- Andean Precious Metals (APM) is issuing its 2021 guidance following strong growth in revenue and profitability in 2020
- The company also reported its operational and financial results for the fourth quarter and year ended December 31, 2020
- The company’s 2021 guidance calls for production of 5.8 to 6.1 million silver equivalent ounces
- Andean Precious Metals is up 9.32 per cent on the day, with shares of the company trading for $1.29 at 1:27 pm ET
Andean Precious Metals (APM) is issuing its 2021 guidance following strong growth in revenue and profitability in 2020.
The company also reported its operational and financial results for the fourth quarter and year ended December 31, 2020.
The company’s 2020 highlights included the production of 5.9 million silver equivalent ounces at an all-in sustaining cost of $14.75 per ounce from the wholly-owned 1.65 Mtpa San Bartolomé processing plant.
Andean also saw sales of 6.0 million silver equivalent ounces, revenues of $130.7 million, and free cash flow of $35.5 million.
The company’s 2021 guidance calls for production of 5.8 to 6.1 million silver equivalent ounces.
“Fiscal 2020 year was an impressive year for Andean Precious Metals. Our strong cash generation demonstrates the importance of our flagship San Bartolomé operation as a significant primary silver producer even in a volatile price environment and despite the impact of COVID-19 on the operations. We look forward to building on the success of the team during 2021 and beyond, now as a publicly-traded company,” said Andean Precious Metals President and CEO Luis da Silva.
The company’s objectives in fiscal 2021 are to continue to process its surface deposits at the San Bartolomé and Cachi Laguna areas, as well as reclaiming silver bearing mine waste stockpiles under contract with COMIBOL at El Asiento and Tatasi-Portugalete. The company will also continue to purchase ore from its community mining partners.
The company seeks to expand its mine life by completing a technical study on the economic viability of reprocessing approximately 10 million tonnes contained in its tailings facilities, estimated from Manquiri’s production records to contain silver and tin grades of approximately 40 grams per tonne silver and 0.25 per cent tin, respectively.
Andean Precious Metals is up 9.32 per cent on the day, with shares of the company trading for $1.29 at 1:27 pm ET.
