Pan American Reports Q2 2012 Silver Production of 6.4 Million Ounces

Pan American Silver Corp. (NASDAQ:PAAS,TSX:PAA) announced that its financial and operating results for the second quarter of 2012 include a 14 percent increase in silver production.

According to the press release, highlights of the results include:

• Second-highest quarterly silver production in Company history, of 6.4 million ounces
• Quarterly record gold production of 32,244 ounces
• Consolidated cash costs of $11.85 per ounce of silver, net of by-product credits
• Mine operating earnings of $56.3 million
• Net earnings of $44.0 million or $0.29 per share
• Adjusted earnings of $17.1 million or $0.11 per share
• Operating cash flow (before working capital changes) of $35.0 million or $0.23 per share
• Invested $23.5 million to repurchase 1.3 million of the Company’s shares. Completed the repurchase
  program subsequent to quarter end, totaling 5.4 million shares.

Click here to read the full Pan American Silver Corp. (NASDAQ:PAAS,TSX:PAA) press release.