Canadian gold mining firm Yamana Gold has unveiled plans to list its shares on the LSE main market in the next months, widening 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 looking for exposure to gold, noting that the LSE has a limited number of one-million-ounce-a-year-plus pure-play gold miners with operations in established jurisdictions in the Americas.“This is an ideal time to be joining the London market,” says Yamana executive chairperson 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. We have the balance sheet strength to advance these opportunities while continuing to increase shareholder returns, as evidenced by the three increases to our dividend over the past 12 months.”
Yamana’s portfolio of five high-quality, long-life mines includes 50% of the Canadian Malartic mine, in Canada, the Jacobina mine, in Brazil, the El Peñón mine, in Chile, the Cerro Moro mine, in Argentina, and the Minera Florida mine, in Chile.
In 2019, Yamana’s production platform was about one-million gold-equivalent ounces (GEOs) at all-in-sustaining costs below $980/GEO.