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Yamana meets production targets in Q1'16, ups guidance after Riacho Dos Machados buy

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Yamana meets production targets in Q1'16, ups guidance after Riacho Dos Machados buy

Yamana Gold Inc.said April 11 that it hit output guidance in the first quarter with production of308,000 ounces of gold, about 1.9 million ounces of silver and 26.0 million poundsof copper, and updated its production guidance for three years starting with thisyear.

The company's byproduct all-in sustaining costs in the quartertotaled US$811 per ounce for gold and US$10.79 per ounce for silver, while co-productall-in sustaining costs for copper totaled US$1.97 per pound.

Productionin the year-ago quarter totaled 2.5 million ounces of silver and 26.8 million poundsof copper.

Yamana also updated its output guidance for 2016, 2017 and 2018after the acquisitionof the Riacho dos Machados,or RDM, gold mine in Brazil.

The company now expects total production guidance for this yearto be at 1.26 million ounces to 1.34 million ounces of gold, 6.92 million ouncesto 7.17 million ounces of silver and 122 million pounds to 125 million pounds ofcopper.

In 2017, Yamana expects total production of 1.38 million ouncesof gold, 6.94 million ounces of silver and 122 million pounds of copper, and in2018, 1.46 million ounces of gold, 10.45 million ounces of silver and 115 millionpounds of copper.

Previously,Yamana was looking to produce 1.23 million ounces to 1.31 million ounces of gold,6.92 million ounces to 7.17 million ounces of silver and 122 million pounds to 125million pounds of copper this year. For 2017, the company expected production of1.29 million ounces of gold, 6.94 million ounces of silver and 122 million poundsof copper, and 1.35 million ounces of gold, 10.5 million ounces of silver and 115million pounds of copper for 2018.

The all-in sustaining costs for the current year are estimatedat byproduct costs of less than US$805 per ounce for gold and US$10.20 per ouncefor silver, and co-product costs of US$1.60 per pound for copper.

At the RDM mine, acquired by Yamana wholly owned unit from , the company plansto optimize costs and increase production from 55,000 ounces this year, with 30,000ounces as the company's share for the May to December period, 85,000 ounces of goldin 2017, and 104,000 ounces of gold in 2018.

All-in sustaining costs at RDM are expected to total US$905 perounce for the May to December period, and US$930 per ounce for the full year.