Welcome to our dedicated page for Andean Precious news (Ticker: ANPMF), a resource for investors and traders seeking the latest updates and insights on Andean Precious stock.
Andean Precious Metals Corp. reports operating and corporate developments for a precious metals producer with assets in the Americas. The company owns and operates the San Bartolome processing facility in Potosí, Bolivia, and the Golden Queen mine in Kern County, California. Recurring updates cover production results, silver and gold output, throughput, grades, mine planning, exploration activity, and production, cost, and capital investment guidance.
Company news also includes financing arrangements, capital-structure updates, senior management and board changes, and market-access developments tied to Andean's common shares. The coverage reflects the company's effort to build a multi-asset precious metals portfolio while maintaining operating disclosures for its producing assets.
Andean Precious Metals (TSXV: APM) (OTCQX: ANPMF) has received final approval for uplisting its common shares to the Toronto Stock Exchange (TSX). Trading on the TSX will commence on January 9, 2025, under the ticker symbol APM.
This transition represents a significant milestone in the company's growth strategy, aiming to enhance visibility, liquidity, and access to institutional investors. Shareholders are not required to take any action regarding the uplisting. The company's senior management team will mark this achievement by participating in the TSX's market opening ceremony and ringing the opening bell at 9:30 AM EST on January 9, 2025.
Andean Precious Metals (TSXV: APM, OTCQX: ANPMF) has received TSX approval to renew its Normal Course Issuer Bid (NCIB) program. The company plans to purchase up to 7,490,221 shares, representing 5% of its 149,362,936 outstanding shares as of January 2, 2024.
Since the initial NCIB launch in October 2022, the company has repurchased and cancelled 10,993,391 shares at an average price of C$0.78, totaling $6,352,869 (C$8,579,914). The renewed NCIB will run from January 3, 2025, to January 2, 2026, with purchases made on the open market through TSX at market prices plus brokerage fees. Desjardins Securities will facilitate the share purchases.
Andean Precious Metals (TSXV: APM, OTCQX: ANPMF) has issued a statement regarding its dispute with Silver Elephant Mining over their Master Services Agreement (MSA) dated September 11, 2023. The company denies any default allegations, including a US$1 million payment obligation, and considers Silver Elephant's MSA termination wrongful. Andean claims Silver Elephant failed to fulfill several material obligations, including maintaining its Mining Production Contract with COMIBOL and providing necessary access for oxide minerals mining. The company is working with legal counsel to dispute the termination while sourcing replacement tonnage from alternative suppliers to maintain operational continuity.
Andean Precious Metals (TSXV: APM) (OTCQX: ANPMF) has received conditional approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange (TSX). This uplisting represents a significant milestone for the company, aimed at enhancing visibility and broadening its investor base through improved access and liquidity.
The company will maintain its trading symbol APM and transition to APM.TO on the TSX once final conditions are met. Shareholders won't need to take any action regarding their share certificates as there will be no changes to the trading symbol or CUSIP for the common shares.
Andean Precious Metals (ANPMF) reported strong Q3 2024 financial results with record $98.1 million in cash and investments, driven by $17 million in free cash flow and $23.4 million in operating cash flow. The company achieved consolidated revenue of $68.4 million with gold sales at $2,413/oz and silver at $31.40/oz. Production reached 29,284 gold equivalent ounces across operations. Golden Queen faced temporary production challenges due to crusher circuit suspension, while San Bartolomé showed improved recovery at 83%. The company reaffirmed its 2024 guidance but expects production at the lower end, with increased AISC guidance to $1,950 per gold ounce at Golden Queen due to additional capital expenditures.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) has announced its upcoming third quarter 2024 financial and operating results release and conference call schedule. The company will report its Q3 2024 results after market close on Monday, November 11, 2024. Following this, management will host a conference call and webcast on Tuesday, November 12, 2024, at 9:00 am ET to discuss the results.
Participants can join the conference call via webcast by registering on the company's website or through provided dial-in numbers. The North American toll-free number is 1-844-763-8274, while participants outside the U.S. or Canada can call 1-647-484-8814. An archived replay of the webcast will be available for 90 days on the company's website and the provided link.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) has published its 2023 Sustainability Report, highlighting significant progress in Environmental, Social, and Governance (ESG) performance. Key achievements include:
- Environmental: ISO 14001:2015 certification, reduced emissions to 5.20 kg CO₂e/oz, and zero significant environmental incidents.
- Social: Strong economic contribution to Potosi, implementation of Indigenous Development Plan, and improved gender impact in local communities.
- Health and Safety: Renewed ISO 45001:2018 certification and introduced an electronic reporting system for safety risks.
The company's Bolivian subsidiary, Empresa Minera Manquiri, renewed certifications including the RMI Responsible Minerals Initiative for silver. Andean Precious Metals remains committed to sustainable mining practices and positive community impact.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) held its Annual General Meeting of Shareholders on August 15, 2024. The meeting saw a strong shareholder turnout, with 88.37% of the company's total issued and outstanding shares represented. Shareholders approved all management resolutions, including:
- Fixing the number of directors at seven
- Electing seven members to the Board of Directors
- Re-approving KPMG LLP as the company's auditors
The elected Board members are Grant Angwin, Yohan Bouchard, Felipe Canales, Peter Gundy, Alberto Morales, Ramiro Villarreal, and Michele Ashby.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) reported record consolidated production and revenues for Q2 2024. Highlights include:
- 29,888 gold equivalent ounces produced, a 40% increase from Q1 2024
- $69.8 million in consolidated revenue, up 62% from Q1 2024
- $14.5 million gross profit, compared to $3.2 million in Q1 2024
- $9.4 million net income, versus a $0.1 million loss in Q1 2024
- Strong liquid assets of $87.0 million as of June 30, 2024
- New Fine Minerals Processing Facility commissioned on July 23, 2024
The company maintained its 2024 production guidance of 115,000 gold equivalent ounces (+/- 5%) and cost guidance for its Golden Queen and San Bartolomé operations.
Andean Precious Metals (TSXV: APM) (OTCQX: ANPMF) has announced the commissioning of the Fines Disposal Facility (FDF) at its San Bartolomé Silver Mine in Bolivia. The new Fine Minerals Processing Plant is now operational, processing 1,300 tonnes per day with plans to increase to 1,500 tonnes per day in Q3 2024. The FDF contains 3.3 million tonnes of proven and probable mineral reserves grading 58 g/t of silver, with initial silver grades of 25 g/t expected to increase as production progresses.
The project aims to enhance sustainability by utilizing previously considered waste material as a valuable resource. CEO Alberto Morales expects the FDF to improve the mine's overall performance and gross operating margin. Additionally, the company announced that Segun Odunuga will be stepping down as EVP, Finance, effective July 31, 2024.