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BRIEF-Yamana Gold Says Withdrawing Its 2020 Guidance For Production And Costs

Published 2020-03-24, 10:08 p/m
© Reuters.
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March 24 (Reuters) - Yamana Gold Inc YRI.TO :

* DECISION TO RAMP DOWN OPERATIONS AT CANADIAN MALARTIC MINE

* CO WITHDRAWING ITS 2020 GUIDANCE FOR PRODUCTION AND COSTS

* YAMANA GOLD - OPERATION WILL BE ON CARE AND MAINTENANCE AND MINIMAL WORK WILL BE TAKING PLACE UNTIL DATE SPECIFIED IN ORDER

* YAMANA GOLD - RETURN TO FULL CAPACITY AT CANADIAN MALARTIC EXPECTED TO OCCUR IN EXPEDITED MANNER AS SOON AS TEMPORARY RESTRICTION LIFTED

* CO DREW DOWN $200 MILLION OF ITS $750 MILLION REVOLVING CREDIT FACILITY IN MARCH 2020

* YAMANA GOLD - OTHER MINES, REPRESENTING ABOUT 67% OF CO'S 2020 PRODUCTION OUTLOOK , CONTINUE OPERATING IN LINE WITH PRODUCTION TARGETS FOR YEAR

* CO EXPECTS TO PRODUCE APPROXIMATELY 190,000 GOLD OUNCES & APPROXIMATELY 2.7 MILLION SILVER OUNCES IN THE FIRST QUARTER

* NO PLANS TO UTILIZE FUNDS DRAWN DOWN CURRENTLY, NO PENDING SCHEDULED DEBT REPAYMENT OR SIGNIFICANT CAPITAL COMMITMENTS

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