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. (OTCQX: ANPMF; TSX: APM) generates a steady stream of operational, financial and exploration news tied to its gold and silver assets in the Americas. The company describes itself as a growing precious metals producer and regularly reports on performance at its San Bartolome processing facility in Potosí, Bolivia and its Golden Queen mine in Kern County, California.
News releases from Andean commonly cover quarterly and year-to-date financial results, including revenue, income from operations, net income, adjusted EBITDA and non-GAAP operating metrics such as operating cash costs, all-in sustaining costs, cash gross operating margin and gross margin ratios. These updates often discuss how realized gold and silver prices, production volumes and cost performance at San Bartolome and Golden Queen affect the company’s financial position and liquidity.
Operational news focuses on consolidated and site-level production statistics, gold equivalent ounces, and performance relative to annual production guidance. The company also issues detailed exploration updates, particularly for Golden Queen, outlining multi-phase drilling programs in areas such as the Silver Queen Southeast trend, Alphason, Hilltop and the Starlight Vein, as well as exploration and oxide ore sourcing initiatives around San Bartolome in partnership with COMIBOL.
Corporate and capital markets announcements include information on revolving credit facilities, base shelf prospectus filings, agreements with COMIBOL to purchase oxide ore, normal course issuer bids, and the results of shareholder meetings. Investors and followers of ANPMF can use this news page to review Andean’s historical and ongoing disclosures on production, exploration progress, financing arrangements and strategic priorities across its precious metals portfolio.
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.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) has announced the commissioning of production from the Fines Disposal Facility (FDF) at the 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 an estimated 3.3 million tonnes of proven and probable mineral reserves grading 58 g/t of silver.
The project aims to enhance sustainability by utilizing previously considered waste material as a valuable resource. Initial silver grades during startup will be 25 g/t, with average extractions expected to range from 69.76% to 75.56%. The company also announced that Segun Odunuga will be stepping down as EVP, Finance, effective July 31, 2024.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) has announced its upcoming second quarter 2024 financial results release and conference call schedule. The company will report its Q2 2024 results after market close on August 13, 2024, followed by a conference call and webcast on August 14, 2024, at 9:00 am ET. Participants can join via webcast or dial-in numbers provided.
Additionally, Andean will hold its Annual General Meeting (AGM) on August 15, 2024, at 12:00 pm ET in Toronto, Ontario. Shareholders of record as of July 3, 2024, are eligible to vote. The management information circular with voting details is available on SEDAR+.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) has engaged ICP Securities Inc. for automated market making services. ICP will use its proprietary algorithm, ICP Premium™, in compliance with TSX Venture Exchange policies and applicable legislation. The agreement includes:
- A fee of C$7,500 plus taxes per month, payable in advance
- An initial term of four months, automatically renewable for subsequent one-month terms
- No performance factors or stock options included
ICP's role will primarily focus on correcting temporary imbalances in the supply and demand of Andean's shares. ICP is an arm's length party to Andean and will be responsible for its own costs in buying and selling the company's shares.
Andean Precious Metals has appointed Sylvain Lessard as President and General Manager of Golden Queen Mine, effective July 11, 2024. Lessard, with over 30 years of experience in the mining sector, has a distinguished career that includes senior roles at Hecla Quebec, Casa Berardi Mine, and Tacora Resources. His expertise in open pit mining operations and strategic leadership aligns with Andean's goals of operational excellence and cost control. Lessard holds a Bachelor of Science in Mining Engineering from École Polytechnique de Montréal and has professional training in Lean Management and Leadership. This appointment aims to strengthen Andean's position in the industry.
Andean Precious Metals announced the grant of 227,398 restricted share units (RSUs) to certain executive officers as a special bonus for the successful closing of the Golden Queen Transaction on April 2, 2024. These RSUs, approved by the Board, will vest 12 months from the date of grant. Upon vesting, each RSU will be converted into one common share of Andean or may be settled via a cash payment if both parties agree.
Andean Precious Metals, through its subsidiary Soledad Holdings, announced its decision not to pay the remaining balance for acquiring Golden Queen Mining Company in common shares.
As previously stated on November 27, 2023, Andean had finalized the acquisition on November 24, 2023, from Auvergne Umbrella This decision to opt for cash payments over common shares is irrevocable. The company's ticker on TSXV is APM and on OTCQX is ANPMF.