공고 • Jun 03

Pan American Silver Provides Exploration Update For Its Timmins Operations And Advances Plans For Potential Production Growth And Mine Life Extension

Pan American Silver Corp. provided an update on an extensive exploration program conducted at its Timmins operation in Ontario, Canada, which has identified new mineral resources at the Bell Creek mine and satellite deposits. Based on the success of this program, Pan American Silver Corp. is advancing a conceptual plan for a phased development of these new mineral resources to support potential production growth and extension of mine life at Timmins (the "Timmins Camp Project"). The first phase of the Timmins Camp Project has commenced following approval by the Company's board of directors for a 625m shaft extension project at the Bell Creek mine (the "Bell Creek Shaft Extension Project"), an 814m drift to access the Vogel deposit, and a 1.3km exploration drift to access the Samson deposit, with a total investment of approximately USD 146 million. The initial spending on the first phase was included in the Company's 2026 guidance of USD 40 to USD 43 million of project capital at Timmins, and there are no changes to the Company's 2026 annual guidance. The Timmins operations are currently comprised of two underground gold mines approximately 34km apart, the Timmins West mine and the Bell Creek mine, which both supply ore to the Bell Creek processing plant. The plant has a design capacity of approximately 5,600 tonnes per day ("tpd") with current throughput of approximately 4,400tpd. The Timmins Camp Project is aimed at increasing infrastructure utilization to support sustained production from the Timmins operations over time. Pan American Silver Corp. is advancing the Timmins Camp Project through further engineering studies, mine planning, metallurgical evaluations, underground development, and mineral resource conversion programs. In 2026, the Company is planning to drill a total of approximately 118,000m at Timmins focused on near-mine exploration and mineral resource conversion. Pan American Silver Corp. anticipates publishing an update to the estimated mineral reserves and mineral resources for Timmins, Vogel and Gold River, as of June 30, 2026, with the corporate-wide update in the third quarter of 2026. The Bell Creek mine and mill complex is located approximately 14km northeast of the city of Timmins, Ontario. The current mineral reserves at the Bell Creek mine extend to a depth of approximately 1,925m below surface (1925 Level). A 48,000m exploration drill program began in 2023 to define mineral resources between the 1925 Level and 2,600m below surface (2600 Level). Over the past 18 months, 16,814m of drilling has been completed, targeting the deep projection of the mineralized veins. Results indicate two mineralized shoots approximately 100m apart and splitting the main mineralized body into eastern and western extents. The drill results demonstrate strong continuity of the mineralization to the 2600 Level. The following reflects the Bell Creek drill highlights for the period January 2025 to April 2026. All intercepts are reported as estimated true widths. 18.6m at 3.06 g/t Au and 9.8m at 5.0 g/t Au (drill hole BC1495-5934B-EX). 9.4m at 3.69 g/t Au and 5.9m at 5.32 g/t Au (drill hole BC1495-5934D). 7.4m at 2.88 g/t Au and 3.5m at 8.49 g/t Au (drill hole BC1495-5934C-LR). 6.2m at 3.50 g/t Au and 4.0m at 5.65 g/t Au (drill hole BC1495-5931C). The Bell Creek Shaft Extension Project is designed to deepen the existing shaft by 625m, from 1080m (below surface) to 1705m below surface, enabling access to mine deeper mineralization identified through recent exploration drilling. On-site activities are anticipated to commence in July 2026 and the Bell Creek Shaft Extension Project is expected to require approximately three years to complete, with commissioning in the first half of 2029. The deepening of the Bell Creek mine shaft is expected to extend the mine life at Bell Creek and position the operation as the long-term infrastructure anchor to support development of additional mineral sources and a district-scale integrated mine plan over the coming years. In addition, the Bell Creek Shaft Extension Project is anticipated to: provide cost efficiencies through reduced haulage distances and requirements for trucking fleet and ventilation; and reduce annual CO2 emissions associated with deeper mining operations. The Vogel Project is located approximately 1.5km east-southeast of the Bell Creek mine complex and was previously assessed as an open pit with an underground mine below the pit. In 2025, the Vogel Project was remodeled and assessed solely for underground mining potential. Drilling between October 2025 and March 2026, comprised of 28 holes totaling 12,429m, tested mineralization along strike and at depth beyond the limits of the current geological model and mineral resources. The drill results identified down-dip extension, as well as areas of thicker and higher-grade gold mineralization farther down-dip than previously modeled, significantly expanding the mineralized zone. Drilling is ongoing and has transitioned to infill drilling of the inferred mineral resources. To support future development and accelerate infill drilling of the deeper part of the deposit, an 814m underground drift from the Bell Creek 610 Level commenced in April 2026. Underground drilling is planned for the second half of 2026, following up on the strong drill intercepts from the 2025 and 2026 programs. The following reflects Vogel drill highlights for the period from December 2025 to April 2026. All intercepts are reported as estimated true widths. 19.9m at 8.11 g/t Au, including 1.7m at 77.74 g/t Au and 8.7m at 3.21 g/t Au (drill hole V-26-117A). 10.5m at 8.82 g/t Au and 15.7m at 2.00 g/t Au (drill hole V-25-102). 9.0m at 8.73 g/t Au, including 2.2m at 29.33 g/t Au and 18.7m at 1.45 g/t Au (drill hole V-26-119). 5.1m at 6.30 g/t Au (drill hole V-25-106). 12.2m at 2.62 g/t Au (drill hole V-25-104). As of June 30, 2025, Vogel is estimated to contain 61,000 ounces of indicated gold mineral resources (0.5 million tonnes ("Mt") grading 3.60 Au grams per tonne ("g/t")) and 135,000 ounces of inferred gold mineral resources (1.2Mt grading 3.52 Au g/t) down to an elevation 400m to 450m below surface. The Samson Project (previously known as the 144 south) is located approximately 3.3km southwest of the Timmins West mine shaft and forms part of Pan American Silver Corp.'s broader Timmins mineral resource base. As of June 30, 2025, Samson was reported under the Timmins West Mine and is estimated to contain 118,000 ounces of gold inferred mineral resources (1.7Mt grading 2.20 Au g/t) with the bulk of this mineral resource centered around an elevation that is approximately 800m below surface. In 2025, Pan American Silver Corp. commenced development of a 1.3-km underground exploration drift on the 820 Level from the furthest southwest existing Timmins West mine infrastructure to support underground drilling and future development activities.

