Mineros to buy Gualcamayo gold mine, from Yamana Gold for $85m

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) has entered into a definitive purchase agreement to sell 100% of its interest in the Gualcamayo mine located in San Juan Province, Argentina to Mineros S.A. The total value of the consideration for Gualcamayo resulting from the Sale Transaction is $85.0 million. The Gualcamayo acquisition adds 491,000 ounces of gold in reserves and 2.28 million ounces of gold in indicated mineral resources, representing a 56% and a 142% increase, respectively, to Mineros’ current reserve and resource base.