Agnico Eagle Mines

-7.0%

Live  

Agnico Eagle Mines Limited is a Canadian gold mining company founded in 1953. It is headquartered in Toronto, Ontario. The company is primarily engaged in the exploration, development, and production of gold, with operations in Canada, Finland, and Mexico, as well as exploration interests in the United States and other countries.
Agnico Eagle operates several gold mines, including the LaRonde, Malartic, and Kittila mines, among others. The company’s mining strategy is focused on optimizing its existing operations and expanding its mineral reserves through exploration. Agnico Eagle is known for its commitment to sustainability and responsible mining practices, often emphasizing environmental stewardship, community engagement, and worker safety.
The company’s shares are listed on the Toronto Stock Exchange and the New York Stock Exchange, making it a notable player in the global mining sector. Agnico Eagle has a reputation for strong financial performance and has consistently focused on maintaining a robust pipeline of projects to support long-term growth.

QWduaWNvIE VhZ2xlIE1p bmVzIGlzIG EgY29tcGFu eSB0aGF0IG RpZ3MgZGVl cCBpbnRvIH RoZSBFYXJ0 aCB0byBmaW 5kIGdvbGQg YW5kIG90aG VyIG1ldGFs cy4gVGhpbm sgb2YgaXQg bGlrZSB0cm Vhc3VyZSBo dW50aW5nLC BidXQgaW5z dGVhZCBvZi BwaXJhdGVz IGxvb2tpbm cgZm9yIGdv bGQgY29pbn MsIEFnbmlj byBFYWdsZS BoYXMgYmln IG1hY2hpbm VzIGFuZCBh IGxvdCBvZi B3b3JrZXJz IHdobyBzZW FyY2ggZm9y IGdvbGQgaW 4gdGhlIGdy b3VuZC48Yn I+SGVyZeKA mXMgaG93IH RoZXkgbWFr ZSBtb25leT ogV2hlbiB0 aGV5IGZpbm QgZ29sZCwg dGhleSBjYW 4gc2VsbCBp dCBmb3IgYS Bsb3Qgb2Yg bW9uZXkuIE dvbGQgaXMg cmVhbGx5IH ZhbHVhYmxl IGFuZCBwZW 9wbGUgd2Fu dCBpdCBmb3 IgdGhpbmdz IGxpa2Ugam V3ZWxyeSwg ZWxlY3Ryb2 5pY3MsIGFu ZCBhcyBhbi BpbnZlc3Rt ZW50LiBTby wgd2hlbiBB Z25pY28gRW FnbGUgZ2V0 cyBnb2xkIG Zyb20gdGhl aXIgbWluZX MsIHRoZXkg c2VsbCBpdC B0byBidXll cnMgYW5kIG Vhcm4gcHJv Zml0IGZyb2 0gdGhhdC48 YnI+QWduaW NvIEVhZ2xl IGlzIHN1Y2 Nlc3NmdWwg YmVjYXVzZS B0aGV5IGhh dmUgYmVlbi Bkb2luZyB0 aGlzIGZvci BhIGxvbmcg dGltZSBhbm QgdGhleSBr bm93IGhvdy B0byBmaW5k IGdvbGQgZW ZmaWNpZW50 bHkgYW5kIH NhZmVseS4g VGhleSBhbH NvIGludmVz dCBpbiB0ZW Nobm9sb2d5 IGFuZCBnb2 9kIHByYWN0 aWNlcyB0by BtYWtlIHN1 cmUgdGhleS BhcmUgc3Vj Y2Vzc2Z1bC BpbiB0aGVp ciBtaW5pbm cgZWZmb3J0 cy4gUGx1cy wgdGhleSBh cmUgY2FyZW Z1bCBhYm91 dCB0YWtpbm cgY2FyZSBv ZiB0aGUgZW 52aXJvbm1l bnQsIHdoaW NoIGhlbHBz IHRoZW0ga2 VlcCB0aGVp ciBidXNpbm Vzc2VzIHJ1 bm5pbmcgc2 1vb3RobHku PGJyPkxvb2 tpbmcgdG8g dGhlIGZ1dH VyZSwgQWdu aWNvIEVhZ2 xlIHdpbGwg bGlrZWx5IG NvbnRpbnVl IHRvIGJlIH N1Y2Nlc3Nm dWwgYmVjYX VzZSBkZW1h bmQgZm9yIG dvbGQgaXMg ZXhwZWN0ZW QgdG8gc3Rh eSBzdHJvbm cuIFBlb3Bs ZSB3aWxsIG Fsd2F5cyB3 YW50IGdvbG QgZm9yIGRp ZmZlcmVudC ByZWFzb25z LCBhbmQgYX MgcG9wdWxh dGlvbnMgZ3 JvdywgdGhl IG5lZWQgZm 9yIHJlc291 cmNlcyBsaW tlIGdvbGQg d2lsbCBjb2 50aW51ZS4g VGhlIGNvbX BhbnkgaXMg YWxzbyB3b3 JraW5nIG9u IG5ldyBwcm 9qZWN0cyBh bmQgZXhwbG 9yaW5nIG5l dyBhcmVhcy B0byBmaW5k IG1vcmUgZ2 9sZCwgd2hp Y2ggd2lsbC BoZWxwIHRo ZW0ga2VlcC BtYWtpbmcg bW9uZXkuIF NvLCB0aGV5 IGhhdmUgYS Bnb29kIHBs YW4gdG8gc3 RheSBzdWNj ZXNzZnVsIG luIHRoZSB5 ZWFycyB0by Bjb21lITxi cj4=

