Canadian gold mining firm Yamana Gold has presented plans to list its shares on the LSE’s main market in the coming months, expanding its shareholder base to include European investors.
The company, which is currently listed on the TSX, says it aims to become the «investment of choice» in London for those seeking exposure to gold, noting that the LSE has a limited number of one million ounces per year. -more pure gold miners with operations in established jurisdictions in the Americas.
«This is an ideal time to join the London market,» says Yamana CEO Peter Marrone.
«Yamana is in as strong a position as it has ever been, with a strong and growing cash flow profile, an exceptional portfolio of mines and producing projects and a number of attractive opportunities to grow organically. We have the balance sheet strength to move forward on these opportunities while continuing to increase shareholder returns, as evidenced by the three increases in our dividend in the last 12 months.
«Investing in gold is prudent at any time, but investing in a multi-asset, multi-jurisdictional, substantial, diversified and high-quality gold producer with a strong balance sheet and commitment to pay dividends is even better.
Yamana’s portfolio of five high-quality, long-life mines includes 50% of Canada’s Malartic mine in Canada, the Jacobina mine in Brazil, the El Peñon mine in Chile, the Cerro Moro mine in Argentina and Minera Mina de Florida in Chile.
In 2019, Yamana’s production platform was approximately one million ounces of gold equivalent (GEO) at a total cost of less than $980/GEO.
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