Q1 Brings Silver, Gold Production Increases for Pan American

Pan American Silver Corp. (TSX:PAA,NASDAQ:PAAS) announced its unaudited results for the first quarter of 2014, commenting that its consolidated silver production rose 5 percent from the year-ago quarter, hitting 6.61 million ounces. Meanwhile, it produced 45,900 ounces of gold, a 43-percent increase.

Other highlights include:

• AISCSOS of $15.54, net of by-product credits, down 20% year-on-year
• Consolidated cash costs of $8.25 per silver ounce, net of by-product credits, down 27% year-on-year
• Revenue of $209.7 million
• Mine operating earnings of $31.6 million
• Net earnings of $6.8 million or $0.05 per share
• Adjusted earnings of $8.6 million or $0.06 per share
• Net cash generated from operating activities of $36.1 million, or $0.24 per share, up 12% year-on-year
• Total dividends paid to common shareholders of $18.9 million

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