Andean Precious Metals Corp (TSX:APM)
C$ 5.8 (0%) Market Cap: 873.56 Mil Enterprise Value: 686.98 Mil PE Ratio: 4.17 PB Ratio: 2.01 GF Score: 89/100

Q4 2025 Andean Precious Metals Corp Earnings Call Transcript

Mar 25, 2026 / 01:00PM GMT
Release Date Price: C$6.5 (+2.36%)

Key Points

Positve
  • Andean Precious Metals Corp (ANPMF) achieved record revenue, Adjusted EBITDA, and net income in 2025, alongside strong free cash flow generation.
  • The company exited the year with a record $167 million in liquid assets, providing financial flexibility for growth initiatives.
  • Operational performance at both San BartolomĂ© and Golden Queen contributed to strong margins and record financial results.
  • The company maintained a balanced production profile with significant contributions from both silver and gold.
  • Andean Precious Metals Corp (ANPMF) plans a New York Stock Exchange listing and an updated technical report at Golden Queen, indicating future growth potential.
Negative
  • Production for the year finished near the low end of guidance, slightly below 100,000 gold equivalent ounces.
  • The release of the technical report at Golden Queen has been postponed due to longer-than-expected turnaround times at the assay lab.
  • Cash costs at Golden Queen were relatively high at $1,698 per gold ounce, with all-in sustaining costs at $2,194 per gold ounce.
  • There is potential impact from global supply chain volatility and high oil prices, which could affect operational costs.
  • The company experienced a reduction in the valuation of its equity investments due to market volatility.
Operator

Thank you for standing by. At this time, I would like to welcome everyone to the Andean Precious Metals fourth quarter and year-end conference call and webcast. (Operator Instructions) Thank you. I would now like to turn the call over to Amanda Mallough, Director of Investor Relations. You may begin.

Amanda Mallough
Andean Precious Metals Corp - Director of Investor Relations

Thank you. Good morning, everyone, and thank you for joining Andean Precious Metals conference call to discuss our financial and operating results for the 3 and 12 months ended December 31, 2025. Our press release, MD&A, and financial statements are available on SEDAR+ and on our corporate website at andeanpm.com. Before we begin, I would like to remind listeners that today's discussion will include forward-looking statements. Please refer to our cautionary language in our filing.

Joining me on the call today are Alberto Morales, Executive Chairman and CEO; Yohann Bouchard, our President; Juan Carlos Sandoval, our Chief Financial Officer; and Dom Kizek, our Vice President of

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