Pan American Silver Reports Preliminary 2020 Production Results - Quick Facts

(RTTNews) - Pan American Silver Corp. (PAAS, PAAS.TO) reported fiscal 2020 consolidated silver production of 17.3 million ounces compared with the guidance range of 18.0 million to 19.0 million ounces. Consolidated gold production was 522.4 thousand ounces compared with the guidance range of 525.0 thousand to 575.0 thousand ounces. Consolidated zinc, lead and copper production was 40.2, 15.7 and 5.2 thousand tonnes, respectively, compared with guidance of 40.0 - 43.0, 17.0 - 18.0 and 4.3 - 4.9 thousand tonnes, respectively.

"We are expecting a 35% increase in silver production relative to 2020 and record gold production in 2021, despite our assumption that COVID-19 will continue to have an impact on operations," said Michael Steinmann, President and CEO.

As at December 31, 2020, the company had no bank debt. Cash and short-term investment balances increased to approximately $279.1 million.

Pan American plans to release its audited fourth quarter results on February 17, 2021, after market close.