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AUY - The Yamana Gold-Lundin Mining Deal: Lundin Looks Like The Winner
Yamana Gold Inc.
On April 15, Yamana Gold (AUY) and Lundin Mining (LUNMF) announced a deal that helps Yamana to improve its balance sheet significantly, while it enables Lundin Mining to utilize its huge cash pile. Lundin Mining will acquire Yamana's Brazilian copper-gold mine named Chapada. Yamana will receive cash consideration of $800 million and further contingent considerations of up to $225 million ($125 million related to the price of gold and $100 million related to the potential pyrite roaster construction). Moreover, Yamana will retain a 2.0% NSR royalty on any future gold production