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 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.
On June 11, 2024, Andean Precious Metals (TSXV: APM, OTCQX: ANPMF) announced the grant of 2,195,236 restricted share units (RSUs) to certain executive officers, employees, and consultants under the company's Omnibus Long-Term Incentive Plan.
These RSUs will vest in three equal installments: one-third after 12 months, one-third after 24 months, and the remaining third after 36 months. Upon vesting, each RSU will be converted to one common share of Andean or a cash payment, as agreed upon by the participant and the company.
Andean Precious Metals (TSXV: APM, OTCQX: ANPMF) reported a robust Q1 2024, with significant production and revenue gains despite some operational challenges. The company produced 1.8 million silver equivalent ounces (AgEq oz), an 82% increase from Q1 2023, with Golden Queen contributing 11,490 AuEq oz. Q1 revenue was $43.1 million, nearly double the $23.0 million from Q1 2023. Gross operating income increased to $3.2 million from $0.4 million. However, the company recorded a net loss of $0.1 million. Operating costs per ounce sold were $1,936, with all-in sustaining costs at $1,627. Andean reaffirmed its 2024 guidance, with expected annual production of 60 Koz AuEq at Golden Queen and 5.0 Moz AgEq at San Bartolome. A share buyback program continued, repurchasing 5.3 million shares. The company maintains strong liquid assets of $72.8 million to support strategic growth initiatives and has strengthened its management team with new COO Marcos Holanda.
Andean Precious Metals Corp. will announce its first quarter 2024 financial and operating results on May 13, 2024, followed by a conference call and webcast on May 14, 2024. Participants can join via webcast or dial-in numbers. The archived webcast will be available for 90 days.
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