Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, December 10, 2014

Yamana to explore sale of some Brazilian assets in 2015, (NYSE: AUY), (NYSE: HBM), (TSE: HBM.TO), (TSE: YRI.TO)

Yamana Gold Inc said on Wednesday it will place some of its Brazilian assets that have been deemed as non-core into a subsidiary dubbed Brio Gold and that it will explore a potential sale along with other options for the unit in 2015.The Canadian gold miner said it has retained National Bank Financial and CIBC World Markets as financial advisors to assist in the process of evaluating strategic alternatives with respect to Brio Gold.The assets being parceled off into Brio Gold include Fazenda Brasileiro, C1 Santa Luz and Pilar, and its Agua Rica project.In addition, Yamana said it is reassembling the entire Augusta Resource management team under the leadership of Gil Clausen to run Brio. In June, Clausen agreed to sell Augusta that owned the promising Rosemont copper project in Arizona to HudBay Minerals for about C$555 million ($485 million).

Yamana Gold Inc. (Yamana) is a gold producer, engaged in gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Shares of AUY traded higher by 6.7% or $0.27/share to $4.30. In the past year, the shares have traded as low as $3.45 and as high as $10.72. On average, 12257300 shares of AUY exchange hands on a given day and today's volume is recorded at 16698425.

HudBay Minerals Inc. (HudBay) is an integrated mining company. Shares of HBM traded higher by 6.51% or $0.49/share to $8.02. In the past year, the shares have traded as low as $6.95 and as high as $10.98. On average, 69077 shares of HBM exchange hands on a given day and today's volume is recorded at 52081.

HudBay Minerals Inc. (HudBay) is an integrated mining company. Shares of HBM traded higher by 6.37% or $0.55/share to $9.19. In the past year, the shares have traded as low as $7.45 and as high as $11.85. On average, 703956 shares of HBM.TO exchange hands on a given day and today's volume is recorded at 1338290.

Yamana Gold Inc. (Yamana) is a gold producer, engaged in gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Shares of YRI traded higher by 6.05% or $0.28/share to $4.91. In the past year, the shares have traded as low as $3.93 and as high as $11.86. On average, 3429060 shares of YRI.TO exchange hands on a given day and today's volume is recorded at 5757278.



Source