VANCOUVER, May 9, 2017 /CNW/ – Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAAS) (“Pan American”, or the “Company”) today reported unaudited results for the first quarter ended March 31, 2017 (“Q1 2017”).
“Pan American continued to deliver strong results in the first quarter of 2017, with quarter-over-quarter growth in net earnings and cash costs down 23% to $6.18 per ounce,” said Michael Steinmann, President and Chief Executive Officer of the Company. “The expansion of our Dolores mine is tracking well with commissioning of the pulp agglomeration plant expected by mid-year. At our La Colorada mine, we are already realizing the benefit of higher throughput rates from the expansion, which is now substantially complete.”
Added Mr. Steinmann: “Supplementing the growth expected from our Mexican mine expansions, we have also completed the acquisition of the Joaquin project and announced an agreement to acquire the Cap-Oeste Sur Este project. These smaller, high-grade silver deposits are within trucking distance of our Manantial Espejo mine in Argentina, enabling us to benefit from invested capital at Manantial Espejo for potential future silver production.”