Yamana Gold ( NYSE: AUY ) +3.1% in Friday's trading after saying it is on track to achieve yearly production and cost guidance, reporting preliminary Q2 silver production of 2.36M oz and gold output of 232.5K oz, with all-in sustaining costs forecast at less than $1,090/oz.
Yamana ( AUY ) expects to produce a minimum of 1M gold equivalent oz in FY 2022 at an all-in sustaining cost of no more than $1,080/GEO.
"The strong year-to-date gold equivalent production has exceeded budget despite the gold to silver ratio being near an all-time high," the company said.
The Jacobina mine in Brazil delivered record quarterly gold production of 49,662 oz, with Phase 2 expansion continuing, and the Canadian Malartic, El Peñón and Cerro Moro operations also delivering "standout quarters."
Yamana ( AUY ) continues to advance preparations for its bulk sample program at the Wasamac project in Quebec.
Yamana Gold ( AUY ) is a lower-risk way to buy gold at a discount, Chris DeMuth Jr. writes in a bullish analysis published recently on Seeking Alpha .
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Yamana Gold on the rise after producing 261K GEO in Q2