Jaime Carrasco discusses Yamana Gold
TORONTO -- Canadian precious metals miner Yamana Gold Inc. says its shares will begin trading next week on the London Stock Exchange.
The Toronto-based company is currently listed on the New York Stock Exchange and the Toronto Stock Exchange.
Trading will begin Tuesday under the stock symbol AUY.
The company says the listing will give British and European investors exposure to a pure-play senior gold producer with a portfolio of assets in mining-friendly jurisdictions in the Americas.
It says there are few producers with at least one million ounces of annual production.
Yamana has interests in five mines, including Canadian Malartic (50 per cent interest), the Jacobina Mine in Brazil, the El Penon and Minera Florida mines in Chile, and the Cerro Moro Mine in Argentina.
"We are coming to London at an auspicious time for our company," said founder and executive chairman Peter Marrone.
"We are at a stage in our development as a company at which we are focused on internally funded organic growth, and our capital allocation strategy supports robust and increasing cash returns to shareholders."
Yamana produced about one million gold equivalent ounces in 2019, recording US$1.6 billion in revenue and net earnings of US$226 million at an average gold price of US$1,392 per ounce.