Yamana Gold Exceeds 2019 Production Guidance for All Metals; Jacobina Tops Revised Full Year Guidance; El Peñón Posts Exceptional Quarterly Production
TORONTO, Jan. 15, 2020 (GLOBE NEWSWIRE) -- YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) herein announces fourth quarter and full year preliminary 2019 production results, which
exceeded guidance for gold, silver, and gold equivalent ounces (“GEO”).
FOURTH QUARTER AND FULL YEAR 2019 HIGHLIGHTS
- Strong production momentum continued into the fourth quarter and for the full year 2019 with production results as presented in the tables below.
- Fourth quarter production of 256,288 GEO, including 221,595 ounces of gold and 2.97 million ounces of silver, was above expectations.
- Full year production of 1.02 million GEO(1), including 900,339 ounces of gold, exceeded guidance of 1.01 million GEO(1) and 899,000 ounces of gold.
- Full year silver production of 10.6 million ounces exceeded guidance of 10.0 million ounces.
|Fourth Quarter 2019 Preliminary Production||Full Year 2019 Preliminary Production||2019 Full Year Guidance|
|GEO(1) Production (oz.)||256,288||1,024,454||1,010,000|
|Gold Production (oz.)||221,595||900,339||899,000|
|Silver Production (oz.)||2,967,867||10,640,156||10,000,000|
- Jacobina posted record quarterly production of 41,774 ounces of gold and a further record, all-time high full year production of 159,499 ounces, which is also well above revised guidance of 152,000 ounces set in June 2019 and original guidance of 145,000 ounces.
- El Peñón posted its highest quarterly and yearly production since rightsizing the operation in late 2016. Gold production for the quarter was 48,131 ounces and full year production was 159,515 ounces, well above guidance for 150,000 ounces.
- Canadian Malartic produced 85,042 ounces of gold (50% basis) during the quarter and 334,596 ounces of gold (50% basis) for the year, in both cases well in line with budget.
- Minera Florida produced 20,080 ounces of gold during the quarter, including more than 8,200 ounces in a standout month of December, which represents 50% more ounces than the monthly average in the preceding eleven months, for a total of 73,617 ounces of gold for the year. The Company views the recent performance as indicative of sustainably higher production from Minera Florida during 2020 compared with the last two years.
- Cerro Moro produced 26,568 ounces of gold and 1,584,904 ounces of silver during the quarter, with full year gold production of 120,802 ounces and full year silver production of 6,322,864 ounces. Linear development, which was delayed in the quarter, is expected to improve throughout this year. Silver production exceeded plan although the positive contribution on GEO production was impacted by the higher GEO ratio from the outperformance of the gold price relative to silver price during the year compared to that assumed in guidance. The Company expects a further strong contribution to GEO production from silver at Cerro Moro as gold grades remain flat with silver grades significantly increasing during 2020.
- Production in the month of December overall was a standout at 87,441 GEO representing more than 5% better than budget for the month.
(All amounts are expressed in United States dollars unless otherwise indicated)