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Yamana Gold (NYSE: AUY) has received an unsolicited binding proposal from Pan American Silver to acquire all common shares for $1.0 billion in cash and stock. Shareholders would receive $1.0406 in cash, along with fractional shares of Agnico and Pan American for each common share. The Board has deemed this New Offer a 'Yamana Superior Proposal' compared to an existing agreement with Gold Fields, initiating a five-day matching period for Gold Fields. A special meeting for Yamana shareholders to vote on the Gold Fields arrangement is set for November 21, 2022.
Yamana Gold reported third-quarter 2022 results with production totaling 241,302 gold equivalent ounces (GEO). Total costs were $1,299 per GEO, cash costs at $794, and all-in sustaining costs (AISC) at $1,148. Net earnings were $19.8 million or $0.02 per share, with adjusted earnings at $44.5 million or $0.05 per share. Cash flows from operations reached $164.7 million. The company is on track to achieve its guidance of 1 million GEO for the year, despite challenges posed by a high gold-to-silver ratio.
Yamana Gold Inc. has announced the upcoming Yamana Meeting, scheduled for November 21, 2022, to gain shareholder approval for its acquisition by Gold Fields Limited. The management information circular will be filed and made available to shareholders, who are eligible to vote if they were recorded by October 18, 2022. Yamana plans to release its third-quarter operational and financial results on October 27, 2022, followed by a conference call on October 28. The meeting will be held both in-person and online.
Yamana Gold Inc. (NYSE: AUY) will release its third-quarter operational and financial results on October 27, 2022, after market close. A conference call is scheduled for October 28 at 9:00 a.m. EDT. Additionally, a special shareholder meeting will be held on November 21, 2022, to discuss a proposed transaction with Gold Fields Limited, with the record date set for October 18, 2022. Further details regarding the meeting and transaction will be provided in forthcoming management information circulars.
On September 23, 2022, Yamana Gold (NYSE: AUY) announced an agreement with Glencore to acquire Newmont's 18.75% stake in the MARA joint venture for $124.9 million plus a deferred $30 million payment. Following this acquisition, Yamana will maintain a 56.25% interest, with Glencore holding 43.75%. The MARA project, located in Argentina, is expected to yield significant mineral reserves, including 11.8 billion pounds of copper and 7.4 million ounces of gold, with a projected NPV of $1.9 billion based on the 2020 PFS-B results.
Yamana Gold Inc. has completed technical reports for its major mines, including Minera Florida, Cerro Moro, Wasamac, and MARA projects, ensuring compliance with National Instrument 43-101. This decision reflects a policy to publicly file technical reports for all significant operations. The reports support the Yamana 1.5 Plan, targeting a production level of at least 1.5 million gold equivalent ounces, representing a growth of 50%. Full details are available on Yamana's website, indicating a commitment to transparency and investor information.
Yamana Gold Inc. reported strong Q2 2022 results, producing 260,960 gold equivalent ounces (GEO) at a total cost of $1,168 per GEO sold. The company generated cash flows from operating activities of $187.8 million, marking a 22.3% increase year-over-year. Net earnings reached $72.1 million ($0.07 per share), with adjusted net earnings of $85.8 million ($0.09 per share). With robust performance across operations and a solid financial position, Yamana is on track to meet its production guidance for the year, supported by a cash balance of $545.1 million and $750 million in available credit.
Yamana Gold Inc. (NYSE:AUY) has announced a third quarter dividend of $0.03 per share, amounting to an annual total of $0.12 per share. Shareholders on record as of the close on September 30, 2022, will receive this payment on October 14, 2022. This dividend is categorized as an 'eligible dividend' for Canadian tax purposes. The company operates significant gold and silver production across the Americas, with plans for future expansions and optimization of its existing operations.
Yamana Gold reports positive exploration results from its Odyssey and Wasamac projects. Infill drilling at Odyssey's East Gouldie zone shows significant expansion potential, with ongoing drilling likely converting a substantial portion of inferred resources to indicated. At Wasamac, infill results confirm or exceed expected grades, supporting an expanded production outlook. The company is advancing exploration with active drilling programs, with significant intercepts such as 28.66 g/t gold over 6.62 meters in Odyssey South, bolstering confidence in the project's potential.
Yamana Gold reported a strong second quarter of 2022, producing 260,960 gold equivalent ounces (GEO), including 232,542 ounces of gold and 2.36 million ounces of silver. The all-in sustaining costs are projected to be below US$1,090/oz. Cash and cash equivalents increased by over $30 million to approximately $328 million. The company remains on track to meet its annual production and cost guidance, with significant contributions from projects like Canadian Malartic and Jacobina. Future expansions aim to boost production further.
