Yamana Lags Some of Its Peers with a Mediocre 2016; Turnaround Hinges On Cerro Moro
Relative to peers like Barrick Gold, Yamana had a disappointing 2016. Whereas other miners reported huge increases in free cash flow due to higher gold prices and successful cost reductions, Yamana’s free cash flow (operating cash flow less capital expenditures) was relatively flat at $157 million, compared with $153 million in 2015. Gold co-product cash costs crept up to $665 per ounce, compared with $653 in the prior year.The near future doesn’t seem promising for Yamana either. 2017 guidance...
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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