Yamana Gold Incorporated

Company Cash Flow

Cash Flow From Operating Activities
	Dec 2006	Dec 2005	Dec 2004	Feb 2004
Net Income (Loss)	-70.16M	-4.11M	2.78M	1.01M
Operating Gains/Losses	58.19M	8.26M	430.00K	1.12M
Extraordinary Gains / Losses	0.00	0.00	0.00	0.00
(Increase) Decrease In Receivables	-25.11M	876.00K	311.00K	-1.15M
(Increase) Decrease in Inventories	-44.27M	-5.49M	-2.01M	-1.61M
(Increase) Decrease In Other Current Assets	0.00	-5.05M	-1.25M	-972.03K
(Decrease) Increase In Payables	25.99M	6.63M	2.20M	4.27M
(Decrease) Increase In Other Current Liabilities	0.00	0.00	0.00	0.00
(Increase) Decrease In Other Working Capital	0.00	0.00	0.00	0.00
Other Non-Cash Items	49.71M	0.00	0.00	0.00
Net Cash From Continuing Operations	-3.22M	3.41M	8.54M	5.59M
Net Cash From Discontinued Operations	0.00	0.00	0.00	0.00
Cash Provided By Investing Activities
Net Cash From Total Operating Activities	-3.22M	3.41M	8.54M	5.59M
Sale of Property, Plant & Equipment	0.00	0.00	0.00	0.00
Cash Used for Investing Activities
Sale of Short-Term Investments	0.00	0.00	0.00	0.00
Purchases of Property, Plant & Equipment	-219.30M	-160.98M	-26.56M	-5.96M
Acquisitions	66.82M	0.00	0.00	-22.10M
Purchases of Short-Term Investments	0.00	-2.26M	0.00	0.00
Other Cash from Investing Activities	-26.54M	-29.31M	-531.00K	0.00
Cash Provided by Financing Activities
Net Cash From Investing Activities	-179.03M	-192.55M	-27.09M	-28.06M
Issuance of Debt	0.00	100.00M	0.00	0.00
Cash Used for Financing Activities
Issuance of Capital Stock	221.21M	155.10M	76.17M	61.11M
Repayment of Long-Term Debt	-115.41M	0.00	0.00	0.00
Repurchase of Capital Stock	0.00	0.00	0.00	0.00
Payment of Cash Dividends	-2.88M	0.00	0.00	0.00
Other Financing Charges, Net	-5.00M	-4.63M	-7.28M	-4.76M
Net Cash From Financing Activities	97.91M	250.47M	68.88M	56.35M
Effect of Exchange Rate Changes	2.38M	3.25M	2.12M	0.00
Net Change in Cash & Cash Equivalents	-70.16M	-4.11M	2.78M	1.01M