Record-Breaking Revenue and Production
Pan American Silver Corp. reported record revenue of $815.1 million in Q4 and $2.8 billion for the full year 2024. Silver production totaled 21.1 million ounces, and gold production reached a company record of 892,000 ounces.
Strong Cash Flow and Financial Position
The company generated record cash flow from operations of $274.1 million in Q4 and $724.1 million for the full year. Pan American Silver Corp. is in a net cash position with $887 million in cash and short-term investments, against roughly $800 million of debt, with a total liquidity of $1.6 billion.
Successful Integration of Yamana Mines
The mines acquired through the Yamana transaction have been well integrated, contributing significantly to the company's performance. The organization achieved its production guidance for 2024.
Progress in Major Projects
Completion of several major projects, including new ventilation infrastructure at La Colorada and a filtration plant at Huaron, are expected to contribute to lower operating costs and improved throughput.