Pan American Silver: A Shining Year and Record Cash Balance in 2025

Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) has successfully achieved its 2024 production guidance, delivering strong results that have positioned the company well for the future. The company's President and Chief Executive Officer, Michael Steinmann, expressed his satisfaction with the performance, highlighting the notable contributions from the La Colorada and Jacobina operations. The La Colorada mine produced 1.6 million ounces of silver in Q4 2024, demonstrating the benefits of the new ventilation infrastructure, while the Jacobina mine produced 197 thousand ounces of gold in 2024, setting a new record for the mine.

The company's cash balance has significantly increased, thanks to the strong production results and the proceeds from the sale of the La Arena mine. As of December 31, 2024, Pan American's cash and cash equivalents totaled $862.8 million, and short-term investments totaled $24.5 million, representing an increase of $417.4 million from September 30, 2024. The cash balance included $306.6 million in cash proceeds from the divestment of Pan American's 100% interest in La Arena S.A.

Pan American's total available liquidity at December 31, 2024, was $1,637.3 million, which includes the cash and short-term investments and the undrawn revolving credit facility. This significant cash balance will enable the company to execute on its strategic priorities, as mentioned by Steinmann.

The company's preliminary 2024 production results show a strong performance across various segments. In the silver segment, the La Colorada mine in Mexico made a significant contribution, producing 1.6 million ounces of silver in Q4 2024. The Cerro Moro mine in Argentina also performed well, producing 829 thousand ounces of silver in Q4 2024. In the gold segment, the Jacobina mine in Brazil produced 197 thousand ounces of gold in 2024, the highest recorded production in the mine's history.

Pan American plans to release its financial results for Q4 2024 and audited financial results for FY 2024 on February 19, 2025, after market close. The results will include the final production figures, cash and short-term investments figures, cash costs and all-in sustaining costs for Q4 2024 and FY 2024, as well as 2025 production and cost guidance.

In conclusion, Pan American Silver's strong Q4 2024 performance, driven by notable contributions from the La Colorada and Jacobina operations, has significantly increased the company's cash balances. The company's record cash balance of $887.3 million, combined with its strategic priorities, positions it well for future growth and success in the mining industry.