YAMANA GOLD INC. (TSX:YRI; NYSE:AUY, LSE:AUY) (“Yamana Gold” or the
“Company”) is pleased to announce that at 08:00am BST today, the
Company’s common shares will be admitted to the standard listing
segment of the Official List on the London Stock Exchange’s (“LSE”)
Main Market for listed securities (“Admission”) and the Company’s
shares will trade under the ticker AUY.
Admission follows the publication of the
Company’s Prospectus on 7 October 2020, a copy of which has been
submitted to the National Storage Mechanism and is available at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
or the website of the Company’s United Kingdom (“UK”) lawyers,
Memery Crystal LLP at
http://www.memerycrystal.com/yamanaprospectus.
Peter Marrone, Founder and Executive Chairman of
Yamana Gold, commented: “We look forward to continuing our
engagement with investors with our listing on the London Stock
Exchange now completed. There are compelling reasons to
invest in our company. We offer gold exposure via a
high-quality, long-life asset portfolio in the Americas, organic
production growth, a commitment to providing and increasing cash
returns to shareholders, and a commitment to adhering to high ESG
(environmental, social, and governance) standards.”
Reasons to Invest in Yamana
Gold
The LSE listing will provide investors access
and exposure to:
- A large Canadian-based precious
metals producer with significant gold and silver production in
established mining jurisdictions in the Americas and a proven track
record of new discoveries and conversion of mineral resources to
mineral reserves.
- Five high-quality, long-life
producing mines with a production platform of approximately 1
million gold equivalent ounces (“GEO”)(1) expected in 2021 and 2022
within a low production cost structure.
- Strong and increasing free cash
flow along with continued future growth with low near-to-medium
term capital commitments.
- A track record of delivering cash
returns to shareholders with dividends, which to date have
accumulated to over $956 million since dividends were first paid
just over thirteen years ago.
- A strong value proposition based on
industry trading multiples to revenues, cash flows, and enterprise
value.
- A portfolio of well-advanced
development projects, highly prospective exploration properties and
strategic investments throughout the Americas that provide
optionality for value creation via development or asset
monetizations that can further strengthen the financial position of
the Company.
- A commitment to the highest ESG
standards with a long track record of sustainable development and
environmental stewardship in the communities and countries in which
the Company operates.
- A strong balance sheet with a net
debt(2) leverage ratio of 1.0x and trending below 0.5x in the next
few years.
About Yamana Gold Yamana Gold
Inc. 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. Yamana Gold plans to
continue to build on this base through expansion and optimization
initiatives at existing operating mines, development of new mines,
the advancement of its exploration properties and, at times, by
targeting other consolidation opportunities with a primary focus in
the Americas.
FOR FURTHER INFORMATION PLEASE
CONTACT: Investor Relations+1
416-815-02201-888-809-0925Email: investor@yamana.com
Tavistock (UK Public
Relations)Charles Vivian / Emily MossTelephone: +44 7977
297 903 / +44 778 855 4035Email: yamana@tavistock.co.uk
Peel Hunt LLP (Joint UK Corporate
Broker)Ross Allister / David McKeown / Alexander
AllenTelephone: +44 (0) 20 7418 8900
Berenberg (Joint
UK Corporate Broker)Matthew Armitt / Jennifer Wyllie /
Detlir Elezi Telephone: +44 (0) 20 3207 7800
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: This news release contains or incorporates by reference
“forward-looking statements” and “forward-looking information”
under applicable Canadian securities legislation and within the
meaning of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking information includes, but is not
limited to information with respect to the Company’s strategy,
plans or future financial or operating performance including
guidance and liquidity and the Company’s intentions with respect to
listing on the LSE. Forward-looking statements are
characterized by words such as “plan", “expect”, “budget”,
“target”, “project”, “intend”, “believe”, “anticipate”, “estimate”
and other similar words, or statements that certain events or
conditions “may” or “will” occur. Forward-looking statements are
based on the opinions, assumptions and estimates of management
considered reasonable at the date the statements are made, and are
inherently subject to a variety of risks and uncertainties and
other known and unknown factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. These factors include unforeseen
impacts on guidance, liquidity, cash flow, monetization
initiatives, and available residual cash, an inability to maintain
a cash reserve fund balance that can support current or future
dividend increases, the outcome of various planned technical
studies, production and exploration, development, optimizations and
expansion plans at the Company's projects, changes in national and
local government legislation, taxation, controls or regulations
and/or change in the administration of laws, policies and
practices, and the impact of general business and economic
conditions, global liquidity and credit availability on the timing
of cash flows and the values of assets and liabilities based on
projected future conditions, fluctuating metal prices (such as
gold, silver and zinc), currency exchange rates (such as the
Brazilian Real, the Chilean Peso and the Argentine Peso versus the
United States Dollar), the impact of inflation, possible variations
in ore grade or recovery rates, changes in the Company’s hedging
program, changes in accounting policies, changes in mineral
resources and mineral reserves, risks related to asset
dispositions, risks related to metal purchase agreements, risks
related to acquisitions, changes in project parameters as plans
continue to be refined, changes in project development,
unanticipated costs and expenses, higher prices for fuel, steel,
power, labour and other consumables contributing to higher costs
and general risks of the mining industry, failure of plant,
equipment or processes to operate as anticipated, unexpected
changes in mine life, final pricing for concentrate sales,
unanticipated results of future studies, seasonality and
unanticipated weather changes, costs and timing of the development
of new deposits, success of exploration activities, permitting
timelines, government regulation and the risk of government
expropriation or nationalization of mining operations, risks
related to relying on local advisors and consultants in foreign
jurisdictions, environmental risks, unanticipated reclamation
expenses, risks relating to joint venture or jointly owned
operations, title disputes or claims, limitations on insurance
coverage, timing and possible outcome of pending and outstanding
litigation and labour disputes, risks related to enforcing legal
rights in foreign jurisdictions, as well as those risk factors
discussed or referred to herein and in the Company's Annual
Information Form filed with the securities regulatory authorities
in all provinces of Canada and available at www.sedar.com, and
the Company’s Annual Report on Form 40-F filed with the United
States Securities and Exchange Commission. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be
anticipated, estimated or intended. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update forward-looking statements if circumstances or
management’s estimates, assumptions or opinions should change,
except as required by applicable law. The reader is cautioned not
to place undue reliance on forward-looking statements. The
forward-looking information contained herein is presented for the
purpose of assisting investors in understanding the Company’s
expected financial and operational performance and results as at
and for the periods ended on the dates presented in the Company’s
plans and objectives and may not be appropriate for other
purposes.
(All amounts are expressed in United States Dollars unless
otherwise indicated.)
- GEO includes gold plus silver
converted to gold equivalent at a ratio of 86.10 for the guidance
period of 2021-2022.
- A cautionary note regarding
non-GAAP performance measures as well as detailed reconciliations
are included in 'Section 10: Non-GAAP Performance Measures' of the
Company's Management, Discussion and Analysis of Operations
and Financial Conditions, available on the Company's website
at www.yamana.com, and on SEDAR at www.sedar.com.
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