Mining News
Yamana Gold beats annual guidance with ‘standout’ performances at its core operations
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(Kitco News) - Yamana Gold (TSX:YRI) reported Thursday that its production in Q4 2021 totaled 281,388 gold equivalent ounces ("GEO"), significantly exceeding the previously provided quarterly guidance of 270,000 GEO.
Importantly, the company said that its full year 2021 production of 1.01 million GEO was 12% higher than in 2020 and exceeded annual guidance of 1.00 million GEO.
Yamana added that in total, production during the quarter from the company’s five operating mines achieved an all-time record with Canadian Malartic, Jacobina, Cerro Moro and El Peñón posting standout quarters.
The company noted that fourth quarter all-in sustaining costs are expected to be approximately $970 per GEO, lower than previously provided cost guidance for the quarter and approximately 8% below AISC reported for the prior three quarters.
Importantly, the company said it generated strong cash flows during the quarter, which strengthened its cash balance and financial flexibility.
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"Cash and cash equivalents increased by more than $65 million to a total year-end cash balance in excess of $305 million from $240 million at the end of the third quarter, exclusive of over $215 million in cash available in MARA for utilization by the project," Yamana said in a press-release.
Yamana Gold is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina.
