Pan American Silver Corp Q1 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Trevor Turnbull - Scotiabank Global Banking and Markets, Research Division - Analyst : Michael, I just checked the website for the Escobal consultation process, and it looked like the last update was back in February. So I appreciate the additional information you just gave about the meeting in May, and I think you said the next one, either June or July. On the website, it did sound like there was about 12 meetings that needed to take place. And so if we count the ones in May and in the summer, it seems like that would take us to 7. Is that the right way to think about kind of the length of the process that there's going to be roughly 12 meetings?

Question: Trevor Turnbull - Scotiabank Global Banking and Markets, Research Division - Analyst : Yes. No, I'm glad to hear that it does obviously seem to be moving and maybe picking up pace a bit. And without asking for speculation on timing or outcomes. I do wonder, though, could you provide any sort of sense of how long -- provided you're allowed to recommence operations, what kind of lead time you would need to get recommissioned?

Question: Trevor Turnbull - Scotiabank Global Banking and Markets, Research Division - Analyst : Yes. And then just my last question is about La Colorada Skarn. You've been drilling and the pending resources coming up later this year. It appears you've done a huge amount of drilling since the previous estimate. It looks like almost 50% more potentially by the time you provide the update. I know some of the work was focused on infill drilling, some of it was step-out into the new areas. And I just wondered how we should expect the resource update to be focused? Is this going to be more about upgrading inferred resources? Or is this going to be more about just adding to the inferred with the step-out holes?

Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst : Just maybe, Michael, continuing with some questions on the Skarn. So yes, we certainly look forward to that resource update in Q3. And -- but what would be the next steps beyond that resource update? Of course, there was a PEA that, at one point, been scheduled, maybe for some point last year that was deferred. What do you need to know at this point in order to put that back into the calendar, to put a technical report back in the calendar? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 12, 2022 / 3:00PM, PAAS.TO - Q1 2022 Pan American Silver Corp Earnings Call

Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst : Okay. Yes, as are we. So -- okay, as a second question, if I may, shifting to Dolores. So Dolores cost well above guidance, and you had some discussion on the call about Dolores. Could you here just reiterate the factors that contributed to the cost at Dolores and comment on whether or not they're transient and whether you expect the cost to rebound over the rest of the year?

Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst : Okay. Okay. And as a third question, just shifting to an asset of yours that doesn't get a lot of airtime, La Arena II. Could you just give me what your strategic intention is for this asset? Is it a divestment candidate? Are you planning to drill, expand it potentially or issue an updated technical report, maybe even develop at some point?

Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst : Okay. And we'll keep an eye out for the resource update in Q3 and good luck in the coming quarters.