Andean Precious Metals Reports Third Quarter 2026 Production and Sales Results
Quarterly sales cleared all finished inventory deferred at the second-quarter end, together with 100% of third-quarter production.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Andean Precious Metals (ANPMF) reported record third-quarter 2026 sales of 39,178 gold equivalent ounces alongside higher quarterly production at both operations.
Gold equivalent ounces (GEOs) combine gold and silver using a price ratio. Consolidated production reached 27,262 GEOs, up 6% year over year and 7% from the second quarter. Nine-month production rose 12% to 79,992 GEOs. Quarterly sales included all finished inventory deferred at the second-quarter end and 100% of third-quarter production.
San Bartolome produced 16,394 GEOs in the quarter; its nine-month output rose 29% to 49,060 GEOs. Golden Queen produced 10,868 GEOs, up 27% sequentially and 8% year over year, although nine-month output fell to 30,932 GEOs from 33,484. Full-year consolidated production guidance is 100,000–114,000 GEOs. Third-quarter financial results are scheduled for November 10, followed by a management webcast November 11.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQuarterly sales reached a record 39,178 GEOs, including all deferred finished inventory and third-quarter production.
- Moderate pointConsolidated quarterly production increased 6% year over year and 7% sequentially to 27,262 GEOs.
- Minor pointConsolidated nine-month production increased 12% year over year to 79,992 GEOs.
- Minor pointConsolidated nine-month sales rose to 79,019 GEOs from 70,796 a year earlier.
- Minor pointConsolidated quarterly gold production rose to 11,242 ounces from 10,429 a year earlier.
11 minor points
- Minor pointConsolidated nine-month silver production rose to 4,051 thousand ounces from 3,414 thousand a year earlier.
- Minor pointConsolidated quarterly gold sales rose to 13,416 ounces from 10,296 a year earlier.
- Minor pointConsolidated quarterly silver sales rose to 2,190 thousand ounces from 1,370 thousand a year earlier.
- Minor pointConsolidated nine-month silver sales rose to 4,031 thousand ounces from 3,445 thousand a year earlier.
- Minor pointGolden Queen quarterly production rose 27% sequentially and 8% year over year to 10,868 GEOs.
- Minor pointGolden Queen quarterly sales rose to 11,782 GEOs from 9,936 a year earlier.
- Minor pointSan Bartolome quarterly production rose to 16,394 GEOs from 15,606 a year earlier.
- Minor pointSan Bartolome nine-month production increased 29% year over year to 49,060 GEOs.
- Minor pointSan Bartolome quarterly sales rose to 27,395 GEOs from 15,585 a year earlier.
- Minor pointSan Bartolome nine-month sales rose to 49,259 GEOs from 38,137 a year earlier.
- Minor point. Forward-looking: it has not happened yet and may not happen.Andean's full-year production guidance is 100,000–114,000 GEOs.
Negative
- Minor pointGolden Queen nine-month production fell to 30,932 GEOs from 33,484 a year earlier.
- Minor pointGolden Queen nine-month sales fell to 29,759 GEOs from 32,659 a year earlier.
- Minor pointConsolidated nine-month gold production fell to 32,333 ounces from 33,452 a year earlier.
- Minor pointConsolidated nine-month gold sales fell to 31,596 ounces from 32,523 a year earlier.
- Minor pointConsolidated quarterly silver production fell to 1,362 thousand ounces from 1,373 thousand a year earlier.
- Minor pointSan Bartolome quarterly silver-equivalent production fell to 1,394 thousand ounces from 1,404 thousand a year earlier.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Nine-Month Production Increases
Toronto, Ontario--(Newsfile Corp. - October 13, 2026) - Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF) ("Andean" or the "Company") reports its production and sales results for the third quarter of 2026. The Company will release its third-quarter financial results after market close on Tuesday, November 10, 2026, followed by an earnings conference call and webcast hosted by management on Wednesday, November 11, 2026, at 9:00 a.m. Eastern Time.
(All amounts expressed in United States ("U.S.") dollars unless otherwise stated)
Q3 2026 Highlights:
Consolidated production of 27,262 gold equivalent ounces ("GEOs"), up
6% year over year and7% from the second quarterNine-month consolidated production of 79,992 GEOs, up
12% year over yearSan Bartolome produced 16,394 GEOs in the quarter, bringing nine-month production to 49,060 GEOs, up
29% year over yearGolden Queen production rebounded to 10,868 GEOs, up
27% from the second quarter and8% year over yearRecord quarterly sales of 39,178 GEOs, reflecting the sale of all finished inventory deferred at the end of the second quarter together with
100% of third-quarter production
Alberto Morales, Executive Chairman and CEO, stated: "Andean delivered a strong third quarter, with higher production, record sales and sustained operational momentum across both assets. Consolidated production of 27,262 GEOs increased
During the quarter, we were proud to be named to the 2026 TSX30, recognizing Andean as one of the top-performing companies on the Toronto Stock Exchange. With strong momentum in both operations and gold and silver prices, which remain well above prior-year levels, we are well positioned for a strong finish to 2026. We look forward to reporting our full third-quarter financial and operating results on November 10, 2026."
