Pan American Silver Corp. (PAAS) Q1 2026 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 2026 results conference call. As a reminder, all participants are in listen-only mode and 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. You'll hear a tone acknowledging your request. 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 Suram Susecki, Vice President, Investor Relations. Please go ahead, Ms. Susecki. Thank you for joining us today for Pan American Silver's conference call and webcast to discuss our first quarter 2026 results. This call includes forward-looking statements and information and references non-GAAP measures. Please see the cautionary statements in our MD&A Q1 news release, shareholder return framework news release, and presentation slides for the period ended March 31, 2026, all of which are available on our website. I'll now turn the call over to Michael Steinman, Pan American's President and CEO. Good morning, everyone, and thank you for joining us today. I'm pleased to report another solid quarter of operating performance delivering strong operating earnings. Attributable silver production of 6.4 million ounces and attributable gold production of 169,000 ounces were in line with our outlook. Silver segment all-in sustaining costs of $6.63 per ounce came in well below guidance, while gold segment all-in sustaining costs of $1,000 $851 per ounce were consistent with expectations. The performance on silver segment costs was driven by the contribution of low cost ounces from Juanisipio and the...