Yamana reported 240,718 ounces of gold production in the fourth quarter of 2021, the highest total production from its mines within a quarter. This was due to the planned sequential month-over-month increase in production.
Silver production reached 3.142 million ounces in the fourth quarter due to an increase in production at El Penon mine - which had its strongest production quarter of the year - and the Cerro Moro mine.
Net earnings for the fourth quarter reached $109.7 million, or $0.11 per share. Mine operating earnings were $189.4 million, up 23% from the previous quarter. Cash flow from operating activities in the fourth quarter was at a record high of $238.2 million, which was up 25% quarter-over-quarter.
Yamana Gold also published production guidance for 2022 to 2024 and updated its 10-year outlook.
The company said it was maintaining its 2022 production guidance of 870,000oz of total gold production, 9.5Moz of silver production and 1M oz of total AuEq production, slightly higher than 2021 actual production. The company expected to reach 930,000oz of gold, 9.4Moz silver and 1.06Moz AuEq by 2024.
Its 2022 cost guidance assumed the average year-over-year consolidated cost impact to be in the range of 3% at its wholly owned operations, with cost pressures from inflation anticipated to be moderate as COVID-related supply chain disruptions continue to ease.
On February 17, Yamana Gold traded on the TSX at C$6.12/share, up 5.2% on the day. Its shares rallied strongly in February on the back of positive sentiment, after hovering around the $5 mark for the past three months. Earlier in February, the precious metals producer published updated mineral reserves and resource estimates.
