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Yamana Gold (AUY) Inks Deal to Improve Gold Supply Chain

Zacks

Yamana Gold Inc. AUY and Emergent Technology Holdings LP have inked a licensing agreement that enables the former to license the latter’s supply chain solution — Responsible Gold using blockchain technology platform.

Emergent’s blockchain technology supply chain solution traces the origin of conflict-free gold from mines to refineries and through vaults. The solution leverages blockchain technology to administer contracts among the parties involved in the delivery of gold-bearing material including refineries, miners, insurance companies and logistics providers.

The move simplifies and automates supply chain traceability of the conflict-free gold it delivers to refineries. Notably, Yamana is the first to license the blockchain technology supply chain solution.

Emergent's platform will provide refiners with an irrefutable and transparent system by digitally obtaining and maintaining information for each lot of gold-bearing material that is refined. Moreover, it consolidates the current standards of diligence among supply chain participants.

Notably, it is the only authorized blockchain platform that tracks sourced gold responsibly from its origin to vault. Yamana Gold, among other miners and supply chain participants, will use Emergent's mobile application that scans smart chips in tamper-proof seals and records transfer of data and custody on the blockchain.

Emergent will also launch its digital gold currency — G-Coin — which will be backed by physical gold sourced from the Responsible Gold supply chain platform. Notably, Yamana Gold has made an investment in the technology and is also a founding partner in Emergent. The company expects G-Coin to expand and improve the benefits of the Responsible Gold platform by providing a credible investment product to investors and individuals. G-Coins will be available as a new investment class in the second quarter of 2018.

Yamana Gold’s shares have moved up 22.1% in the last three months, outperforming the 7.3% decline recorded by its industry.



Zacks Rank & Stocks to Consider

Yamana Gold carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Methanex Corporation MEOH, Steel Dynamics, Inc. STLD and The Mosaic Company MOS, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Methanex has an expected long-term earnings growth rate of 15%. Its shares have soared 26.2% over the last six months.

Steel Dynamics has an expected long-term earnings growth rate of 12%. Its shares have moved up 26.6% over the last six months.

Mosaic has an expected long-term earnings growth rate of 9.5%. Its shares have rallied 24.2% over the past six months.

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