Pan American Silver‘s (TSX: PAAS; NYSE: PAAS) integration of Yamana Gold’s Latin American assets has delivered US$150 million in free cash flow in the third quarter alone, an industry conference has heard.
The US$4.8-billion acquisition in November 2022, including the long-life Jacobina gold-silver mine in Brazil, has also boosted the company’s financial performance, CEO Michael Steinmann told The Northern Miner’s International Metals Symposium on Dec. 2. He says the company’s success hinges on strategic acquisitions, operational excellence and a strong growth pipeline.
“People don’t buy Pan American shares for the dividend; they buy it for growth,” he said.
Steinmann noted the company’s caution about Argentina. He is hopeful about recent political changes but said he prefers investments in Mexico and Brazil.
He also underlined new industrial demand as a key driver for silver prices, providing a stable floor around US$25 per oz. and positioning Pan American to capitalize on the growing clean energy sector.
Watch the full discussion below, moderated by The Northern Miner’s interim editor-in-chief Colin McClelland.
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