Yamana Gold Hosts Annual Analyst and Investor Day and Provides Third Quarter 2009 Operational Update
06 10월 2009 - 8:00PM
PR Newswire (US)
TORONTO, Oct. 6 /PRNewswire-FirstCall/ -- YAMANA GOLD INC.
(TSX:YRI; NYSE:AUY; LSE:YAU) will be hosting its annual analyst and
investor day on October 7, 2009 to provide further information on
its core mining operations and projects. In addition, the Company
will discuss preliminary third quarter 2009 operational results.
Estimated total production for the third quarter of 2009 was a
record of approximately 314,200 gold equivalent ounces (GEO),
representing a nine percent and 16 percent increase from the second
quarter and first quarter of 2009, respectively.
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TOTAL PRODUCTION (GEO)* Q3 2009
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Chapada 34,900 El Penon 108,800 Gualcamayo 39,200 Jacobina 30,950
Fazenda Brasileiro 20,450 Minera Florida 25,400 Alumbrera 10,000
Other 44,500
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TOTAL 314,200
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* (Yamana treats silver as a gold equivalent at a ratio of 55:1.)
Production in the third quarter increased most significantly at El
Penon and Gualcamayo. El Penon production in the third quarter of
2009 increased to approximately 108,800 GEO, representing an 18
percent and 29 percent increase compared to the second quarter and
first quarter of 2009, respectively. Grade at El Penon also
increased in the third quarter by 10 percent and 19 percent
compared to the second and first quarter of 2009, respectively.
Third quarter production at Gualcamayo increased to approximately
39,200 ounces of gold, representing a 61 percent and 91 percent
increase compared to the second quarter and first quarter of 2009,
respectively. Production also increased at Jacobina and Minera
Florida. Jacobina production of approximately 30,950 ounces in the
third quarter represents a 12 percent and 14 percent increase
compared to the second and first quarter of 2009, respectively.
Minera Florida production of approximately 25,400 GEO in the third
quarter represents an 11 percent and 32 percent increase compared
to the second quarter and first quarter of 2009, respectively. The
Company anticipated changes in the mill liners and motor
replacement at Chapada in the third quarter of 2009. Production was
in line with expectations given maintenance activities. Co-product
cash costs for Yamana's six core mines in the third quarter of 2009
are in line with previously provided annual guidance of US$345 to
US$375 per GEO. By product cash costs for 2009 are expected to be
below US$200 per GEO. Preliminary cost data shows Gualcamayo cash
costs for the third quarter of 2009 below US$350 per ounce, which
is significantly below previous guidance of below US$450 per ounce.
Complete cash costs details will be provided with Yamana's full
third quarter 2009 earnings release. To access the audio webcast
and download presentation slides for Yamana's Analyst and Investor
Day, please visit http://www.yamana.com/. The presentation will
begin on Wednesday, October 7th, 2009 at 9:00 a.m. to 12:00 p.m.
E.T. About Yamana Yamana is a Canadian-based gold producer with
significant gold production, gold development stage properties,
exploration properties, and land positions in Brazil, Argentina,
Chile and Mexico. The Company plans to continue to build on this
base through existing operating mine expansions and throughput
increases, the advancement of its exploration properties and by
targeting other gold consolidation opportunities in the Americas.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news
release contains or incorporates by reference "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Except for statements of historical fact
relating to the Company, information contained herein constitutes
forward-looking statements, including any information as to the
Company's strategy, plans or future financial or operating
performance. 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 the Company's expectations in connection with the projects
and exploration programs discussed herein being met, 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, copper, silver and zinc),
currency exchange rates (such as the Brazilian Real and the Chilean
Peso versus the United States Dollar), possible variations in ore
grade or recovery rates, changes in the Company's hedging program,
changes in accounting policies, changes in the Company's corporate
resources, risk related to non-core mine dispositions, changes in
project parameters as plans continue to be refined, changes in
project development, construction, production and commissioning
time frames, risk related to joint venture operations, the
possibility of project cost overruns or 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 time lines, government regulation of mining
operations, environmental risks, unanticipated reclamation
expenses, title disputes or claims, limitations on insurance
coverage and timing and possible outcome of pending litigation and
labour disputes, as well as those risk factors discussed or
referred to in the Company's annual Management's Discussion and
Analysis and Annual Information Form for the year ended December
31, 2008 filed with the securities regulatory authorities in all
provinces of Canada and available at http://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.
DATASOURCE: Yamana Gold Inc. CONTACT: Letitia Wong, Director,
Investor Relations, (416) 815-0220, Email: ; MEDIA INQUIRIES:
Mansfield Communications Inc., Hugh Mansfield, (416) 599-0024
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