Topic: How To Invest

Power Growth Investor Hotline – Friday, November 11, 2022

Article Excerpt

YAMANA GOLD INC., $6.80, 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. However, this week, Yamana received a new joint takeover offer from Pan American Silver Corp. (symbol PAAS on Toronto) and Agnico Eagle Mines Ltd. (symbol AEM on Toronto). Pan American aims to acquire Yamana, and then subsequently sell to Agnico Eagle some of Yamana’s assets, including the Canadian Malartic mine (currently owned 50-50 by Yamana and Agnico Eagle). Pan American will keep Yamana’s other assets, mostly based in Latin America. Under the $4.8 billion U.S….