QWduaWNvIE VhZ2xlIE1p bmVzIGlzIG 5vdGFibGUg Zm9yIHNldm VyYWwgcmVh c29uczo8Yn I+MS4gPHN0 cm9uZz5Mb2 5nIEhpc3Rv cnk8L3N0cm 9uZz46IEZv dW5kZWQgaW 4gMTk1Mywg QWduaWNvIE VhZ2xlIGhh cyBhIHJpY2 ggaGlzdG9y eSBpbiB0aG UgbWluaW5n IGluZHVzdH J5LCBldm9s dmluZyBvdm VyIGRlY2Fk ZXMgdG8gYm Vjb21lIGEg c2lnbmlmaW NhbnQgcGxh eWVyIGluIG dvbGQgbWlu aW5nLjxicj 4yLiA8c3Ry b25nPkZvY3 VzIG9uIEdv bGQgUHJvZH VjdGlvbjwv c3Ryb25nPj ogVGhlIGNv bXBhbnnigJ lzIHByaW1h cnkgZm9jdX MgaXMgb24g Z29sZCwgYW 5kIGl0IGlz IGtub3duIG ZvciBpdHMg Y29tbWl0bW VudCB0byBo aWdoLXF1YW xpdHkgcHJv ZHVjdGlvbi BhbmQgc3Vz dGFpbmFibG UgbWluaW5n IHByYWN0aW Nlcy4gQWdu aWNvIEVhZ2 xlIGlzIHJl Y29nbml6ZW QgZm9yIGl0 cyBleHBsb3 JhdGlvbiBh bmQgcHJvZH VjdGlvbiBv ZiBnb2xkIG luIE5vcnRo IEFtZXJpY2 EuPGJyPjMu IDxzdHJvbm c+R2VvZ3Jh cGhpYyBQcm VzZW5jZTwv c3Ryb25nPj ogQWduaWNv IEVhZ2xlIG 9wZXJhdGVz IGluIGtleS BtaW5pbmcg ZGlzdHJpY3 RzIGluIENh bmFkYSwgRm lubGFuZCwg YW5kIE1leG ljbywgZ2l2 aW5nIGl0IG EgZGl2ZXJz ZSBnZW9ncm FwaGljIGZv b3RwcmludC BhbmQgYWNj ZXNzIHRvIG 11bHRpcGxl IG1pbmluZy BvcHBvcnR1 bml0aWVzLj xicj40LiA8 c3Ryb25nPl N0cm9uZyBG aW5hbmNpYW wgUGVyZm9y bWFuY2U8L3 N0cm9uZz46 IFRoZSBjb2 1wYW55IGhh cyBjb25zaX N0ZW50bHkg ZGVtb25zdH JhdGVkIHN0 cm9uZyBmaW 5hbmNpYWwg cmVzdWx0cy wgd2l0aCBh IHNvbGlkIH RyYWNrIHJl Y29yZCBvZi Bwcm9maXRh YmlsaXR5IG FuZCBlZmZl Y3RpdmUgY2 9zdCBtYW5h Z2VtZW50Lj xicj41LiA8 c3Ryb25nPl N1c3RhaW5h YmxlIFByYW N0aWNlczwv c3Ryb25nPj ogQWduaWNv IEVhZ2xlIG lzIGNvbW1p dHRlZCB0by BzdXN0YWlu YWJpbGl0eS BhbmQgaGFz IGltcGxlbW VudGVkIHZh cmlvdXMgZW 52aXJvbm1l bnRhbCBhbm Qgc29jaWFs IGdvdmVybm FuY2UgKEVT RykgaW5pdG lhdGl2ZXMs IGVtcGhhc2 l6aW5nIHJl c3BvbnNpYm xlIG1pbmlu ZyBhbmQgY2 9tbXVuaXR5 IGVuZ2FnZW 1lbnQuPGJy PjYuIDxzdH Jvbmc+RXhw bG9yYXRpb2 4gYW5kIEdy b3d0aDwvc3 Ryb25nPjog VGhlIGNvbX BhbnkgaXMg YWN0aXZlbH kgZW5nYWdl ZCBpbiBleH Bsb3JhdGlv biB0byBpZG VudGlmeSBu ZXcgcmVzb3 VyY2VzIGFu ZCBleHBhbm QgaXRzIG1p bmluZyBvcG VyYXRpb25z LCB3aGljaC Bjb250cmli dXRlcyB0by BpdHMgZ3Jv d3RoIHBvdG VudGlhbC48 YnI+Ny4gPH N0cm9uZz5E aXZpZGVuZC BQYXltZW50 czwvc3Ryb2 5nPjogQWdu aWNvIEVhZ2 xlIGlzIGtu b3duIGZvci ByZXR1cm5p bmcgdmFsdW UgdG8gc2hh cmVob2xkZX JzIHRocm91 Z2ggcmVndW xhciBkaXZp ZGVuZCBwYX ltZW50cywg cmVmbGVjdG luZyBpdHMg ZmluYW5jaW FsIHN0YWJp bGl0eSBhbm QgY29tbWl0 bWVudCB0by BzaGFyZWhv bGRlciByZX R1cm5zLjxi cj5UaGVzZS BmYWN0b3Jz IGNvbnRyaW J1dGUgdG8g QWduaWNvIE VhZ2xlIE1p bmVz4oCZIH JlcHV0YXRp b24gYXMgYS ByZXNwZWN0 ZWQgYW5kIH N1Y2Nlc3Nm dWwgY29tcG FueSBpbiB0 aGUgZ2xvYm FsIG1pbmlu ZyBpbmR1c3 RyeS48YnI+

QWduaWNvIE VhZ2xlIE1p bmVzIExpbW l0ZWQgb3Bl cmF0ZXMgcH JpbWFyaWx5 IGluIHRoZS BtaW5pbmcg c2VjdG9yLC Bmb2N1c2lu ZyBvbiB0aG UgZXhwbG9y YXRpb24sIG RldmVsb3Bt ZW50LCBhbm QgcHJvZHVj dGlvbiBvZi BwcmVjaW91 cyBtZXRhbH MsIHBhcnRp Y3VsYXJseS Bnb2xkLiBI ZXJlIGFyZS BrZXkgY29t cG9uZW50cy BvZiBpdHMg YnVzaW5lc3 MgbW9kZWw6 PGJyPjEuID xzdHJvbmc+ RXhwbG9yYX Rpb24gYW5k IERldmVsb3 BtZW50PC9z dHJvbmc+Oi BUaGUgY29t cGFueSBpbn Zlc3RzIHNp Z25pZmljYW 50bHkgaW4g ZXhwbG9yYX Rpb24gdG8g ZGlzY292ZX IgbmV3IG1p bmVyYWwgZG Vwb3NpdHMg YW5kIGV4cG FuZCBleGlz dGluZyByZX NvdXJjZXMu IFRoaXMgaW 5jbHVkZXMg Z2VvbG9naW NhbCBzdXJ2 ZXlzLCBkcm lsbGluZywg YW5kIGZlYX NpYmlsaXR5 IHN0dWRpZX MgdG8gYXNz ZXNzIHRoZS B2aWFiaWxp dHkgb2YgcG 90ZW50aWFs IG1pbmluZy Bwcm9qZWN0 cy48YnI+Mi 4gPHN0cm9u Zz5NaW5pbm cgT3BlcmF0 aW9uczwvc3 Ryb25nPjog QWduaWNvIE VhZ2xlIG9w ZXJhdGVzIH NldmVyYWwg