Business
Andean Precious Metals Reports 2021 Earnings; Delivers on Silver Production and Cost Guidance
Company reports positive fourth quarter and full year results and provides guidance for 2022 ...
About this update from Andean Precious Metals Corp
[{"type":"text","content":"Andean Precious Metals Reports 2021 Earnings; Delivers on Silver Production and Cost GuidanceCompany reports positive fourth quarter and full year results and provides guidance for 2022Toronto, Ontario--(Newsfile Corp. - March 17, 2022) - Andean Precious Metals Corp. (TSXV: APM) (OTCQB: ANPMF) (\"Andean\" or the \"Company\"), today reported its positive financial results for the fourth quarter and year ended December 31, 2021 (\"Q4\" and \"FY\" respectively). All currency amounts are expressed in U.S. dollars unless indicated otherwise. \"2021 exceeded all expectations in our inaugural year as a public company,\" said Simon Griffiths, President and CEO of Andean. \"We met our full year guidance but most importantly, we accomplished this while completing another year without a lost time or environmental incident. We also advanced our exploration drill programmes at our prospective San Pablo porphyry gold target.\" Mr. Griffiths went on to say, \"As a result of our operational and financial performance in 2021, we entered 2022 with a clean balance sheet that provides us a strategic advantage for negotiating mergers and acquisition transactions. We will build on this success through executing on plans to expand the life-of-mine at San Bartolomé, and supported by consistent production and cashflows, this continues to position Andean well as a consolidator of assets.\"FY 2021 Operational and Financial HighlightsProduction of 5.8 million silver equivalent ounces1, compared to FY 2021 guidance of 5.8 to 6.1 million ounces, and includes 1.4 million ounces in Q4 2021;All-in sustaining costs (\"AISC\")2 per silver ounce sold of $18.17, compared to FY 2021 guidance of $17.50 to $19.50 per ounce;Processing plant throughput increase of 16% to 1.7 million tonnes, compared to 1.5 million tonnes in FY 2020;Revenues of $144.2 million from sales of 5.8 million silver equivalent ounces, compared with $130.7 million from sales of 6.0 million silver equivalent ounces for FY 2020;Free cash flow2 (\"FCF\") of $30.0 million compared with $35.3 million for FY 2020.Adjusted EBITDA2 of $34.4 million, compared with $39.7 million for FY 2020;Completed over 5,700 metres of drilling in 2021 at San Pablo and Rio Blanco gold exploration properties;Increased measured and indicated resource estimate to 27.5 million ounces of silver and 11.9 thousand tonnes o...