공고 • Mar 25

+ 2 more updates

Pan American Silver Corp Announces Revised Preliminary Economic Assessment for La Colorada Skarn Project

Tonnes Processed (Mt): La Colorada Vein Mine (Mineral Reserves): 3.1, 1.0, 0.5, 0.5, 0.3, 0.3, 0.2, 2.4, —, 8.4. La Colorada Skarn Project (Mineral Resources): 0.2, 5.4, 5.3, 5.1, 5.0, 5.1, 5.1, 72.8, 58.3, 162.3. Silver Grade (g/t): La Colorada Vein Mine (Mineral Reserves): 325.8, 261.7, 305.5, 254.0, 277.1, 303.6, 369.0, 280.2, —, 298.0. La Colorada Skarn Project (Mineral Resources): 477.5, 96.7, 93.2, 96.8, 117.5, 108.7, 100.7, 57.7, 34.4, 58.5. Zinc Grade (%): La Colorada Vein Mine (Mineral Reserves): 2.39, 2.51, 1.63, 1.90, 1.78, 2.28, 1.56, 2.34, —, 2.27. La Colorada Skarn Project (Mineral Resources): 2.21, 4.70, 5.02, 4.79, 5.12, 4.83, 5.05, 3.55, 3.17, 3.68. Lead Grade (%): La Colorada Vein Mine (Mineral Reserves): 1.30, 1.47, 1.19, 1.25, 1.13, 1.21, 0.88, 1.17, —, 1.25. La Colorada Skarn Project (Mineral Resources): 1.15, 2.50, 3.20, 3.13, 3.52, 3.16, 3.20, 1.49, 1.45, 1.79. Silver Recovery (%): La Colorada Vein Mine (Mineral Reserves): 93.8, 94.1, 93.1, 93.0, 94.0, 93.6, 93.2, 90.1, —, 92.8. La Colorada Skarn Project (Mineral Resources): 93.8, 92.3, 92.0, 92.3, 93.4, 93.0, 92.5, 89.2, 86.0, 89.7. Zinc Recovery (%): La Colorada Vein Mine (Mineral Reserves): 82.5, 93.7, 93.9, 93.8, 93.9, 93.9, 93.9, 93.4, —, 89.2. La Colorada Skarn Project (Mineral Resources): 82.5, 93.9, 94.0, 93.9, 94.0, 93.9, 94.0, 93.4, 93.1, 93.4. Lead Recovery (%): La Colorada Vein Mine (Mineral Reserves): 88.6, 88.4, 90.0, 89.9, 90.5, 90.0, 90.1, 86.3, —, 88.2. La Colorada Skarn Project (Mineral Resources): 88.6, 89.1, 90.2, 90.1, 90.7, 90.2, 90.2, 86.6, 86.4, 87.7. Silver Production (Moz): La Colorada Vein Mine (Mineral Reserves): 30.9, 8.0, 4.4, 3.6, 2.9, 2.8, 2.5, 19.9, —, 75.1. La Colorada Skarn Project (Mineral Resources): 3.5, 15.4, 14.6, 14.7, 17.6, 16.7, 15.3, 120.4, 55.4, 273.7. Zinc Production (kt): La Colorada Vein Mine (Mineral Reserves): 62.1, 23.9, 7.4, 8.5, 5.8, 6.7, 3.3, 53.4, —, 171.1. La Colorada Skarn Project (Mineral Resources): 4.4, 236.5, 249.1, 231.1, 240.5, 233.0, 243.2, 2,414.6, 1,722.2, 5,574.6. Lead Production (kt): La Colorada Vein Mine (Mineral Reserves): 36.4, 13.2, 5.2, 5.4, 3.5, 3.4, 1.8, 24.6, —, 93.4. La Colorada Skarn Project (Mineral Resources): 2.5, 119.5, 152.4, 144.8, 159.2, 146.6, 148.0, 939.5, 729.9, 2,542.4. Operating Costs: Mining cost ($/tonne mined): USD 54.5. Processing cost ($/tonne processed): USD 8.5. G&A cost ($/tonne processed): USD 7.4. Cash cost per payable silver ounce (initial 5 yr. avg.): USD (26.34). Cash cost per payable silver ounce (LOM): USD (15.89). All-in sustaining cost per payable silver ounce (initial 5 yr. avg.): USD (22.67). All-in sustaining cost per payable silver ounce (LOM): USD (10.50). Capital Costs: Initial capital in billions: USD 1.9. Sustaining capital in billions: USD 1.2. Total capital expenditures (LOM) in billions: USD 3.2. Economic Analysis (Base Case Prices): Annual after-tax incremental cash flow (initial 5 yr. avg.) in millions: USD 653. Cumulative after-tax incremental cash flow in billions: USD 7.1. Incremental NPV(5%) (After-tax) in billions: USD 2.6. IRR (After-tax): 17%. Pay-back period (After-tax, undiscounted) in years: 4. The La Colorada Skarn Project entails an approximately 6 