When markets change dramatically, as the commodities market has recently, investors want stability – and simplicity. To paraphrase Warren Buffett, invest only in a company that you understand.
Successful companies are straightforward companies, with clear value propositions. Agnico Eagle’s priorities have been the same for a long time: strong management, low political risk, pure gold play. To draw attention to its consistent message, Agnico Eagle’s 2012 Annual Report echoes the 1999 message of “Really, it’s simple”. In addition to explaining the company’s simple – and successful – strategy, the report provides a platform for a respected third party to argue for the enduring value of gold.