Pan American Silver Reveals Prelim 2022 Production Results

(Pan American, 17.Jan.2023) — Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) announced its preliminary production results for the fourth quarter (“Q4 2022“) and full year 2022 (“FY 2022“), with FY 2022 results in line with annual guidance.

  • Consolidated silver production in 2022 of 18.5 million ounces was within the revised guidance range of 18.0 to 18.5 million ounces provided on 9 November 2022, and only modestly below the original guidance of 19.0 to 20.5 million ounces provided on 23 February 2022.
  • Consolidated gold production in 2022 of 552.5 thousand ounces was within the original guidance range of 550.0 to 605.0 thousand ounces provided on 23 February 2022.
  • Consolidated zinc production in 2022 of approximately 38 thousand tonnes was within guidance of 35 – 40 thousand tonnes, lead production of approximately 18 thousand tonnes was above guidance of 15 – 17 thousand tonnes, and copper production of approximately 5 thousand tonnes was modestly below guidance of 5.5 – 6.5 thousand tonnes, based on the original guidance ranges provided on 23 February 2022.

“I am very pleased with our team’s efforts to deliver production results in line with our guidance for 2022. Q4 2022 results were led by strong production at Shahuindo and La Arena, as expected,” said Michael Steinmann, President and Chief Executive Officer.

Pan American plans to release operating costs with its audited results for Q4 2022 and FY 2022 on February 22, 2023, after market close. Pan American and Yamana Gold Inc. are working together on a smooth integration of the Latin American assets and operating teams regarding the Arrangement (as defined herein) among Pan American, Agnico Eagle Mines Limited and Yamana. Pan American expects to provide annual production and cost guidance for 2023 for the combined entity shortly after completion of the Arrangement.

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