Welcome to our dedicated page for Pan Amern Silver news (Ticker: PAAS), a resource for investors and traders seeking the latest updates and insights on Pan Amern Silver stock.
Pan American Silver Corp. reports news on silver and gold mining operations, exploration and development across the Americas. Company updates commonly cover mine operating results, silver and gold production, costs, cash flow, and capital allocation through dividends and common share repurchases under its normal course issuer bid.
Recurring announcements also address the La Colorada mine in Zacatecas, Mexico, including skarn project studies, high-grade vein drilling, mineral resource work and technical reports. Governance news includes annual meeting materials, director elections, auditor appointments and say-on-pay results.
Pan American Silver (NYSE: PAAS) reported strong financial results for Q4 and FY 2024, achieving record revenue of $815.1M in Q4 and $2.8B for the full year. The company generated record free cash flow of $196.2M in Q4 and $445.1M in FY 2024.
Silver production reached 6.0M ounces in Q4 and 21.1M ounces in FY 2024, while gold production hit 224.2K ounces in Q4 and a record 892.5K ounces in FY 2024. Net earnings were $107.8M ($0.30 per share) in Q4 and $112.7M ($0.31 per share) for FY 2024.
The company maintains a strong financial position with $1.6B in total available liquidity, including $887.3M in cash and short-term investments. A quarterly dividend of $0.10 per share was declared, and the company repurchased 1.7M shares in 2024 at an average price of $14.16.
Pan American Silver (NYSE: PAAS) achieved its 2024 production guidance with 21.1 million ounces of silver and 892 thousand ounces of gold. The company also met targets for zinc, lead, and copper production. Q4 2024 showed strong performance with 6.0 million ounces of silver production, including 1.6 million ounces from La Colorada mine in Mexico.
The company ended 2024 with a record cash and short-term investments of $887.3 million, including $862.8 million in cash and $24.5 million in short-term investments. This represents a $417.4 million increase from September 2024, partly due to the $306.6 million proceeds from the La Arena mine sale. With an undrawn revolving credit facility, total available liquidity reached $1,637.3 million by year-end.
Notable achievements include Jacobina mine's record gold production of 197 thousand ounces in 2024, and La Colorada's improved performance due to new ventilation infrastructure.
Pan American Silver (NYSE: PAAS) released its annual exploration update, highlighting drilling results across multiple mines. The company increased its 2024 drill budget to over 450,000 metres based on positive exploration results. Key findings include: high-grade gold intercepts at Jacobina (up to 116.41 g/t Au), significant silver-gold grades at El Peñon (up to 2,547 g/t Ag), discovery of 13 new veins at La Colorada with high-grade silver mineralization (up to 9,618 g/t Ag), and promising results from the Whitney Project including a notable intercept of 360 g/t Au over 2.4 metres. The exploration program demonstrates potential for long-term organic growth across multiple assets.
Pan American Silver Corp. has completed the sale of its La Arena gold mine and La Arena II project in Peru to Zijin Mining Group's subsidiary for US$245 million in cash. The deal includes a 1.5% gold net smelter return royalty for La Arena II and a potential US$50 million additional payment upon commercial production. Pan American secured rights to purchase up to 60% of future copper concentrate from La Arena II for North American markets through an offtake agreement approved by the Government of Canada.
Pan American Silver Corp. (NYSE: PAAS) has received Investment Canada Act approval for the sale of its La Arena gold mine and La Arena II project in Peru to Zijin Mining Group. The deal includes a US$245 million cash payment and a 1.5% gold net smelter return royalty for the La Arena II project. The approval requires Pan American to secure 60% of future copper concentrate supply from La Arena II for North American markets. An additional US$50 million payment is contingent upon La Arena II reaching commercial production. The transaction is expected to close by Q4 2024.
Pan American Silver reported record financial results for Q3 2024, including record free cash flow of $151.5 million. Revenue reached $716.1 million, with net earnings of $57.1 million ($0.16 per share) and adjusted earnings of $115.1 million ($0.32 per share). The quarter saw silver production of 5.47 million ounces and gold production of 225,000 ounces.
The La Colorada mine showed significant improvements with a 59% increase in silver production and 26% decrease in cash costs compared to Q2 2024. Cash and short-term investments increased by $101.3 million to $469.9 million. The company declared a quarterly dividend of $0.10 per share and maintains its 2024 Operating Outlook.
Metalla Royalty & Streaming (NYSE American: MTA) (TSXV: MTA) reports portfolio updates for several projects:
Gosselin (1.35% NSR): Drilling has extended mineralization outside the current resource pit shell, including potential connection between Côté and Gosselin deposits.
Endeavor (4.0% NSR): $20M funding secured for mine restart, with production expected in H1-2025. Recent drilling shows potential for increased ore extraction rates.
La Guitarra (2.0% NSR): Mining ramp-up continues, with commercial production expected before year-end. Current throughput averages 350 tonnes per day.
Joaquin (2.0% NSR): New operator plans comprehensive exploration program to boost resource estimate and publish maiden JORC (2012) MRE in H1-2025.
Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) has announced that it will release its unaudited results for the third quarter of 2024 after market close on Tuesday, November 5, 2024. The company will host a conference call and webcast to discuss the results on Wednesday, November 6, 2024, at 11:00 am ET (8:00 am PT).
Interested parties can access the conference call using the following dial-in numbers:
- 1-888-259-6580 (toll-free in Canada and the U.S.)
- +1-416-764-8624 (international participants)
The conference ID is 97750876. A live webcast, presentation slides, and the Q3 2024 report will be available on the company's website. An archive of the webcast will be accessible for three months following the event.
Pan American Silver (NYSE: PAAS) reported its estimated mineral reserves and resources as of June 30, 2024. Proven and probable reserves include approximately 468 million ounces of silver and 6.9 million ounces of gold. Measured and indicated resources, excluding reserves, total about 1,148 million ounces of silver and 15.5 million ounces of gold. Inferred resources are approximately 366 million ounces of silver and 9.4 million ounces of gold. Notable increases were seen at the La Colorada Skarn project, where indicated silver resources jumped to 309 million ounces. The company plans to drill over 360,000 meters in 2024 to focus on near-mine exploration.
Pan American's exploration efforts have replaced mine production and expanded mineral reserves at multiple sites, including Jacobina and La Colorada. The divestment of non-core assets resulted in a reduction in overall mineral reserves and resources. At Jacobina, inferred gold resources increased by 1.2 million ounces. The company aims to continue its successful exploration efforts in the upcoming year.
Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) reported unaudited results for Q2 2024. Key highlights include:
- Record revenue of $686.3 million
- Net loss of $21.4 million ($0.06 basic loss per share)
- Adjusted earnings of $40.0 million ($0.11 per share)
- Record cash flow from operations before working capital changes of $203.3 million
- Free cash flow of $102.1 million
- Silver production of 4.57 million ounces
- Gold production of 220.4 thousand ounces
The company reaffirms its 2024 Operating Outlook but expects annual silver production to be towards the low end of its guidance range. Cash and short-term investments increased to $368.6 million. A cash dividend of $0.10 per common share was declared for Q2 2024.