Seeking Alpha

Yamana Gold misses 2013 output target but sees stronger 2014

  • Yamana Gold (AUY +3.7%) reports FY 2013 production that fell short of its forecasts, blaming the shortfall on problems at new operations that it says had been resolved by year's end.
  • AUY says it produced ~1.2M gold equiv. oz. in 2013 after earlier forecasting production of 1.32M-1.37M; for 2014, it expects to produce 1.4M god equiv. oz., at the low end of its previous forecast of 1.4M-1.5M.
  • AUY says all mines are now producing, which should raise the reliability of production and cost estimates going forward.
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Comments (3)
  • Stock Market Mike
    , contributor
    Comments (2422) | Send Message
     
    If I were a running a company like that, I'd pull as little stuff out of the ground as possible when prices are extremely depressed. Gold prices are expected to rise in 2014, and if they can ship more volume, it should be a good year for them.

     

    Long AUY, GDX, GDXJ, and a bunch of other miners.
    10 Feb 2014, 10:07 AM Reply Like
  • mbd1175
    , contributor
    Comments (18) | Send Message
     
    Good point. Maybe it (the production shortfall) was somewhat intentional, who knows.
    19 Feb 2014, 09:08 AM Reply Like
  • 6151621
    , contributor
    Comments (1180) | Send Message
     
    Did they blame? Or explain. There is a difference SA editors.
    10 Feb 2014, 04:57 PM Reply Like
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