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11/27/17

Yamana Gold (YRI.to) (AUY) is still hiding the truth about its Argentina liabilities from authorities

Do you remember back in September 2016 when this humble corner of cyberspace revealed that Yamana was on the hook to the tune of U$110m in a lawsuit in Argentina (one they previously pretended had been thrown out?). Do you also remember how AUY then came out with a lame-assed denial a few days later?

Well folks, the case has moved on and just a few days ago we had a new development. What this document here means (though short and in Spanish)...




...is that the attempt by Yamana lawyers to have to case thrown out has again been denied by the judges (and we're now at Supreme Court level) and that's not good at all for AUY. After all, U$110m in cash is a lot of money for any company. It's certainly a material number, so it' really is about time Marrone came clean to his shareholders about the true state of this liability.