Mining Weekly reported that Yamana Gold recorded a surge of 88.8 percent in fourth quarter profits due to a spike upwards in output.
As quoted in the market report:
Net earnings for the quarter ended December 31 were $169.2-million or 22c a share, an 88.8% increase year-on-year when compared with net earnings of $89.6-million or 12 c a share in the same quarter of 2011. Higher net earnings for the fourth quarter of 2012 were mainly owing to higher mine operating earnings, partly offset by higher operating expenses and higher income tax expenses.
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