| | Publié le 10 novembre 2007 | Production Growth and Prices Drive Earnings and Cash Flow Records for Pan American |
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Article
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Commentaires
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Commenter
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Notation
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♥
Suivre la société
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For Immediate Release
November
9, 2007
Production growth and prices drive earnings and cash flow records for
PAN AMERICAN
(All amounts in US Dollars unless otherwise stated)
THIRD QUARTER 2007 HIGHLIGHTS
|
·
Record quarterly silver production of 4.5 million
ounces, up 38% over Q3 2006.
·
Net income of $23.9 million ($0.31/share), up 46% from
$16.4 million ($0.22/share) in Q3 2006.
·
Record quarterly cash flow from operating
activities of $33.3 million, before changes in non-cash operating working
capital.
·
Record quarterly sales of $87.9 million,
up 37% over Q3 2006.
·
Alamo Dorado silver production increased to
almost 1.0 million ounces. September production was 460,000 ounces, 8%
higher than feasibility projections.
·
Construction at Manantial Espejo mine in Argentina
45%
complete and progressing well.
·
On target to produce nearly 17 million ounces of
silver in 2007 and 25 million ounces in 2009.
|
* Financial information in this
news release is based on Canadian GAAP.
FINANCIAL RESULTS
Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAA) today reported that
consolidated net income for the third quarter of 2007 increased 46% to $23.9
million, or $0.31 per share, as compared to $16.4 million, or $0.22 per share,
in the year earlier period. The Company also generated record quarterly
cash flow from operations of $33.3 million, before changes in non-cash operating
working capital items. The improved financial results for the quarter
were primarily due to the positive contribution to earnings and cash flow from the
Company’s new Alamo Dorado mine, increased silver and base metal
production and increased silver and lead prices. Net income in the third
quarter of 2007 also benefited from the recognition of a further $2.25 million
from the gain on the sale of the Company’s interest in the Dukat mine in Russia.
Third quarter sales increased by 37% as compared to the year earlier
period, to $87.9 million, primarily due to increased silver and base metal production
and higher prices. During the third quarter the Company was able to ship
all of the concentrate it produced. However for the year, concentrate
shipments and therefore revenue recognition still lags production. At
September 30, 2007 the Company had approximately 12,300 tonnes of concentrate inventory
on hand as compared to approximately 3,700 tonnes at December 31, 2006.
The Company expects to ship and record sales on all the concentrates produced
in 2007 by the end of the year.
Cost of sales during the third quarter were $49.2 million, a
significant increase from the $30.8 million recorded in the same period in
2006. Higher cost of sales directly reflected the inclusion of Alamo
Dorado production costs, as well as the effects of industry-wide escalation in
labour costs, consumable and reagent costs and stronger local currencies.
Commenting on the third quarter, Geoff Burns,
President and CEO, said: “As expected, we
delivered production growth, earnings growth and cash flow growth. Our
construction initiatives at our two newest projects Manantial Espejo and San
Vicente are progressing extremely well. By all measures Pan American had
an excellent quarter, however with silver prices continuing to rally and our
silver production continuing to grow strongly, I firmly believe that the best
still lies ahead.”
Working capital at September 30, 2007 was $207.4 million, an increase
of $6.3 million from June 30, 2007. Capital expenditures in the quarter
were $29.7 million, of which $16.4 million was spent on construction of the
Manantial Espejo mine in Argentina
and $1.8 million on the expansion project at the San Vicente mine in Bolivia.
PRODUCTION AND OPERATIONS
The Company produced 4.5 million ounces of silver
in the third quarter, 6% more than in the second quarter of this year and 38%
more than in the comparable period of 2006. This is the sixth consecutive
quarter that Pan American has delivered silver production growth. In
addition, consolidated zinc, lead and copper production increased across the
board in the third quarter. All of the Company’s mines demonstrated
solid operating performance in the third quarter; most notable were Alamo
Dorado and San Vicente where production increased 16% and 36%, respectively, as
compared to the second quarter 2007.
