Money flows from working actions generated in Q2 2021 have been $153.5 million, and earlier than internet change in working capital, $167.8 million.
At quarter-end, the corporate had money and money equivalents of $702 million and obtainable credit score of $750 million, for whole obtainable liquidity of roughly $1.5 billion.
Improved money flows and money balances have allowed Yamana to lift its annual dividend to $0.12 per share, representing a virtually 15% enhance from the earlier degree and a cumulative enhance of 500% from Q2 2019.
The stronger financials are reflective of the corporate’s operational outcomes for the quarter. Complete gold-equivalent manufacturing was 241,341 ounces, together with 217,402 gold ounces and 1.63 million silver ounces.
Manufacturing was elevated by the Jacobina and Canadian Malartic mines, each of which reached all-time quarterly highs with 47,503 and 92,106 ounces of gold, respectively.
Minera Florida additionally had a standout quarter, producing 23,813 ounces of gold, whereas El Peñón was forward of plan for the primary half of the 12 months. Cerro Moro additionally reported a big enchancment with gold-equivalent manufacturing of 25,313 ounces.
Given these outcomes, Yamana mentioned it’s on observe to realize its yearly steering of 1 million gold-equivalent ounces, with additional enchancment anticipated within the second half of the 12 months.
In a separate news release on Thursday, the corporate introduced it has made “important progress” on the Section 2 enlargement of Jacobina, with robust exploration outcomes that might increase the operation’s mineral useful resource stock and help the phased enlargement.
Shares of Yamana Gold surged 5.2% by 1 p.m. Toronto time following the Q2 outcomes launch. The corporate has a market capitalization of roughly C$5.5 billion.