bWluZXMsIH ByZWRvbWlu YW50bHkgaW 4gQ2FuYWRh LCBGaW5sYW 5kLCBhbmQg TWV4aWNvLi BUaGUgY29t cGFueSB1c2 VzIGJvdGgg dW5kZXJncm 91bmQgYW5k IG9wZXBpdC BtaW5pbmcg dGVjaG5pcX VlcywgYWlt aW5nIHRvIG 9wdGltaXpl IHByb2R1Y3 Rpb24gZWZm aWNpZW5jeS BhbmQgcmVk dWNlIGNvc3 RzLjxicj4z LiA8c3Ryb2 5nPlN1c3Rh aW5hYmlsaX R5IGFuZCBF bnZpcm9ubW VudGFsIFJl c3BvbnNpYm lsaXR5PC9z dHJvbmc+Oi BBZ25pY28g RWFnbGUgcH Jpb3JpdGl6 ZXMgc3VzdG FpbmFibGUg cHJhY3RpY2 VzIGluIGl0 cyBvcGVyYX Rpb25zLCBm b2N1c2luZy BvbiBtaW5p bWl6aW5nIG Vudmlyb25t ZW50YWwgaW 1wYWN0LCBl bnN1cmluZy ByZXNwb25z aWJsZSB3YX RlciBhbmQg d2FzdGUgbW FuYWdlbWVu dCwgYW5kIG VuZ2FnaW5n IHdpdGggbG 9jYWwgY29t bXVuaXRpZX MuPGJyPjQu IDxzdHJvbm c+RGl2ZXJz aWZpY2F0aW 9uIG9mIEFz c2V0czwvc3 Ryb25nPjog VGhlIGNvbX BhbnkgbWFp bnRhaW5zIG EgZGl2ZXJz aWZpZWQgcG 9ydGZvbGlv IG9mIG1pbm luZyBhc3Nl dHMsIHJlZH VjaW5nIHJp c2tzIGFzc2 9jaWF0ZWQg d2l0aCBmbH VjdHVhdGlv bnMgaW4gZ2 9sZCBwcmlj ZXMgYW5kIG dlb3BvbGl0 aWNhbCBmYW N0b3JzLiBU aGlzIGRpdm Vyc2lmaWNh dGlvbiBpbm NsdWRlcyBv cGVyYXRpb2 5zIGluIGRp ZmZlcmVudC ByZWdpb25z IHdpdGggdm FyeWluZyBn ZW9sb2dpY2 FsIGNoYXJh Y3RlcmlzdG ljcy48YnI+ NS4gPHN0cm 9uZz5Db3N0 IE1hbmFnZW 1lbnQ8L3N0 cm9uZz46IE FnbmljbyBF YWdsZSBlbX BoYXNpemVz IGNvc3QgY2 9udHJvbCBh bmQgb3Blcm F0aW9uYWwg ZWZmaWNpZW 5jeS4gQnkg b3B0aW1pem luZyBwcm9j ZXNzZXMsIH JlZHVjaW5n IGVuZXJneS Bjb25zdW1w dGlvbiwgYW 5kIG1hbmFn aW5nIGxhYm 9yIGNvc3Rz LCB0aGUgY2 9tcGFueSBh aW1zIHRvIG VuaGFuY2Ug aXRzIHByb2 ZpdGFiaWxp dHkgZXZlbi BpbiB2b2xh dGlsZSBtYX JrZXQgY29u ZGl0aW9ucy 48YnI+Ni4g PHN0cm9uZz 5TdHJhdGVn aWMgQWNxdW lzaXRpb25z IGFuZCBQYX J0bmVyc2hp cHM8L3N0cm 9uZz46IEFn bmljbyBFYW dsZSBvZnRl biBzZWVrcy B0byBncm93 IHRocm91Z2 ggc3RyYXRl Z2ljIGFjcX Vpc2l0aW9u cyBvZiBleH Bsb3JhdGlv biBwcm9qZW N0cyBvciBv cGVyYXRpb2 5hbCBtaW5l cywgYWxsb3 dpbmcgaXQg dG8gcXVpY2 tseSBleHBh bmQgaXRzIH Jlc291cmNl IGJhc2UgYW 5kIHByb2R1 Y3Rpb24gY2 FwYWNpdHku PGJyPjcuID xzdHJvbmc+ TWFya2V0IE ZvY3VzPC9z dHJvbmc+Oi BUaGUgY29t cGFueSBwcm ltYXJpbHkg Zm9jdXNlcy BvbiBnb2xk LCBidXQgaX QgbWF5IGFs c28gZXhwbG 9yZSBvcHBv cnR1bml0aW VzIGluIG90 aGVyIHByZW Npb3VzIGFu ZCBiYXNlIG 1ldGFscyB0 byBmdXJ0aG VyIGRpdmVy c2lmeSBpdH MgcmV2ZW51 ZSBzdHJlYW 1zLjxicj44 LiA8c3Ryb2 5nPkZpbmFu Y2lhbCBNYW 5hZ2VtZW50 PC9zdHJvbm c+OiBBZ25p Y28gRWFnbG UgcHJhY3Rp Y2VzIHBydW RlbnQgZmlu YW5jaWFsIG 1hbmFnZW1l bnQsIG1haW 50YWluaW5n IGEgc3Ryb2 5nIGJhbGFu Y2Ugc2hlZX QgYW5kIGVu c3VyaW5nIG FjY2VzcyB0 byBjYXBpdG FsIGZvciBm dXR1cmUgcH JvamVjdHMs IHdoaWNoIH N1cHBvcnRz IGl0cyBvbm dvaW5nIG9w ZXJhdGlvbn MgYW5kIGdy b3d0aCBzdH JhdGVnaWVz Ljxicj5Pdm VyYWxsLCBB Z25pY28gRW FnbGUgTWlu ZXMgYWltcy B0byBjcmVh dGUgbG9uZy 10ZXJtIHZh bHVlIGZvci BpdHMgc2hh cmVob2xkZX JzIHRocm91 Z2ggZWZmaW NpZW50IG9w ZXJhdGlvbn MsIHJlc3Bv bnNpYmxlIG 1pbmluZyBw cmFjdGljZX MsIGFuZCBz dHJhdGVnaW MgZ3Jvd3Ro IGluaXRpYX RpdmVzLjxi cj4=

Agnico Eagle Mines operates in the mining sector, specifically focused on the exploration and production of precious metals like gold. The impact of AI on their products, services, or competitive positioning can be nuanced.
1. Substitution: AI is unlikely to directly substitute the core products (gold and silver mining) that Agnico Eagle produces. However, advancements in material sciences or alternative methods of creating precious metals or substitutes could potentially emerge, albeit this is more relevant in the long term and may not have immediate implications.
