Yamana Sells Mercedes and Recommissions C1 Santa Luz, but Shares Remain Overvalued
Yamana's gold production increased 7% over the prior year's quarter to 313,086 ounces, and average realized gold prices rose to $1,267 per ounce. Unfortunately, cash costs per ounce rose 15%, and all-in sustaining costs, or AISC, rose 12% over the prior-year quarter to $664 per ounce and $964 per ounce, respectively. Much of this was due to lower copper by-product credits, driven by a 23% year-over-year decline in copper prices. We don’t think copper is going to get any better from here, so we h...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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