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FORM
6-K
UNITED
STATES
SECURITIES
AND EXCHANGE
COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
of
the Securities Exchange Act of 1934
For
the
month of May 2006
Commission
File Number 001-31880
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Yamana
Gold Inc.
(Translation
of registrant's name into English)
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150
York Street
Suite
1902
Toronto,
Ontario M5H 3S5
(Address
of principal
executive offices)
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Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
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Form
20-F
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....[
]..... |
Form
40-F |
....[X].... |
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in
paper of a Form 6-K if submitted solely to provide an attached annual
report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in
paper of a Form 6-K if submitted to furnish a report or other document that
the registrant foreign private issuer must furnish and make public under the
laws of the jurisdiction in which the registrant is incorporated, domiciled
or
legally organized (the registrant’s “home country”), or under the rules of the
home country exchange on which the registrant’s securities are traded, as long
as the report or other document is not a press release, is not required to
be
and has not been distributed to the registrant’s security holders, and, if
discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR.
Indicate
by check mark whether by furnishing the information contained in this Form,
the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
|
Yes
|
....[
].... |
No
|
....[X].... |
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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YAMANA
GOLD INC. |
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| Date: May
02, 2006 |
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/s/ Charles
Main |
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Name:
Charles Main |
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Title:
CFO |
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News
Release
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May
02, 2006
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YAMANA
COMPLETES CDN$200.1 MILLION EQUITY FINANCING
TORONTO,
ONTARIO--(CCNMatthews - May 2, 2006) - Yamana Gold Inc. ("Yamana")
(TSX:YRI) (AMEX:AUY) (AIM:YAU) announces that it has completed
its previously announced Cdn$200.1 million equity financing. An underwriting
syndicate, co-led by Canaccord Capital Corporation and Merrill Lynch Canada
Inc.
and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., GMP Securities
L.P., National Bank Financial Inc., Sprott Securities Inc., Bear, Stearns
&
Co. Inc., Blackmont Capital Inc., Raymond James Ltd., Wellington West Capital
Markets Inc., Jennings Capital Inc., Paradigm Capital Inc. and Salman Partners
Inc., purchased 17.4 million common shares of Yamana at a price of Cdn$11.50
per
share.
Yamana
plans to use approximately US$116.4 million of the net proceeds from the
offering to repay its senior secured note facility on or about May 5, 2006.
The
balance of the net proceeds will be used for the advancement and development
of
Yamana's mineral properties, potential acquisitions, exploration activities
and
general corporate purposes.
The
17.4
million common shares will trade on the Toronto Stock Exchange and the
American
Stock Exchange. Yamana has also made application to the Alternative Investment
Market of the London Stock Exchange for the admission of such
shares.
This
press release shall not constitute an offer to sell or the solicitation
of an
offer to buy nor shall there be any sale of the securities in any state
in which
such offer, solicitation or sale would be unlawful. The securities have
not been
registered under the U.S. Securities Act of 1933, as amended, and may not
be
offered or sold in the United States absent registration or an application
exemption from the registration requirements.
About
Yamana
Yamana
is
a Canadian gold producer with significant gold production, gold and copper-gold
development stage properties, exploration properties, and land positions
in all
major mineral areas in Brazil. With the acquisition of Desert Sun, Yamana
also
owns the Jacobina Mine. Yamana expects to produce gold at intermediate
company
production levels in 2006 in addition to significant copper production
by 2007.
Management of Yamana plan to continue to build on this base through the
advancement of its exploration properties and by targeting other gold
consolidation opportunities in Brazil and elsewhere in Latin
America.
Cautionary
Statements
This
news
release contains "forward-looking statements", within the meaning of the
United
States Private Securities Litigation Reform Act of 1995 and similar Canadian
legislation, concerning the business, operations and financial performance
and
condition of Yamana. Forward-looking statements include, but are not limited
to,
the completion of the proposed offering; the use of proceeds from the offering;
the members of the syndicate for the offering; the development potential
of
Yamana's and properties; the future price of gold and copper; the estimation
of
mineral reserves and resources; the realization of mineral reserve estimates;
the timing and amount of estimated future production; costs of production;
capital expenditures; success of exploration activities; permitting time
lines
and permitting, mining or processing issues; currency exchange rate
fluctuations; government regulation of mining operations; environmental
risks;
unanticipated reclamation expenses; title disputes or claims; and limitations
on
insurance coverage. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain actions,
events or
results "may", "could", "would", "might" or "will be taken", "occur" or
"be
achieved". Forward-looking
statements are based on the opinions and estimates of management as of
the date
such statements are made, and they are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level
of
activity, performance or achievements of Yamana to be materially different
from
those expressed or implied by such forward-looking statements, including
but not
limited to risks related to: unexpected events during construction, expansion
and start-up; variations in ore grade, tonnes mined, crushed or milled;
variations in relative amounts of refractory, non-refractory and transition
ores; delay or failure to receive board or government approvals; timing
and
availability of external financing on acceptable terms; the businesses
of Yamana
not being integrated successfully or such integration proving more difficult,
time consuming or costly than expected; not realizing on the anticipated
benefits from the Yamana/Desert Sun transaction or not realizing on such
anticipated benefits within the expected time frame; risks related to
international operations; actual results of current exploration activities;
actual results of current reclamation activities; conclusions of economic
valuations; changes in project parameters as plans continue to be refined;
future prices of gold and copper; possible variations in ore reserves,
grade or
recovery rates; failure of plant, equipment or processes to operate as
anticipated; accidents, labour disputes and other risks of the mining industry;
delays in the completion of development or construction activities, as
well as
those factors discussed in or referred to in the current annual Management's
Discussion and Analysis and current Annual Information Form of each of
Yamana
and Desert Sun filed with the securities regulatory authorities in Canada
and
available at www.sedar.com,
and
Yamana's Form 40-F filed with the United States Securities and Exchange
Commission. Although management of each of Yamana and the former management
of
Desert Sun has attempted to identify important factors that could cause
actual
results to differ materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will
prove
to be accurate, as actual results and future events could differ materially
from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Yamana does not undertake
to
update any forward-looking statements that are incorporated by reference
herein,
except in accordance with applicable securities laws.
For
further information, contact
|
Peter
Marrone
President
& Chief Executive Officer
(416)
815-0220
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Charles
Main
Chief
Financial Officer
(416)
815-0220
|