Fact Sheet
Corporate Profile
Pan American Silver Corp. was founded in 1994 with the single mission to be the world’s largest and lowest cost primary silver mining company and to achieve this by increasing low-cost silver production and silver reserves. As an equity investment vehicle, Pan American offers investors continuously strong trading liquidity. Pan American stock trades an average of 320,000 common shares daily on the Toronto Stock Exchange (TSX:PAA) and 1.4 million common shares daily on the Nasdaq Stock Market (NASDAQ:PAAS).
Pan American shares form part of the S&P/TSX Composite Index, S&P/TSX Small Cap Index, and S&P/TSX Capped Materials Index. Pan American is also the only silver mining company to trade on the prestigious Philadelphia Gold and Silver Index, known as the XAU.
Investment Highlighs
- Quality Assets – Diversification of Political & Operational Risk
- 14 Consecutive Years of Production Growth
- Long Life & Growing Silver Reserves & Resources
- Superior Financial Performance
- Industry Leading Management Expertise
Operations
| P&P Reserve Growth in 2009 | Reserves* 31/12/09 |
Reserves* 31/12/08 |
|
| Morococha mine (92.2%) (Peru) | 37.97 |
35.23 |
|
| Huaron mine (Peru) | 64.23 |
62.00 |
|
| Quiruvilca mine (Peru) | 3.92 |
3.36 |
|
| La Colorada mine (Mexico) | 30.43 |
18.19 |
|
| Alamo Dorado mine (Mexico) | 30.89 |
34.34 |
|
| Silver Stockpiles (Peru) | 1.93 |
2.03 |
|
| San Vicente mine (95%) (Bolivia) | 28.39 |
30.65 |
|
| Manantial Espejo mine (Argentina) | 36.13 |
37.95 |
|
| Total | 233.92 |
223.75 |
*Million oz. contained silver
Price Assumption: Ag – US$13.00/oz, Au $875/oz, Pb $1,600/tonne, Zn $1,600/tonne, Cu $5000/tonne
Mineral Reserves are prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI-43-101") and Canadian Institute of Mining Guidelines. This table illustrates Pan American Silver's share of mineral reserves. Properties in which Pan American has less than 100% interest are noted next to the property name.
First Quarter 2010 Financial Highlights
2010 |
2009 |
|
Q1 Silver Production |
5.5 million oz |
4.9 million oz |
Q1 Net Income |
$19.1 million
|
$ 6.6 million
|
Q1 Basic EPS |
$0.18/share
|
$0.08/share
|
Q1 Cash Generated by Operations* Annual Cash Flow From Operations* |
$42.1 million
|
$19.0 million
|
* Excluding changes in non-cash operating capital
2010 Production Forecast
| Silver Production (Millions of Ounces) |
Cash Costs Per Ounce* |
||
| Huaron | 3.7 | $8.72 | |
| Morococha | 2.7 | $4.13 | |
| Quiruvilca | 1.4 | $6.95 | |
| Silver Stockpiles | 0.2 | $4.05 | |
| San Vicente | 3.0 | $7.01 | |
| La Colorada | 3.6 | $8.73 | |
| Alamo Dorado | 4.2 | $6.87 | |
| Manantial Espejo | 4.6 | $3.26 | |
| Total | 23.4 | $6.40 |
*Price assumptions: Silver - Zinc $1,875/tonne; Lead $1,875/tonne; Copper $5,600/tonne; Gold $975/oz
On May 10, 2010 Pan American updated its consolidated cash costs projection for 2010 from $6.40 per ounce of silver to $5.90 per ounce of silver, net of by-product credits. The Company also reiterated its annual silver production forecast of 23.4 million ounces.
Silver Production Growth
Executive Management & Board of Directors
| Management | Board of Directors | |
| Geoff Burns, President & CEO | Ross J. Beaty (Chairman) | |
| Rob Doyle, CFO | Geoff Burns | |
| Steven Busby, COO | William A. Fleckenstein | |
| Michael Steinmann, P.Geo, Exec. VP Geology & Exploration | Michael Larson | |
| Andres Dasso, Sr. VP Operations | Michael J.J. Maloney | |
| Joe Phillips, Sr. VP Project Development | Robert Pirooz | |
| Sean Mcaleer, VP HR & Security | David Press | |
| Paul B. Sweeney | ||
| Walter Segsworth |
Market Facts*
| Authorized Share Capital | 200.0 million common shares without par value | |
| Shares Outstanding |
106.9 million | |
| Share Ownership | Institutional: 55% Retail: 45% |
|
| 52 Week High/Low* | TSX: $28.97/$19.45 NASDAQ $28.41/$16.64 |
*At June 23, 2010
Contacts
| Investor Relations | Transfer Agent & Registrar | |
| 1500-625 Howe Street Vancouver, British Columbia V6C 2T6 Tel: (604) 684-1175 / Fax: (604) 684-0147 E-mail: info@panamericansilver.com |
Computershare Trust Company of Canada 400-510 Burrard Street, Vancouver, British Columbia V6C 3B9 Toll Free: 1-800-564-6253 |
THIS FACT SHEET CONTAINS "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF THE UNITED STATES "PRIVATE SECURITIES LITIGATION REFORM ACT" OF 1995 AND APPLICABLE CANADIAN SECURITIES LEGISLATION. STATEMENTS CONTAINING FORWARD-LOOKING INFORMATION EXPRESS, AS AT THE DATE OF THIS FACT SHEET, THE COMPANY'S PLANS, ESTIMATES, FORECASTS, PROJECTIONS, EXPECTATIONS, OR BELIEFS AS TO FUTURE EVENTS OR RESULTS AND THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION TO, UPDATE SUCH STATEMENTS CONTAINING THE FORWARD-LOOKING INFORMATION. STATEMENTS CONTAINING FORWARD-LOOKING INFORMATION INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE THE ACTUAL RESULTS, LEVEL OF ACTIVITY, PERFORMANCE OR ACHIEVEMENS OF PAN AMERICAN SILVER AND ITS OPERATIONS TO BE MATERIALLY DIFFERENT FROM THOSE EXPRESSED OR IMPLIED BY SUCH STATEMENTS. PLEASE REFER TO THOSE FACTORS DESCRIBED IN THE SECTION "RISKS RELATED TO PAN AMERICAN'S BUSINESS" CONTAINED IN THE COMPANY'S MOST RECENT FORM 40F/ANNUAL INFORMATION FORM FILED WITH THE SECA ND CANADIAN PROVINCIAL SECURITIES AUTHORITIES. ALTHOUGH THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED, DESCRIBED, ESTIMATED, ADDRESSED OR INTENDED.
MICHAEL STEINMANN, P.GEO. EXEC. VP GEOLOGY AND EXPLORATION AND MARTIN WAFFORN, P.ENG. VP TECHNICAL SERVICES ARE THE COMPANY'S QUALIFIED PERSONS RESPONSIBLE FOR THE PREPARATION OF THE SCIENTIFIC AND TECHNICAL INFORMATION RELATED TO THE COMPANY'S OPERATIONS THAT IS INCLUDED IN THIS FACT SHEET.