Pan American Silver Corp. (PAAS) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. This is the conference operator. Welcome to the Pan American Silver first quarter 2025 results conference call. As a reminder, all participants are in listen-only mode. The conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Siren Susaki, VP, Investor Relations. Please go ahead, Ms. Susaki. Thank you for joining us today for Pan American Silver's conference call and webcast to discuss our results for the first quarter of 2025. This call includes forward-looking statements and information and makes reference to non-GAAP measures. Please see the cautionary statements in our MD&A news release and presentation slides for Q1 2025 results, all of which are available on our website. I'll now turn the call over to Michael Steinman, Pan American's President and CEO. Hello, everyone. I'm glad you could join us to discuss our Q1 results. 2025 is off to a strong start. with Pan American posting another quarter of solid operating performance, building on the momentum from last year. Mine operating earnings have been increasing over each quarter in 2024, and this trend continued for the first quarter of 2025, reaching a record of $250.8 million in mine operating earnings. The improvements in metal prices have certainly contributed to margin expansions But I would like to acknowledge the work of our teams in not only maintaining a focus on safe, efficient operations, but also carefully managing costs in order to deliver the margin improvements that resulted in the record ...