Gold News

Yamana produces 116,000 ounces of gold in Q2

Canadian gold producer Yamana Gold has announced operational highlights for the second quarter of 2007, revealing total gold production of around 116,000 ounces.

This figure was composed of 44,000 ounces from Chapada and 25,000 ounces from Sao Francisco, with the rest coming from San Andres, Fazenda Brasileiro and Jacobina.

As well as this, the company has confirmed its previous announcement that most of this year's production is expected in the second half of the year.

Average net gold prices for gold sold during the three months was around $665 per ounce, meaning that Yamana's operations provided a gross margin per ounce of $1,130.

At Jacobina, where production was around 12,000 ounces, operations resumed on a gradual basis incorporating various additional safety protocols. Production is expected to increase further as the year progresses.

As of the end of last year, proven and probable reserves at Jacobina were estimated at 1.2 million ounces.


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