year capital development and construction timeline, from 2026 to 2031, followed by a 2 year commissioning and ramp-up period. Total initial capital is estimated at USD 1,947 million. Initial Capital Cost Estimate (in USD millions): Surface Infrastructure: 135. Processing Plant: 277. Paste Backfill Plant: 66. Initial Tailings Storage Facility Works: 42. Power: 34. Underground Access and Development: 622. Mining Equipment: 100. Dewatering: 19. Underground Infrastructure: 153. Subtotal Direct Costs: 1,448. Indirect Costs: 176. Subtotal Direct and Indirect Costs: 1,625. Contingency: 323. Total: 1,947. Incremental NPV(5%) (After-tax): Ag prices (USD/oz): 30.00, 45.00, 60.00, 75.00. Zn prices (USD/t): 2,200, 2,500, 2,800, 3,100, 3,400. IRR (After-tax): Ag prices (USD/oz): 30.00, 45.00, 60.00, 75.00. Zn prices (USD/t): 2,200, 2,500, 2,800, 3,100, 3,400. The La Colorada Skarn Project production plans are built from the mineral resource models that were previously reported as the "La Colorada Vein" and "La Colorada Skarn" mineral resources with an effective date June 30, 2025. The La Colorada Skarn Project economic analysis excludes the mineral reserves from the La Colorada vein mine. Skarn Mineral Resource: The indicated mineral resource, reported effective as at June 30, 2025, is estimated to total 265.4 million tonnes containing 309 million ounces of silver, 7.6 million tonnes of zinc and 3.6 million tonnes of lead. In addition, the inferred mineral resource is estimated to total 61.7 million tonnes containing 59 million ounces of silver, 1.6 million tonnes of zinc and 0.6 million tonnes of lead. La Colorada Vein Mine Mineral Reserves and Mineral Resources: Proven Reserves: 3.4 million tonnes, 300 g/t Ag, 0.21 g/t Au, 1.24% Pb, 2.17% Zn, 33.2 million ounces Ag, 23 thousand ounces Au, 42 thousand tonnes Pb, 75 thousand tonnes Zn. Probable Reserves: 6.1 million tonnes, 295 g/t Ag, 0.21 g/t Au, 1.20% Pb, 2.21% Zn, 57.5 million ounces Ag, 40 thousand ounces Au, 73 thousand tonnes Pb, 134 thousand tonnes Zn. Proven & Probable Reserves: 9.5 million tonnes, 297 g/t Ag, 0.21 g/t Au, 1.21% Pb, 2.19% Zn, 90.7 million ounces Ag, 64 thousand ounces Au, 115 thousand tonnes Pb, 208 thousand tonnes Zn. Measured Resources: 0.4 million tonnes, 229 g/t Ag, 0.12 g/t Au, 0.91% Pb, 1.55% Zn, 3.0 million ounces Ag, 2 thousand ounces Au, 4 thousand tonnes Pb, 6 thousand tonnes Zn. Indicated Resources: 2.6 million tonnes, 144 g/t Ag, 0.35 g/t Au, 0.68% Pb, 1.14% Zn, 11.8 million ounces Ag, 29 thousand ounces Au, 17 thousand tonnes Pb, 29 thousand tonnes Zn. Measured & Indicated Resources: 3.0 million tonnes, 156 g/t Ag, 0.32 g/t Au, 0.71% Pb, 1.20% Zn, 14.8 million ounces Ag, 30 thousand ounces Au, 21 thousand tonnes Pb, 36 thousand tonnes Zn. Inferred Resources: 15.3 million tonnes, 297 g/t Ag, 0.27 g/t Au, 1.93% Pb, 3.39% Zn, 146.5 million ounces Ag, 132 thousand ounces Au, 295 thousand tonnes Pb, 520 thousand tonnes Zn. The proven & probable mineral reserves have not been included in the Revised PEA economics. The La Colorada vein mine inferred mineral resources, as well as the small amount of measured and indicated mineral resources that are included in the Revised PEA production plan, are a portion of the La Colorada mineral resources reported in the Company's mineral resource update effective as at June 30, 2025.

