Jan 9 Canadian miner Yamana Gold Inc
estimated fourth-quarter production of about 322,800 gold
equivalent ounces (GEO), and lowered its gold production
forecast for 2013.
The mid-tier gold miner now expects to produce about 1.44
million to 1.60 million GEO this year.
The company, had earlier forecast production of 1.48 million
to 1.66 million GEO, with a target level exceeding 1.5 million
Yamana is eyeing Cerro Moro, a project in Argentina it
acquired as part of its C$413 million ($412.81 million) takeover
of Extorre Gold Mines Ltd last year, as its next major
development project. An exploration and development plan for the
project is due early this year.
The company said capital spending for 2013 is expected to be
Shares of the Toronto-based company, which has a market
value of about C$12.28 billion, closed at C$16.32 on Wednesday
on the Toronto Stock Exchange.