Been doing quite a bit of research on this company aided by an online pal Sharebear. The company looks very interesting from initial observations and with POG on the up and up and Gold experts predicting it will hit $425 post xmas, this company could face a very interesting and exciting future.

The epic is not yet known, on the Toronto stock exchange the epic is YRI.TO and this is the principal market.

The best thing about Yamana is that it is actualy digging the gold out of the ground and selling it on the markets of the world, it also has exploration operations going on in several areas and here is the big plus.

Yamana is extracting the gold in Brazil and therefore doesnt have the problems associated with other countries, like Russia with the politics involved, and South Africa with the Rand and the black empowerment programme.

I certainly think its worth a punt but as always please DYOR, please remember there are extra physical risks associated with Mining companies, and you are responsible for your own Buying and Selling actions.

cheers GF,

nb, more research to come.

The company chart.








cheers GF.

Link to Toronto price and stock exchange.

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=CA:YRI&sid=1534650&time=

cheers gf.

Yamana says Brazil project will boost production
TUESDAY, NOVEMBER 25, 2003 8:58 PM
- Reuters U.S. Company News


(All figures in U.S. dollars unless noted)

TORONTO, Nov 25 (Reuters) - Yamana Gold Inc. (CA:YRI) , a Canadian junior gold producer, said on Tuesday it expects its Fazenda Nova project, located in Brazil, to produce over 143,000 ounces of gold over four years.

Cash costs are expected to be $175 per ounce, before royalties and taxes, according to Yamana's feasibility study.

Total cash costs are expected to be $186 per ounce.

The Toronto-based miner, which also has gold production and copper-gold development projects in Argentina and Peru, said it sees the potential for increased mine life from a drilling program now underway.

Yamana called the infrastructure around the site "exceptional," pointing out that several towns are located close to the planned open-pit heap leach mine.

The site is also accessible by paved roads and power will be provided by an existing transmission grid, the company said.

The company expects to start production mid-2004 at an average annual rate of 36,000 ounces of gold over a period of four years.

Shares of Yamana closed up 10 Canadian cents at C$3.70 on Tuesday on the Toronto Stock Exchange ahead of the announcement.

cheers gf.

Im told the conversion to our dosh would put them at around 1.80pish.

Will be interesting to see if MMs mark these up in the morning. My feelings are it will be like how Bema got off and that was at a premium on kick off and then they settled down at around 11am onwards, so beware if you are tempted.

Also note the price will be dictated in part by the Toronto stock exchange.

cheers GF.

POG stabalised at $395 per ounze.

GF.

EPIC = YAU

2 MMs both with a 10p spread.

SCAP 158-168
WINS 157-167

Comdirect are not yet trading them,
Hoodless Brennan - cannot trade online (I haven't called them)
E-Trade are still setting it up....

Share Centre not set up yet either. Fair price 165p??????.

Not buying until that spread narrows anyway. If POG weakens and this stock heads south in Torronto, chances are you can get it cheaper than 165p, lots of ifs and buts here further complicated with the Yanks only being open for half a day.

cheers GF.

A load of hyped-up nonsense imop GF - let's just wait and see what happens next week. There are plenty other good gold shares out their already, why is this one any better?

goldfinger - 28 Nov'03 - 08:29 - 9 of 10 edit



Share Centre not set up yet either. Fair price 165p??????.

Not buying until that spread narrows anyway. If POG weakens and this stock heads south in Torronto, chances are you can get it cheaper than 165p, lots of ifs and buts here further complicated with the Yanks only being open for half a day.

cheers GF.

NEWS

Forward - looking statements
investor@yamana.com

Here are the details Ajren points out. Standard practice by miners in North America.

November 25, 2003


YAMANA COMPLETES FEASIBILITY STUDY
POSITIVE PRODUCTION DECISION FOR
FAZENDA NOVA


Q3-03-21

Mine to produce over 143,000 ounces Gold over initial four years

Cash cost per ounce US$175 (US$186 total cash cost life of mine including royalties)

Capital cost of US$5.6 million before contingencies and EPCM (total initial capital of US$6.6 million before working capital)

Expected EBITDA of $23.9 million and after tax Internal Rate of Return of 51% at US$350 per ounce and 71% at US$400 per ounce

Potential for significant additional mine life with drilling program

Yamana Gold Inc. (YRI – TSX) is pleased to announce that it has made a positive production decision for its Fazenda Nova gold project following receipt of a favourable feasibility study. The Fazenda Nova property is located in Goias State, Brazil almost 200 km from the state capital of Goiania and 300 km from the national capital of Brasilia. Infrastructure around the site is exceptional with several towns in close proximity. The site is readily accessible by paved roads and power will be provided by an existing transmission grid.

The Fazenda Nova mine is planned to be a shallow open-pit heap leach mine with three initial pits to a depth of 50 to 60 metres in saprolite ore. Gold production is planned to begin mid-2004 at an average annual rate of 36,000 ounces gold over a period of four years. Aggregate production is estimated at 143,650 ounces gold in the initial phase and before the benefits of increased mine life from a drilling program now underway.

