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Yamana Gold Inc. announced significant initial drill results from its Wasamac project in Quebec, confirming the Wasa Shear zone's presence and the down-dip continuity of the Wildcat zone. The drilling aims to maintain a production level of 200,000 ounces annually for over 15 years, with plans for a generative exploration program targeting additional inferred mineral resources, including projects in Brazil. The company's generative program targets the addition of at least 1.5 million ounces of gold equivalent, enhancing its growth strategy. Updates on other projects like Lavra Velha and Monument Bay were also shared.
Yamana Gold Inc. (NYSE: AUY) announced exploration updates for its four mines, showcasing significant drilling results. At Minera Florida, drilling expanded known mineral zones, particularly at Don Leopoldo and Fantasma, with gold intercepts of up to 11.16 g/t. Cerro Moro revealed high-grade results, including 76.63 g/t of gold at Martina. El Peñón reported expanding mineralization at Paloma, with a notable intercept of 49.50 g/t. The Canadian Malartic project also showed promising results, supporting long-term production growth. The ongoing exploration efforts underline the potential for increased mine life and resource expansion.
Yamana Gold has repurchased an additional 1,584,500 common shares, totaling 3,321,276 shares for approximately C$18 million since the program's initiation. This move is part of a strategy to enhance shareholder returns, as the company believes its shares are undervalued. Future repurchases will depend on market conditions and cash availability. Furthermore, the company plans to provide an exploration update in September. Since Q2 2019, dividends have increased by 500%, reflecting the company's commitment to returning capital to shareholders.
Yamana Gold announced the repurchase of 1,736,776 shares for approximately C$10 million as part of its normal course issuer bid, aiming for a total of up to 5% of outstanding shares. The company believes its shares are undervalued and intends to enhance shareholder returns through strategic buybacks, which will also involve cancelling the repurchased shares. Recent financial maneuvers, including a $500 million unsecured notes offering, have improved its debt profile and financial resilience. Yamana plans further updates on exploration in September.
Yamana Gold Inc. (NYSE: AUY) announced the redemption of all outstanding senior notes due in 2022, 2023, and 2024, enhancing its financial stability. This initiative results in a total debt reduction of approximately $220 million, decreasing outstanding debt to $782.9 million from $1.85 billion in 2019. The company has completed a $500 million offering of 2.630% senior notes due in 2031, significantly lowering annual interest charges by about $21.6 million. Yamana aims to use its improved financial flexibility to fund growth projects and enhance shareholder returns through dividends and buybacks.
Yamana Gold has priced a $500 million offering of 2.630% Senior Notes due August 15, 2031. The notes are unsecured senior obligations, guaranteed by some subsidiaries. The offering is expected to close on August 6, 2021. Proceeds will fund the redemption of higher-interest Series C, D, B Senior Notes, reducing overall debt and interest costs. This strategy aims to extend debt maturities while improving financial flexibility. The notes have not been registered under U.S. securities laws, limiting their sale in the U.S.
Yamana Gold Inc. (NYSE: AUY) announced strong Q2 2021 results with record production levels, particularly at Jacobina and Canadian Malartic, driving cash flow to $153.5 million. Despite a non-cash deferred income tax expense of $145.3 million affecting earnings, adjusted net earnings were $70.7 million, or $0.07 per share. The company raised its annual dividend by nearly 15% to $0.12 per share, marking a significant increase from previous years. Ongoing expansions promise improved production capacity and lower capital costs at Jacobina. Total cash liquidity stands at approximately $1.5 billion.
Yamana Gold Inc. (NYSE: AUY) has announced a 15% increase in its annual dividend to $0.12 per share, payable on October 14, 2021, to shareholders of record by September 30, 2021. This marks the sixth dividend increase since Q2 2019, totaling a 500% increase since then. The company expects to fund this dividend even at gold prices as low as $1,350 per ounce, thanks to improved cash flows and a stronger balance sheet. Additionally, Yamana plans a Normal Course Issuer Bid to repurchase up to 48,321,676 shares, representing 5% of its outstanding shares.
Yamana Gold (NYSE: AUY) announced advancements in the Phase 2 expansion of its Jacobina mine, targeting an increase in throughput to 8,500 tonnes per day (tpd) and gold production to 230,000 ounces annually. Recent trials have shown processing capabilities exceeding 8,000 tpd. Capital expenditures are projected at $15-$20 million, significantly lower than prior estimates. The company is also advancing engineering for a Phase 3 expansion to 10,000 tpd, implementing a comprehensive tailings management strategy, and reporting strong exploration results, including new high-quality mineral resources.
Yamana Gold has announced the results of new feasibility studies for its Wasamac project in Quebec, confirming strong mineral reserves of 1.91 million gold ounces at a grade of 2.56 g/t. The project expects to ramp up production to approximately 200,000 ounces annually for at least four years, with an average annual production of 169,000 ounces over a 10-year lifespan. Initial capital costs are projected at $416 million, with cash costs of $640 per ounce and an after-tax IRR of 16.1% at a gold price of $1,550 per ounce. The project aims to reduce CO2 emissions by utilizing underground conveyors and aims for a strategic mine life exceeding 15 years through ongoing exploration.
