Yamana affirms guidance
Yamana Gold (TSX:YRI; NYSE:AUY; LSE:AUY) said today it had net earnings of $27.0 million or $0.03 per share basic and diluted.
Adjusted net earnings were $69.7 million or $0.07 per share basic and diluted.
Mine operating earnings were $154.0 million and increased quarter-over-quarter by 8%.
The company said it expects to achieve guidance for the year of 1,000,000 gold equivalent ounces.
Total gold production during the quarter was 225,556 ounces, compared to 201,7723 ounces the same period a year ago. The company singled out Canadian Malartic for the lift.
"Canadian Malartic had a strong third quarter in line with plan, after an exceptional second quarter due to higher grade, delivering quarterly production that exceeded plan. Third quarter results benefited from higher grade and recoveries compared to the third quarter of 2020 from ore deeper in the Malartic pit with overall production greatly exceeding the comparative period by 14% due to the prior year's COVID-related temporary challenges," wrote the company.
Yamana Gold is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina.
By Michael McCraeFor Kitco News
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