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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (170126)	2/15/2023 3:03:04 PM
From: LoneClone	Read Replies (1) \| Respond to of 192748

Gold Fields expects profit boost from Yamana deal break fee ca.finance.yahoo.com Wed, February 15, 2023 at 2:54 a.m. PST·1 min read Feb 15 (Reuters) - South Africa's Gold Fields on Wednesday said it expects its full-year profit to rise as much as 22% helped by a $202 million break fee it received after its deal to buy Canada's Yamana Gold collapsed last year. In a trading update, Gold Fields said it expects headline earnings per share (HEPS) - the profit measure commonly used in South Africa - of $1.16-$1.22 for the year to December 2022, compared to $1.00 the previous year. "The increase in headline earnings is driven by the net proceeds relating to the Yamana break fee of US$202m," Gold Fields said. Gold Fields in May 2022 agreed a deal with Yamana to acquire the Canadian miner in an all-share deal, but the acquisition was scuppered last November when Yamana agreed to a rival $4.8 billion takeover bid from Agnico Eagle and Pan American Silver Corp. As a result, Yamana was liable to pay Gold Fields a break fee - a financial penalty paid by a party responsible for a deal's collapse. Gold Fields, which has operations in South Africa, Australia, Ghana, Peru and Chile, said it produced 2.4 million ounces of gold in 2022, up 3% from 2.34 million ounces the previous year and topping its revised guidance 2.31 to 2.36 million ounces. Gold Fields' all-in sustaining costs (AISC) is expected to rise by 4% percent to $1,105 per ounce, below its guidance of $1,140-$1,180 per ounce. The company will release its 2022 financial results on Feb. 23