RE: good timing dehJaymiller, I had to laugh at following the commentary, first about Yamana becoming a base metal producer instead of a gold producer, and then you pointing out that most of the profits are already from copper.
I've been looking at this deal and this is what I picked up that I didn't like:
Looking further, for Q1 the Chapada mine produced 38,954 oz gold and 27.5 million pounds of copper. That is about 32% of the gold production. Chapada was responsible for 60.6% of the net revenue, which leveraged to 87.4% of the operating earnings. That detail screams that the other mines are not making much money. With 0.57 g/ton gold and 0.47% copper, the metal values per tonne mined were $45/ton, way more than the $37/ton metal value for the remainder of the proven reserves.