|Pan American Silver Corp. - PAAS.t is the second largest primary silver mining company in the world, with eight operating silver mines in Peru, Mexico, Argentina and Bolivia.|
The Company produced 26.1 million ounces of silver and 161,500 ounces of gold in 2015 at AISC of $14.92 Oz Ag.
"Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAAS) today reported unaudited net earnings of $36.0 million ($0.23 basic earnings per share) for the second quarter ended June 30, 2017 ("Q2 2017") compared with $34.2 million ($0.22 basic earnings per share) in the second quarter of 2016 ("Q2 2016").
Adjusted earnings were $22.3 million ($0.15 basic adjusted earnings per share) compared with $18.0 million ($0.12 basic adjusted earnings per share) in Q2 2016.
"Pan American operations generated strong earnings in the quarter on revenues that topped $200 million. Silver production is on pace to achieve our annual targeted range, while costs are tracking well below. We have now reduced our estimate for cash costs and AISCSOS in 2017 by 14% and 10%, respectively, from the mid-point of our original guidance," said Michael Steinmann, President and Chief Executive Officer of the Company.