Pan American Silver reports Q4 adjusted EPS (4c), consensus 10c

Reports Q4 revenue $669.6M, consensus $665.54M. Silver production was 4.8M ounces in Q4 2023 and 20.4M ounces in FY 2023. Gold production achieved record levels of 267.8 thousand ounces in Q4 2023 and 882.9 thousand ounces in FY 2023. Silver production was slightly below the guidance range provided in Pan American’s news release dated April 27, 2023 and gold production was within the 2023 Guidance range. “Pan American enters 2024 in a solid financial position with cash and short-term investments totaling $440.9 million and the full $750.0 million available under our undrawn credit facility,” said Michael Steinmann, President and Chief Executive Officer. “We expect cash flow generation in 2024 to benefit from a full year contribution of the assets we acquired through the Yamana Gold transaction, improved operations at La Colorada with higher throughput and lower costs in the second half of the year following completion of the new ventilation system, and reduced care and maintenance costs. Strategic initiatives in 2024 include advancing our La Colorada Skarn project, with engagement on long-term development partnerships currently underway, completing a study to optimize the Jacobina operations, and further portfolio rationalization.”