Q3 2026 Operational Results:
| Consolidated | Q3 2026 | Q3 2025 | 9M 2026 | 9M 2025 | Guidance 12M 2026 2 | ||||||||||||
| Gold ounces produced (Au, oz) | 11,242 | 10,429 | 32,333 | 33,452 | 46,000 - 54,000 | ||||||||||||
| Silver ounces produced (Ag, k-oz) | 1,362 | 1,373 | 4,051 | 3,414 | 4,600 - 5,100 | ||||||||||||
| Gold equivalent ounces produced (Au, oz) 1 | 27,262 | 25,688 | 79,992 | 71,388 | 100,000 - 114,000 | ||||||||||||
| Gold ounces sold (Au, oz) | 13,416 | 10,296 | 31,596 | 32,523 | |||||||||||||
| Silver ounces sold (Ag, k-oz) | 2,190 | 1,370 | 4,031 | 3,445 | |||||||||||||
| Gold equivalent ounces sold (Au, oz) 1 | 39,178 | 25,520 | 79,019 | 70,796 | |||||||||||||
| Golden Queen | |||||||||||||||||
| Gold ounces produced (Au, oz) | 9,905 | 9,228 | 28,296 | 30,761 | 43,000 - 50,000 | ||||||||||||
| Silver ounces produced (Ag, k-oz) | 82 | 77 | 224 | 245 | 200 - 300 | ||||||||||||
| Gold equivalent ounces produced (Au, oz) 1 | 10,868 | 10,083 | 30,932 | 33,484 | 45,000 - 54,000 | ||||||||||||
| Gold ounces sold (Au, oz) | 10,646 | 9,084 | 27,156 | 29,984 | |||||||||||||
| Silver ounces sold (Ag, k-oz) | 96 | 76 | 221 | 240 | |||||||||||||
| Gold equivalent ounces sold (Au, oz) 1 | 11,782 | 9,936 | 29,759 | 32,659 | |||||||||||||
| San Bartolome | |||||||||||||||||
| Gold ounces produced (Au, oz) | 1,336 | 1,199 | 4,037 | 2,690 | 3,000 - 4,000 | ||||||||||||
| Silver ounces produced (Ag, k-oz) | 1,280 | 1,296 | 3,827 | 3,169 | 4,400 - 4,800 | ||||||||||||
| Gold equivalent ounces produced (Au, oz) 1 | 16,394 | 15,606 | 49,060 | 37,906 | 55,000 - 60,000 | ||||||||||||
| Silver equivalent ounces produced (Ag, k-oz) 1 | 1,394 | 1,404 | 4,170 | 3,411 | |||||||||||||
| Gold ounces sold (Au, oz) | 2,770 | 1,212 | 4,440 | 2,539 | |||||||||||||
| Silver ounces sold (Ag, k-oz) | 2,094 | 1,294 | 3,810 | 3,204 | |||||||||||||
| Gold equivalent ounces sold (Au, oz) 1 | 27,395 | 15,585 | 49,259 | 38,137 | |||||||||||||
| Silver equivalent ounces sold (Ag, k-oz) 1 | 2,329 | 1,403 | 4,187 | 3,432 |
Q3 2026 Conference Call and Webcast:
Wednesday, November 11, at 9:00 AM ET
Participants may listen to the webcast by registering via the following link https://www.gowebcasting.com/15185
Participants may also listen to the conference call by calling North American toll free 1-800-715-9871, or 1-647-932-3411 outside the U.S. or Canada, and quoting Conference ID 8567391.
An archived replay of the webcast will be available for 90 days at: https://www.gowebcasting.com/15185 or the Company website at www.andeanpm.com.
About Andean Precious Metals
Andean is building the next generation of precious metals production in the Americas – combining established operating assets with a disciplined strategy for growth in some of the world's most attractive mining jurisdictions. The Company owns and operates the San Bartolome processing facility in Potosi, Bolivia and the Golden Queen mine in Kern County, California, providing a strong operating foundation and a platform for further expansion.
