Pan American Silver Closes Sale of Pico Machay Project to Xali Gold

Core Insights - Pan American Silver Corp. (PAAS) has completed the sale of its interest in Minera Calipuy S.A.C., which owns the Pico Machay project, to Xali Gold Corp. for a cash payment of $500,000 [1][3][9] Group 1: Pico Machay Project Details - The Pico Machay project, located in Peru, is an advanced exploration-stage gold project with a high-sulphidation gold deposit and aims for near-term production, providing immediate value and substantial upside to Xali Gold [2] - The historic resource estimate for the Pico Machay project includes 264,600 ounces of gold in the Measured and Indicated category and an additional 446,000 ounces in the Inferred category [3] Group 2: Portfolio Optimization - Pan American Silver has been focusing on optimizing its portfolio, having disposed of its 80% ownership in the La Pepa project for $40 million and its fully owned interest in La Arena for $306.6 million in cash proceeds [4][9] - The company completed the acquisition of MAG Silver Corp., enhancing its position as a leading silver producer and strengthening its silver reserve base [5] Group 3: Recent Developments - Pan American Silver gained a 44% stake in the Juanicipio project, a large-scale, high-grade silver mine, which positively impacted its silver segment performance and cash flow in the third quarter of 2025 [6] - The transaction also added full ownership of the Larder exploration project and a full earn-in interest in the Deer Trail exploration project, significantly contributing to production, reserves, and cash flow [7] Group 4: Stock Performance - Over the past year, PAAS shares have increased by 162.5%, while the industry has seen a 201.6% increase [8]