MRQRF - Yamana Gold buys Monarch Gold assets in C$152M deal

Yamana Gold (AUY) agrees to acquire the Wasamac and Camflo assets in Quebec's Abitibi region from Monarch Gold (MRQRF) for C$152M in cash and shares.Yamana says the Wasamac underground gold project, which is ~100 km from its 50%-owned Canadian Malartic mine, fits well into its exploration and development strategy.The company says geological characteristics of the Wasamac ore body suggests the potential for an underground mine of the same scale, grade, production and costs as its Jacobina mine in Brazil.The Wasamac project has existing proven and probable mineral reserves of 1.8M oz. of gold at 2.56 g/t.Yamana Gold last week reported better than expected Q3 adjusted earnings and its highest operating cash flows since 2015, rising more than 300% Y/Y.

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Yamana Gold buys Monarch Gold assets in C$152M deal