Pan American Silver Completes the Sale of La Arena
Under the terms of the agreement, Zijin paid
As part of the approval received from the Government of
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Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the anticipated commencement of production from the La Arena II project, if any; the potential receipt of the future contingent payment and the realization of any value in respect of the gold net smelter return royalty granted in connection with the transaction; and the amount of copper concentrates available from the La Arena II project, if any, and Pan American’s ability to secure and complete future sales of any such copper concentrates within North American markets.
These forward-looking statements and information reflect Pan American’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: whether commercial production from the La Arena II project will be achieved, and the timing for any such commercial production; the benefits and value, if any, of the gold net smelter return royalty granted in connection with the transaction; tonnage of ore to be mined and processed from the La Arena II project, if any; future anticipated prices for gold, copper and other metals and assumed foreign exchange rates; ore grades and recoveries from the La Arena II project; capital costs for the La Arena II project and the availability of capital for development and construction; all necessary permits, licenses and regulatory approvals for the La Arena II project are received; and the amount, if any, of supply of copper concentrates from the La Arena II project and, if available, the future sales of any such copper concentrates within North American markets. The foregoing list of assumptions is not exhaustive.
Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); development and construction risks; risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241203648739/en/
For more information contact:
Siren Fisekci
VP, Investor Relations & Corporate Communications
Ph: 604-806-3191
Email: ir@panamericansilver.com
Source: Pan American Silver