http://www.kitco.com/pr/1738/article_06092009195900.pdf"NEWS RELEASE YAMANA GOLD ENTERS INTO AGREEMENT FOR THE SALE OF CERTAIN NON-CORE ASSETS – Transaction Includes Sale of San Andrés, São Francisco and São Vicente Mines to Aura Minerals – Toronto, Ontario, June 9, 2009 – YAMANA GOLD INC. (TSX: YRI; NYSE: AUY; LSE: YAU) today announced that it has signed an agreement with Aura Minerals Inc. under which Aura would purchase three of Yamana’s non-core operating mines – the San Andrés Mine in Honduras and the São Francisco and São Vicente Mines each located in Brazil. Aura will acquire the San Andrés Mine in Honduras and the São Francisco and São Vicente Mines in Brazil for an aggregate initial purchase price of approximately US$200 million, including approximately US$90 million in cash, US$70 million in deferred cash payments and S$40 million in Aura common shares. The transaction will close in two parts in order to accommodate jurisdiction-related regulatory requirements. The first part which relates to the sale of San Andrés is expected to close on July 23, 2009 at which time Yamana will receive total consideration of approximately US$74 million. The second part which relates to the sale of São Francisco and São Vicente is expected to close by year-end. [...]"Regards, Ken (Long AUY)
Here's my take on the Yamana asset sales.http://www.fool.com/investing/general/2009/06/11/yamana-trim...Fool on!
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