Pan American Silver Corp. (PAAS) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, my name is Joanna and I will be your conference operator today. At this time, I would like to welcome everyone to Pan America Silver's second quarter 2023 conference call. Siren, you may begin your conference. Thank you for joining us today for Pan American Silver's Q2 2023 conference call. 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 our Q2 2023 unaudited results, all of which are available on our website. I'll now turn the call over to Michael Steinman, Pan American President and CEO. Thanks, Siren, and thank you everyone for joining our call today. The second quarter is the first period we are reporting results inclusive of the assets acquired through the Yamana transaction. which closed on March 31st. The results clearly deliver on the benefits we had expected through the strategic acquisition, enhancing both the scale and quality of our portfolio. With the contribution of the new assets, production in Q2 was up 102% for gold and 55% for silver relative to Q1. Consolidated Q2 silver production of 6 million ounces was at the high end of our 2023 quarterly guidance and consolidated record gold production of 248,200 ounces also approached the upper end of the range. Silver and gold segment all in sustaining costs per ounce of $15.70 and $1,342 respectively are within our full year cost guidance. With a strong performance year to date, we have reaffirmed our original 2023 operating guidance provided in our Q1 2023 MD&A. As indicated with that guidance, our production is back and weighted, particularly for gold in the fourth quarter. Please see the quarterly operating outlook provided in the Q1 MD&A for the ...