Yamana Gold reports strong FY 2017, Q4 production

|About: Yamana Gold Inc. (AUY)|By:, SA News Editor

Yamana Gold (AUY +3.9%) is higher after reporting FY 2017 production for both gold and copper exceeded its higher guidance levels set in October.

Preliminary 2017 gold production totaled 977K oz. vs. 960K oz. October guidance, and full-year silver output of slightly more than 5M oz. vs. 5M oz. guidance; for Q4, gold production was 259K oz. and silver output was 1.17M oz.

AUY says 2017 production provides a significant production platform which it expects to enhance in 2018 through further operational improvements and with the startup of the high-grade Cerro Moro gold-silver mine.

AUY also says it will receive $125M as part of a new copper advanced sales program in exchange for 40.3M lbs. of copper to be delivered in H2 2018 and H1 2019, representing about a third of planned production during the period.

Subscribe for full text news in your inbox