{"id":1095568,"date":"2019-01-22T14:55:55","date_gmt":"2019-01-22T14:55:55","guid":{"rendered":"http:\/\/www.mining.com\/?p=964667"},"modified":"2019-01-22T14:55:55","modified_gmt":"2019-01-22T14:55:55","slug":"pan-american-silver-shares-crater-as-2018-results-slightly-below-targets","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1095568","title":{"rendered":"Pan American Silver shares crater as 2018 results slightly below targets"},"content":{"rendered":"

Shares Pan American Silver (TSX, NASDAQ:PAAS), the miner that recently acquired precious metal miner Tahoe Resources<\/a>\u00a0(TSX:THO)\u00a0(NYSE:TAHO) creating one of the world\u2019s largest silver producers, fell in pre-market trading after it reported full year production<\/a> marginally below guidance.<\/p>\n

The Canadian miner said it had churned out 24.8 million ounces of silver last year, just shy of the 25-26.5 million ounces expected. Gold output, however, exceeded the company\u2019s lower end of its 175,000-185,000 ounces\u00a0target, totalling 178,900 ounces.<\/p>\n

Weak silver prices have taken a toll on miners\u2019 shares in the past weeks. The precious metal\u00a0just completed\u00a0its worst year in three\u00a0and has already erased its 2019 gains.<\/q><\/p>\n

The company\u2019s shares plummeted more than 7% to $13.18 in New York by 10:00 am local time and were trading 1.88% lower to C$17.79 in Toronto around the same time.<\/p>\n

“2018 was a pivotal year for Pan American with low cash costs, strong cash flow, continued improvements at Morococha and Huaron, and positive impact to the bottom line from our\u00a0La Colorada\u00a0and\u00a0Dolores expansions,” President and Chief Executive Officer Michael Steinmann said.<\/p>\n

The executive said the acquisition of Reno, Nevada-based Tahoe Resources\u00a0\u00a0is expected to close at the end of February, which will effectively double its silver reserves.<\/p>\n

Pan American, already the world\u2019s second-largest primary\u00a0silver miner,\u00a0expects to produce between 26.5 million ounces and 27.5 million ounces of the grey precious metal this year, with gold output in the range of 162,500 ounces to 172,500 ounces.<\/p>\n

Weak silver prices have taken a toll on miners\u2019 shares in the past weeks. The precious metal\u00a0just completed its worst year in three<\/a> and has already erased its 2019 gains.<\/p>\n

The post Pan American Silver shares crater as 2018 results slightly below targets<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Canadian miner said it had churned out 24.8 million ounces of silver last year, just shy of the 25-26.5 million ounces expected. <\/p>\n

The post Pan American Silver shares crater as 2018 results slightly below targets<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[404,369,896,897],"tags":[25,48,71,102],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1095568"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1095568"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1095568\/revisions"}],"predecessor-version":[{"id":1095635,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1095568\/revisions\/1095635"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1095568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1095568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1095568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}