Toronto-based Yamana Gold(TSX: T.YRI, Stock Forum) announced Wednesday that it has completed its previously announced equity financing and it has secured a further US$200 million revolving credit facility.
Yamana says including its pre-existing US$300 million revolving credit facility maturing in 2012, the company now has US$500 million of available credit under revolving credit lines of which approximately US$250 million remains undrawn.
Earlier this month, the company announced a $135 million equity financing, saying that it had entered into an agreement with Canaccord Capital Corporation and Scotia Capital who agreed to purchase 22.5 million common shares of the company for resale to the public at $6.00 per share.
Shares of Yamana Gold fell 2.6% to $8.06 Wednesday.
On the Yamana Gold Bullboard Wednesday, in a post entitled “What is happening with Yamana?” gnumantsc asked: “Looking at gold prices, you would think that gold is up gold stock would do the same but I am seeing the opposite. The days that gold closed lower, YRI was up and vice versa. Why is it that the stock is going opposite of what gold goes?...[sic]”
