NYBob
2年前
Gold Fields to Acquire Yamana Gold
Transaction creates a top-4 global gold major with a diversified portfolio of high-quality, long-life assets with tangible near and long-term growth opportunities
Strengthened financial and operational capacity with complementary cash flow and growth profiles
Combined Group will be headquartered in Johannesburg with operations across South Africa, Ghana, Australia, Canada and South America
All-share offer by Gold Fields at an Exchange Ratio of 0.6 Gold Fields Consideration Shares for each Yamana share implying a valuation for Yamana of US$6.7 billion
JOHANNESBURG AND TORONTO, May 31, 2022 (GLOBE NEWSWIRE) --
Gold Fields Limited (JSE, NYSE: GFI) (“Gold Fields”) and Yamana Gold Inc. (TSX:YRI; NYSE:AUY; LSE:AUY) (“Yamana”), today announced that they have entered into a definitive agreement (the “Arrangement Agreement”), under which Gold Fields will acquire all of the outstanding common shares of Yamana (“Yamana Shares”) pursuant to a plan of arrangement (the “Transaction”).
Gold Fields to Acquire Yamana Gold – a Combination for Long-term Value Creation Focused on Quality Growth, Financial Discipline and Shareholder Returns
$In GOD We Trust - Real Money - AU Safety 6000yrs )
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Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
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GOLD STANDARD; THE REAL LEGAL MONEY:
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God Bless
NYBob
3年前
$RS thanks; Globex to Sell Francoeur/Arntfield/Lac Fortune Gold Property
to Yamana Gold Inc. for +$15 Million
Rouyn-Noranda, Quebec, Canada.
https://www.globexmining.com/staging/admin/news_pdfs/2021-06-14%20Globex%20sells%20Francoeur_Arntfield_Lac%20Fortune%20Gold%20Property.pdf
GLOBEX MINING ENTERPRISES INC. (GMX –
Toronto Stock Exchange,
G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock
Exchanges and GLBXF – OTCQX International in the USA) is pleased to inform shareholders that it has
entered into a definitive Purchase Agreement to sell the Francoeur/Arntfield/Lac Fortune gold property to
Yamana Gold Inc. (TSX:YRI; NYSE:AUY; LSE:AUY).
The property, located in Abitibi, Québec, adjoins Yamana’s
Wasamac Gold Mine project on which Yamana is currently working in order to advance to production.
The Globex property includes a number of former gold mines and areas of excellent gold exploration potential.
Exploration by Globex has demonstrated the potential for finding additional areas of significant gold
mineralization.
In addition to the Francoeur/Arntfield/Lac Fortune property, as part of the transaction
Yamana will acquire 30 claims in Beauchastel township to the east of the Wasamac Gold Mine property and
three claims in Malartic township from Globex.
Under the Purchase Agreement, Globex will receive the following cash and share payments from Yamana:
Upon closing of the transaction: $4,000,000, which will be satisfied by Yamana issuing 706,714 shares to
Globex at a deemed price of $5.66 per share. Based on the closing price of Yamana’s shares on the
Toronto Stock Exchange on Friday, June 11, 2021 of $6.22, the 706,714 Yamana shares have a current
market value of $4,395,761.08;
On: - first anniversary of closing: $3,000,000 in cash
- second anniversary of closing: $2,000,000 in cash
- third anniversary of closing: $3,000,000 in cash
- fourth anniversary of closing: $3,000,000 in cash
Based on Yamana’s current trading price, the total cash and share consideration is $15,395,761.08, of which
Globex will receive $7,395,761.08 in cash and shares within the first year.
Globex may elect to receive one or more of the four anniversary payments in Yamana shares.
If Globex so
elects, the number of shares issued by Yamana will be based on the volume weighted average trading price
of Yamana’s shares for the five trading days immediately preceding the date of payment.
In addition, Globex will retain a 2% Gross Metal Royalty on all mineral production from the
Francoeur/Arntfield/Lac Fortune property and the 30 Beauchastel and three Malartic township claims, of
which 0.5% may be purchased by Yamana for $1,500,000.
LEGAL*53348308.2
2
Yamana has agreed to assume payment of the three underlying royalties on the properties and will make a
final environmental bond payment of $223,633.50 currently due by Globex on the Francoeur Mine in
July 2021, after which Globex will transfer the bond to Yamana.
Globex is pleased to have entered into the Purchase Agreement with Yamana, which will provide Globex with
revenue for the next four years as well as a significant royalty stream should a mineral deposit on the property
package enter into production.
