Gold Fields Board stands behind existing terms of transaction with Yamana Gold

Rhea-AI Summary

The Gold Fields Board met on November 7, 2022, to review the Joint Offer from Pan American Silver and Agnico Eagle Mines aimed at acquiring all common shares of Yamana Gold Inc. This follows a previous press release on November 4, 2022, detailing the joint proposal from Pan American and Agnico. Gold Fields is a diversified gold producer with significant operations across multiple countries, producing approximately 2.3 million ounces of gold annually and holding substantial gold reserves and resources.

Positive

• Gold Fields produces approximately 2.3 million ounces of gold annually.
• The company holds gold-equivalent Mineral Reserves of 48.6 million ounces.

Negative

• Potential market distraction due to the acquisition discussions with Yamana Gold Inc.

JOHANNESBURG, Nov. 7, 2022 /PRNewswire/ -- The Gold Fields Board has convened to consider the Joint Offer of Pan American Silver and Agnico Eagle Mines to acquire all of the issued and outstanding common shares of Yamana Gold Inc, based on the information included in the joint press release issued by Pan American and Agnico on 4 November 2022, and the press release issued by Yamana the same day. 

Full media release is available on the company website: 
www.goldfields.com

About Gold Fields

Gold Fields is a globally diversified gold producer with nine operating mines in Australia, Chile, Ghana, Peru and South Africa, including the Asanko Joint Venture in Ghana, with total attributable annual gold-equivalent production of approximately 2.3Moz, attributable gold-equivalent Mineral Reserves of 48.6Moz and gold Mineral Resources of 111.8Moz. Gold Fields' shares are listed on the Johannesburg Stock Exchange (JSE) and its American depositary shares trade on the New York Stock Exchange (NYSE).

For more information, please contact:

Gold Fields Investors
Avishkar Nagaser, EVP, Investor Relations and Corporate Affairs
Tel: +27 11 562 9775; Mobile: +27 82 312 8692
Email: Avishkar.Nagaser@goldfields.com

Thomas Mengel, Manager, Investor Relations
Tel: +27 11 562 9849; Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com 

Gold Fields Media
Sven Lunsche, Vice President Corporate Affairs
Tel: +27 11 562 9763; Mobile: +27 83 2609279
Email: Sven.Lunsche@goldfields.com 

Investors
BofA Securities (Financial advisor to Gold Fields)
Ben Davies / Peter Surr / Christos Tomaras / Anthony Knox
Tel: +44 20 7628 1000

Media
Brunswick Group (Communications advisor to Gold Fields)
Johannesburg: Timothy Schultz 
Tel: +27 82 309 2497 
London: Pip Green / Tom Pigott
Tel: +44 20 7404 5959
North America: Emily Levin / Nikki Ritchie
Tel: +1 202 617 8582 / Tel: +1 845 682 9850

View original content:https://www.prnewswire.com/news-releases/gold-fields-board-stands-behind-existing-terms-of-transaction-with-yamana-gold-301669934.html

SOURCE Gold Fields Limited

FAQ

What is Gold Fields' position on the acquisition of Yamana Gold?

Gold Fields Board is considering the joint offer from Pan American Silver and Agnico Eagle Mines to acquire Yamana Gold.

When did Gold Fields conduct the meeting regarding Yamana Gold?

The meeting was held on November 7, 2022.

What are Gold Fields' gold production levels?

Gold Fields has an annual gold-equivalent production of approximately 2.3 million ounces.

What are Gold Fields' gold reserves?

Gold Fields holds attributable gold-equivalent Mineral Reserves of 48.6 million ounces.