Pan American Silver Corp. · TSX:PAAS
Pan American Silver — Q2 2021 Earnings Presentation
14 slides from Pan American Silver's earnings presentation, Aug 11, 2021
Slide 1: Conference Call, August 11, 2021
1 CONFERENCE CALL // AUGUST 11 2021
Slide 2: Cautionary Note Regarding Forward Looking Statements
2 silver and gold segments for the purposes of our financial reporting, as are inherently subject to significant operational, business, economic and described in the Company’s MD&A for the period ended December 31, regulatory uncertainties and contingencies. These assumptions include: the 2020. All
Slide 3: Cautionary Note (continued)
3 CONTINUED statements or information to reflect changes in assumptions or in Canadian public disclosure standards, including NI 43-101, differ significantly circumstances or any other events affecting such statements or information, from the requirements of the United States Securities and Exchange
Slide 4: Q2 2021 Highlights
4 NASDAQ: PAAS // TSX: PAAS Revenue of $382.1 million, impacted by an Strong financial position with cash and STI inventory buildup, which is expected to be sold balances of $240.4 million, working capital of over H2 2021 $603.1 million and a fully undrawn $500.0 million on the credit facility Net i
Slide 5: Silver and Gold Production
5 Silver Production Gold Production (ounces ‘000s) (ounces ‘000s) Q2 2021 H1 2021 Q2 2021 H1 2021 La Colorada 1,099 2,164 0.7 1.2 Huaron 903 1,787 0.3 0.6 Morococha(1) 568 1,089 0.3 0.4 San Vicente(2) 601 1,302 0.1 0.2 Manantial Espejo 635 1,333 8.1 14.0 Dolores 612 1,246 43.3 80.3 Shahuindo 54 119
Slide 6: Cash Costs and AISC
6 Cash Costs(1) AISC(1) 1. Cash Costs and AISC are non-GAAP measures. Please refer to the “Alternative Performance (Non-GAAP) Measures” section of the ($ per ounce) ($ per ounce) MD&A for the period ended June 30, 2021 for a detailed description of these measures and where appropriate a reconciliati
Slide 7: Realized Metal Prices and Quantities of Metal Sold
7 Realized Metal Prices(1) Quantities of Metal Sold(2) Q2 2021 H1 2021 Q2 2021 H1 2021 Silver $26.88 $26.66 4,044 7,534 Gold $1,809 $1,798 126.2 262.2 Zinc $2,935 $2,849 11.9 23.0 Lead $2,151 $2,096 4.3 8.2 Copper $9,679 $9,076 1.6 3.4 1. Metal price stated as dollars per ounce for silver and gold,
Slide 8: Q2 2021 Financial Results
8 unaudited in millions of US$, except per share amounts Q2 2021 H1 2021 Revenue 382.1 750.2 Mine operating earnings 103.0 193.0 Net income 71.2 63.7 Basic income per share(1) 0.34 0.30 Adjusted income(2) 46.6 84.1 Basic adjusted income per share(1)(2) 0.22 0.40 Net cash generated from operating act
Slide 9: Cash and Short-Term Investments Change
9 Sustaining Cash Flow Performance Growth, Business Development, and Other $400 $154 $2 $350 $300 ($53) $14 $10 ($37) $237 $240 $250 $206 ($21) ($13) ($15) ($8) Millions $200 $150 $100 $50 $0 Cash and STI Adjusted Net other Sustaining Net changes Net income Dividends Cash and STI Sales of non- Reval
Slide 10: Q2 2021 Basic Adjusted Net Earnings
10 Q2 2021 Basic Adjusted Net Earnings $0.22/share (1) $80 $1.6 $71.2 $1.6 $70 $60 ($10.6) ($5.2) ($4.1) $50 $46.6 ($4.0) ($3.3) ($0.5) Millions $40 $30 $20 $10 $0 Net earnings for Unrealized Effect of taxes on Unrealized Effect of foreign Gain on sale of Heap inventory Share of income Unrealized ga
Slide 11: Production and Cash Flow Back-End Loaded in 2021
11 Annual Production production and cash 1. Cash Costs and AISC are non-GAAP measures. Please refer to the section flow back-end Silver - Moz 20.50 – 22.00 “Alternative Performance (Non-GAAP) Measures” of the Q2 2021 MD&A for a detailed description of these measures and where appropriate a reconcili
Slide 12: FCF Allocation 2010 – Q2 2021
12 9%Share 24% Repurchases Dividends // $1.6B in FCF generated since 2010, returning $529 M to shareholders (3) and investing $611 M in expansions FCF 28% ALLOCATION Debt Repayment 2010 – Q2 2021 Cash Flow Priorities 1 Maintain balance sheet flexibility, with low to zero debt 39% Expansion 2 Invest
Slide 13: To join the queue
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Slide 14: Audio and presentation archive
The audio and presentation archive of this conference call and webcast will be accessible on our website at: https://www.panamericansilver.com/investors/events-and-presentations/