2. Disintermediation: In the context of mining, disintermediation primarily refers to the reduction of intermediaries in processes. AI could improve efficiencies in operations and supply chains, potentially displacing traditional roles or processes within the mining industry. While this could enhance operational efficiencies for Agnico Eagle, it may also require the company to adapt its workforce and technologies accordingly.
3. Margin Pressure: The integration of AI technologies has the potential to improve operational efficiency, reduce costs, and thus improve margins. However, if competitors adopt AI faster or more effectively, Agnico Eagle could face margin pressure as they may struggle to keep up with innovations that lead to reduced operational costs.
Overall, while AI holds potential for enhancing productivity and optimizing operations in the mining sector, the immediate material threat to Agnico Eagle’s core business from AI, regarding substitution or disintermediation, appears limited. However, ongoing technological advancements in AI will necessitate vigilance and continuous adaptation to maintain competitive positioning.

Agnico Eagle Mines, like many mining companies, can be sensitive to changes in interest rates in several ways, impacting its earnings, cash flow, and valuation.
1. Interest Expense: If Agnico Eagle carries a significant amount of debt, rising interest rates could increase interest expenses, thereby reducing net earnings and cash flow. Higher rates can make it more costly to service existing debt or take on new financing.
2. Cost of Capital: Interest rate changes can impact the company’s cost of capital. Higher interest rates increase the overall cost of borrowing, making it more expensive for Agnico to finance expansion projects or operational improvements. This might lead to delays in capital expenditures or project development.
3. Discount Rate in Valuation Models: Interest rates directly affect the discount rate used in valuation models. Higher rates generally lead to a higher discount rate, reducing the present value of future cash flows and thus lowering the company’s valuation. Conversely, lower interest rates would have the opposite effect, potentially enhancing valuation.
4. Economic Activity: Interest rates influence overall economic conditions. Higher rates can slow down economic growth, impacting demand for precious metals. If demand decreases, Agnico’s revenue may suffer, affecting earnings and cash flow.
5. Currency Values: Interest rate fluctuations can also affect currency values. For mining companies like Agnico, which may operate in various countries, changes in exchange rates due to interest rate movements can impact revenues when converted back to the company’s reporting currency.
6. Gold Prices: Lastly, as a gold mining company, Agnico Eagle’s earnings are also tied to gold prices. While interest rates can impact gold prices indirectly (higher rates may lead to lower gold prices), this relationship can be complex and influenced by multiple factors, including inflation and investor sentiment.
