Andean Precious Metals Reports Second Quarter 2025 Financial Results

Executive Summary

• Andean Precious Metals reported Q2 2025 consolidated revenue of $73.7 M, up from $69.8 M in Q2 2024, driven by higher realized gold ($3,316/oz) and silver ($34.36/oz) prices.
• Net income rose to $17.4 M (≈$0.12 per diluted share) versus $9.4 M (≈$0.06) a year earlier; adjusted EBITDA reached $28.9 M.
• The company repaid its revolving credit facilities in full, leaving the $25 M facility fully available and liquid assets at $87.3 M.

Key Details

• Production: 24,341 gold‑equivalent ounces produced in Q2 2025 (down from 29,867 oz YoY).
• Golden Queen: 12,213 AuEq oz produced; OCC $1,717/oz, AISC $2,245/oz.
• San Bartolome: 12,128 AuEq oz produced; CGOM $13.89 per AgEq oz, GMR 45.9%.
• Financial Highlights (Q2 2025):
• Revenue: $73.739 M
• Gross operating income: $29.381 M
• Income from operations: $24.538 M
• Capital expenditures: $8.200 M
• Free cash flow: $12.265 M
• Balance Sheet: Total assets $320.9 M; total liabilities $139.4 M (down from $164.1 M).
• Guidance Updates: Revised San Bartolome cost guidance – CGOM $8.00‑$13.00 (vs. $6.50‑$8.40) and GMR 33%‑45% (vs. 29%‑36%).
• Strategic Agreement: Exclusive long‑term purchase agreement with COMIBOL for up to 7 million tonnes of oxide ore; first ore expected H2 2026.
• Reaffirmed 2025 Guidance: Gold production 51.8‑57.2 kt, silver 4.6‑5.4 M oz, total AuEq 102.9‑117.2 kt.
• Conference Call: Wednesday, August 13, 2025 at 9:00 AM ET (webcast link provided).

Notable Quotes

“Q2 was another strong quarter for Andean, marked by record revenue, and robust EBITDA… We continue to make progress developing this project where we anticipate first ore in the second half of 2026.” – Alberto Morales, Executive Chairman & CEO.