Loading ...TORONTO, July 25, 2019 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) is herein reporting its financial and operational results for the second quarter 2019. Second quarter results include strong gold and silver production highlighted by a second straight quarter of record production at Jacobina. Additional highlights include:
- A 7% year-on-year increase in GEO(1) (2) production to 257,556, including 232,863 ounces of gold and 2.17 million ounces of silver.
- In-line cost guidance, including all-in sustaining costs (“AISC”)(3) of $941 per GEO and cash costs(3) of $670 per GEO.
- Net earnings attributable to Yamana equity holders of $14.1 million or $0.01 per share basic and diluted. Adjusted net earnings(3) were $19.8 million or $0.02 per share basic and diluted.
- Cash flow from operating activities of $147.6 million and cash flows from operating activities before net change in working capital(3) of $156.0 million.
- Increase in free cash flow as follows:
| Three months ended June 30 | ||||||
| (In millions of United States Dollars) | 2019 | 2018 | ||||
| Net Free Cash Flow(3) | $ | 122.9 | $ | 48.0 | ||
| Free Cash Flow before Dividends and Debt Repayments(3) | $ | 51.2 | $ | (41.7 | ) | |
| Decrease (Increase) in Net Debt(3) | $ | 13.1 | $ | (38.6 | ) | |
The Company continues to anticipate a strong second half and remains on track to meet its 2019 guidance.
“This was one of the more important and exciting quarters in Yamana’s history,” said Daniel Racine, President and Chief Executive Officer of Yamana. “We have embarked on a new era, significantly improving our balance sheet and financial flexibility, which will allow us to pursue our organic growth opportunities at a time when the metal price cycle appears to be turning.”