VANCOUVER, Jan. 15, 2020 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American") today announced preliminary production results for the fourth quarter ("Q4 2019") and full year 2019 ("FY 2019"). Pan American today also provided its guidance for production, costs and expenditures in 2020.
"2019 was a transformative year for Pan American and one of the most important in our 25-year history. We completed the Tahoe transaction and successfully integrated the new assets into our portfolio, capturing $25 to $30 million in annual G&A synergies. Pan American is now a much larger, stronger and more profitable company," said Michael Steinmann, President and Chief Executive Officer of Pan American. "Robust cash flow generation allowed us to repay a further $40 million to our line of credit in Q4 2019, continuing the rapid deleveraging of our balance sheet post closing of the Tahoe transaction. In addition, we advanced our skarn discovery at La Colorada and published an initial resource estimate of 72.5 million tonnes of polymetallic mineralization. In 2020, Pan American is well positioned for strong, low cost production. Combined with current metal prices, that should result in a rewarding year for our shareholders."
Silver production of 25.9 million ounces was in line with the revised guidance(1) range of 25.3 million to 26.3 million ounces provided on August 7, 2019. Gold production of 559.2 thousand ounces was in line with the revised guidance(1) range of 550 thousand to 600 thousand ounces provided on August 7, 2019. Zinc, lead and copper production was 67.6, 27.3 and 8.7 thousand tonnes, respectively, compared with original guidance provided on January 21, 2019, of 65.0 - 67.0, 24.0 - 25.0 and 9.8 - 10.3 thousand tonnes, respectively. The La Colorada mine achieved an average mining and processing rate of over 2,100 tonnes per day, exceeding the targeted rate of 2,000 tonnes per day for 2019 and resulting in record annual silver, zinc and lead production. Pan American continues to achieve greater than expected efficiencies from the mine expansion completed in 2017, which had a design throughput rate of 1,800 tonnes per day. Pan American achieved several records in operating performance: annual open pit mining rates at Dolores; annual mining and processing rates at La Colorada, Huaron, and Morococha; annual zinc and lead plant recovery rates at Morococha, driving record annual zinc production at that mine; and, annual mining and processing rates at San Vicente, which largely offset an increase in operating costs per tonne due to the mining of narrower ore bodies than in previous years. Pan American released an initial inferred mineral resource estimate for the La Colorada skarn deposit of 72.5 million tonnes, averaging 44 grams per tonne silver, 0.17% copper, 2.02% lead and 4.40% zinc, assuming a cut-off value of $60 per tonne after accounting for transportation, smelting and refining costs. Please refer to Pan American's news release dated December 11, 2019, for further details. Pan American repaid $60 million of debt during 2019, including $40 million repaid in Q4 2019. As at December 31, 2019, Pan American had $275 million drawn under its revolving credit facility and $238.3 million in cash and short-term investments.
Nachdem Pan American (ehem.Tahoe Aktien) mit einem fetten Minus als Leiche in meinem Depot liegt,wollte ich nun die CVR Aktien verkaufen. Dies kann ich aber nicht bei meiner Depotbank. Hat jemand eine Ahnung wie das funktioniert mit diesen Scheinen? Werden die automatisch mitverkauft, sobald man sich von den eigentlichen Aktien trennt?
sind die noch gar nicht eingebucht sondern lediglich vorgemerkt für den Fall dass Escobal wieder öffnet. Und dann ist klar definiert mit welchem Faktor der Pan Am - Kurs dann multipliziert wird um den Kurs für die CVR zu ermitteln.
In addition, Tahoe shareholders received contingent consideration in the form of one contingent value right ("CVR") for each Tahoe share. Each CVR will be exchanged for 0.0497 of a Pan American share upon first commercial shipment of concentrate following restart of operations at the Escobal mine. The CVRs are transferable and have a term of 10 years.
Pan American Silver Reports Record Quarterly Cash Flow from Operations of $129.5 Million in Q4 2019 Quarterly Dividend Increased by 43% .VANCOUVER, Feb. 19, 2020 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) today reported unaudited financial results for the year-ended December 31, 2019 ("FY 2019") and the fourth quarter ("Q4 2019"). These results are preliminary and could change based on final audited results. Preliminary production results were previously reported on January 15, 2020.
