Pan American Silver Up 2.1% in U.S. Pre-Market After Hitting 2024 Production Guidance

MT Newswires

01-16

Pan American Silver (PAAS.TO, PAAS) late on Wednesday said it achieved its 2024 production guidance with 21.1 million ounces of silver and 892,000 ounces of gold produced.

The company also achieved guidance for annual production of zinc, lead and copper.

The results were driven by strong performance in the fourth quarter of 2024, with silver production of 6 million ounces and gold production of 224,000 ounces.

The La Colorado mine in Mexico made a significant contribution, producing 1.6 million ounces of silver in the fourth quarter of 2024.

Fourth-quarter 2024 gold production excludes December production from the La Arena mine in Peru after the completion of its sale on Dec. 2, 2024. The Jacobina mine produced 197,000 ounces of gold in 2024, the highest recorded production in the mine's history.

"We entered 2025 with cash and short-term investments totaling $887.3 million, positioning the company well to execute on its strategic priorities," said Michael Steinmann, president and CEO of Pan American.

The company's share price at last look rose 2.1% to US$21.65 in U.S. pre-market trading on Thursday.

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