Timmins & Beardmore - Northern Ontario

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Yamana

posted on Sep 11, 2008 02:31PM

Yamana Gold not seeking takeovers: CEO

Reuters

September 09, 2008

TORONTO (Reuters) - Yamana Gold (YRI.TO) is not on the hunt for acquisitions, the company's chief executive said on Tuesday.

"We're committed to growth, but it is organic growth for this company for the next year to couple of years, at least," CEO Peter Marrone said at the Denver Gold Forum.

"I believe that we have better assets in this company that deliver growth and value for shareholders than what we see in the marketplace."

Small miners have seen their shares hit hard by the credit crunch and economic downturn, which has raised expectations that larger players will scoop them up at bargain prices.