Pan Amern Silver Corp Stock Price, News & Analysis

Pan American Silver Corp. (NASDAQ: PAAS) reported its Q4 2022 and FY 2022 financial results, reflecting challenges like inflation and production cost increases. Q4 revenue was $375.5 million, down from $422.2 million the previous year, impacted by inventory build-up. The company faced a net loss of $172.1 million, or $0.82 loss per share, while total revenue for FY 2022 was $1.5 billion. Cash flow from operations was negative at $112.1 million in Q4. Notably, the acquisition of Yamana Gold was approved, expected to diversify and strengthen Pan American’s portfolio. A $0.10 dividend per share was declared for March 2023.

Pan American Silver Corp. (NASDAQ: PAAS) announced that shareholders overwhelmingly approved the issuance of up to 156,923,287 common shares as part of its arrangement with Agnico Eagle Mines Limited and Yamana Gold Inc. At a special meeting, 97.28% of votes supported the Share Issuance Resolution, with only 2.72% against. This strategic acquisition aims to enhance Pan American's position in silver and gold production in Latin America. The Arrangement is expected to close within Q1 2023, pending court and regulatory approvals.

Pan American Silver Corp. (NASDAQ: PAAS) announced its preliminary production results for Q4 2022 and FY 2022. Silver production totaled 18.5 million ounces, aligning with revised guidance. Gold production achieved 552.5 thousand ounces, within original guidance. The company reported zinc production at approximately 38 thousand tonnes, lead at 18 thousand tonnes, and copper at 5 thousand tonnes, with slight variances from guidance. The results reflect strong performance, primarily at Shahuindo and La Arena. Audited financial results will be released on February 22, 2023, alongside 2023 guidance following Yamana transaction completion.

On December 28, 2022, Pan American Silver Corp. (NASDAQ: PAAS) announced the filing of a management information circular for a special meeting regarding its proposed acquisition of Yamana Gold Inc. and the subsequent sale of Yamana's Canadian assets to Agnico Eagle Mines Limited. The meeting is set for January 31, 2023, where shareholders will vote on issuing 156,923,287 shares to Yamana's shareholders. This acquisition is projected to enhance Pan American's scale, liquidity, and production capabilities in Latin America, with expected annual silver production increase of 9.5Moz and significant cost efficiencies.

Pan American Silver Corp. (NASDAQ: PAAS) reported Q3 2022 results, highlighting significant challenges from softening precious metal prices and inflationary costs. Silver production reached 4.5 million ounces, while gold production was 128.8 thousand ounces, generating revenue of $338.9 million, down from $460.3 million year-over-year. The company faced a net loss of $71.2 million, affected by inventory adjustments and investment losses. Management revised 2022 silver production estimates down to 18.0-18.5 million ounces. A proposed acquisition of Yamana Gold aims to boost silver and gold production significantly.

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced the effectiveness of their arrangement agreement with Yamana Gold, following the termination of Gold Fields' agreement with Yamana. This agreement allows Pan American to contribute $150 million towards a $300 million termination fee that Yamana owes to Gold Fields. As a result, a previously scheduled special meeting of Yamana shareholders is cancelled. Both companies continue to enhance their operational foothold in the mining sector, focusing on silver and gold production.

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced the execution of an agreement to acquire Yamana Gold. This agreement follows their definitive binding offer dated November 4, 2022, where Pan American aims to acquire all outstanding shares of Yamana. Yamana's board has deemed this a "superior proposal" compared to an existing offer from Gold Fields. The Pan American-Agnico agreement will be effective if the Gold Fields transaction is not approved at the Yamana shareholder meeting on November 21, 2022, or if Gold Fields terminates its agreement, potentially incurring a $300 million termination fee.

On November 8, 2022, Pan American Silver and Agnico Eagle Mines announced that Yamana Gold executed an arrangement agreement to proceed with the Pan American-Agnico Transaction, where Pan American will acquire all common shares of Yamana. This follows Yamana’s board deeming this offer a 'Superior Proposal' after Gold Fields waived its right to match. Shareholders will vote against the Gold Fields Transaction at the Yamana Meeting on November 21, 2022. The agreement's effectiveness hinges on the Gold Fields transaction's outcome, with a potential $300 million termination fee for Yamana if the Gold Fields Agreement is terminated.

Pan American Silver Corp. (TSX: PAAS) and Agnico Eagle Limited (TSX: AEM) have submitted a binding offer to acquire Yamana Gold Inc. The deal proposes Pan American to acquire all outstanding shares of Yamana, consolidating control over the Canadian Malartic mine. The offer values each Yamana share at approximately US$5.02, reflecting a 23% premium. The transaction aims to create a leading precious metals producer in Latin America, boosting annual silver production by about 50% and gold production by 100%. The Arrangement is expected to close in Q1 2023, subject to various approvals.