총 주주 수익률	2.6%
미래 배당 수익률	1.5%
배당 성장률	14.6%
다음 배당 지급일	n/a
배당락일	n/a
주당 배당금	n/a
배당 성향	18%

구분	배당 수익률
회사 (PAAS)	1.4%
시장 하위 25% (US)	1.4%
시장 상위 25% (US)	4.1%
업계 평균 (Metals and Mining)	1.4%
분석가 예측 (PAAS) (최대 3년)	1.5%

데이터	최종 업데이트 (UTC 시간)
기업 분석	2026/09/10 16:21
종가	2026/09/10 00:00
수익	2026/06/30
연간 수익	2025/12/31

패키지	데이터	기간	미국 소스 예시 ^*
기업 재무제표	10년	손익계산서 현금흐름표 대차대조표	SEC 양식 10-K SEC 양식 10-Q
분석가 컨센서스 추정치	+3년	재무 예측 분석가 목표주가	분석가 리서치 보고서 Blue Matrix
시장 가격	30년	주가 배당, 분할 및 기타 조치	ICE 시장 데이터 SEC 양식 S-1
지분 구조	10년	주요 주주 내부자 거래	SEC 양식 4 SEC 양식 13D
경영진	10년	리더십 팀 이사회	SEC 양식 10-K SEC 양식 DEF 14A
주요 개발	10년	회사 공시	SEC 양식 8-K

분석가	기관
Matthew Murphy	BMO Capital Markets Equity Research
Kevin O'Halloran	BMO Capital Markets Equity Research
Lawson Winder	BofA Global Research

Pan American Silver 배당 및 자사주 매입

배당 기준 점검 4/6

핵심 정보

최근 배당 및 자사주 매입 업데이트

Second quarter dividend of US$0.18 announced

Pan American Silver Corp. Declares Cash Dividend for the Second Quarter 2026, Payable on or About September 4, 2026

First quarter dividend of US$0.18 announced

Pan American Silver Corp. Declares Cash Dividend for the First Quarter of 2026, Payable on or About June 1, 2026; Provides Dividend Guidance for the Year 2026

Fourth quarter dividend of US$0.18 announced

Pan American Silver Corp. Announces Cash Dividend with Respect to Fourth Quarter 2025, Payable on or About March 13, 2026

Recent updates

Pan American Silver: Deep Value Gold & Silver As A Hedge Against A Weak U.S. Dollar

Second quarter dividend of US$0.18 announced

Second quarter 2026 earnings: EPS and revenues miss analyst expectations

Pan American Silver Corp. Revises Production Guidance for the Third Quarter of 2026

Pan American Silver Corp. Declares Cash Dividend for the Second Quarter 2026, Payable on or About September 4, 2026

Investor sentiment improves as stock rises 19%

Pan American Silver Corp. to Report Q2, 2026 Results on Aug 12, 2026

Investor sentiment deteriorates as stock falls 17%

Pan American Silver Provides Exploration Update For Its Timmins Operations And Advances Plans For Potential Production Growth And Mine Life Extension