Cash costs in the third quarter increased to $3.32 per ounce of silver,
from $1.57 per ounce recorded in the comparable period in 2006. Cash
costs increased as a result of increased production from Alamo Dorado, where
by-product credits are limited, and general
cost escalation at all of the Company’s operations. Year over year,
cash costs on a per tonne mined and milled basis have increased by
approximately 16%, on average.
PERU
Silver production at Morococha
in the third quarter of 2007 totaled 750,603 ounces, or 8% more than in the
year earlier period. Despite increased mining costs associated with
higher milling rates and the purchase of a small quantity of high grade ore,
cash costs were negative $2.92, as byproduct credits continued to be greater
than operating costs. Development of the Manto Italia ramp, which is
designed to provide long term access to several untapped mining zones at
Morococha continued to move forward during the quarter. This two year
ramp and infrastructure project is a key component of our long term plans for
Morococha.
The Huaron mine had a
solid third quarter, producing 950,797 ounces of silver. Cash costs were
$2.93 per ounce for the quarter,
higher than the $2.32 per ounce recorded in the year earlier period primarily
as a result of general cost escalation that has been previously
described. Earlier this year, a mine deepening project was initiated at
Huaron, an investment in the long term future of the operation. A
significant portion of the highest grade reserves and resources at Huaron are
located below the 250 level and this project, which includes driving a ramp
below the 250 level and the deepening of a pre-existing shaft will open up a
new mining area and provide access to higher grade ore for years to come.
Third quarter silver production at the Quiruvilca mine was 408,888
ounces and cash costs remained steady at $1.33 per ounce. However, production for the quarter was modestly
below expectations as the operation mined lower grade ore in order to supply
the mill with sufficient tonnage, while work to access deeper and higher grade
ore veins in the southern area of the mine continued. The ramp is now
scheduled to be completed by the end of the year.
The Silver Stockpile
operation produced 117,252 ounces of
silver in the third quarter at a cash cost of $2.49 per ounce.
MEXICO
Silver production at the Company’s new Alamo Dorado mine steadily improved during the third quarter
and the operation is now exceeding original feasibility estimates. In
September the mine produced 460,000 ounces of silver, at a cash cost of $3.88,
surpassing our original plans by 8%.
During the third quarter, Alamo Dorado produced 994,325 ounces of
silver at a cash cost of $5.02 per ounce. Cash costs were somewhat higher
than expected, primarily due to failure of one of two boilers used to preheat
refinery solutions, which negatively impacted gold recoveries and associated
byproduct credits. The boiler has been repaired, gold recoveries have
risen and as demonstrated in September, the Company expects that costs should
decline over the balance of the year.
The La Colorada mine had
another excellent quarter producing 995,453 ounces of silver, 8% more than in
the third quarter of 2006. It was the Company’s top silver producer
for the second consecutive quarter. Cash costs at La Colorada were $6.73
per ounce. Cash costs have declined compared to earlier this year, as
increased production has helped offset the effects of escalation. With
the operation running smoothly, attention at La Colorada has shifted to
exploration, with three diamond drill rigs working at the property for most of
2007. The Company looks forward to providing a formal update on the
positive results that have been achieved from this program when it publishes a
new reserve and resource statement in early 2008.
ARGENTINA
Mining and construction activities continued to ramp up at the Manantial Espejo project in Argentina.
On the mining side, the Melissa and Maria underground ramps have advanced a
total of 1,129 meters and we have intersected both veins as modeled.
Pre-stripping of the Karina Union and Maria pits is ahead of schedule with more
than 1.6 million tonnes moved to the end of September.
Construction activities have been accelerating rapidly with over 500
Pan American and contractor employees now on site. The tailings dam has
been completed, concrete placement is 56% complete, the administration and
laboratory buildings have been completed and should be occupied by the end of
November and steel erection for the main leaching and thickening tanks is in
progress. At the end of the third quarter, project expenditures totaled $72.8
million with total project commitments at
$93.9 million. To date, construction is on budget with mechanical
completion scheduled for May of 2008; however, possible delays in equipment
deliveries and contractor timing is putting this schedule under pressure.
Manantial Espejo is expected to produce an average of 4.1 million ounces of
silver and 60,000 ounces of gold annually.
