In keeping with that goal, Yamana said it has formally engaged Peel Hunt LLP and Joh. Berenberg Gossler & Co. as its nominated United Kingdom brokers.
Yamana was recently included in this year’s TSX30 ranking of top performing stocks on the TSX. The TSX30 program is a sector-agnostic ranking of the top 30 performing companies on the TSX over a three-year period, based on dividend-adjusted share price appreciation.
On Thursday September 17, shares eased 1.7% or $0.14 to $8.15 on volume of 1.82 million and trade in a 52-week range of $9.29 and $3.11.
Yamana has significant gold and silver production, development stage properties and exploration properties in Brazil, Argentina, Chile, Mexico and Canada.
In 2020, Yamana expects to produce 786,000 ounces of gold and 10.25 million ounces of silver at an all-in sustaining cost of between US$980 and US$1,020/oz.
In the three months ended June 30, 2020, the company said gold production of 164,141 ounces was above plan, following exceptional performances from the Jacobina mine (Brazil), El Penon (northern Chile), Minera Florida (central Chile) and Canadian Malartic (Abitibi, Quebec), all of which exceeded their production targets in spite of the government-mandated temporary suspension of operations at Canadian Malartic.
Silver production of just over 2.0 million ounces in the second quarter was also above plan, following a strong performance of El Penon.
Both the Cerro Moro and Canadian Malartic mines resumed mining activities in April 2020, following the temporary suspensions in March 2020 due to government-ordered COVID-19 restrictions.
At Canadian Malartic, the ramp-up progressed faster than expected, and mill throughput in each of May and June exceeded 60,000 tonnes/day, partially offsetting the impacts from the downtime and lower production rates during the ramp-up in April.
Meanwhile the company is moving ahead with plans to increase production at its Jacobina mine to approximately 225,000 ounces per year by 2023. The Jacobina operation in northeast Brazil, consists of a complex of underground gold mines and a 6,500 tonnes/day carbon-in-pulp processing plant.