Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

BRIEF-Yamana Gold, Glencore And Goldcorp Enter Agreement For Integration Of Agua Rica And Alumbrera

Published 2019-03-07, 08:31 p/m
© Reuters.  BRIEF-Yamana Gold, Glencore And Goldcorp Enter Agreement For Integration Of Agua Rica And Alumbrera
AUYN
-

March 7 (Reuters) - Yamana Gold Inc YRI.TO :

* YAMANA GOLD, GLENCORE AND GOLDCORP ENTER INTO AN AGREEMENT FOR THE INTEGRATION OF AGUA RICA AND ALUMBRERA

* YAMANA GOLD- AGUA RICA PROJECT TO BE DEVELOPED AND OPERATED USING EXISTING INFRASTRUCTURE AND FACILITIES OF MINERA ALUMBRERA LIMITED IN ARGENTINA

* IS EXPECTED THAT A PRE-FEASIBILITY STUDY FOR INTEGRATED PROJECT WILL BE COMPLETED IN 2019

* PARTIES HAVE ESTABLISHED A TECHNICAL COMMITTEE TO DIRECT REVIEW AND EVALUATION OF INTEGRATED PROJECT

* FULL FEASIBILITY STUDY WITH UPDATED MINERAL RESERVE, PRODUCTION AND PROJECT COST ESTIMATES WILL BE COMPLETED BY 2020

* YAMANA GOLD - PARTIES WORKING TOGETHER WITH KEY GOVERNMENT STAKEHOLDERS TO SUPPORT PATH FORWARD FOR EVALUATION AND DEVELOPMENT OF INTEGRATED PROJECT

* YAMANA GOLD- IN RESPECT OF CONTRIBUTION OF PARTIES, CO WILL CONTRIBUTE CURRENT 100% INTEREST IN AGUA RICA PROJECT & ITS 12.5% INTEREST IN ALUMBRERA

* YAMANA GOLD - AGREEMENT REACHED WITH CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO, IN RESPECT TO CAMYEN'S PARTICIPATION IN INTEGRATED PROJECT

* YAMANA GOLD- IN RESPECT OF CONTRIBUTION OF PARTIES , GLENCORE AND GOLDCORP WILL CONTRIBUTE THEIR RESPECTIVE 50% AND 37.5% INTERESTS IN ALUMBRERA

* YAMANA GOLD- INTEGRATION TRANSACTION STRUCTURE WILL BE DETERMINED BASED ON FINAL CONSTRUCTION FINANCING PLAN, WHICH MAY INCLUDE A GOING PUBLIC TRANSACTION

* YAMANA GOLD -INTEGRATION TRANSACTION STRUCTURE MAY INCLUDE COMPLETING A BUSINESS TRANSACTION OR MONETIZATION EVENT INVOLVING ONE OR MORE THIRD PARTIES

* YAMANA GOLD -OWNERSHIP OF PARTIES UPON CONSUMMATION OF AGUA RICA PROJECT INTEGRATION STRUCTURE WILL BE, YAMANA 56.25% , GLENCORE 25% , GOLDCORP 18.75%

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.