.7 million,  net of related
     income taxes of $2.2 million,  of which $3.8 million (related taxes of $0.9
     million) was credited to deficit and $4.9  million  (related  taxes of $1.3
     million) was recognized in earnings.

(d)  Under US GAAP,  amortization of mining  properties,  other than the milling
     facilities at the LaRonde Mine, is calculated using the  unit-of-production
     basis using only the proven and probable reserves of the mine. Depreciation
     of the  milling  facilities  at the  LaRonde  Mine  is  determined,  net of
     residual  value,  using the  straight-line  method  based on the  estimated
     useful lives of the assets,  which does not exceed 20 years. Under Canadian
     GAAP,  the  amortization  of  mining  properties  is  calculated  using the
     unit-of-production  basis  using  the  proven  and  probable  reserves  and
     non-reserve  material of the mine when sufficient objective evidence exists
     to support a conclusion that is probable that the non-reserve material will
     be produced.

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                                       20
<PAGE>


(e)  Agnico-Eagle  enters into financial  instruments with a number of financial
     institutions  in order  to  hedge  underlying  revenue  and cost  exposures
     arising from commodity prices, interest rates and foreign currency exchange
     rates. In particular, the Company uses over-the-counter put and call option
     metals and foreign  exchange  contracts  to hedge  against its net revenues
     from  mining  operations  and its costs of  production,  respectively.  For
     fiscal years up to December 31, 2000,  unrealized gains and losses on these
     contracts were included in the  determination  of income with the exception
     of the gold puts  purchased  which are  accounted for as a component of the
     related hedged transaction under US GAAP.

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                                       21
<PAGE>


     Effective  January  1,  2001,  for  the  purposes  of  preparing  financial
     information in accordance with US GAAP, the Company  prospectively  adopted
     the new  accounting  recommendations  made under FAS No. 133 and No. 137 on
     accounting  for  derivative  financial  instruments  and  hedging.  The new
     accounting  recommendations  require  that all  derivative  instruments  be
     recognized  as assets or  liabilities  and be measured  at fair value.  The
     accounting for changes in the fair value of a derivative instrument depends
     on  whether  it has been  designated  and  qualifies  as part of a  hedging
     relationship.  FAS 133  establish  certain  criteria  to be met in order to
     designate  a  derivative  instrument  as a hedge  and to  deem a  hedge  as
     effective. In 2001, none of Agnico-Eagle's derivative financial instruments
     qualified as designated hedges under FAS 133.

     Effective  January  1,  2002,  for  the  purposes  of  preparing  financial
     information  in  accordance  with US GAAP,  Agnico-Eagle  implemented a new
     treasury  management  system  that  complies  with  the  new  documentation
     requirements  for hedge  accounting  under FAS 133 for its gold  puts.  All
     other hedge contracts do not qualify for hedge accounting under FAS 133.

     Under Canadian GAAP, gains and losses on derivative  financial  instruments
     are accounted for as a component of the related hedged  transaction.  Prior
     to October 24, 2000, net option premiums paid or received were deferred and
     included  in the  consolidated  balance  sheets  as other  assets  or other
     liabilities.  These  items were  recognized  in  earnings  when the related
     hedging transactions  occurred. In the event of early settlement of hedging
     transactions,  gains or losses were deferred and  recognized in earnings at
     the delivery dates originally designated. Where the underlying transactions
     were no longer  expected  to occur,  with the effect that a hedge no longer
     existed,  unrealized  gains or losses  were  recognized  in earnings at the
     point such  determination  was made.  After October 24, 2000,  Agnico-Eagle
     prospectively  adopted  the new  accounting  recommendations  issued by the
     Emerging   Issues   Committee  of  The  Canadian   Institute  of  Chartered
     Accountants  ("CICA") on the "Accounting by commodity producers for written
     call options".  Under this basis of  accounting,  net premiums and the fair
     value of all call options  written after October 24, 2000 are recognized in
     earnings. The adoption of this new accounting standard has no impact on the
     existing  accounting  policy on the Company's  current and future purchased
     put option transactions.


(f)  US GAAP requires that cumulative share issue costs of $18.6 million in 2002
     and 2001 be  recorded as a  reduction  of  proceeds  of issue  instead of a
     charge to the deficit account as has been done under Canadian GAAP.

(g)  Canadian  GAAP allows for the  reduction of stated  capital of  outstanding
     common   shares   with   a   corresponding   offset   to   deficit.    This
     reclassification, which Agnico-Eagle made in 1998 and prior to 1995, is not
     permitted by US GAAP and would result in an increase in both capital  stock
     and deficit of $159.2 million in 2002 and 2001.








</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>agnico6kex9910802.txt
<DESCRIPTION>CERTIFICATION OF REPORT
<TEXT>
                             CERTIFICATION OF REPORT
                             -----------------------

I, Sean  Boyd,  President  and Chief  Executive  Officer of  Agnico-Eagle  Mines
Limited (the "Company"),  certify, pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, 18 U.S.C. Section 1350, that:

(1)  the Report on Form 6-K of the Company for the  quarterly  period ended June
     30, 2002 (the  "Report")  fully complies with the  requirements  of Section
     13(a) or 15(d) of the  Securities  Exchange  Act of 1934 (15 U.S.C.  78m or
     78o(d)) applicable to foreign private issuers; and

(2)  the information  contained in the Report fairly  presents,  in all material
     respects, the financial condition and results of operations of the Company.

No  purchaser  or  seller  of  securities  shall be  entitled  to rely  upon the
foregoing certification for any purpose, and the undersigned expressly disclaims
any obligation to update the foregoing  certification  except as may be required
by law.

Dated:  August 06, 2002



                                                        /s/ Sean Boyd
                                                        ------------------------
                                                        Sean Boyd, President and
                                                        Chief Executive Officer


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>agnico6kex9920802.txt
<DESCRIPTION>CERTIFICATION OF REPORT
<TEXT>

                             CERTIFICATION OF REPORT
                             -----------------------

I, David Garofalo, Vice President, Finance and Chief Financial Officer of
Agnico-Eagle Mines Limited (the "Company"), certify, pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

(3)  the Report on Form 6-K of the Company for the  quarterly  period ended June
     30, 2002 (the  "Report")  fully complies with the  requirements  of Section
     13(a) or 15(d) of the  Securities  Exchange  Act of 1934 (15 U.S.C.  78m or
     78o(d)) applicable to foreign private issuers; and

(4)  the information  contained in the Report fairly  presents,  in all material
     respects, the financial condition and results of operations of the Company.

No  purchaser  or  seller  of  securities  shall be  entitled  to rely  upon the
foregoing certification for any purpose, and the undersigned expressly disclaims
any obligation to update the foregoing  certification  except as may be required
by law.

Dated:  August 06, 2002



                                                         /s/ David Garfalo
                                                         -----------------------
                                                         David Garofalo, Vice
                                                         President, Finance and
                                                         Chief Financial Officer

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
