Welcome to our dedicated page for Pan American Silver news (Ticker: PAAS), a resource for investors and traders seeking the latest updates and insights on Pan American Silver stock.
Pan American Silver Corp. (PAAS) is a leading mining company dedicated to the exploration, development, and operation of silver and gold-producing properties. Founded with the mission to offer investors a prime opportunity to benefit from rising silver prices, the company has established itself as a prominent player in the global mining industry.
Pan American Silver operates a portfolio of seven silver mines located in Argentina, Peru, Mexico, and Bolivia. These include the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, and San Vicente mines. In addition to silver and gold, the company also produces and markets zinc, lead, and copper, diversifying its revenue streams and enhancing its market position.
The company is known for its commitment to sustainability and excellence in mining. It continuously seeks to increase low-cost silver production through high-quality assets and maintains a robust mine-site exploration program to replace mined silver reserves and resources. Pan American Silver also actively engages in greenfield exploration and business development initiatives to add new reserves and resources.
With an industry-leading team of professionals possessing extensive experience in operations, construction, and exploration, Pan American Silver leverages its expertise to generate strong cash flows and sustainable profits. The company aims to provide significant leverage to higher silver prices, making it a valuable investment for those seeking exposure to the precious metals market.
Recent achievements include advancements in exploration projects and successful operational efficiencies across its mines. Pan American Silver continues to focus on growth and profitability, positioning itself as a pre-eminent silver producer with a reputation for excellence in the industry.
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.
Pan American Silver Corp. (NASDAQ: PAAS) announced an updated inferred mineral resource estimate for the La Colorada skarn deposit in Mexico, showing 100.4 million tonnes containing approximately 141 million ounces of silver. This marks a significant 38% increase in tonnes and silver ounces from the previous estimate in December 2019. Exploration drilling continues to reveal extensive mineralized systems, confirming the deposit's world-class potential. The company is advancing development with metallurgical studies and project engineering.
Pan American Silver Corp. (NASDAQ: PAAS) has announced the suspension of operations at its Huaron and Morococha mines in Peru due to COVID-19 concerns after several workers tested positive. The company will place these sites under care and maintenance with a reduced workforce, following comprehensive health protocols. Normal operations will resume only when it is deemed safe. Pan American, the second largest primary silver producer globally, maintains a strong presence in Latin America, with a diversified portfolio of assets.
Pan American Silver Corp. (NASDAQ: PAAS) has acquired an additional 450,000 shares of New Oroperu Resources Inc. (TSXV: ORO) by exercising warrants at CAD$0.20 each, yielding gross proceeds of CAD$90,000. Following this transaction, Pan American holds approximately 18.61% of New Oroperu's outstanding shares on a non-diluted basis. This investment is aimed at enhancing its portfolio, with the company retaining the option to buy additional shares or dispose of its holdings based on market conditions.
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