When a mining company provides an update with regards to its mineral reserves and its mineral resource estimates, then it is generally regarded as important news.
Trading Data
On Tuesday, AUY stock went up 1.70% to $4.19 with more than 10.30 million shares, compared to its average volume of 16.54 million shares. The stock moved within a range of $4.1000 – 4.1975 after opening trade at $4.12.
Yamana Gold Reports Updated Mineral Reserves and Mineral Resources Underpinning Increasing Mine Lives Across Its Portfolio
Yamana Gold Inc (NYSE:AUY) was in the news yesterday after it provided a similar update but it did not lead to any move in the company’s stock, which traded within a range. The update was in relation to the period that had ended on December 31, 2022. One of the more important updates from Yamana Gold was with regards to the gold mineral reserves that it had managed to replace at all of its fully owned operations.
It was noted that the depletion at the operations stood at a combined 130% and that was a significant figure. The company noted that depletion to such a degree is going to make the mines more sustainable and also help with the longevity. On the other hand, the mineral reserves grew for another year at the company’s Jacobina project. It was noted that the gold reserves there stood at 340000 ounces and that reflected year on year growth of as much as 5%. It remains to be seen if there is any movement in the stock today.
Technical Data
AUY stock is above the 20-Day and 50-Day Moving averages of $4.12 and $4.05 respectively. However, the stock is trading above the 200-Day moving average of $4.29. The stock is up 8% in the past month.
