Toronto, Ontario--(Newsfile Corp. - April 15, 2025) - Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF) ("Andean" or the "Company") is pleased to report its first quarter operational results for the quarter ended March 31, 2025. The Company is also providing notice that it will release its first quarter 2025 financial results after market close on Tuesday, May 6, 2025. The Company will host its first quarter 2025 earnings conference call and webcast on Wednesday, May 7, 2025, at 9:00 am Eastern Time.
Alberto Morales, Executive Chairman and CEO, stated: "Our first quarter production of 21,361 gold equivalent ounces was in line with expectations and reflects the seasonality we typically see across our operations, with Q1 historically being our lowest quarter. We anticipate higher production in Q2 and continued momentum in the second half of the year, positioning us to meet our full-year guidance. While San Bartolome is especially impacted by seasonal factors in Q1, our overall results were consistent with expectations. Our production profile is weighted toward the second half of the year, with approximately 40% forecast in the first half and 60% in the second. This production profile applies to both gold output at Golden Queen and silver output at San Bartolome. We expect both operations to contribute equally to our total gold equivalent ounce production, with steady performance anticipated through the remainder of the year. Andean remains well-positioned to deliver on our 2025 guidance."
OPERATIONAL RESULTS
Q1 2025
Q1 2024
Consolidated
Gold ounces produced (Au, oz)
11,078
10,433
Silver ounces produced (Ag, k-oz)
925
917
Gold equivalent ounces produced (Au, oz) 1
21,361
21,031
Gold ounces sold (Au, oz)
10,824
11,291
Silver ounces sold (Ag, k-oz)
1,029
919
Gold equivalent ounces sold (Au, oz) 1
22,251
20,868
Golden Queen
Gold ounces produced (Au, oz)
10,309
10,259
Silver ounces produced (Ag, k-oz)
79
105
Gold equivalent ounces produced (Au, oz) 1
11,189
11,490
Gold ounces sold (Au, oz)
10,029
11,121
Silver ounces sold (Ag, k-oz)
77
108
Gold equivalent ounces sold (Au, oz) 1
10,881
11,343
San Bartolome
Gold ounces produced (Au, oz)
769
174
Silver ounces produced (Ag, k-oz)
846
812
Gold equivalent ounces produced (Au, oz) 1
10,172
9,541
Gold ounces sold (Au, oz)
795
170
Silver ounces sold (Ag, k-oz)
952
811
Gold equivalent ounces sold (Au, oz) 1
11,370
9,525
(1) Beginning in 2025, gold equivalent ounces of silver produced or sold in a quarter are computed using a consistent ratio of silver price to the gold price and multiplying this ratio by silver ounces produced or sold during that quarter. The Company is using a conversion factor of 90 using a price assumption of $2,500 per ounce of gold and $27.78 per ounce of silver.
Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean's leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals producer.
Certain statements and information in this release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.
Forward-looking statements in this release include, but are not limited to, statements and information regarding the Company's production, expectations for 2025 and the Company's release of its first quarter 2025 financial results. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: the Company's ability to carry on exploration and development activities; the Company's ability to secure and to meet obligations under property and option agreements and other material agreements; the timely receipt of required approvals and permits; that there is no material adverse change affecting the Company or its properties; that contracted parties provide goods or services in a timely manner; that no unusual geological or technical problems occur; that plant and equipment function as anticipated and that there is no material adverse change in the price of silver, price of gold, costs associated with production or recovery. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and you are cautioned not to place undue reliance on forward-looking statements contained herein.
Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks relating to possible variations in reserves, resources, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or local community approvals or in the completion of development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment; and other factors contained in the section entitled "Risk Factors" in the Company's MD&A for the three and twelve months ended December 31, 2024.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in this release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
