 | Yamana Gold Inc. - YRI.t operates significant gold production, development, and exploration properties in Brazil, Argentina, Chile, Mexico and Colombia. The Company expects production of approximately 1.23m to 1.31m gold at AISC of $ 800 and silver production of 6.9m to 7.2m at $ 10.20 |  |
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OPERATIONAL HIGHLIGHTS
- Total gold production of 308,061 million ounces at by-product cash costs(1) and all-in sustaining costs ("AISC")(1,3) per ounce of
$590 and$804 , respectively. - Silver production of approximately 1.9 million ounces at co-product cash costs and AISC per ounce of
$7.71 and$10.64 , respectively. - Copper production of 25.9 million pounds at co-product cash costs and AISC per pound of
$1.54 and$1.85 , respectively.
- Revenue(4) of
$430.3 million , a decrease of$27.8 million compared to the first quarter of 2015 due to lower metal prices and planned lower silver and copper production. - Net earnings(4) of
$38.4 million or$0.04 per share, an increase of$173.6 million or$0.19 per share compared to the first quarter of 2015. - Adjusted earnings(1,4) of
$28.8 million or$0.03 per share, an increase of$66.3 million or$0.07 per share compared to the first quarter of 2015. - Mine operating earnings of
$90.0 million , an increase of$51.9 million compared to first quarter of 2015. - Cash flows from operating activities after net change in working capital of
$122.8 million or$0.13 per share, an increase of$108.4 million or$0.11 per share compared to the first quarter of 2015. - Cash flows from operating activities before net change in working capital (1) of
$128.1 million or$0.14 per share, an increase of$32.1 million or$0.03 per share compared to the first quarter of 2015. - General and administrative expenses of
$21.8 million , a decrease of$5.5 million compared to the first quarter of 2015.
| (All amounts are expressed in United States dollars unless otherwise indicated.) | |
| 1. | Refers to a non-GAAP measure. Reconciliation of non-GAAP measures are available at www.yamana.com/Q12016. |
| 2. | Net Free Cash Flow is calculated as cash flows from operating activities of continuing operations adjusted for non-discretionary expenditures from sustaining capital expenditures and interest and financing expenses paid related to the current period. |
| 3. | Includes cash costs, sustaining capital, corporate general and administrative expense and exploration expense. |
| 4. | From continuing operations attributable to Yamana equity holders. |
KEY STATISTICS
| Three Months Ending Mar 31st | ||||
| (In millions of United States Dollars except for shares and per share amounts, unaudited) | 2016 | 2015 | ||
| Revenue | 430.3 | 458.1 | ||
| Cost of sales excluding depletion, depreciation and amortization | (232.8 | ) | (282.1 | ) |
| Depletion, depreciation and amortization | (107.5 | ) | (137.9 | ) |
| General and administrative expenses | (21.8 | ) | (27.3 | ) |
| Exploration and evaluation expenses | (3.1 | ) | (5.4 | ) |
| Mine operating earnings | 90.0 | 38.1 | ||
| Net earnings/(loss) from continuing operations | 38.4 | (135.2 | ) | |
| Net earnings/(loss) from continuing operations per share | 0.04 | (0.15 | ) | |
| Adjusted earnings/(loss) from continuing operations | 28.8 | (37.5 | ) | |
| Adjusted earnings/(loss) from continuing operations per share | 0.03 | (0.04 | ) | |
| Cash flow generated from continuing operations after changes in non-cash working capital | 122.8 | 14.4 | ||
| Per share | 0.13 | 0.02 | ||
| Cash flow from operations before changes in non-cash working capital | 128.1 | 96.0 | ||
| Per share | 0.14 | 0.11 | ||
| Average realized gold price per ounce | 1,189 | 1,217 | ||
| Average realized silver price per ounce | 14.94 | 16.74 | ||
| Average realized copper price per pound | 2.25 | 2.89 | ||
| Three Months Ending Mar 31st | ||
| 2016 | 2015 | |
| Gold produced | 308,061 | 299,108 |
| Gold sold | 299,877 | 296,167 |
| Silver produced (millions of ounces) | 1.93 | 2.48 |
| Silver sold (millions of ounces) | 1.88 | 2.44 |
| Copper produced - Chapada (millions of pounds) | 25.9 | 26.8 |
| Copper sold - Chapada (millions of pounds) | 22.7 | 26.7 |
| Three Months Ending Mar 31st | ||
| Gold | 2016 | 2015 |
| Cash costs per ounce | $590 | $651 |
| Co-product cash costs per ounce | $604 | $699 |
| All-in sustaining costs per ounce | $804 | $889 |
| All-in sustaining costs per ounce, co-product basis | $786 | $898 |
| Silver | 2016 | 2015 |
| Cash costs per ounce | $7.44 | $7.46 |
| Co-product cash costs per ounce | $7.71 | $8.08 |
| All-in sustaining costs per ounce | $10.64 | $11.01 |
| All-in sustaining costs per ounce, co-product basis | $10.42 | $11.05 |
| Cash costs per pound of copper - Chapada | $1.54 | $1.82 |
| All-in sustaining costs per pound of copper - Chapada | $1.85 | $2.14 |
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http://canadastockjournal.blogspot.com/2016/05/yamana-gold-inc-yrit.html
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