Pan American Silver Corp (PAAS) reported unaudited results for the quarter ended March 31, 2023 (Q1 2023).
“Pan American reported solid results for the first quarter of 2023,” said Michael Steinmann, President and Chief Executive Officer. “Going forward, Pan American will be a significantly larger, more diversified company following our acquisition of Yamana. Our guidance for 2023 demonstrates the positive impact of the four new mines on production and costs, and we are excited by the growth opportunities the combined portfolio presents.”
On March 31, 2023, Pan American completed its previously announced acquisition of all of the issued and outstanding common shares of Yamana Gold Inc, following the sale by Yamana of its Canadian assets to Agnico Eagle Mines Limited, by way of a plan of arrangement under the Canada Business Corporations Act.
Consolidated Q1 2023 result say, the Silver production of 3.9 million ounces and gold production of 122.7 thousand ounces. As previously disclosed, Manantial Espejo has been placed on care and maintenance following the completion of mining at the end of 2022; some residual production was recorded for Q1 2023.
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