Andean is strategically positioned to maximize the value of its existing assets while pursuing compelling opportunities to expand and diversify its portfolio. The Company has an experienced management team with a strong track record of value creation, and is committed to operational excellence, responsible and sustainable development and disciplined capital allocation.
Andean's objective is to build a leading multi-asset, mid-tier precious metals producer in the Americas, creating enduring value for shareholders while maintaining the highest standards of safety, environmental stewardship, and community responsibility.
Qualified Person Statement
The scientific and technical content disclosed in this news release was reviewed and approved by Donald J. Birak, Independent Consulting Geologist to the Company, a Qualified Person as defined by National Instrument 43-101 – Standards for Disclosure for Mineral Projects, Registered Member, Society for Mining, Metallurgy and Exploration (SME), Fellow, Australasian Institute of Mining and Metallurgy (AusIMM).
For more information, please contact:
| Brenda Dayton | Juan Carlos Sandoval |
| Vice President, Investor Relations | Chief Financial Officer |
| bdayton@andeanpm.com | jcsandoval@andeanpm.com |
| T: +1 604 417 7952 | T: +1 832 425 6662 |
Endnotes:
Gold equivalent ounces of silver produced or sold in a given period are computed using a consistent ratio of the silver price to the gold price. In 2025, the Company used a factor of 90. For 2026, the Company is using a factor of 85.
Please refer to the Q4 2025 MD&A for additional detail on the 2026 production, cost, and margin guidance.
Caution Regarding Forward-Looking Statements:
Certain statements and information in this release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.
Forward-looking statements in this release include, but are not limited to, statements and information regarding the Company's anticipated production and operational performance, including expectations regarding full-year 2026 production relative to guidance, the recognition in the Company's third quarter 2026 results of revenue and margin from the sale of the finished inventory that was subject to the Company's strategic sales deferral, the timing of the release of the Company's financial and operating results for the quarter ended September 30, 2026, and expectations regarding future financial or operational results based on current metal prices and operating conditions.
Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: the Company's ability to carry on exploration and development activities; the Company's ability to execute its strategic initiatives and growth plans; the Company's ability to secure and meet obligations under property and option agreements and other material agreements; that there is no material adverse change affecting the Company or its properties, and that the Company's assets continue to operate consistent with expectations; that contracted parties provide goods and services in a timely manner; that no unusual geological or technical problems occur; that plant and equipment function as anticipated; the availability of labour and key personnel; and that there are no material adverse changes in commodity prices, foreign exchange rates, inflationary pressures (including diesel and energy costs), or general economic conditions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: risks relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies; risks that exploration, development or mining results will not be consistent with the Company's expectations; risks relating to variations in reserves, resources, grades, planned mining dilution, ore loss or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated operational difficulties; risks relating to delays in exploration, development, permitting or construction activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price volatility and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to inflation and increases in input costs, including fuel, energy and consumables; risks related to the Company's ability to maintain liquidity and effectively allocate capital; risks associated with capital markets conditions and the Company's ability to obtain adequate financing on a timely basis and on acceptable terms; risks relating to delays in the completion of development or construction activities, or in obtaining local community, governmental or regulatory approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the global economic environment. For additional risk factors, please refer to the section entitled "Risk Factors" in the Company's Management's Discussion and Analysis for the year ended December 31, 2025, and the Company's Annual Information Form for the year ended December 31, 2025, each dated March 25, 2026, which are available on SEDAR+ at www.sedarplus.ca.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and undue reliance should not be placed on forward-looking statements. The forward-looking statements contained in this release are made as of the date of this release, and the Company undertakes no obligation to update or revise any forward-looking statements included in this release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318508
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Why did Andean Precious Metals report record third-quarter 2026 sales?
Sales of 39,178 gold equivalent ounces included all finished inventory deferred at the end of the second quarter and 100% of third-quarter production.
How does Andean Precious Metals calculate gold equivalent ounces in 2026?
Andean uses a silver-to-gold conversion factor of 85 for 2026, compared with 90 in 2025. Gold equivalent ounces of silver produced or sold are computed using a consistent ratio of the silver price to the gold price.
What are Andean Precious Metals' 2026 production guidance ranges by operation?
Full-year guidance is 45,000–54,000 gold equivalent ounces for Golden Queen and 55,000–60,000 for San Bartolome. Golden Queen's metal guidance is 43,000–50,000 gold ounces and 200–300 thousand silver ounces; San Bartolome's is 3,000–4,000 gold ounces and 4,400–4,800 thousand silver ounces.