BOLIVIA
Mining and mine expansion activities continued throughout the third
quarter at the high grade silver-zinc San
Vicente mine. The mine produced 236,412 ounces of silver at a
cash cost of $5.21 per ounce.
Mine development is moving ahead as planned with the advance of the
Litoral ramp approaching 400 meters. Plant construction and related
infrastructure expansion has been initiated. Civil work, consisting of
site clearing for the plant and associated facilities and the building of roads
was approximately 75% complete at the end of the quarter. The
construction camp is being finished and should be ready for occupancy shortly,
detailed engineering is nearing completion and all the major long lead time
equipment has been ordered. The San Vicente expansion project is still in
its early stages, but is off to a reasonable start.
The expansion project should be completed at the end of 2008 at a total
cost of approximately $40.5 million and when completed San Vicente should
produce an average of 2.8 million ounces of silver per year for at least the
first five years of full production.
***
Pan American Silver’s mission is to be the
largest and lowest cost primary silver mining company globally, and to achieve
this by constantly increasing its low cost silver production and its silver
reserves. Pan American has delivered 12 consecutive years of production
growth and expects to continue this trend in 2007 as silver production is on
track to increase by 31% to 17 million ounces in 2007, then increase to over 25
million ounces by 2009.
Selected
Financial and Operating Highlights for the third quarter 2007 are attached to
this news release. These should be read in conjunction with the
Company’s MD&A, Financial Statements and Notes to Financial
Statements for the corresponding period, which are available on the Company’s
website at www.panamericansilver.com,
and have been posted on Sedar at www.sedar.com.
The Company
reports the non-GAAP cash cost per ounce of payable silver in order to manage
and evaluate operating performance at each of the Company’s mines.
The measure is widely used in the silver mining industry as a benchmark for
performance, but does not have standardized meaning. To facilitate a
better understanding of this measure as calculated by the Company, we have
provided a detailed reconciliation of this measure to our cost of sales, as
shown in our unaudited Consolidated Statement of Operations for the period,
which can be found on page 6 of the MD&A.
Technical information contained in this press release has been reviewed
by Michael Steinmann, P.Geo., Senior
Vice President Geology & Exploration, who is the Company’s Qualified
Person for the purposes of NI 43-101.
Pan American will host a conference call to
discuss its financial and operating results on Monday, November 12, 2007 at
8:00 am PST (11:00 am EST). North American participants please dial toll-free 1-888-694-4728 and international participants please dial 1-973-582-2745. The call will also be
broadcast live on the internet at http://www.vcall..com/IC/CEPage.asp?ID=122299.
The call will be available for replay for one week after the call by dialing
1-877-519-4471 (for North American callers) and 1-973-341-3080 (for
international callers) and using the replay pin number 9368810.
For more information, please contact: Rob Doyle, Chief Financial Officer at (604)
684-1175 or e-mail Pan American at info@panamericansilver.com.
- End -
CAUTIONARY NOTE
REGARDING FORWARD-LOOKING STATEMENTS
This NEWS RELEASE contains “forward-looking
information” within the meaning of the UNITED STATES “Private
Securities Litigation reform act” of 1995 and applicable Canadian
securities legislation. Statements containing forward-looking information
express, as at the date of this NEWS RELEASE, the Company’s plans,
estimates, forecasts, projections, expectations, or beliefs as to future events
or results and the Company does not intend, and does not assume any obligation
to, update such statements containing the forward-looking information.
Generally, forward-looking information can be identified by the use of
forward-looking terminology such as “plans”, “projects”
or “projected”, “expects” or “does not
expect”, “is expected”, “estimates”,
“forecasts”, “scheduled”, “intends”,
“anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases, or statements
that certain actions, events or results “may”, “can”,
“could”, “would”, “might” or “will be
taken”, “occur” or “be achieved”. Statements
containing forward-looking information include, but are not limited to,
statements with respect to timing and budget of construction activities at
Manantial Espejo and SAN VICENTE, the expected results from exploration
activities, the economic viability of the development of newly discovered ore
bodies, the estimation of MINERAL RESERVES AND RESOURCES, future production
levels, expectations regarding mine production costs, THE REQUIREMENTS FOR
ADDITIONAL CAPITAL, the results of drilling, and Pan American Silver’s
commitment to, and plans for developing, newly discovered and existing
mineralized structures.
