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Jul 29, 2022

Yamana Gold sees profit jump in Q2, set to achieve its 2022 guidance

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Yamana Gold Inc. reported net earnings attributable to Yamana equity holders of US$72.1 million in its latest quarter, a big jump from the year before.

The Toronto-based mining company posted net earnings per share, basic and diluted, of seven cents in the second quarter, compared to a net loss of US$43.9 million or five cents per share in the second quarter of 2021.

It saw revenue of US$485.6 million in the second quarter, compared to US$437.4 during the same time last year.

Yamana Gold says production totalled 260,960 gold equivalent ounces, with gold production of 232,542 ounces and silver production of 2,356,853 ounces.

It says the standout production results, combined with the low-cost performance, delivered strong cash flow generation, including US$187.8 million in cash flows from operating activities and $195.9 million in cash flows from operating activities before net change in working capital.

Yamana Gold says with its solid results across its operations, the company is well positioned to achieve its guidance for the year in both production and all-in sustaining costs.