Why Invest
Why Yamana?
Growth across all key measures
- In resources, production, cash flow
- Prudent and disciplined growth
- Quality and quantity of ounces
Low cost cash producer
- Lowest in the industry
- Commitment to management of capital expenditures, operating costs and cost containment
Sustainability
- Focused high quality asset portfolio in stable mining jurisdictions
- High returning internal growth opportunities
Leverage to gold price
Proven experience
- High performing management and operations teams with depth and track record
Well positioned financially
- Focused on maximizing cash position / cash flow
- Committed to maintaining maximum flexibility to fund growth
Why Gold?
- Gold is fundamentally a currency and in periods of increasing demand for gold the upward price movements can be more rapid and larger than in other currency markets
- Gold serves as a store of wealth
- Gold has functional uses in jewelry and certain industrial applications which distinguishes it from other currencies
- There is a finite amount of gold available unlike paper currencies
- Gold is considered a safe haven during times of geopolitical uncertainty
CEO’s Message
Yamana was formed in mid-2003 and in just over six years the profile of the company has changed dramatically. Not only have we grown thirteen-fold in terms of production, we have grown from 12 employees to over 9,300 employees, from one to seven producing mines and from operating in select parts of one country to a mining platform in various countries across the Americas.
Our objective in 2009 was to create consistency and reliability in our operations with sustainable precious metals production at low cash costs. We set forth to establish an initial sustainable production level of approximately 1.1 million gold equivalent ounces as we also undertook the construction of new mines and advanced additional projects that are expected to ultimately increase that sustainable production level over the next few years.
We have meaningful organic production growth from well-defined development stage projects which are expected to begin producing sequentially in 2012. These four projects are expected to contribute an additional, approximately, 400,000 gold equivalent ounces annually. Production in 2012 is expected to be approximately 1.3 million gold equivalent ounces as these new projects commence operations, with an expected run rate of 1.5 million gold equivalent ounces by the end of 2012.
Exploration successes in 2009 led us to the discovery of new mineralized zones at existing mines and entirely new discoveries. We should expect this to provide a springboard into 2010 and the years to follow.
In 2010, we plan to add meaningfully to resources at new discoveries, in addition to resource and reserve increases at existing mines, while maintaining our steadfast resolve toward the commitments that have defined us to date.
We are uniquely positioned and well leveraged to precious metals with production growth entirely in precious metals, low cash costs and operations in some of the world's most stable mining jurisdictions. We have a superior portfolio of assets, significant near-term organic growth and a world-class team - a team with an entrepreneurial spirit, operational depth and the desire to excel. This is what distinguishes Yamana from other companies.