Overall, the sensitivity of Agnico Eagle Mines’ financial performance to interest rates will depend on its capital structure, operating environment, and broader market conditions. Monitoring these factors is crucial for understanding the potential impacts of interest rate changes on the company’s performance.

T25lIHJlYW xpc3RpYyBz Y2VuYXJpby B0aGF0IGNv dWxkIHBlcm 1hbmVudGx5 IGltcGFpci BBZ25pY28g RWFnbGUgTW luZXPigJkg ZWNvbm9taW NzIG92ZXIg dGhlIG5leH QgM+KAkzUg eWVhcnMgaX MgYSBzaWdu aWZpY2FudC wgcHJvbG9u Z2VkIGRyb3 AgaW4gZ29s ZCBwcmljZX MgZHVlIHRv IG1hY3JvZW Nvbm9taWMg ZmFjdG9ycy BzdWNoIGFz IGEgc3RyZW 5ndGhlbmlu ZyBVLlMuIG RvbGxhciwg cmVkdWNlZC BnbG9iYWwg ZGVtYW5kIG ZvciBnb2xk LCBvciBhIH NoaWZ0IGlu IGludmVzdG 9yIHNlbnRp bWVudCB0b3 dhcmRzIG90 aGVyIGFzc2 V0IGNsYXNz ZXMuIDxicj 5JZiBnb2xk IHByaWNlcy B3ZXJlIHRv IGZhbGwgYm Vsb3cgYSBj cml0aWNhbC B0aHJlc2hv bGQgKGUuZy 4sIGJlbG93 ICQxLDIwMC BwZXIgb3Vu Y2UpIGFuZC ByZW1haW4g YXQgdGhhdC BsZXZlbCBm b3IgYW4gZX h0ZW5kZWQg cGVyaW9kLC BBZ25pY28g RWFnbGUgd2 91bGQgZmFj ZSBzZXZlcm FsIGNoYWxs ZW5nZXMuID xicj5GaXJz dGx5LCB0aG UgY29tcGFu eeKAmXMgbW FyZ2lucyB3 b3VsZCBiZS Bjb21wcmVz c2VkLiBXaX RoIGxvd2Vy IHNlbGxpbm cgcHJpY2Vz IGZvciBnb2 xkLCB0aGUg cmV2ZW51ZX MgZ2VuZXJh dGVkIGZyb2 0gaXRzIG9w ZXJhdGlvbn Mgd291bGQg ZGVjbGluZS wgd2hpbGUg Zml4ZWQgY2 9zdHMgcmVs YXRlZCB0by BtaW5pbmcg KHN1Y2ggYX MgbGFib3Is IGVxdWlwbW VudCwgYW5k IG1haW50ZW 5hbmNlKSB3 b3VsZCBsYX JnZWx5IHJl bWFpbiB1bm NoYW5nZWQu IFRoaXMgY2 91bGQgbGVh ZCB0byBvcG VyYXRpbmcg bG9zc2VzLC Blc3BlY2lh bGx5IGZvci BoaWdoZXIt Y29zdCBvcG VyYXRpb25z Ljxicj5TZW NvbmRseSwg Y2FzaCBmbG 93IHdvdWxk IGJlIGFkdm Vyc2VseSBh ZmZlY3RlZC 4gUmVkdWNl ZCByZXZlbn VlcyBjb3Vs ZCBjYXVzZS BjYXNoIGZs b3cgZnJvbS BvcGVyYXRp b25zIHRvIH R1cm4gbmVn YXRpdmUsIG 1lYW5pbmcg dGhlIGNvbX BhbnkgbWln aHQgc3RydW dnbGUgdG8g Y292ZXIgaX RzIHJlY3Vy cmluZyBleH BlbnNlcyBh bmQgY2FwaX RhbCBpbnZl c3RtZW50cy 4gVGhpcyBz Y2VuYXJpby Bjb3VsZCBs ZWFkIHRvIH RoZSBuZWVk IGZvciBkZW J0IGZpbmFu Y2luZyBvci B0aGUgc3Vz cGVuc2lvbi BvZiBkaXZp ZGVuZCBwYX ltZW50cywg d2hpY2ggY2 91bGQgZnVy dGhlciBpbX BhY3QgaW52 ZXN0b3IgY2 9uZmlkZW5j ZSBhbmQgbW Fya2V0IHZh bHVhdGlvbi 48YnI+TGFz dGx5LCB0aG UgYmFsYW5j ZSBzaGVldC Bjb3VsZCBk ZXRlcmlvcm F0ZSB1bmRl ciB0aGlzIH NjZW5hcmlv LiBJZiBBZ2 5pY28gRWFn bGUgaGFkIH RvIHRha2Ug b24gYWRkaX Rpb25hbCBk ZWJ0IHRvIG 1hbmFnZSBj YXNoIGZsb3 cgaXNzdWVz IG9yIGNvdm VyIG9wZXJh dGlvbmFsIG Nvc3RzLCBp dHMgbGV2ZX JhZ2UgcmF0 aW9zIHdvdW xkIHdvcnNl bi4gQXMgYS ByZXN1bHQs IHRoZSBjb2 1wYW55IGNv dWxkIHNlZS BpdHMgY3Jl ZGl0IHJhdG luZ3MgZHJv cCwgaW5jcm Vhc2luZyB0 aGUgY29zdC BvZiBib3Jy b3dpbmcgYW 5kIGxpbWl0 aW5nIGl0cy BhY2Nlc3Mg dG8gY2FwaX RhbCBpbiB0 aGUgZnV0dX JlLiA8YnI+ SW4gc3VtbW FyeSwgYSBz dXN0YWluZW QgZGVjbGlu ZSBpbiBnb2 xkIHByaWNl cyBjb3VsZC BsZWFkIHRv IHNpZ25pZm ljYW50IGVj b25vbWljIG NoYWxsZW5n ZXMgZm9yIE FnbmljbyBF YWdsZSBNaW 5lcywgYWR2 ZXJzZWx5IG ltcGFjdGlu ZyBpdHMgbW FyZ2lucywg Y2FzaCBmbG 93LCBhbmQg b3ZlcmFsbC BmaW5hbmNp YWwgc3RhYm lsaXR5LiBU aGlzIHNjZW 5hcmlvIGNv dWxkIG5lY2 Vzc2l0YXRl IHN0cmF0ZW dpYyBjaGFu Z2VzLCBpbm NsdWRpbmcg YXNzZXQgd3 JpdGUtZG93 bnMsIG9wZX JhdGlvbmFs IHNjYWxpbm cgYmFjaywg b3IgcmVzdH J1Y3R1cmlu ZyBlZmZvcn RzLCBmdW5k YW1lbnRhbG x5IGFsdGVy aW5nIHRoZS Bjb21wYW55 4oCZcyBsb2 5nLXRlcm0g b3BlcmF0aW 9uYWwgZnJh bWV3b3JrLj xicj4=

