Canadian gold mining firm, Yamana Gold has revealed plans to list its shares on the London Stock Exchange main market in the coming months, thereby widening its shareholder base to include European investors.
The company, which is presently listed on the TSX, reveals it wants to become the “investment of choice” in London for those who look for exposure to gold and noted that the London Stock Exchange has a small number of one-million-ounce-a-year-plus pure-play gold miners that operates in established jurisdictions in the Americas.
While talking about the development, the Executive Chairperson of Yamana, Peter Marrone said: “This is an ideal time to be joining the London market.
“Yamana is in as strong a position as it has ever been, with a strong and rising cash flow profile, an outstanding portfolio of producing mines and projects, and a number of compelling opportunities to grow organically. We have the balance sheet strength to advance these opportunities while continuing to increase shareholder returns, as evidenced by the three increases to our dividend over the past 12 months.
“Investing in gold is prudent at any time, but investing in a multi-asset, multi-jurisdictional, sizeable and diversified and high-quality gold producer, with a strong balance sheet and a commitment to paying dividends, is better still.”
Yamana’s five high-quality, long-life mines portfolio includes 50% of the Canadian Malartic mine in Canada, the Jacobina mine in Brazil, the Minera Florida mine in Chile, the El Peñón mine in Chile and the Cerro Moro mine in Argentina.
