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 a 20% increase in its cash dividend to $0.12 per share, expected to distribute approximately $25.3 million on March 21, 2022. The financial results for Q4 2021 included net earnings of $14.7 million and annual revenue of $1.6 billion. The company experienced improved cash flow from operations amounting to $118.1 million in Q4, alongside a strong cash balance of $283.6 million at the end of 2021. An ongoing restructuring of the Morococha operation places it on care and maintenance while exploring alternatives for its future.
On January 19, 2022, Pan American Silver (NASDAQ: PAAS) released preliminary production results for Q4 and FY 2021. The company produced 19.2 million ounces of silver and 579.3 thousand ounces of gold, both within revised guidance. Notably, Dolores mine achieved record gold production of 160.1 thousand ounces. Despite production improvements, operations faced constraints due to COVID-19, leading to reduced workforce levels. The company has postponed the 2022 production and costs guidance, which will be provided with the audited results on February 23, 2022.
On December 20, 2021, the Province of Chubut's executive in Argentina repealed a legislative bill that would have allowed open pit mining in certain zones. Pan American Silver Corp. (NASDAQ: PAAS) owns 100% of the Navidad silver project in Chubut and advocates for sustainable mining to benefit local communities. The company emphasizes the potential positive impacts of properly conducted mining activities on the region's economy.
Pan American Silver Corp. (NASDAQ: PAAS) announced that on December 15, 2021, the Province of Chubut in Argentina approved a bill to amend the provincial mining law, potentially allowing open pit mining in designated areas including the Navidad silver project. The proposed bill requires executive approval to become law. Pan American Silver, which fully owns Navidad, is committed to sustainable practices and is evaluating the project's development, including community engagement and permitting timelines.
Pan American Silver Corp. (NASDAQ: PAAS) announced results from its La Colorada Skarn deposit drilling program, revealing high-grade intercepts and significant potential for resource expansion. The company completed 36,000 meters of infill and 14,000 meters of exploration drilling in 2021, with an additional 18,000 meters planned. Infrastructure projects are underway, including a ventilation shaft and ramp access. Notably, drillhole S-03-A-21 returned 264.1 meters of 60 g/t Ag, and U-67-21 showed 114.6 meters of 133 g/t Ag. However, the preliminary economic assessment will be delayed to focus on further studies.
Pan American Silver Corp. reported record quarterly revenue of $460.3 million for Q3 2021, driven by improved silver production of 4.8 million ounces and gold production of 142.6 thousand ounces. Operating cash flow reached $157.0 million. Challenges remain due to labor shortages and COVID-19 related costs, although productivity is expected to improve. Net income was $20.2 million, impacted by a non-cash loss and high tax expenses. The company revised its full-year production guidance to 19.0-20.0 million ounces of silver and 560.0-588.0 thousand ounces of gold.
Pan American Silver Corp. (NASDAQ: PAAS) will release its third quarter 2021 unaudited results on November 9, 2021, after market close. A conference call and webcast to discuss these results will be held on November 10, 2021, at 10:00 am ET (7:00 am PT). Investors can join via toll-free dial-in numbers provided in the release or access the live webcast and presentation slides on panamericansilver.com. An archive of the webcast will remain available for three months.
Pan American Silver Corp. (NASDAQ: PAAS) reported its mineral reserves and resources as of June 30, 2021, boasting approximately 529 million ounces of silver and 4.2 million ounces of gold in proven and probable reserves. Measured and indicated resources total around 818 million ounces of silver and 8.3 million ounces of gold. Key projects like La Arena and Timmins saw significant reserve replacements, extending mine life by more than a year. However, the La Bolsa project was reclassified, reducing reserves by 315 thousand ounces of gold and 4.5 million ounces of silver. Overall exploration activities were cut by 50% due to COVID-19 restrictions.
Pan American Silver Corp. (PAAS) reported strong Q2 2021 results with revenue of $382.1 million and net income of $71.2 million, reflecting increased mine operating earnings of $103 million. Cash and short-term investments rose by $34 million, prompting a quarterly dividend increase from $0.07 to $0.10 per share, payable on September 3, 2021. Silver production reached 4.5 million ounces, while gold production was 142.3 thousand ounces. The company maintains its 2021 production forecast for silver (20.5 to 22.0 million ounces) and gold (605.0 to 655.1 thousand ounces).
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