Yamana Shares Rally After a Strong 2Q, but Shares Look Fairly Valued
Yamana turned in a strong second quarter. With the opening of Cerro Moro and higher production at Chapada, Canadian Malartic, and Jacobina, total production from Yamana mines rose 8% to 224,083 gold ounces. Improved by-product production also helped drive lower all-in sustaining costs ,or AISC, which declined 15% to $682 per ounce.Following a strong second quarter, the company now expects to exceed previous gold production guidance of 900,000 ounces and AISC to be within guidance of $725-$745 p...
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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