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Pan American Silver produced 6.8 million silver ounces and a record 46,200 gold ounces in the fourth quarter of 2013
Record Annual Production of 26 Million Silver Ounces and 149,800 Gold Ounces for 2013 ...
About this update from Pan American Silver Corp.
[{"type":"text","content":"\n\n\n\n\n\nRecord Annual Production of 26 Million Silver Ounces and 149,800 Gold\n Ounces for 2013\n\n\n(All amounts expressed in US$ unless otherwise indicated)\n\n\nVANCOUVER, Jan. 20, 2014 /CNW/ - Pan American Silver Corp. (\"Pan American\" or the \"Company\") (PAAS: NASDAQ) (PAA: TSX) produced 6.8 million ounces of silver at its\n seven operating mines during the fourth quarter of 2013, setting a new\n consolidated production record of 26 million silver ounces for fiscal\n 2013, in-line with the upper end of our annual guidance.\n\n\nPan American also set a new quarterly production record for gold at\n 46,200 ounces, boosting 2013's annual gold production to a Company\n record of 149,800 ounces, comfortably exceeding our revised annual\n guidance.\n\n\n\n\n\n\n\nFourth Quarter 2013 Preliminary Unaudited Operational Highlights*\n\n\n\n\n\n\n\nSilver production of 6.8 million ounces, 1% lower than in the fourth\n quarter of 2012\n\n\n\nRecord gold production of 46,200 ounces, 42% higher than in the fourth\n quarter of 2012\n\n\n\nPreliminary, consolidated cash costs of $9.56 per ounce of silver, net\n of by-product credits, a decrease of 19% from the fourth quarter of\n 2012\n\n\n\n\n\n\n\n2013 Full-Year Preliminary Unaudited Operational Highlights*\n\n\n\n\n\n\n\nRecord silver production of 26 million ounces, an increase of 4% from\n 2012\n\n\n\nRecord gold production of 149,800 ounces, an increase of 33% from 2012\n\n\n\nPreliminary consolidated cash costs of $10.81 per ounce of silver, net\n of by-product credits, a decrease of 10% from 2012\n\n\n\n\n\n\n\n* Cash costs per ounce, net of by-product credits, for both the fourth\n quarter and full-year 2013 are considered preliminary and could change\n based on final audited financial results. Cash costs per ounce, is a\n non-GAAP measure and does not have a standardized meaning. Please refer\n to the note entitled \"Non-GAAP Measures - Cash Costs per Ounce\" at the\n end of this news release for further discussion of this measure.\n\n\nCommenting on the fourth quarter results, Geoff Burns, Pan American's\n President and CEO said, \"We closed 2013 with very strong production, a\n continuation of the momentum we generated during the previous\n quarter. Our fourth quarter's silver production was 6.8 million ounces,\n the second highest in our history, while we establi...