Yamana Gold (NYSE:AUY) reported that production totaled 260,960 gold equivalent ounces in Q2.
The senior gold miner reported its results today.
Total cost of sales, cash costs and all-in sustaining costs were $1,168, $734 and $1,084 per gold equivalent ounces, respectively.
The company had $187.8 million in cash flows from operating activities.
Second quarter net earnings were $72.1 million or $0.07 per share basic and diluted. Adjusted net earnings were $85.8 million or $0.09 per share basic and diluted.
The company said it felt inflation effects, but prices may have peaked.
"Productivity gains along with stable and, in some cases, better than expected costs, offset inflationary impacts on certain consumables, notably diesel. By the end of the quarter, the costs of several commodity-based consumables appeared to have peaked with prices meaningfully below recent levels," wrote the company.
Year-to-date Yamana Gold is up 17% to $6.11 a share, while the GDX is down 17%. Yamana is likely being supported by a Gold Fields bid to acquire the company. The acquisition was announced in the spring.