"Strong, low cost production generated operational cash flow of $282 million in 2019, which allowed Pan American to retire $60 million of debt, dividend approximately $29 million to shareholders, invest in new projects such as our La Colorada skarn discovery, and increase our cash position," said Michael Steinmann, President and Chief Executive Officer of the Company. "In 2020, we are expecting silver and gold production growth of approximately 7% and 16%, respectively. Given our business outlook and strong financial position, Pan American's Board of Directors has increased the quarterly dividend by 43% to $0.05 per common share."
Q4 2019 and FY 2019 Highlights:
Revenue in Q4 2019 and FY 2019 totaled $404.4 million and $1,350.8 million, respectively. Net cash generated from operating activities in Q4 2019 of $129.5 million was the highest in the Company's history. Net cash generated from operating activities in FY 2019 was $282.0 million. Net earnings in Q4 2019 and FY 2019 were $51.7 million ($0.25 basic earnings per share) and $111.2 million ($0.55 basic earnings per share), respectively. Net earnings in Q4 2019 included a $40.1 million impairment charge related to the Manantial Espejo mine in Argentina due to the increase in export taxes and the challenging business environment in Argentina; partially offset by $33.7 million in investment income, largely related to our approximately 17% equity interest in New Pacific Metals Corp. Adjusted earnings in Q4 2019 and FY 2019 were $68.9 million ($0.33 basic adjusted earnings per share) and $158.0 million ($0.78 basic adjusted earnings per share), respectively. Consolidated annual silver and gold production was 25.9 million ounces and 559.2 thousand ounces, respectively, as previously disclosed on January 15, 2020. Silver Segment Cash Costs and All-in Sustaining Costs ("AISC") in FY 2019 were $6.39 and $10.46 per silver ounce sold, respectively, both of which were within the Company's 2019 annual guidance. Gold Segment Cash Costs and AISC in FY 2019 were $712 and $948 per gold ounce sold, respectively, both of which were below the Company's annual guidance for 2019. Consolidated Silver Basis AISC in FY 2019 was $4.44 per silver ounce sold, which was well below the Company's 2019 annual guidance range of $6.00 to $7.50 per ounce. At December 31, 2019, the Company had a cash and short-term investment balance of $238.3 million and $275.0 million of bank debt. Working capital was $517.2 million. In 2019, Pan American paid $29.3 million in dividends ($0.14 per share). The Board of Directors has approved an increase in the cash dividend from $0.035 to $0.05 per common share, for approximately $10.5 million in aggregate cash dividends, payable on or about March 12, 2020, to holders of record of Pan American's common shares as of the close on March 2, 2020. Pan American's dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada). As is standard practice, the amounts and specific distribution dates of any future dividends will be evaluated and determined by the Board of Directors on an ongoing basis.
Hat schon jemand die Dividendenzahlung vom 28.02.2020 auf seinem Konto gutgeschrieben bekommen? Bei der Deutschen Bank passiert da überhaupt nichts. Ich trau' dem Laden überhaupt nicht mehr... bzw. trau ich denen mittlerweile alles zu.
Für mich bleibt die Spekulation auf steigende Silberpreise eine Riesenchance! Daher kaufe ich bei Pan A.Silver (und auch bei First Majestic) weiter zu. Das Gold- Silber Ratio ist einfach zu hoch, in der Vergangenheit gab es dann bei beiden Metallen stets eine Hausse... Bitte aber noch Gedult haben - die Corona Krise dauert noch länger !
Ratio ist so schlecht für Silber wie noch nie, und selbst für Gold geht die Bank of America von 3000$ pro Unze bis Ende 2021 aus. Eine unvorteilhafte Ratio für Silber ist übrigens normal für den Beginn einer Edelmetall Hausse.
Und darauf kommt hier noch die Perspektive Escobal. Ich gucke hier schon gar nicht mehr so genau hin, ist mir schlicht egal, ob das gerade mal 25% rauf oder runter geht...????..
wie sich die Aktie entwickelt hat ? ich würde auch schon gerne einen Teil der Gewinne mitnehmen, aber mit Escobal und einem möglichen Ausbruch von Silber sehe ich nach wie vor noch viel Potential! Das Tahoe-Desaster ist in der Zwischenzeit schon mehr als aufgeholt bei mir.