Pan American Silver Corp.(NASDAQ:PAAS, TSX: PAA) announced production results, including an increase in quarterly gold production in Q4, year-over-year.
As quoted in the press release:
Fourth Quarter 2012 Preliminary Unaudited Operational Highlights :Record silver production of 6.9 million ounces, an increase of 30% over the fourth quarter of 2011; record gold production of 32,381 ounces, an increase of 88% over the fourth quarter of 2011; preliminary, consolidated cash costs of $11.75 per ounce of silver, net of by-product credits.
Pan American’s President and CEO, Geoff Burns, said:
2012 was an excellent production year for Pan American. We achieved our targets for silver production and cash costs during the fourth quarter and for the full year, and in the process we set new quarterly and annual production records for silver and gold. In large part this was the result of the acquisition and integration of the Dolores mine.