TORONTO, March 4 /CNW/ - YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:YAU) today announced its first quarter 2010 dividend of US$0.01 per share. Shareholders of record at the close of business on Wednesday, March 31, 2010 will be entitled to receive payment of this dividend on Wednesday, April 14, 2010. The dividend is an "eligible dividend" for Canadian tax purposes.
About Yamana
Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Colombia. The Company plans to continue to build on this base through existing operating mine expansions and throughput increases, the advancement of its exploration properties and by targeting other gold consolidation opportunities in the Americas.
For further information: Letitia Wong, Director, Investor Relations, (416) 815-0220, Email: investor@yamana.com, www.yamana.com
- Significant fourth quarter revenue, earnings and cash flow growth -
TORONTO, March 3 /PRNewswire-FirstCall/ - YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:YAU) today announced its financial and operating results for the fourth quarter and year ended December 31, 2009 and its mineral reserves and mineral resources for the year ended December 31, 2009. All dollar amounts are expressed in United States dollars unless otherwise specified.
2009 FOURTH QUARTER AND FULL YEAR HIGHLIGHTS
Financial and Operating Highlights
Highlights for the three- and twelve-month periods ended December 31, 2009 include:
- Total production from continuing operations of 289,456 gold equivalent ounces (GEO) and 1,025,677 GEO, respectively; - Cash costs(1) from continuing operations excluding Alumbrera of $111 per GEO and $170 per GEO, respectively; - Revenues of $399.8 million and $1.2 billion, respectively; - Mine operating earnings of $184.3 million and $467.5 million, respectively; - Net earnings of $36.2 million and $192.6 million, respectively; - Adjusted Earnings(1) of $100.9 million or $0.14 per share and $346.1 million or $0.47 per share, respectively;
Post says Yamana upgraded on higher bullion prices
2010-01-21 09:28 ET - In the News
The Financial Post reports in its Thursday edition that new and improved forecasts for gold, silver and copper will bolster upside in Yamana Gold shares over the next year, says Dundee Securities analyst Ron Stewart.
The Post's David Pett, writing in Trading Desk, says Mr. Stewart upgraded Yamana to "buy" from "neutral," raising his price target on the miner 50 cents to $14.50. "We recommend investors consider YRI as a relatively stable and liquid precious metal equity based on the current outlook," the analyst said.
The update comes in the wake of Dundee's revised metals forecast that now anticipates gold bullion to average $1,200 per ounce in 2010 versus its previous estimate of $1,065 and $1,325 per ounce in 2011, up from $1,000 (all metal prices in U.S. dollars).
Silver prices are expected to hit $20 this year and $22 in 2011, up from prior forecasts of $17.50 and $16.50, while copper price expectations increased to $3.25 per pound from $3 in 2010 and to $3 from $2.75 in 2011. Mr. Stewart also raised his recommendation on Goldcorp Inc. to "buy" from "neutral."
He said, "Given the increase in our valuation and the recent dip in the share price, we now consider [Goldcorp] to be undervalued."
Globe says Yamana, others top ranking at Sentry Select
2010-01-19 09:32 ET - In the News
See In the News (C-IMG) Iamgold Corp
The Globe and Mail reports in its Tuesday, Jan. 19, edition that Sentry Select Precious Metals Growth manager Kevin MacLean sees opportunity in Iamgold and other gold miners.
The Globe's Shirley Won writes in the Number Cruncher column that Mr. MacLean invests in companies that have what he calls a "high wealth-creation yield."
He says, "These are companies that are adding to their reserves and resources at very meaningful rates relative to the size of the company, and have a high cash-flow yield." He shies away from miners during the construction phase because of concerns about things going wrong. Mr. MacLean sees gold rallying for the next few years.
He says the gold market does not need a weak U.S. dollar to rise because the supply of gold has been declining for a decade now.
"This is a commodity, which has had a persistently declining supply, and now the central banks have backed away from selling it. We are at the lowest level of supply in at least 15 years." Top holdings in Mr. MacLean's Sentry Select Precious Metals Growth fund are Iamgold, Yamana Gold, Jaguar Mining, Allied Nevada Gold, Alamos Gold and Aurizon Mines.
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