Investor sentiment improves as stock rises 26%

First quarter dividend of US$0.18 announced

Pan American Silver Corp. Declares Cash Dividend for the First Quarter of 2026, Payable on or About June 1, 2026; Provides Dividend Guidance for the Year 2026

Antofagasta PLC Announces Appointment Of Ignacio Bustamante As Director Of Pan American Silver Corp., Effective April 30, 2026

Now 27% overvalued after recent price rise

High number of new directors

Pan American Silver Corp Announces Revised Preliminary Economic Assessment for La Colorada Skarn Project

Investor sentiment deteriorates as stock falls 20%

Pan American Silver Corp. to Report Q1, 2026 Results on May 05, 2026

Pan American Silver Corp. Discovers New High-Grade Veins At La Colorada Mine

Price target increased by 7.0% to US$68.63

Investor sentiment improves as stock rises 17%

Fourth quarter dividend of US$0.18 announced

Full year 2025 earnings: EPS and revenues exceed analyst expectations

Pan American Silver Corp. Announces Cash Dividend with Respect to Fourth Quarter 2025, Payable on or About March 13, 2026

Pan American Silver Corp., Annual General Meeting, Apr 30, 2026

Investor sentiment improves as stock rises 17%

Price target increased by 7.2% to US$56.00

Pan American Silver Corp. Provides Production Guidance for the Year 2026

Insider recently sold US$1.4m worth of stock

Price target increased by 7.3% to US$51.25

President recently sold US$1.4m worth of stock

Pan American Silver Corp. to Report Q4, 2025 Results on Feb 18, 2026

Pan American Silver Corp. Releases New Drill Results for its Jacobina, El Penon, La Colorada, Huaron, Timmins, Timmins, Cerro Moro Mines

Investor sentiment improves as stock rises 16%

Third quarter dividend of US$0.14 announced

Third quarter 2025 earnings: EPS misses analyst expectations

Pan American Silver Corp. Announces Executive Changes

Price target increased by 7.0% to US$47.63

Xali Gold Corp. (TSXV:XGC) entered into a Share Purchase Agreement to acquire Minera Calipuy S.A.C. from Pan American Silver Corp. (TSX:PAAS) and Aquiline Resources Inc. for $17.5 million.

Price target increased by 7.0% to US$47.63

Price target increased by 9.2% to US$43.00

New minor risk - Insider selling

Pan American Silver Corp. Reports Mineral Reserves and Mineral Resources as At June 30, 2025

Insider recently sold US$893k worth of stock

New minor risk - Shareholder dilution

Pan American Silver Reports Discovery of Multiple High-Grade Silver Zones at the La Colorada Mine

Pan American Silver Corp. (TSX:PAAS) completed the acquisition of MAG Silver Corp. (TSX:MAG) from Fresnillo plc (LSE:FRES) and others.

Mineros Chile SpA agreed to acquire 80% stake in Minera Cavancha SpA from Pan American Silver Corp. (TSX:PAAS) for $40 million.

Second quarter dividend of US$0.12 announced

Second quarter 2025 earnings: EPS and revenues exceed analyst expectations

Pan American Silver Corp. Reaffirms Its Operating Guidance for the Year 2025

Investor sentiment improves as stock rises 18%

Investor sentiment deteriorates as stock falls 16%

Pan American Silver Corp. (TSX:PAAS) entered into a definitive agreement to acquire MAG Silver Corp. (TSX:MAG) for $2.1 billion.

First quarter dividend of US$0.10 announced

First quarter 2025 earnings: EPS and revenues exceed analyst expectations

Pan American Silver Corp. Reaffirms Its Operating Guidance for the Year 2025

Pan American Silver: Flying High, But Stuck In A Holding Pattern - With Escobal In View

Price target increased by 7.4% to US$31.33

Pan American Silver: Another Record Year On Deck

Investor sentiment deteriorates as stock falls 17%

Fourth quarter dividend of US$0.10 announced

Pan American Silver Corp. Declares Cash Dividend on Common Shares, Payable on or About March 14, 2025

Full year 2024 earnings released: EPS: US$0.31 (vs US$0.32 loss in FY 2023)

Pan American Silver Corp., Annual General Meeting, May 07, 2025

Secular Silver Shortfall Could Keep Prices Higher For Longer For Pan American Silver

Pan American Silver Corp. to Report Q4, 2024 Results on Feb 19, 2025

Pan American Silver: One Of The Better Options For Silver Exposure

Pan American Silver Provides Annual Exploration Update