Pan American Silver(US:PAAS)2022-11-10 19:35Q3 2022 Financial Results - Pan American Silver reported an adjusted net loss of $2.8 million, or $0.01 per share[16] - The company generated $54.4 million in net cash from operating activities[16] - As of September 30, 2022, Pan American Silver's total available liquidity was $653.1 million, including $153.1 million in cash and cash equivalents and a $500 million revolving credit facility[70] Production and Guidance - Silver production for Q3 2022 was 4.5 million ounces[16] - Gold production for Q3 2022 was 128,800 ounces[16] - The company reaffirmed its gold production guidance for 2022, while revising silver production expectations to between 18.0 and 18.5 million ounces[16, 75] Yamana Gold Acquisition - Pan American Silver and Agnico Eagle Mines Limited made an offer to acquire Yamana Gold for a total consideration of $4.8 billion, or $5.02 per Yamana share[18, 20] - The transaction consideration includes $1.0 billion in cash funded by Agnico Eagle, approximately 36.1 million Agnico Eagle shares, and approximately 153.5 million Pan American shares[21] - The acquisition is expected to increase Pan American's annual silver production by approximately 9.5 million ounces (+59%) and annual gold production by approximately 550,000 ounces (+104%)[33] Financial Position and Strategy - The company declared a dividend of $0.10 per common share[16] - Pan American Silver has generated $1.8 billion in free cash flow since 2010, returning $644 million to shareholders and investing $698 million in expansions[73]