Globe Newswire 14-Jan-2019 6:30 AM
TORONTO, Jan. 14, 2019 (GLOBE NEWSWIRE) -- YAMANA GOLD INC. (TSX:YRI, NYSE:AUY) ("Yamana" or "the Company") herein announces that fourth quarter and full year production results for 2018 exceeded production guidance for all metals.
FOURTH QUARTER AND 2018 OPERATIONAL HIGHLIGHTS
|Yamana Mines (1) (excluding
|Fourth Quarter 2018
|Full Year 2018
|2018 Full Year
|GEO(2) Production (oz.)||310,400||1,041,300||1,013,000|
|Gold Production (oz.)||270,200||940,600||920,000|
|Silver Production (m oz.)||3.265||8.023||7.55|
|Copper Production (m lbs.)||39.0||129.0||125.0|
(All amounts are expressed in United States dollars unless otherwise indicated.)
|Mine-by-Mine||Fourth Quarter 2018
|Full Year 2018
|Canadian Malartic (50%)||84,700||348,600|
|Yamana Mines (1)||270,200||940,600|
|Total Yamana (3)||292,500||1,032,900|
|Yamana Mines (1)||3,265,000||8,023,000|
|Copper (m lbs.)|
|(1) Includes production on a pro rata basis for the fourth quarter and full-year of 2018 as the sale of Gualcamayo closed on December 14, 2018.|
WORLD GOLD COUNCIL COST REPORTING
The Company also announces that it has adopted the standard for reporting all-in sustaining costs ("AISC") presented by the World Gold Council ("WGC"). Yamana, along with other companies, worked with the WGC to create a standard for AISC reporting that is expected to result in a consistent reporting of costs for all WGC member companies that adopt the standard. The Company is implementing this change effective for reporting periods after January 1, 2019.
GOLD EQUIVALENT DISCLOSURE
Throughout 2018, the Company provided gold equivalent ounce ("GEO") production and cost metrics that were in addition to detailed information relating to both gold and silver production and costs. Beginning with 2019 guidance and continuing with subsequent financial and operating results reports, Yamana will use GEO metrics for the Company's primary operational statistics.
In order to maintain transparency, the Company will continue to provide detailed operational key performance indicators for gold and silver production as part of its quarterly disclosures within the Management Discussion and Analysis reports filed on SEDAR and EDGAR.
FOURTH QUARTER AND FULL YEAR 2018 FINANCIAL RESULTS RELEASE
The Company will release its complete fourth quarter and full year 2018 operational and financial results after market close on Thursday, February 14, 2019 followed by a conference call and webcast on Friday, February 15, 2019 at 9:00 a.m. ET.
|Fourth Quarter and Full Year 2018 Conference Call Details|
|Toll Free (North America):||1-800-273-9672|
|Toronto Local and International:||416-340-2216|
|Conference Call Replay|
|Toll Free (North America):||1-800-408-3053|
|Toronto Local and International:||905-694-9451|
The conference call replay will be available from 12:00 p.m. ET on February 15, 2019 until 11:59 p.m. ET on March 1, 2019.
Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and, at times, by targeting other gold consolidation opportunities with a primary focus in the Americas.
FOR FURTHER INFORMATION PLEASE CONTACT:
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains or incorporates by reference "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information includes, but is not limited to information with respect to the Company's optimization and expansion plans, strategy, other 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 production and exploration, the impact of declaring commercial production, development and expansion plans at the Company's projects discussed herein being met, the impact of proposed optimizations at the Company's projects, changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration or laws, policies and practices, and 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, the Chilean peso, and the Argentine peso versus the United States dollar), the impact of inflation, possible variations in ore grade or recovery rates, changes in the Company's hedging program, changes in accounting policies, changes in Mineral Resources and Mineral Reserves, risks related to asset disposition, risks related to metal purchase agreements, risks related to acquisitions, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, 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 timelines, government regulation and the risk of government expropriation or nationalization of mining operations, risks related to relying on local advisors and consultants in foreign jurisdictions, environmental risks, unanticipated reclamation expenses, risks relating to joint venture operations, title disputes or claims, limitations on insurance coverage and timing and possible outcome of pending and outstanding litigation and labour disputes, risks related to enforcing legal rights in foreign jurisdictions, as well as those risk factors discussed or referred to herein and in the Company's Annual Information Form filed with the securities regulatory authorities in all provinces of Canada and available at 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.
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