Statements containing forward-looking information involve
known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of Pan American
Silver and its operations to be materially different from those expressed or
implied by such statements. Such factors include, among others, risks related
to technological and operational nature of the Company’s business,
changes in LOCAL GOVERNMENT LEGISLATION, TAXATION OR the political or economic
environment, EXPOSURE TO FLUCTUATIONS IN THE COMPANY’S INVESTMENTS AND THE
LOCAL CURRENCIES OF THOSE COUNTRIES IN WHICH PAN AMERICAN CARRIES ON BUSINESS, the
actual results of current exploration activities, conclusions of economic
evaluations, changes in project parameters to deal with unanticipated economic
factors, future prices of silver, gold and base metals, increased COMPETITION
in the mining industry for properties, equipment, qualified personneL, and
their rising costs, unpredictable risks and hazards relating to the operation
and development of our mines or properties, UNEXPECTED WORK STOPPAGES OR LABOUR
DISPUTES, THE SPECULATIVE NATURE OF EXPLORATION AND DEVELOPMENT, FLUCTUATIONS
IN THE PRICE FOR NATURAL GAS, FUEL OIL AND OTHER KEY SUPPLIES, as well as those
factors described in the section “risk related to Pan American’s
business” contained in the Company’s most
recent form 40f/annual information form filed with the sec and canadian
provincial securities regulatory authorities. Although the Company has
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may
be other factors that cause results to be materially different from those
anticipated, described, estimated, assessed or intended. There can be no
assurance that any statements containing forward-looking information will prove
to be accurate as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue
reliance on statements containing forward-looking information.
Financial & Operating
Highlights
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Three
months ended
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Nine
months ended
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September
30
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September
30
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2007
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2006
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2007
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2006
|
|
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Consolidated Financial
Highlights (in thousands of US dollars)
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(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income for the period
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$
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23,891
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$
|
16,355
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$
|
62,798
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$
|
28,558
|
Basic income per share
|
$
|
0.31
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$
|
0.22
|
$
|
0.82
|
$
|
0.39
|
Mine operating earnings
|
$
|
29,125
|
$
|
29,221
|
$
|
75,416
|
$
|
78,256
|
Cash flow from operations (excluding
changes in non-cash operating working capital)
|
$
|
33,340
|
$
|
21,090
|
$
|
78,622
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$
|
46,654
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Mineral property, plant and equipment
expenditures
|
$
|
29,732
|
$
|
18,026
|
$
|
82,625
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$
|
71,272
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Cash and short-term investments
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$
|
153,047
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$
|
181,136
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$
|
153,047
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$
|
181,136
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Net working capital
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$
|
207,350
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$
|
196,006
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$
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207,350
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$
|
196,006
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|
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Consolidated Production
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|
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|
|
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|
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|
|
|
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|
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|
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Silver – ounces
|
|
4,453,729
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3,226,775
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12,017,564
|
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9,871,671
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Zinc – tonnes
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|
10,221
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9,922
|
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29,706
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30,115
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Lead – tonnes
|
|
4,159
|
|
4,060
|
|
11,909
|
|
11,927
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Copper – tonnes
|
|
1,544
|
|
1,126
|
|
4,127
|
|
3,333
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Gold – ounces
|
|
5,497
|
|
1,964
|
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15,756
