Record-Breaking Revenue and Earnings
Pan American Silver reported record top line revenue of $811.9 million and net earnings of $189.6 million or $0.52 per share for Q2 2025.
Strong Cash Flow and Financial Position
Cash flow from operations before noncash working capital changes was a record $287.9 million, with free cash flow reaching $233 million and a cash balance of $1.1 billion.
Acquisition of MAG Silver
The proposed acquisition of MAG Silver, expected to close in the second half of 2025, aims to enhance silver production and reduce costs. MAG shareholders have already approved the transaction.
Increased Dividend
Pan American Silver announced a 20% increase in its dividend from $0.10 to $0.12 per common share.
Silver Production and Costs
Silver production in Q2 was 5.1 million ounces with all-in sustaining costs at $19.69 per ounce, at the low end of guidance.
Project Capital Investments
Investments of $73.7 million were made in sustaining and project capital, focusing on La Colorada, Skarn, Huaron, Timmins, and Jacobina mines.