Zero premium acquisitions are a thing of the past, according to Peter Marrone, executive chair of Yamana Gold (NYSE:AUY) who stressed acquirers need to pay fair value.

Marrone spoke to Kitco correspondent Paul Harris at BMO's Global Metals & Mining Conference held in Florida last week.

Yamana recognizes that it may potentially be a target following the acquisition of Kirkland Lake Mining by Agnico Eagle Mines, given it has a 1 million ounces a year production profile at an all-in sustaining cost of around US$900 per ounce, and a number of development projects.