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5,326
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|
|
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Consolidated Cost per
Ounce of Silver (net of by-product credits)
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|
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|
|
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Total cash cost per ounce (1)
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$
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3.32
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$
|
1.57
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$
|
2.95
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$
|
1.75
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Total production cost per ounce (1)
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$
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5.65
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$
|
3.28
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$
|
5.09
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$
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3.34
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|
|
|
|
|
|
|
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Payable ounces of
silver
|
4,136,221
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2,963,597
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11,122,324
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9,043,186
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|
|
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Average Metal Prices
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|
|
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Silver – London Fixing per ounce
|
$
|
12.70
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$
|
11.70
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$
|
13.11
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$
|
11.21
|
Zinc – LME Cash Settlement per tonne
|
$
|
3,238
|
$
|
3,363
|
$
|
3,452
|
$
|
2,966
|
Lead – LME Cash Settlement per tonne
|
$
|
3,141
|
$
|
1,189
|
$
|
2,373
|
$
|
1,176
|
Copper – LME Cash Settlement per
tonne
|
$
|
7,713
|
$
|
7,670
|
$
|
7,087
|
$
|
6,612
|
Gold – London Fixing per ounce
|
$
|
680
|
$
|
622
|
$
|
666
|
$
|
601
|
Mine Operations
Highlights
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|
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Three
months ended
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Nine months
ended
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September
30
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September
30
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|
|
2007
|
2006
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2007
|
2006
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|
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Huaron Mine
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|
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Tonnes milled
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|
192,571
|
|
185,290
|
|
558,932
|
|
513,235
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Average silver grade – grams per
tonne
|
|
192
|
|
193
|
|
195
|
|
203
|
Average zinc grade
|
|
2.37%
|
|
2.48%
|
|
2.62%
|
|
2.58%
|
Silver – ounces
|
|
950,797
|
|
941,569
|
|
2,827,367
|
|
2,773,593
|
Zinc – tonnes
|
|
2,837
|
|
3,095
|
|
9,279
|
|
8,818
|
Lead – tonnes
|
|
1,564
|
|
1,750
|
|
5,147
|
|
5,371
|
Copper – tonnes
|
|
512
|
|
426
|
|
1,179
|
|
1,272
|
Gold – ounces
|
|
798
|
|
480
|
|
2,677
|
|
1,137
|
|
|
|
|
|
|
|
|
|
Total cash cost per ounce (1)
|
$
|
2.93
|
$
|
2.32
|
$
|
2.28
|
$
|
2.53
|
Total production cost per ounce (1)
|
$
|
4.15
|
$
|
3.67
|
$
|
3.48
|
$
|
3.81
|
|
|
|
|
|
|
|
|
|
Payable ounces of silver
|
|
860,230
|
|
856,108
|
|
2,545,188
|
|
2,521,986
|
|
|
|
|
|
|
|
|
|
Quiruvilca Mine
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tonnes milled
|
|
91,834
|
|
92,468
|
|
269,078
|
|
282,100
|
Average silver grade – grams per
tonne
|
|
167
|
|
199
|
|
169
|
|
217
|
Average zinc grade
|
|
2.79%
|
|
2.70%
|
|
2.50%
|
|
2.86%
|
Silver – ounces
|
|
408,888
|
|
489,972
|
|
1,219,807
|
|
1,681,179
|
Zinc – tonnes
|
|
2,069
|
|
2,090
|
|
5,484
|
|
6,849
|
Lead – tonnes
|
|
728
|
|
650
|
|
1,920
|
|
1,968
|
Copper – tonnes
|
|
459
|
|
308
|
|
1,262
|
|
1,004
|
Gold – ounces
|
|
568
|
|
276
|
|
1,192
|
|
836
|
|
|
|
|
|
|
|
|
|
Total cash cost per ounce (1)
|
$
|
1.33
|
$
|
(0.39)
|
$
|
1.65
|
$
|
(0.15)
|
Total production cost per ounce (1)
|
$
|
2.83
|
$
|
0.99
|
$
|
3.13
|
$
|
1.07
|
|
|
|
|
|
|
|
|
|
Payable ounces of silver
|
|
374,214
|
|
454,284
|
|
1,124,488
|
|
1,561,459
|
|
|
|
|
|
|
|
|
|
Morococha Mine*
|
|
|
|
|
|
|
|
|
|
|
|
|
Tonnes milled
|
|
154,157
|
|
150,191
|
|
444,256
|
|
423,451
|
Average silver grade – grams per
tonne
|
|
175
|
|
176
|
|
170
|
|
191
|
Average zinc grade
|
|
3.44%
|
|
3.61%
|
|
3.49%
|
|
3.91%
|
Silver – ounces
|
|
750,603
|
|
694,984
|
|
2,063,886
|
|
2,202,128
|
Zinc – tonnes
|
|
4,472
|
|
4,567
|
|
12,991
|
|
13,994
|
Lead – tonnes
|
|
1,690
|
|
1,591
|
|
4,364
|
|
4,514
|
Copper – tonnes
|
|
533
|
|
381
|
|
1,588
|
|
1,031
|
Gold – ounces
|
|
451
|
|
231
|
|
656
|
|
737
|
|
|
|
|
|
|
|
|
|
Total cash cost per ounce (1)
|
$
|
(2.92)
|
$
|
(5.14)
|
$
|
(4.07)
|
$
|
(3.58)
|
Total production cost per ounce (1)
|
$
|
(1.27)
|
$
|
(3.23)
|
$
|
(2.33)
|
$
|
(1.87)
|
|
|
|
|
|
|
|
|
|
Payable ounces of silver
|
|
675,527
|
|
622,402
|
|
1,855,824
|
|
1,970,474
|
|
|
|
|
|
|
|
|
|
* Production and cost figures are for Pan
American’s share only. Pan American ownership was 88.5% during
the quarter.
