Another thought on Yamana (AUY) (YRI.to) and its purchase of Extorre (XG) (XG.to)

I'm a bit slow, but it suddenly occurred to me while doing the exercise machine thingy that this deal is all about Yamana's problems in remitting dollar profits. With Gualcamayo now churning out plenty of free cash flow and Argentina's financial blockages getting tighter, Señor Marrone and his friends get to build a mine, use the Argentine generated cash for it capex, add asset value to the company without all that messing about, time wasted and graft on top of the financial transactions needed to get money back to Canada.

Darnit, I wish I'd thought of that last week.