Closing of the sale, which is expected to take place on June 21, 2021, is conditional upon regulatory approval
and standard closing conditions.
This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified
Person (Q.P.) under NI 43-101.
We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b)
CUSIP Number 379900 50 9
LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
info@globexmining.com
http://www.globexmining.com
Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve
a number of known and unknown risks and u
https://www.globexmining.com/staging/admin/news_pdfs/2021-06-14%20Globex%20sells%20Francoeur_Arntfield_Lac%20Fortune%20Gold%20Property.pdf
In GOD We Trust - Real Money -
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Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
NYBob
5年前
Yamana Gold Inc.: This Gold Mining Stock Just Raised its Dividend Again
By Jing Pan, B.Sc., MA | December 20, 2019
A Dividend Stock You Likely Haven’t Considered
For the most part, gold mining stocks aren’t exactly known as the go-to choice for income investors. But when a gold mining company delivers two massive dividend hikes within a few months, I’d say it deserves attention.
The company in question is Yamana Gold Inc. (NYSE:AUY), a precious metals producer headquartered in Toronto, Ontario, Canada.
Canada is known for having some of the biggest gold mining companies in the world, and Yamana is one of them. In 2019, the company was expecting to produce 899,000 ounces of gold, 10 million ounces of silver, and 61 million pounds of copper. (Source: “Our Million: to mine precious metals profitably and responsibly,” Yamana Gold Inc., last accessed December 16, 2019.)
Other than running a substantial precious metals production business, Yamana Gold also has exploration properties, development-stage properties, and land positions in Argentina, Brazil, Canada, and Chile.
On July 25, Yamana Gold announced a quarterly dividend rate of $0.01 per share, starting with its third-quarter payment. The amount represented a 100% increase from its prior quarterly dividend rate of $0.005 per share. (Source: “Yamana Announces a 100% Increase to Its Dividend and Declares Third Quarter Dividend,” Yamana Gold Inc., July 25, 2019.)
Doubling one’s payout is truly impressive, but the company is not done yet.
On December 16, Yamana Gold announced another 25% increase to its quarterly dividend rate to $0.0125 per share, bringing its annualized rate to $0.05 per share. (Source: “Yamana Gold Announces a Further 25% Dividend Increase and Establishes a New Dividend Policy to Ensure the Sustainability of Dividends,” Yamana Gold Inc., December 16, 2019.)
The new rate will come into effect in the first quarter of 2020. So in just a few months, AUY stock’s per-share payout has grown by 125%.
With Yamana Gold stock trading at $3.63 per share, the company has a forward yield of 1.1%.
And this could be just a start.
In the company’s latest dividend increase press release, Yamana Gold said, “These initial two increases are part of a gradual and progressive approach to dividend increases as the Company’s cash balances continue to grow from increasing free cash flow and successful and continuing initiatives to monetize its portfolio of non-producing assets and financial instruments.” (Source: Ibid.)
Furthermore, the company will start to report dividends on a per-gold-equivalent ounce (GEO) of production basis. Thanks to the latest dividend hike, Yamana Gold’s dividend level is brought to $50.00 per GEO of production.
Yamana Gold Inc.’s Dividend Hikes Backed by Growing Business
As you’d expect from those substantial payout increases, business has been booming at Yamana Gold Inc. Just take a look at the company’s latest earnings report and you’ll see what I mean.
In the third quarter of 2019, Yamana Gold generated adjusted earnings of $49.5 million, or $0.05 per share. The amount more than doubled the adjusted net earnings of $23.6 million, or $0.02 per share earned in the year-ago period. (Source: “Yamana Gold Reports Third Quarter Cash Flows From Operating Activities of $157.4 Million, Increases Earnings, and Lowers Debt; Cash Flows Significantly Exceed the Average of the Three Preceding Quarters,” Yamana Gold Inc., October 24, 2019.)
The company also substantially improved its ability to generate cash. In the reporting quarter, Yamana Gold generated $157.4 million in cash flow from operating activities. To put that in perspective, the amount was 72% higher than the average operating cash flow over the previous three quarters.
Of course, as a gold mining company, Yamana Gold Inc has exposure to the price of gold. However, because of the company’s efficient operations, it should be able to stay profitable even if precious metals prices fall. And if their prices go up—a scenario that could happen if uncertainty increases—the company would be making even bigger profits.
In the third quarter, Yamana Gold achieved a cash cost of $678.00 per GEO and an all-in sustaining cost of $1,039 per GEO. In comparison, the yellow metal is trading around $1,480 per ounce at the time of this writing.
For income investors who want to get some exposure to gold, AUY stock could be an opportunity.