| Yamana Gold Announces Equity Agreement Worth C$260.2M - Analyst Blog | |
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Yamana Gold Inc. (AUY) has inked an agreement with a syndicate of underwriters (the Underwriters) led by Canaccord Genuity Corp. and National Bank Financial Markets (the Lead Underwriters). Under the deal, the Lead Underwriters will purchase on a bought deal basis by way of a short form prospectus, 49,100,000 shares of Yamana at C$5.30 per share. The gross proceeds of the deal to Yamana will be C$260.2 million (around $217 million).
As per the agreement, the Underwriters will have an Over-Allotment option to purchase up to an additional 7,365,000 shares at a price of C$5.30 per share, exercisable any time, in whole or in part, until the date that is 30 days after and including the closing date of the offering. In the event of a full exercise of the Over-Allotment Option, the total gross proceeds to Yamana will be roughly C$299.3 million. The net proceeds will be used for general corporate purposes and to pay off debt, while further fortifying the company’s balance sheet. This will enable Yamana to occupy a stronger position in any commodity price environment and improve its ability to deliver future growth. The offering is expected to close on or about Feb 3, 2015 and is subject to the company securing all necessary regulatory approvals. The shares will be offered by way of a short-form prospectus in all of the provinces of Canada. Yamana's shares fell around 12.7% to close at $4.13 yesterday. Yamana is engaged in gold mining and related activities, including exploration, extraction, processing, and reclamation. Yamana remains focused on containing costs, protecting and preserving margins and increasing production to generate, maximize and sustain cash flow. By focusing on approaches and measures that best contribute to cash flow generation, and by demonstrating strong financial performance driven by cash flow generation, the company is expected to deliver value to shareholders.
Yamana currently carries Zacks Rank #3 (Hold). Other companies in the mining space worth considering include Golden Star Resources, Ltd. (GSS), Pretium Resources Inc. (PVG) and Rubicon Minerals Corp. (RBY). All of these stocks hold a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report YAMANA GOLD INC (AUY): Free Stock Analysis Report PRETIUM RES INC (PVG): Free Stock Analysis Report GOLDEN STAR RES (GSS): Free Stock Analysis Report RUBICON MNRLS (RBY): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research
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CODE : RBY |
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Rubicon Min. est une société d’exploration minière d'or basée au Canada. Rubicon Min. détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont RED LAKE MCCUAIG, RED LAKE EAST BAY, RED LAKE NORTH, MCCUAIG, RED LAKE SLATE BAY, RED LAKE DMC, RED LAKE ADAMS LAKE, RED LAKE HUMLIN et RED LAKE PHOENIX GOLD au Canada. Rubicon Min. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 46,5 millions (41,1 millions €). La valeur de son action a atteint son plus haut niveau récent le 03 décembre 2010 à 6,34 , et son plus bas niveau récent le 11 janvier 2016 à 0,03 . Rubicon Min. possède 47 442 200 actions en circulation. |