Yamana Gold (NYSE:AUY) +3.1% in Friday’s trading after saying it is on track to achieve yearly production and cost guidance, reporting preliminary Q2 silver production of 2.36M oz and gold output of 232.5K oz, with all-in sustaining costs forecast at less than $1,090/oz.
Yamana (AUY) expects to produce a minimum of 1M gold equivalent oz in FY 2022 at an all-in sustaining cost of no more than $1,080/GEO.
“The strong year-to-date gold equivalent production has exceeded budget despite the gold to silver ratio being near an all-time high,” the company said.
The Jacobina mine in Brazil delivered record quarterly gold production of 49,662 oz, with Phase 2 expansion continuing, and the Canadian Malartic, El Peñón and Cerro Moro operations also delivering “standout quarters.”
Yamana (AUY) continues to advance preparations for its bulk sample program at the Wasamac project in Quebec.
Yamana Gold (AUY) is a lower-risk way to buy gold at a discount, Chris DeMuth Jr. writes in a bullish analysis published recently on Seeking Alpha.