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AUY - Lundin Mining: A Call Option On The Copper Price
Yamana Gold Inc.
Introduction
Lundin Mining (OTCPK:LUNMF) remains one of the better managed base metal companies as it’s heavily focusing on free cash flow while maintaining a strong balance sheet. The net cash position is subsequently often used to make opportunistic acquisitions when other companies need to sell off assets. And that’s what Lundin did in July as well. It used the $600M+ net cash position to purchase a low-cost mine from Yamana Gold.