Capital costs are expected to be US$6.6 million (including contingencies and EPCM) before working capital. Cash costs per ounce are expected to be US$175 per ounce (before royalties and taxes) for total cash costs after royalties and taxes of US$186 per ounce.

The largest component of cash costs will be cement for agglomeration. The mine plan maximizes cement consumption so as to ensure improved agglomeration and heap leach permeability and thereby improving recoveries.

Metallurgical test work was performed on composite samples from eight areas of the deposit. Testing included bottle roll, agglomeration and column leach tests on disaggregated core and rotary reverse circulation drill hole samples. The recovery rate is based on reagent consumption of 15 kg/t of cement and 0.12 kg/t sodium cyanide.

The recovery rate is conservatively estimated at 88% based on a 90 day leaching cycle. The recovery rate is based on significantly higher recovery rates over shorter leach cycles in laboratory tests (95% recovery over 15 days) and comparable experience at other deposits of saprolite ore.

The company has received a feasibility study completed by Kappes, Cassiday and Associates (KCA). Bob Rose was the overall project manager for the study on behalf of KCA. Golder & Associates was responsible for hydrology and geotechnical review. Mining aspects including reserve updates were prepared by Moreno & Associates. Mel Klohn, a qualified person under NI 43-101 (NI 43-101) under Canadian Securities laws, reviewed and corroborated the reserve estimate under the standards of NI 43-101. Metallurgical test work, processing, infrastructure review, reclassification and economies were carried out by KCA. The Moreno report refers to data in a previous technical report under NI 43-101 prepared by Watts Griffis and McOuat. Geology, mining support and overall cost estimates from suppliers and contractors were provided by E.C.I. Engineering and Yamana.

Probable reserves were initially estimated in the NI 43-101 report as 3.9 million tonnes grading 0.98 g/t containing 123,000 ounces gold. Moreno determined a mine plan designed to optimize reserves. Reserves in the three main pits are estimated as 5.7 million tonnes grading 0.89 g/t containing 163,140 ounces gold at a strip ratio of 0.99 to 1.

The mine plan is based on US$350 per ounce gold and a sensitivity at US$325 per ounce gold determined that there would be only a marginal decrease of less than 1% of the estimated reserves.

Mining will take place at the rate of 1.5 million tonnes of ore per year. Ore and waste are mostly free digging and no blasting will be required. Mining will be open-pit using hydraulic backhoe shovels and trucks.

Ore will be disaggregated in a single-stage sizer, open circuit system. Crushed ore will be agglomerated to bind fine particles and maintain leach permeability. Cement will be used as a binder in the agglomeration process.

Leaching will take place on a lined pad using cyanide solution in a single stage leach cycle. Gold recovery will occur in an activated carbon absorption-desorption recovery (ADR) plant. An atmospheric strip circuit and electrowinning will strip and recover gold from loaded carbon.

Economic parameters are set forth below.

Capital Costs: Direct Capital Costs US$ 5,620,000
EPCM 560,000
Indirect Costs 370,000
Pre Production Capital Costs US$ 6,550,000


Cash Costs: Average Cash Costs per Ounce US$ 169.00
Refining / Transportation 6.50
Royalties 10.50
Total Cash Cost US$ 186.00


EBITDA: US$23,900,000 (assumed $350 per ounce)
US$30,800,000 (assumed $400 per ounce)

Net IRR: 51% (assumed $350 per ounce)
71% (assumed $400 per ounce)

Net Present Value (0%): US$15,000,000 (assumed $350 per ounce)
US$21,600,000 (assumed $400 per ounce)

Net Present Value (5%): US$11,500,000 (assumed $350 per ounce)
US$17,000,000 (assumed $400 per ounce)

Initial Production (Years): 4.0 years


Capital costs are based on contractor and supplier bids for main items and certain factored items estimates for general and miscellaneous. They are considered to be accurate 10 to 15%. A corporate structure will be adopted to maximize after tax returns. The capital costs will be equity financed from a prior financing. Yamana has sufficient cash on hand to fully fund the project to production.

The cash flow analysis demonstrates more sensitivity to gold price than to improvements or changes in capital or operating costs. KCA notes in their study that internal rate of return (after tax) increases from 51% to 66% with a 10% increase in the base case gold price of US$350 per ounce. Yamana has separately determined that the internal rate of return increases to over 71% with a gold price of US$400 per ounce.

Environmental and reclamation programs were developed to comply with Brazilian regulatory requirements and to restore the productive use after production has ceased.

The permitting process has been completed and the construction license has been granted.

Schedule milestones to production are as follows.

November 2003 Initial Procurement

January 2004 Commence Construction

March 2004 Pad & Lining Construction

June 2004 Agglomeration Startup

July 2004 Commence heap leaching

September 2004 (90 days) Initial Production


Efforts are being made to minimize the effects of the raining season on construction. The foregoing construction schedule assumes no delays as a result of excessive rain during the rainy season.

