Pan American Silver Corp. (NASDAQ:PAAS) Q4 2023 Earnings Call Transcript

Don DeMarco : And just as a follow-up to that I think La Arena to the sulphide project has been mentioned as a candidate others certainly are. Can you share any color on what might be the sort of top candidates for divestment consideration?

Michael Steinmann : Look, I mean, I think we talked about La Arena too. Obviously, La Arena 1, our oxide mine is producing. It’s a very strong producer for us. I think everybody knows we extended actually that oxide life from probably when we purchased tower like 2021 to 2026, so very successful exploration program on that asset as well. The deep sulphides or deeper sulphides, the copper deposit, obviously like a similar kind of bucket for us than MARA was. We are — it’s not our commodity ready to build out copper deposits. But the rest of the divestments look, we are very active working on it. We are very active working on the search for a partner for La Colorado. And I would like to leave it with that at the moment. Obviously we’ll inform the market as soon as anything is ready to share.

Operator: There are no further questions at this time. Mr. Steinmann, please proceed.

Michael Steinmann : Thanks operator and thanks everyone for being on the call. It has been a very dynamic year last year, as we indicated with the close of the transaction, integration of the asset selling multiple assets, retaining not only good cash values for that, but also, strong royalties and last but not least, coming out and publishing that really exciting PA on La Colorado Skarn. So very active year. A lot of cash movements in our portfolio over the year. As I mentioned strong repayment of debt. We don’t have short-term debt anymore. Very strong cash balance and being the fortunate situation to be able to use that cash for further growth and keep investing in our projects not only sustaining capital but also project capital on something like La Colorado to advance that project but still be obviously in the position to maintain our dividend and to buy back some of our shares at this — what I would think very low valuation.

So really looking forward to 2024 and looking forward to keep you updated in May of our Q1 results. Until then, thank you very much.

Operator: Thank you. Ladies and gentlemen that does conclude our conference for today. Thank you all for participating. You may all disconnect.