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Yamana Gold (NYSE: AUY) reported strong Q3 2020 results with adjusted net earnings of $92.9 million ($0.10 per share), a significant increase from $49.5 million ($0.05 per share) a year earlier. Cash flows from operations reached $215 million, reflecting strong production and precious metals prices. Net debt decreased by $148.9 million to $619.1 million, advancing its goal of a positive net cash position. The company raised its 2020 production guidance to 915,000 gold equivalent ounces, up 3% from previous estimates. Additionally, a 50% dividend increase was announced, marking a substantial rise from previous rates.
Yamana Gold has declared a $0.02625 dividend per share for Q4 2020, bringing the annual dividend to $0.105, a 50% increase reflecting a 425% rise over the past 18 months. Shareholders of record by December 31, 2020, will receive payment on January 14, 2021. The company asserts it has sufficient cash reserves to maintain this increased dividend level for three years, even in a low gold price environment, ensuring sustainability in its dividend policies.
Yamana Gold Inc. reported exceptional drilling results at the Canadian Malartic mine, reinforcing plans for an underground operation. A C$24 million drill program has added 44 new pierce points, enhancing its mineral resource model. Significant findings include grades averaging over 3.00 g/t of gold with wide intervals, and notable intercepts extending from 700 to 1,900 metres below surface. The underground project aims to support a multi-hundred thousand ounce annual production. Continued exploration is set to enhance inferred mineral resources by year-end, indicating promising future economics.
Yamana Gold has successfully listed its common shares on the London Stock Exchange (LSE) under the ticker AUY, effective October 13, 2020. This follows the release of its Prospectus on October 7, 2020. The listing aims to enhance investor access to the Company, which boasts a strong portfolio of high-quality, long-life assets across the Americas. Yamana expects to produce approximately 1 million gold equivalent ounces in 2021 and 2022. The Company emphasizes its commitment to cash returns and high environmental, social, and governance (ESG) standards.
Yamana Gold Inc. reported strong preliminary third quarter 2020 results, with gold production of 201,772 ounces and silver production at 3.04 million ounces, leading to a total gold equivalent production of 240,466 ounces. The company raised its 2020 production guidance from 890,000 to 915,000 GEO. Cash balances increased to approximately $470 million, up $145 million from the previous quarter. A 50% increase in the annual dividend to $0.105 per share was announced, positioning it at the high end of the target range on a per GEO basis. This increase represents a 425% rise over the past 18 months.
Yamana Gold (NYSE: AUY) has received approval from the Financial Conduct Authority for its Prospectus, enabling its common shares to be listed on the London Stock Exchange starting October 13, 2020. This move aims to provide UK and European investors with access to a senior gold producer with a robust asset portfolio in the Americas. The company anticipates stronger liquidity and capital access through this listing, which aligns with its strategy of organic growth and shareholder returns. Notably, Yamana has a strong cash flow and a commitment to ESG standards.
Yamana Gold Inc. (NYSE: AUY) is advancing its listing on the London Stock Exchange (LSE) and anticipates common shares will begin trading before releasing third quarter results in late October. The company has engaged Peel Hunt LLP and Joh. Berenberg Gossler & Co. KG as UK brokers to enhance its presence in the European market and improve liquidity. Yamana aims to position itself as the preferred investment choice for exposure to gold, leveraging its high-quality assets and sustainable dividend strategy.
Yamana Gold (NYSE: AUY) has been ranked in the TSX30, recognizing it as one of the top 30 performing stocks on the Toronto Stock Exchange, based on dividend-adjusted share price appreciation over three years. CEO Daniel Racine highlights this achievement as validation of the company's strategic vision and efforts. Significant improvements include a 24% reduction in Total Recordable Injury Frequency Rate, a US$991 million reduction in net debt, and a 250% increase in dividends over the past year. Yamana focuses on optimizing its asset portfolio and advancing key projects for future growth.
Yamana Gold Inc. (NYSE: AUY) reported significant exploration results for its Minera Florida, El Peñón, and Jacobina mines. Noteworthy findings include high-grade intercepts such as 24.01 g/t of gold at El Peñón and 18.99 g/t at the Bandolera sector. The exploration highlights suggest a strategic mine life extending beyond 10 years for both Minera Florida and El Peñón, and up to 20 years for Jacobina. The results are set to enhance mineral reserves and indicate potential for increased productivity at lower development costs.
Yamana Gold Inc. (NYSE: AUY) announced encouraging exploration results from its Minera Florida, El Peñón, and Jacobina mines, highlighting potential for growth in mineral resources. New discoveries, such as high-grade intercepts at Minera Florida and El Peñón, signify that mine life will likely exceed existing mineral reserves, with estimates reaching 10 years for Minera Florida and 20 years for Jacobina. Significant drilling results included 24.01 g/t of gold at El Peñón and 18.99 g/t at Minera Florida, supporting the company's internal assessments for mine life extension.