|
|
|
|
|
|
|
|
|
|
|
|
|
Three
months ended
|
Nine months
ended
|
|
|
September
30
|
September
30
|
|
|
2007
|
2006
|
2007
|
2006
|
|
|
|
|
|
|
|
|
|
La Colorada Mine
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tonnes milled
|
|
87,563
|
|
60,463
|
|
235,289
|
|
174,257
|
Average silver grade – grams per
tonne
|
|
416
|
|
547
|
|
450
|
|
546
|
Silver – ounces
|
|
995,453
|
|
923,553
|
|
2,886,173
|
|
2,635,197
|
Zinc – tonnes
|
|
268
|
|
-
|
|
572
|
|
-
|
Lead – tonnes
|
|
177
|
|
68
|
|
477
|
|
74
|
Gold - ounces
|
|
978
|
|
|
|
2,927
|
|
|
|
|
|
|
|
|
|
|
|
Total cash cost per ounce (1)
|
$
|
6.73
|
$
|
5.92
|
$
|
6.85
|
$
|
5.83
|
Total production cost per ounce (1)
|
$
|
8.63
|
$
|
7.55
|
$
|
8.61
|
$
|
7.66
|
|
|
|
|
|
|
|
|
|
Payable ounces of silver
|
|
959,516
|
|
915,811
|
|
2,802,615
|
|
2,621,902
|
|
|
|
|
|
|
|
|
|
Alamo Dorado Mine*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tonnes milled
|
|
326,661
|
|
-
|
|
719,563
|
|
-
|
Average silver grade – grams per
tonne
|
|
132
|
|
-
|
|
129
|
|
-
|
Silver – ounces
|
|
994,325
|
|
-
|
|
2,119,355
|
|
-
|
Gold - ounces
|
|
2,702
|
|
-
|
|
8,303
|
|
-
|
|
|
|
|
|
|
|
|
|
Total cash cost per ounce (1)
|
|
5.02
|
|
-
|
|
5.14
|
|
-
|
Total production cost per ounce (1)
|
|
9.74
|
|
-
|
|
9.85
|
|
-
|
|
|
|
|
|
|
|
|
|
Payable ounces of silver
|
|
991,839
|
|
-
|
|
2,113,804
|
|
-
|
|
|
|
|
|
|
|
|
|
* Commercial
production commenced on April 1, 2007.
