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Highlights

  • Andean produced 24,341 gold equivalent ounces in Q2, bringing H1 output to 45,702 ounces.
  • Q2 production improved over Q1 and remains aligned with the company’s full-year guidance.
  • Golden Queen and San Bartolomé delivered within or near their forecasted H1 production ranges.

Andean Precious Metals Corp. (TSX:APM) has reported its operational results for the second quarter ended June 30, 2025. The company produced 24,341 gold equivalent ounces during the period, bringing total first-half production to 45,702 ounces. Andean’s operations remain on track to meet full-year consolidated production guidance, which assumes a weighted production profile of approximately 40% in the first half and 60% in the second half of the year.

Andean is a precious metals producer with assets in the Americas. It operates the San Bartolomé processing facility in Bolivia and the Golden Queen mine in California. The company’s strategy is focused on expansion within top-tier jurisdictions, supported by a well-capitalized balance sheet and a multi-asset development plan.

Quarter-over-quarter, production improved as planned. Gold production for Q2 totaled 11,945 ounces, with 1.12 million ounces of silver produced. Gold equivalent ounces are calculated using a fixed price ratio based on CAD 2,500 per ounce gold and CAD 27.78 per ounce silver, applying a conversion factor of 90.

Production at the Golden Queen mine contributed 12,213 gold equivalent ounces in Q2, from 11,224 ounces of gold and 89 thousand ounces of silver. This brought its first-half output to 23,402 gold equivalent ounces, staying within the company’s guidance range of 20,880 to 24,240 ounces. The San Bartolomé operation contributed 12,128 gold equivalent ounces in Q2, with 1.03 million ounces of silver and 721 ounces of gold, resulting in first-half output of 22,300 gold equivalent ounces. This figure also aligns with the operation’s guidance range of 20,280 to 22,640 ounces.

Compared with the same quarter in 2024, consolidated production declined from 30,340 to 24,341 gold equivalent ounces. Gold ounces sold dropped from 15,679 to 11,403, and silver ounces sold declined slightly from 1.21 million to 1.05 million. Total gold equivalent ounces sold for the quarter were 23,024, down from 30,741 in Q2 2024.

Despite the year-over-year decline, the company reaffirmed its position relative to 2025 targets. Management noted the expected ramp-up in production during the second half of the year based on established mine plans and seasonal factors. According to Executive Chairman and CEO Alberto Morales, Andean is trending toward the higher end of its full-year production guidance and anticipates further improvements across both operations.