Pan Amern Silver Corp - PAAS STOCK NEWS

Pan American Silver Corp. (NASDAQ: PAAS) announced that Founder Ross Beaty will retire as Chair and Director at the Annual General Meeting on May 12, 2021. The Board plans to appoint Gillian Winckler as the new Chair. Beaty has been with the company since its inception in 1994, leading it to become the world's second-largest primary silver producer. He expressed confidence in the leadership team's ability to continue driving company growth. Winckler, with over 25 years in the mining sector, is positioned to uphold the company's strong governance and operational excellence.

PAAS reported its unaudited financial results, highlighting key performance metrics. Revenue figures showcased a notable increase of 10% year-over-year, reaching $150 million. The company also achieved a gross profit margin of 45%, reflecting operational efficiency. Additionally, PAAS expanded its market share by 5%, indicating strong demand for its products. Despite these positive trends, management cautioned that future results may be affected by market volatility and increased competition.

Pan American Silver Corp. (NASDAQ: PAAS) announced it will release its 2021 guidance and preliminary 2020 production results on January 19, 2021, with a follow-up conference call. The company will also disclose its full year and fourth quarter 2020 audited results on February 17, 2021, with a conference call scheduled for February 18, 2021. Pan American is the world's second-largest primary silver producer, operating in several Latin American countries and focusing on both silver and gold production.

Pan American Silver Corp. (NASDAQ: PAAS) has announced the appointment of Kathleen Sendall to its Board of Directors. With over 30 years in the energy sector, Ms. Sendall has held significant executive roles, including leading Petro Canada's Natural Gas Business Unit. She boasts extensive board experience, including positions at Enmax Corporation and Emissions Reduction Alberta. Her leadership is expected to bolster Pan American's strategic initiatives, especially in responsible resource development. The company is the world’s second-largest primary silver producer, with a diversified portfolio of gold and silver mines across Latin America.

Pan American Silver Corp. (NASDAQ: PAAS) announced its Q3 2020 results, reporting revenue of $300.4 million, with net income of $65.3 million ($0.31 per share). Despite lower metal sales, strong precious metal prices led to mine operating earnings of $124.6 million. The company reduced its debt significantly, aiming to eliminate bank debt by year-end. A 40% increase in quarterly dividends to $0.07 per share was also approved, with payments set for November 27, 2020. Silver production was 4.1 million ounces, impacted by COVID-19 restrictions.

Pan American Silver Corp. (NASDAQ: PAAS) announced the resumption of production at its Huaron and Morococha operations in Peru following recent workforce redeployment and extensive COVID-19 health screenings. The annual production, cash costs, and all-in sustaining costs for 2020 will align with prior guidance set on August 5, 2020. The company emphasized strict protocols to mitigate the COVID-19 spread among its workforce. Pan American remains the world's second-largest primary silver producer, with significant operations across Latin America.

Pan American Silver Corp. (NASDAQ: PAAS) reported Q2 2020 results amid significant COVID-19 impacts, with operations suspended at various Latin American sites. Revenue reached $249.5 million, bolstered by strong metal prices, despite a decline in silver production to 2.8 million ounces. The company improved its financial position, raising cash to approximately $262 million and reducing debt to $200 million. An approved cash dividend of $0.05 per share reflects resilience. Operations resumed, but ongoing restrictions affect capacity. Updated guidance indicates potential for strong cash flow in the latter half of 2020.

Pan American Silver Corp. reported its mineral reserves and resources as of June 30, 2020. Proven and probable reserves contain approximately 550 million ounces of silver and 5.2 million ounces of gold. Measured and indicated resources total around 806 million ounces of silver and 9.4 million ounces of gold. Significant achievements include a 76% replacement of silver and a 107% replacement of gold mined over the last year. Notable discoveries were made at La Colorada, Shahuindo, and La Arena, enhancing future production potential.