Andean Precious Metals Reports Second Quarter 2025 Financial Results

Core Insights - Andean Precious Metals Corp. reported strong financial results for Q2 2025, with record revenues and EBITDA, and upward revisions to financial metrics for the San Bartolome operation [1][5][6] Financial Highlights - Consolidated revenue for Q2 2025 reached $73.7 million, an increase from $69.8 million in Q2 2024, driven by higher average realized gold and silver prices [2][13] - Average realized gold price was $3,316 per ounce in Q2 2025, compared to $2,305 per ounce in Q2 2024, while average realized silver price increased from $27.80 to $34.36 per ounce [2][43] - Adjusted EBITDA for Q2 2025 was $28.9 million, up from $17.2 million in Q2 2024 [2][40] - Net income for Q2 2025 was $17.4 million, or $0.12 per share, compared to $9.4 million, or $0.06 per share, in Q2 2024 [2][13] Operational Performance - Q2 2025 production totaled 24,341 gold equivalent ounces, down from 29,867 ounces in Q2 2024 [2][8] - San Bartolome produced 12,128 gold equivalent ounces in Q2 2025, while Golden Queen produced 12,213 ounces [9][19] - Cash Gross Operating Margin (CGOM) for San Bartolome was $13.89 per silver equivalent ounce sold, significantly higher than $5.03 in Q2 2024 [9][10] Balance Sheet Strength - The company ended Q2 2025 with $87.3 million in liquid assets, an increase from $72.0 million at the end of Q2 2024 [2][44] - Total assets rose to $320.9 million, while total liabilities decreased to $139.4 million [2][13] Guidance and Future Outlook - The company reaffirmed its 2025 production and capital expenditure guidance for both Golden Queen and San Bartolome [3][19] - San Bartolome's CGOM guidance was revised upward from a range of $6.50 - $8.40 to $8.00 - $13.00, reflecting favorable production costs and strong silver prices [15][18] - The company anticipates first ore from a new project in the second half of 2026, following a purchase agreement with state-owned COMIBOL [6][19]