YAU12 Jan 2012 07:20
ORONTO, ONTARIO--(Marketwire - Jan. 11, 2012) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) ("Yamana" or
"the Company") today provided operational results for the full year 2011 and updated the Company's outlook for
2012 - 2014.
2011 OPERATIONAL HIGHLIGHTS
-- 1.10 million gold equivalent ounces (GEO)(1) of total production for
2011, an increase of 5% from 2010 and within previously provided
guidance.
- El Penon exceeded guidance with 476,000 GEO production for the
year.
- Chapada gold production was 135,000 ounces, in line with
guidance, and Chapada copper production was 166 million pounds,
exceeding guidance and representing an 11% increase from 2010
levels.
- Gualcamayo gold production was 159,000 ounces, in line with
guidance and representing an 18% increase from 2010 levels.
- Jacobina gold production was 122,000 ounces, in line with
guidance, continuing the consistent and predictable performance
of recent years.
-- Cash costs(2) for the full year 2011 were approximately $50 per GEO
after by-product credits, significantly less than previously stated
guidance of less than $250 per GEO.
OUTLOOK HIGHLIGHTS
-- 2012 production is expected to be in the range of 1.2 - 1.3 million GEO,
an increase of 13% versus 2011 levels.
-- 2013 production is expected to be in the range of 1.5 - 1.7 million GEO,
an increase of approximately 43% versus 2011 levels.
-- 2014 production is targeted at a sustainable level of approximately 1.75
million GEO.