Commenting on this development, Yamana’s President and Chief Executive Officer Peter Marrone stated, “We have committed ourselves to a high quality process for development of our projects. We have designed the Fazenda Nova project to maximize quality control, recoveries, safety and environmental compliance while ensuring a project with a robust rate of return. Clearly, we have developed a mine plan for Fazenda Nova that is designed to take advantage of higher gold prices with maximization of production levels and recoveries. Our total annualized production commencing in mid-2004 will be some 140,000 ounces from our two mines at under US$200 cash costs. We are on track towards our stated objective of becoming an intermediate producer in the next two years. We will continue to maximize our production and development opportunities and we have now also started an aggressive drilling and exploration campaign to increase reserves, extend mine life and find new deposits.

Yamana is a Canadian gold producer with significant gold production, gold and copper-gold development stage properties and exploration properties and land positions in all major mineral areas in Brazil. Yamana expects to produce gold at intermediate company production levels by 2006 in addition to significant copper production by 2007. Yamana also holds gold exploration properties in Argentina subject to earn-in by Peruvian gold producers Buenaventura and Hochshild. Company management plans to build on this base by targeting other gold consolidation opportunities in Brazil and elsewhere in Latin America.

For further information, contact
Peter Marrone
President & Chief Executive Officer
(416) 815-0220
E-mail: investor@yamana.com

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.


cheers GF.

Now starting to move north in Canada and up here on the UK market as a result.

This one is certainly one to take a look at.

cheers GF.

Down a little in Canada but buyers coming in.

GF.

That's one of the things that makes me uneasy about buying any share, not just this one, that trades on another market - there was obviously profit taking in Toronto which made it drop 4p over here.

I don't know where the buyers are coming in from GF? One buyer today, according to ADVFN, who bought 196 shares.

Spot on scottie and it was the same for Bema until the analysts in this country got their lazy backsides up and started researching the stock. Bema bought at 154 and 162p now 240p plus, and thats without any fair UK coverage.

Give them the coverage and they will move beleive me.

cheers GF.

Moving in the wrong direction at the moment - marked down another 6p. They will be a good buying opportunity at some point.

North Americans more prepared to take a profit than we are, lower spreads.

Yamana as had a very good run upwards and the same goes for Bema. As long as POG holds above $400 these two will come good just a question of patience. By the way had another look at your gold tip out of oxus and it does seem to look better the more research you do on it. May go in.

cheers gf.

An excelent set of results laying the foundations for further Growth.

Yamana Gold INC
04 December 2003

News Release October 24, 2003
Page 1 of 5


Yamana Lays Foundation for Growth
(all figures in US$ unless otherwise stated)

Yamana Gold Inc. (YRI - TSX) announces quarterly results for the six month
period ended August 31, 2003. The most significant change in the quarter is the
major transformation of the company as a result of the acquisition of certain
assets. The principal changes are:

1. Acquisition of the operating mine Fazenda Brasileiro in Brazil for cash
consideration of $20.9 million,

2. Acquisition of advanced production stage gold projects Sao Francisco,
Sao Vicente and Fazenda Nova/Lavrinha and an advanced production
stage copper-gold project Chapada in Brazil for share consideration

3. Raised Cdn $55.5 million through the issue of subscription receipts,

4. Changed name to Yamana Gold Inc., and

5. Completed a share consolidation on the basis of one new share for each
27.86 shares held.

According to Yamana's President and CEO Peter Marrone these changes create a
substantive company with a diversified portfolio of mining assets comprised of a
producing mine, several production stage properties and an unparalleled
exploration land position in Brazil.

'We are a substantive gold producer with exceptional production growth in the
next few years. Combined with the Chapada copper/gold project, our leverage to
increasing gold and copper prices is excellent. Yamana produces at an annual
rate of 100,000 ounces gold per year and has the team to create significant
additional value by bringing the current late stage project pipeline to
production.

We are in a strong cash position. The cash balance as at August 31, 2003 is
$14.7 million and the company has no debt. We raised Cdn $55.5 million in July
and as at the quarter end there was a working capital surplus of $15.5 million.

The third quarter will bring the gold revenue and cash flow that will underpin
the company's activities in Brazil. The company expects to produce over 60,000
ounces of gold for the last six months of the fiscal year (for an annualized
100,000 ounces gold per year). Various cost reduction programs have been
implemented at the mine and Yamana continues to look at additional measures for
reducing cash costs per ounce.'

The loss for the second quarter was $1.7 million ($0.12 per share). Gold
production for the 16 days from the newly acquired Fazenda Brasileiro Mine was
3,723 ounces of gold. No revenue or cost of sales has been recognized as the
gold produced was not sold until late September 2003.

Yamana is a Canadian intermediate gold producer with significant production,
development stage properties, exploration properties and land positions in all
major mineral areas in Brazil. Yamana also holds gold exploration properties in
Argentina subject to earn-in by the Peruvian gold producers Buenaventura and
Hochshild. Company management plans to build on this base by targeting other
gold consolidation opportunities in Brazil and elsewhere in Latin America.

For further information, contact
Peter Marrone
President & Chief Executive Officer
(416) 815-0220
E-mail: investor@yamana.com

cheers Gf.

First time its been up in over a week, is this the turning point?.

GF