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3Mvek lLeW04RDlC TFNmVmdFcU FFaDgud2Vi cCIgYWx0PS JBZ25pY28g RWFnbGUgTW luZXMiIHRp dGxlPSJBZ2 5pY28gRWFn bGUgTWluZX MiICBjbGFz cz0iaW1nLW ZsdWlkIiBo ZWlnaHQ9NT Agd2lkdGg9 NTAgbG9hZG luZz0nbGF6 eScgc3R5bG U9J2JvcmRl ci1yYWRpdX M6IDZweDsn PgoKICAgIC AgICAgICAg ICAgICAgIC A8ZGl2IHN0 eWxlPSdmbG V4OiAxOyB0 ZXh0LWFsaW duOiBjZW50 ZXI7IG1hcm dpbi1sZWZ0 OiA1cHg7Jz 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPHAgc3 R5bGU9J2Zv bnQtc2l6ZT ogMjZweDsg Y29sb3I6IC MzMzM7IG1h cmdpbi1ib3 R0b206IDE1 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIPCfk4 ggV2FudCB0 byByZWFkIG 1vcmUgYWJv dXQgQWduaW NvIEVhZ2xl IE1pbmVzPw ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L3A+Cg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdpbmRl eC5waHA/cG FnZT1zaWdu dXAnIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICMw MDdCRkY7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBjb2 xvcjogI2Zm ZjsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHBhZGRpbm c6IDEwcHgg MjBweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJvcm Rlci1yYWRp dXM6IDVweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH RleHQtZGVj b3JhdGlvbj ogbm9uZTsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGZv bnQtd2VpZ2 h0OiBib2xk OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luLX JpZ2h0OiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdHJhbn NpdGlvbjog YmFja2dyb3 VuZC1jb2xv ciAwLjNzIG Vhc2U7Jwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgb25t b3VzZW92ZX I9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA1NmIz IicKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IG9ubW91c2 VvdXQ9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA3 QkZGIic+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIGZv ciBmcmVlCi AgICAgICAg ICAgICAgIC AgICAgICAg IDwvYT4KCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxzcGFuIH N0eWxlPSdt YXJnaW46ID AgOHB4OyBj b2xvcjogIz U1NTsnPm9y PC9zcGFuPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPGEgaH JlZj0naW5k ZXgucGhwP3 BhZ2U9bG9n aW4nIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGNvbG9y OiAjMDA3Qk ZGOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdGV4dC1k ZWNvcmF0aW 9uOiB1bmRl cmxpbmU7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBmb2 50LXdlaWdo dDogNTAwOy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bsb2cgaW4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9hPgoK CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdtYX JnaW4tdG9w OiAxNXB4Oy Bmb250LXNp emU6IDEzcH g7IGZvbnQt d2VpZ2h0Oi Bib2xkOyBj b2xvcjogI2 QzMmYyZjsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg 8J+GkyBEaX Njb3ZlciA8 aT4iVGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrcyI8L2 k+IOKAlCBm cmVlIGVCb2 9rIQogICAg ICAgICAgIC AgICAgICAg