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Yamana Gold Update on Projects-The 21st China (Guangzhou)Int’l Fastener & Equipment Exhibition
3/3/2020 紧固件展-紧固件采购会-国际紧固件展-fastener expo |
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Yamana Gold Inc has provided an update on its generative exploration program whose primary objective is to advance the Company’s pipeline of highly prospective exploration projects. The Company has built large land positions in all countries where it has producing assets, and it is pursuing exploration projects in these countries that are at different stages of advancement. Investing prudently and responsibly in these projects today will ensure Yamana maintains its status as a dominant gold company while continuing to grow and meet its corporate objective to maximize free cash flow. The Company will also continue to invest in near-mine exploration to extend the lives of its current operations, including the Canadian Malartic underground project, and advance the Agua Rica project to feasibility study. The generative exploration program will allow the Company to target a number of other advanced and advancing opportunities in its portfolio and help lay the foundation for the next generation of Yamana mines in the coming decade.
The following are key elements and objectives of the generative exploration program:
Target the Company’s most advanced exploration projects while retaining the flexibility to prioritize other projects in the portfolio as and when merited by drill results.
Add new inferred mineral resources of at least 1.5 million ounces of gold equivalent within the next three years to move at least one project towards a preliminary economic assessment.
On a longer term basis, advance at least one project to a mineral inventory that is large enough to support a mine plan demonstrating positive economics with annual gold production of approximately 150,000 ounces for at least eight years.
Advance both gold-only and copper-gold projects and, in the latter case, consider joint venture agreements aimed at increasing mineral resource and advancing the project to development while Yamana maintains an economic interest in the project.
The Company expects to invest approximately $53 million in the program over the next three years, with $14 million budgeted for 2020, $18 million budgeted for 2021, and $21 million for 2022. Funding will be derived primarily from proceeds from monetizations of non-cash producing assets and, where applicable, flow-through funding agreements. The Company also expects to derive funding from expected joint venture opportunities, particularly for copper-gold projects. For information on exploration budgeting related to the Company’s core assets, please refer to the press release issued February 13, 2020, titled: ‘Yamana Gold Provides 2020-2022 Outlook.’
紧固件展-2020第二十一届广州国际紧固件及设备展览会-巨浪展览
-The 21st China (Guangzhou)Int’l Fastener & Equipment Exhibition
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