Pan American Silver Corp Q3 2024 Earnings Call Transcript

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

Question: Ovais Habib - Scotiabank Global Banking and Markets - Analyst : Thanks, operator. Good morning, Michael and Pan American team. Really congrats on a good quarter, and congrats on getting La Arena sale deal approved. A couple of questions from me. My first question, staying with La Arena, Michael, with the introduction of the offtake agreement, could we expect any sort of implications on the cash or contingent element of the consideration of the NSR royalty that's already been agreed upon? Any additional color you can provide on this offtake agreement?

Question: Ovais Habib - Scotiabank Global Banking and Markets - Analyst : Thanks, Michael, for clarifying that. And just moving on to 2024 guidance. Again, great to see that you have (inaudible) gold guidance, again, with silver production on the lower end of guidance. Michael, on our numbers, it would seem like consolidated gold production is kind of shaping up to also be at the low end of guidance. Again, we might be a little bit conservative on our assumptions for Q4. But is that the right way to be thinking about this? Or maybe what assets could you expect to drive stronger Q4 finish? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 06, 2024 / 4:00PM, PAAS.TO - Q3 2024 Pan American Silver Corp Earnings Call

Question: Ovais Habib - Scotiabank Global Banking and Markets - Analyst : Sounds good. Okay. Thanks for that as well. And just helping on silver grades did decrease going into Q3, there appear to be about a 12% decline in gold grades. Can you just comment on how should we be thinking about the gold and for grades in this asset going into Q4?

Question: Ovais Habib - Scotiabank Global Banking and Markets - Analyst : Okay. Thanks for that, Steve. And my last question, any sort of updates on how the partnership discussions are progressing at the La Colorada Skarn? Should we be expecting any sort of news by the end of the year?

Question: Ovais Habib - Scotiabank Global Banking and Markets - Analyst : Excellent. That's it for me, guys. Thank you for taking my questions.

Question: Don DeMarco - National Bank Financial, Inc. - Analyst : Thank you, operator. And good morning, Michael and team. Thanks for taking my questions. Congratulations on a great quarter and really good to see the operations back on track with read-through for us on Q4. Now first question on La Colorada. Michael, so the AISC is significantly lower quarter over quarter. What kind of AISC range might we expect once you're up and running at 2,000 tonne per day?

Question: Don DeMarco - National Bank Financial, Inc. - Analyst : Okay, thank you. Yeah, we see the peso weakening recently, so keep an eye on that. Now a couple of questions on Timmins. Can you quantify the potential favorable cost impact from the new paste fill plant? And then secondly, I see it's been averaging AISC around $2,000 an ounce this year. Previously, this might flag as a concern, but have higher gold prices reduced concerned and extended the life of this asset?

Question: Don DeMarco - National Bank Financial, Inc. - Analyst : Okay. That's helpful. Thanks for that. And then as a final question, Michael, do you have any comments on the recent M&A in the solar space, of course, referring to Gatos and Silvercrest. You're the dominant player in the sector. Are you comfortable with your level of silver production as a percent of revenue? Or are you looking at M&A from a different perspective now that these acquisitions have occurred.

Question: Don DeMarco - National Bank Financial, Inc. - Analyst : Okay. Thank you very much for that. That's all for me. Good luck with Q4.