ICAgICA8L3 A+CgogICAg ICAgICAgIC AgICAgICAg ICAgICA8IS 0tCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxkaX Ygc3R5bGU9 J21hcmdpbi 10b3A6IDEy cHg7IGZvbn Qtc2l6ZTog MTNweDsgY2 9sb3I6ICM0 NDQ7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIFNpZ2 4gdXAgbm93 IGFuZCBnZX Qgb3VyIGZy ZWUgZUJvb2 sgCiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC A8Yj5UaGUg Q2hlY2tsaX N0IFZhbHVl IEludmVzdG 9yIOKAlCBB IFNtYXJ0ZX IgV2F5IHRv IFBpY2sgU3 RvY2tzPC9i PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg ICAgICAgIC AgICAgLS0+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwhLS0K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGRpdiBz dHlsZT0nbW FyZ2luLXRv cDogMTZweD sgZm9udC1z aXplOiAxNH B4OyBjb2xv cjogIzQ0ND sgZm9udC1m YW1pbHk6IC 1hcHBsZS1z eXN0ZW0sIE JsaW5rTWFj U3lzdGVtRm 9udCwgU2Vn b2UgVUksIF JvYm90bywg SGVsdmV0aW NhIE5ldWUs IHNhbnMtc2 VyaWY7IGxp bmUtaGVpZ2 h0OiAxLjY7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IEhhdmUgeW 91IGhlYXJk IGFib3V0IG 91ciBzaG9y dCA8c3Ryb2 5nIHN0eWxl PSdmb250LX dlaWdodDog NjAwOyc+RG FpbHkgVmlk ZW8gTmV3c2 xldHRlcjwv c3Ryb25nPj 8KICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgID xhIGhyZWY9 J2h0dHBzOi 8vd3d3Lmlu c2lnaHRmdW x2YWx1ZS5j b20vbmV3c2 xldHRlci5w aHAnIHRhcm dldD0nX2Js YW5rJyBzdH lsZT0nY29s b3I6ICMwMD dCRkY7IHRl eHQtZGVjb3 JhdGlvbjog bm9uZTsgZm 9udC13ZWln aHQ6IDUwMD sgbWFyZ2lu LWxlZnQ6ID ZweDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IEZpbmQgb3 V0IG1vcmUK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv YT4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIC0t PgogICAgIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AKICAgICAg ICAKICAgIC AgICA8c3Bh biBjbGFzcz 0nYmx1cnJl ZC10ZXh0Jz 4KICAgICAg ICAgICAgUV dkdWFXTnZJ RSBWaFoyeG xJRTFwIGJt VnpJRXhwYl cgbDBaV1Fn YVhNZyBZU0 JEWVc1aFpH IGxoYmlCbm IyeGsgSUcx cGJtbHVaeS BCamIyMXdZ VzU1IElHdH ViM2R1SUcg WnZjaUJwZE hNZyBaWGgw Wlc1emFYIF psSUc5d1pY SmggZEdsdm JuTWdhVyA0 Z1RtOXlkR2 dnIFFXMWxj bWxqWVMgNG dQR0p5UGpF dSBJRVZ6ZE dGaWJHIGx6 YUdWa0lHbH UgSURFNU5U TXNJRSBGbm JtbGpieUJG IFlXZHNaU0 JvWVggTWdZ U0JzYjI1bi BMWE4wWVc1 a2FXIDVuSU docGMzUnYg Y25rZ2FXNG dkRyBobElH MXBibWx1IF p5QnBibVIx YzMgUnllU3 dnYzNSaCBj blJwYm1jZ1 lYIE1nWVNC emJXRnMgYk NCdGFXNXBi bSBjZ1kyOX RjR0Z1IGVT QmhibVFnWj MgSnZkMmx1 WnlCcCBibl J2SUc5dVpT IEJ2WmlCMG FHVWcgYkdW aFpHbHVaeS BCbmIyeGtJ SEJ5IGIyUj FZMlZ5Y3kg Qm5iRzlpWV d4cyBlUzQ4 WW5JK0lDIE FnUEdKeVBq SXUgSUZSb1 pTQmpiMiAx d1lXNTU0b0 NaIGN5QnVZ VzFsSUcgbH pJR1JsY21s MiBaV1FnWm 5KdmJTIEIw YUdVZ1JXRm 4gYkdVZ1RX bHVaUyB3Z2 QyaHBZMmdn IGQyRnpJRz l1WlMgQnZa aUJwZEhNZy BabWx5YzNR Z2MyIGxuYm 1sbWFXTmgg Ym5RZ2IzQm xjbSBGMGFX OXVjeUJzIG IyTmhkR1Zr SUcgbHVJSF JvWlNCQiBZ bWwwYVdKcE lIIEpsWjJs dmJpQnYgWm lCUmRXVmla VyBNdVBHSn lQak11IElF Rm5ibWxqYn kgQkZZV2Rz WlNCdiBjR1 Z5WVhSbGN5 IEJ6WlhabG NtRnMgSUcx cGJtVnpJRy BGamNtOXpj eUJEIFlXNW haR0VzSUcg bHVZMngxWk dsdSBaeUIw YUdVZ1RHIE ZTYjI1a1pT QmggYm1RZ1 RHRndZUyBC dGFXNWxjeU JwIGJpQlJk V1ZpWlcgTX NJR0Z6SUhk bCBiR3dnWV hNZ2RHIGhs SUUxbFlXUn YgZDJKaGJt c2dZVyA1a0 lFMWxiR2xo