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Yamana Gold announces Q4 and full year 2018 results

Mining News - Published on Mon, 18 Feb 2019

Image Source: MINING.com
YAMANA GOLD INC is herein reporting its financial and operational results for the Q4 and full year 2018, and its Mineral Reserve and Mineral Resource estimates as at December 31, 2018.

Q4 HIGHLIGHTS

Gold equivalent ounce production from Yamana Mines for the fourth quarter was 310,369, including 270,193 ounces of gold and 3.26 million ounces of silver. Total Yamana gold production was 292,484 ounces. The Company also produced 39.0 million pounds of copper.

Full year GEO production from Yamana Mines was 1,041,350, including 940,619 ounces of gold and 8.02 million ounces of silver. Full year copper production was 129.2 million pounds.

Full year gold and copper production from Yamana Mines exceeded the higher guidance levels set in October of last year while full year silver production exceeded the lower guidance provided at that time. Original guidance set in February 2018 was for 900,000 ounces of gold, 120 million pounds of copper and 8.15 million ounces of silver.

Fourth quarter costs for Yamana Mines included all-in sustaining costs on a by-product basis of $656 per GEO; cash costs on a by-product basis of $418 per GEO; and total cost of sales of $1,019 per GEO. Full year costs for Yamana Mines included AISC on a by-product basis of $699 per GEO; cash costs on a by-product basis of $448 per GEO; and total cost of sales of $1,028 per GEO, which was in line with or better than guided ranges for the cost metrics. Refer to page 18 of this press release for additional information on costs by metal on a co-product and by-product basis. Going forward, reported cost metrics and cost guidance will reflect a change to the presentation methodology. Specifically, the Company, as an active member of the World Gold Council, has adopted the updated version of the Guidance Note on AISC, among other changes, that are detailed in Section 2 of the Company’s fourth quarter 2018 Management’s Discussion & Analysis, which has been filed on SEDAR. In the Company’s 2019-2021 Outlook press release, issued on February 14, 2019, cost metrics for 2018 have been restated for the updated methodology to facilitate direct comparisons.

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Posted By : Rabi Wangkhem on Mon, 18 Feb 2019
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