Yamana Gold seeks London stock listing to increase access to European investors

Yamana Gold seeks London stock listing to increase access to European investors
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TORONTO — Canadian precious metals miner Yamana Gold Inc. says it is in the advanced stages of listing its shares on the London Stock Exchange.

It is currently listed on the New York Stock Exchange and the Toronto Stock Exchange.

It says a listing in London will increase its exposure to potential European investors who have few other large gold producers to choose from.

It says it does not intend to raise equity capital in conjunction with the new listing.

Yamana has interests in five mines including Canadian Malartic (50 per cent interest), the Jacobina Mine in Brazil, the El Penon and Minera Florida mines in Chile, and the Cerro Moro Mine in Argentina.

It produced about one million gold equivalent ounces in 2019, recording US$1.6 billion in revenue and net earnings of US$226 million at an average gold price of US$1,392 per ounce.

“This is an ideal time to be to be joining the London market,” said executive chairman Peter Marrone.

“Yamana is in as strong a position as it has ever been, with a strong and rising cash flow profile, an outstanding portfolio of producing mines and projects, and a number of compelling opportunities to grow organically.”

This report by The Canadian Press was first published July 20, 2020.

Companies in this story: (TSX:YRI)

The Canadian Press

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