IFpHbHVaU0 J0YVcgNWxj eUJwYmlCTy BkVzVoZG5W MExqIHhpY2 o0MExpQlUg YUdVZ1kyOX RjRyBGdWVT QnBjeUJyIG JtOTNiaUJt YjMgSWdhWF J6SUdOdiBi VzFwZEcxbG JuIFFnZEc4 Z2MzVnogZE dGcGJtRmlh VyB4cGRIa2 dZVzVrIElI SmxjM0J2Ym 4gTnBZbXhs SUcxcCBibW x1WnlCd2Nt IEZqZEdsal pYTXUgSUVs MElHbHVkbS BWemRITWdh VzRnIGFXNX BkR2xoZEcg bDJaWE1nWV dsdCBaV1Fn WVhRZ2JXIG x1YVcxcGVt bHUgWnlCbG JuWnBjbSA5 dWJXVnVkR0 ZzIElHbHRj R0ZqZEMgQm hibVFnWTI5 dSBkSEpwWW 5WMGFXIDVu SUhSdklHeH YgWTJGc0lH TnZiVyAxMW JtbDBhV1Z6 IExqeGljaj QxTGkgQkJa MjVwWTI4Zy BSV0ZuYkdV Z2FYIE1nY2 1WamIyZHUg YVhwbFpDQm 1iMyBJZ2FY UnpJSE4wIG NtOXVaeUJt YVcgNWhibU 5wWVd3ZyBj Rzl6YVhScG IyIDRzSUdO dmJuTnAgYz NSbGJuUnNl UyBCd2NtOW tkV05wIGJt Y2djRzl6YV ggUnBkbVVn WTJGeiBhQ0 JtYkc5M0lH IEZ1WkNCdF lXbHUgZEdG cGJtbHVaeS BCaElITnZi R2xrIElHSm hiR0Z1WTIg VWdjMmhsWl hRdSBQR0p5 UGpZdUlGIF JvWlNCamIy MXcgWVc1NU lHRnNjMiA4 Z2NHeGhZMl Z6IElHRWdj MmxuYm0gbG 1hV05oYm5R ZyBaVzF3YU dGemFYIE1n YjI0Z1pYaH cgYkc5eVlY UnBiMiA0Z1 lXNWtJR1Js IGRtVnNiM0 J0WlcgNTBM Q0JvYjJ4ay BhVzVuSUdF Z1pHIGwyWl hKelpTQncg YjNKMFptOX NhVyA4Z2Iy WWdaWGh3IG JHOXlZWFJw YjIgNGdjSE p2YW1WaiBk SE1nZEdoaG RDIEJoYVcw Z2RHOGcgWl hod1lXNWtJ RyBsMGN5Qn laWE52IGRY SmpaU0JpWV ggTmxJR1ox Y25SbyBaWE l1UEdKeVBq IGN1SUVGbm JtbGogYnlC RllXZHNaZS BLQW1YTWdh R1ZoIFpIRj FZWEowWlgg SnpJR0Z5Wl NCcyBiMk5o ZEdWa0lHIG x1SUZSdmNt OXUgZEc4c0 lFOXVkRyBG eWFXOHNJR0 oxIGRDQnBk Q0JvWVggTW dZU0J1YjNS aCBZbXhsSU dsdWRHIFZ5 Ym1GMGFXOX UgWVd3Z2NI SmxjMiBWdV kyVXNJSGRw IGRHZ2diM0 JsY20gRjBh Vzl1Y3lCcC BiaUJHYVc1 c1lXIDVrSU dGdVpDQmgg SUdadlkzVn pJRyA5dUlI QnZkR1Z1IG RHbGhiQ0J2 Y0ggQnZjbl IxYm1sMCBh V1Z6SUdsdU lHIDkwYUdW eUlHTnYgZF c1MGNtbGxj eSA0OFluSS tPQzRnIFZH aGxJR052Yl ggQmhibmtn YUdGeiBJR0 psWlc0Z1ky IDl1YzJsem RHVnUgZEd4 NUlISmhibS B0bFpDQmhi Vzl1IFp5Qj BhR1VnZEcg OXdJR2R2Yk dRZyBiV2x1 YVc1bklHIE 52YlhCaGJt bGwgY3lCcG JpQjBaWCBK dGN5QnZaaU J6IGRYTjBZ V2x1WVcgSn BiR2wwZVNC dyBjbUZqZE dsalpYIE1n WVc1a0lHTn YgY25CdmNt RjBaUyBCeV pYTndiMjV6 IGFXSnBiR2 wwZVMgQnBi bWwwYVdGMC BhWFpsY3k0 OFluIEkrT1 M0Z1FXZHUg YVdOdklFVm haMiB4bElH bHpJR2x1IG RtOXNkbVZr SUcgbHVJSF poY21sdiBk WE1nWTI5dG JYIFZ1YVhS NUlHUmwgZG 1Wc2IzQnRa VyA1MElIQn liMmR5IFlX MXpMQ0JtYj IgTjFjMmx1 WnlCdiBiaU JvWldGc2RH IGdzSUdWa2 RXTmggZEds dmJpd2dZVy A1a0lHVmpi MjV2IGJXbG pJR1JsZG0g VnNiM0J0Wl c1MCBJR2x1 SUhSb1pTIE JoY21WaGN5 QnogZFhKeW IzVnVaRyBs dVp5QnBkSE 1nIGIzQmxj bUYwYVcgOX VjeTQ4WW5J KyBNVEF1SU ZSb1pTIEJq YjIxd1lXNT UgSUdoaGN5 QmhJSCBOMG NtOXVaeUIw IGNtRmpheU J5WlcgTnZj bVFnYVc0Zy BaVzF3Ykc5 NVpXIFVnYz JGbVpYUjUg SUdGdVpDQm 9aVyBGc2RH Z3NJSE4wIG NtbDJhVzVu SUggUnZJR0 55WldGMCBa U0JoSUhkdm NtIHR3YkdG alpTQmogZF d4MGRYSmxJ SCBSb1lYUW djSEpwIGIz SnBkR2w2Wl ggTWdkR2hs SUhkbCBiR3 d0WW1WcGJt IGNnYjJZZ2 FYUnogSUhk dmNtdG1iMy BKalpTNGdQ R0p5IFBsUm 9aWE5sSUcg WmhZM1J2Y2 5NZyBZMjl1 ZEhKcFluIF YwWlNCMGJ5 QkIgWjI1cF kyOGdSVyBG bmJHWGlnSm x6IElISmxj SFYwWVggUn BiMjRnWVhN ZyBZU0J5Wl hCMWRHIEZp YkdVZ2NHeG ggZVdWeUlH bHVJSCBSb1 pTQnRhVzVw IGJtY2dhVz VrZFggTjBj bmt1UEdKeS BQZz09CiAg ICAgICAgPC 9zcGFuPgog ICAgICAgIA ogICAgICAg IA==