Topic: How To Invest

Power Growth Investor Hotline – Friday, July 15, 2022

Article Excerpt

YAMANA GOLD INC., $5.95, is a hold. The miner (symbol YRI on Toronto) owns and operates five gold mines, in Canada, Brazil, Chile and Argentina. This includes the Cerro Moro gold/silver mine in Argentina. It started up in mid-2018. On May 31, 2022, Yamana received a $6.7 billion U.S. takeover offer from South African-based Gold Fields (ADR symbol GFI on New York). Under the terms of the transaction, all of the outstanding Yamana shares would be exchanged at a ratio of 0.6 of a Gold Fields ADR for each share held. Upon closing, Gold Fields shareholders would own 61% of the combined firm, and Yamana shareholders will own 39%. The combination of the two firms will create a company with 14 mines mostly across mining-friendly jurisdictions in North America, South America, Africa and Australia. As well, the combined entity will be the third largest by gold production in 2024, and fourth largest by market capitalization. The new firm will also benefit from the near-term…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.