Edison Investment Research - Pan American Silver Corp. (PAAS) Pan American Silver - Strong reserves replacement rates for key assets

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Edison Investment Research

Alison Turner

Pan American Silver - Strong reserves replacement rates for key assets

Pan American Silver (PAAS) has released its annual mineral reserves and resources statement. While the overall reserves and resources have fallen compared to 2023 due to the asset divestments, on an adjusted basis the company has fully replaced its proven and probable (P&P) reserves and reported a significant increase in measured and indicated (M&I) resources in the silver segment. The gold segment has seen a visible boost to its inferred resource due to exploration work at Jacobina, which has also seen a healthy increase in its P&P reserves despite maintaining flat M&I resources over the year. Overall, six out of 11 producing operations, including flagship Jacobina and La Colorada, have seen their mineral reserves either fully or almost fully replaced in tonnage terms during the year to June 2024.

18/09/2024 1 EN

Underlying

Pan American Silver Corp.

Pan American Silver is engaged in the production and sale of silver, gold and other base metals including copper, lead and zinc as well as other related activities, including exploration, extraction, processing, refining and reclamation. Co.'s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia. Additionally, Co. has project development activities in Peru, Mexico and Argentina, and exploration activities throughout South America and Mexico.

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CA6979001089 Toronto Stock Exchange Canada

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Alison Turner

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Pan American Silver - Strong reserves replacement rates for key assets

Vermilion Compass: Weekly Equity Strategy

First Majestic Silver Corp. - Mergers & Acquisitions (M&A), Partnerships & Alliances

Games Workshop Group - A notable acceleration in Q225

Altron - Further margin expansion in H125

Sayona Mining - Catching up with majors

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