|
|
|
|
|
|
|
|
|
|
San Vicente Mine*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tonnes milled
|
|
30,610
|
|
6,725
|
|
70,057
|
|
15,712
|
Average silver grade – grams per
tonne
|
|
288
|
|
317
|
|
296
|
|
319
|
Average zinc grade
|
|
2.48%
|
|
3.32%
|
|
2.66%
|
|
3.70%
|
Silver – ounces
|
|
236,412
|
|
55,370
|
|
546,519
|
|
133,920
|
Zinc – tonnes
|
|
575
|
|
169
|
|
1,381
|
|
453
|
Copper – tonnes
|
|
41
|
|
11
|
|
98
|
|
26
|
|
|
|
|
|
|
|
|
|
Total cash cost per ounce (1)
|
$
|
5.21
|
$
|
8.09
|
$
|
4.23
|
$
|
5.48
|
Total production cost per ounce (1)
|
$
|
7.15
|
$
|
8.40
|
$
|
6.10
|
$
|
5.78
|
|
|
|
|
|
|
|
|
|
Payable ounces of silver
|
|
211,148
|
|
49,298
|
|
489,535
|
|
119,384
|
|
|
|
|
|
|
|
|
|
* The
production statistics represent Pan American’s interest in the
mine. Pan American’s ownership was approximately 55% through May
22, 2007 and increased to 95% subsequently.
|
|
|
|
|
|
|
|
|
|
Pyrite Stock Piles
|
|
|
|
|
|
|
|
|
|
|
|
|
Tonnes sold
|
|
12,787
|
|
13,506
|
|
40,541
|
|
42,763
|
Average silver grade – grams per
tonne
|
|
285
|
|
279
|
|
272
|
|
324
|
Silver – ounces
|
|
117,252
|
|
121,327
|
|
354,457
|
|
445,655
|
|
|
|
|
|
|
|
|
|
Total cash cost per ounce (1)
|
$
|
2.49
|
$
|
3.30
|
$
|
3.16
|
$
|
3.21
|
Total production cost per ounce (1)
|
$
|
2.49
|
$
|
3.30
|
$
|
3.16
|
$
|
3.21
|
|
|
|
|
|
|
|
|
|
Payable ounces of silver
|
|
63,746
|
|
65,694
|
|
190,870
|
|
247,982
|
|
|
|
|
|
|
|
|
|
(1) The Company reports the non-GAAP cash cost per ounce of
payable silver in order to manage and evaluate operating performance at each of
the Company’s mines. The measure is widely used in the silver
mining industry as a benchmark for performance, but does not have standardized
meaning. To facilitate a better understanding of this measure as
calculated by the Company, we have provided a detailed reconciliation of this
measure to our cost of sales, as shown in our unaudited Consolidated Statement
of Operations for the period, which can be found on page 6 of the MD&A.
|
Pan American Silver Corp.
|
|
PRODUCTEUR |
CODE : PAAS |
ISIN : CA6979001089 |
CUSIP : 697900108 |
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Pan American Silver est une société de production minière d'argent basée au Canada. Pan American Silver est productrice d'argent, de cuivre, d'or, de plomb et de zinc au Mexique, au Perou, en Argentine et en Bolivie, en développement de projets d'argent et d'or au Mexique, et détient divers projets d'exploration au Mexique et en Argentine. Ses principaux projets en production sont QUIRUVILCA MINE, HUARON et MOROCOCHA au Perou, LA COLORADA, ALAMO DORADO, LLUVIA DE ORO et DOLORES MINE au Mexique, SAN VICENTE en Bolivie et MANANTIAL ESPEJO en Argentine, son principal projet en développement est LA PRECIOSA au Mexique et ses principaux projets en exploration sont ORO BLANCO, EL DURAZNO, SAN ANTONIO ORO BLANCO, SANTA LUCIA, REAL VIEJO, PLANCHAS DE PLATA, LA DURA, LA RESERVA / EL CORREO, LA VIRGINIA GOLD/SILVER, LA CRUZ et LA BOLSA au Mexique, FLAMINGO, ESPEJO, REGALO, NAVIDAD, CALCATREAU, HOG HEAVEN, WATERLOO et LOMA DE LA PLATA (NAVIDAD) en Argentine, RIVER VALLEY PGM au Canada et PICO MACHAY au Perou. Pan American Silver est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,1 milliards US$ (2,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 07 novembre 2008 à 10,01 US$, et son plus haut niveau récent le 12 septembre 2024 à 20,51 US$. Pan American Silver possède 153 176 265 actions en circulation. |
Nominations de Pan American Silver Corp. |
Rapports Financiers de Pan American Silver Corp. |
|
Projets de Pan American Silver Corp. |
Communiqués de Presse de Pan American Silver Corp. |
Publication de commentaires terminée |
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|