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Andean Precious Metals Issues 2021 Guidance Following Strong Growth in Revenue and Profitability in 2020
Toronto, Ontario--(Newsfile Corp. - May 3, 2021) - Andean Precious Metals Corp. (TSXV: APM) ("...
About this update from Andean Precious Metals Corp
[{"type":"text","content":"Andean Precious Metals Issues 2021 Guidance Following Strong Growth in Revenue and Profitability in 2020Toronto, Ontario--(Newsfile Corp. - May 3, 2021) - Andean Precious Metals Corp. (TSXV: APM) (\"Andean\" or the \"Company\"), a precious metals production, development and exploration company today reported its operational and financial results for the fourth quarter and year ended December 31, 2020, and issued guidance for fiscal 2021. The Company's common shares began trading on the TSX Venture Exchange as a tier-one issuer on March 29, 2021. All amounts are expressed in U.S. dollars unless indicated otherwise. FY2020 HighlightsProduction of 5.9 million silver equivalent ounces([1]) at an all-in sustaining cost of $14.75 per ounce from the wholly owned 1.65 Mtpa San Bartolomé processing plant.Sales of 6.0 million silver equivalent ounces(1)Revenues of $130.7 millionFree cash flow([2]) of $35.5 millionFY2021 Guidance HighlightsProduction of 5.8 to 6.1 million silver equivalent ouncesAISC of $17.50 to $19.50/silver oz sold on a by-product basis([3])Operational and Financial ResultsFinancial Performance([4])Q4 2020Q4 2019FY 2020FY 2019 Revenue$55.6$23.0$130.7$88.7 Cost of sales$32.8$19.0$82.7$76.6 Income (loss) from mine operations$20.5$0.3$37.6$(3.1) Net income (loss)$39.0$(3.3)$46.0$(12.8) Net income (loss) per share (basic and diluted)$0.33$(3,346)$1.50$(12,801) Operating cash flow$23.9$4.3$37.4$11.1 Free cash flow(2)$23.2$3.9$35.5$7.5 EBITDA(2)$22.7$1.4$41.1$4.6 Ending cash and cash equivalents$38.5$14.1$38.5$14.1 Capital expenditures $0.7$0.4$2.2$3.6 Cash operating costs (\"COC\")(2) $ 13.68 $ 15.15 $ 13.06 $ 13.98 All-in sustaining costs (\"AISC\")(2) $ 15.18 $ 16.98 $ 14.75 $ 16.21  Luis da Silva, the Company's President and CEO stated, \"Fiscal 2020 year was an impressive year for Andean Precious Metals. Our strong cash generation demonstrates the importance of our flagship San Bartolomé operation as a significant primary silver producer even in a volatile price environment and despite the impact of COVID-19 on the operations. We look forward to building on the success of the team during 2021 and beyond, now as a publicly-traded company.\"Revenue for the fourth quarter of 2020 was $55.6 million compared to $23.0 million in the fourth quarter of 2019. Revenue growth was attributable to an increase in silver...