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Andean Precious Metals Corp. (ANPMF) is a growing precious metals producer with operations in Bolivia and California. The company focuses on top-tier jurisdictions in the Americas and is committed to creating value and responsible operations. With projects like the San Bartolomé processing facility and the Soledad Mountain mine, Andean is well-positioned for future growth opportunities.
Andean Precious Metals (ANPMF) reported strong Q3 2024 financial results with record $98.1 million in cash and investments, driven by $17 million in free cash flow and $23.4 million in operating cash flow. The company achieved consolidated revenue of $68.4 million with gold sales at $2,413/oz and silver at $31.40/oz. Production reached 29,284 gold equivalent ounces across operations. Golden Queen faced temporary production challenges due to crusher circuit suspension, while San Bartolomé showed improved recovery at 83%. The company reaffirmed its 2024 guidance but expects production at the lower end, with increased AISC guidance to $1,950 per gold ounce at Golden Queen due to additional capital expenditures.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) has announced its upcoming third quarter 2024 financial and operating results release and conference call schedule. The company will report its Q3 2024 results after market close on Monday, November 11, 2024. Following this, management will host a conference call and webcast on Tuesday, November 12, 2024, at 9:00 am ET to discuss the results.
Participants can join the conference call via webcast by registering on the company's website or through provided dial-in numbers. The North American toll-free number is 1-844-763-8274, while participants outside the U.S. or Canada can call 1-647-484-8814. An archived replay of the webcast will be available for 90 days on the company's website and the provided link.
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.
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