Few Surprises in Yamana’s 2Q, but Trimming FVE on Brio Gold Stake Reductions
Yamana Gold reported decent second-quarter results that had few surprises. Performance was good excluding the results from 55.6%-owned Brio Gold. At the core mines, production rose 3% to 244,607 ounces and all-in sustaining costs, or AISC, declined 10% to $869 per ounce. Including the attributable ounces from Brio Gold, production fell 5% and AISC declined 6%. For the full year, Yamana maintained its production and cost guidance, as it is within striking distance of hitting these targets through...Yamana Gold is engaged in the exploration, development, extraction, processing and reclamation of gold and other precious metals mining throughout the Americas including Brazil, Argentina, Chile, Mexico and Colombia. As of Dec 31 2011, total proven reserves for gold, silver, cooper, zinc and molybdenum was 618,709,000 tonnes, 27,316,000 tonnes, 387,660,000 tonnes, 5,004,000 tonnes and 32,000,000 tonnes, respectively.
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