All right, good morning, everyone. We will continue to just keep things rolling. My name is Jay Basal [id] from Wall Street Analyst Forum. And I will be the host for the rest of the day. At this time, I would ask anyone with a mobile phone or mobile device to switch to a position in the inactive or idle for the presentation and not in accordance with the University Club's mobile phone policy. And after the presentation, you can join with us in the breakout rooms, and in the adjacent room for Q & A.
And this day is a presenter Agnico-Eagle Mines Limited and they are the company's international growth, with a focus on gold in Quebec and Finland and the basic and advanced project opportunities in Canada, Mexico, Finland and the United States. They LaRonde mine in Quebec is Canada's largest operating gold mine. In terms of reserves, the mine produced strong earnings and cash flow which is very good and is the foundation for international expansion Agnico.
So without a noise, I will give David Smith, who is Vice President of Investor Relations.
David Smith
Thanks very much, Jay. And thank you, Ladies and Gentlemen, to this day come to hear the presentation on Agnico-Eagle. I feel very interesting that we talk after a real estate investment company, that seems to be a very conservative company, has a long history and operations that really is very similar to Agnico-Eagle.
Agnico-Eagle has been around for 52 years and is a very conservative company. W.P. Carey's Annual Report as we have seen turtles and rabbits in the future. We are also thinking about ourselves as a turtle forthright. In fact, recently issued a Canadian business magazine has been our CEO a turtle race and even beat him with the turtle and for those of you who want to know.
I will certainly covered by the forward-looking statements. Gold is in a position that is very interesting today. We have put some quotes here interesting in the fourth. This is our Annual Reports from 1999 and I really have hit back home that even 10 years later, we still believe that gold is very strong for each person's portfolio. Of course gold is money and I think there may be several generations of North America are sure that gold is money.
I think unfortunately we will remember for many years. Of course Europe, you go to Switzerland and speak with them, and Switzerland does not need to be sure that there is a place for gold in the portfolio. We certainly believe in Agnico is very strong in the future for gold.
I see the gold is actually quite simple. I think that the speed of money clearly a cliff fall, but has provided money through the roof. At some point in the future, in the next few years, I believe that the velocity of money will naturally rebound to more normalized rate, and I believe that that will take inflation with it. And in an inflationary environment, gold is usually done very well.
Slide five really - really the company's strategy for Agnico. We are a conservative company, but we're very focused on the evaluation per share. We really have no interest in becoming a larger company only for the sake of the greater. Surely there are some - some of our competitors may charge that some of them only get bigger for the sake of the greater, but not one of Agnico company. And return to the tortoise and the hare analogy, of course that has been around 52 years old and still truly midsized companies at this point, I do not think you can really accuse us of.to find more just visit : www.seekingalpha.com
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