Andean Precious Metals Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $196.6 million, up 117% year over year
- ➤Free cash flow $69.8 million, up from $12.4 million
- ➤2026 production guidance narrowed to 101,000–109,000 GEOs
- ➤Golden Queen gold guidance cut to 37,000–40,000 ounces
- ➤2026 capital expenditure guidance reduced to $17–$28 million
Expert Statements
Alberto Morales, Executive Chairman and CEO of Andean Precious Metals Corp.
“The third quarter demonstrates the strength of our business and the benefits of disciplined execution. Our choice to defer the sale of finished inventory at the end of the second quarter allowed us to realize stronger metal prices early in Q3, contributing to record quarterly revenue and strong cash generation, which combined with our solid balance sheet, positions Andean with considerable financial flexibility. Operationally, our teams at San Bartolome and Golden Queen continue to advance the priorities at each operation. San Bartolome delivered another strong quarter, with higher purchased-ore grades and sustained throughput supporting an improved silver outlook. At Golden Queen, higher heap leach recoveries contributed to a sequential improvement in production. We remain focused on supporting our people and driving further operational improvements at both assets. Our updated guidance reflects the operating outlook for the remainder of the year, while the reduction in planned capital expenditures demonstrates our disciplined approach to prioritizing investment and capital allocation. We also continue to execute on that approach through our share repurchases and the addition of a strategic silver holding to our treasury. Andean's vision is to build the company into a leading mid-tier precious metals producer with a diversified portfolio across the Americas. The updated Golden Queen technical report will be an important input into our assessment of the operation and future investment opportunities. With a strong financial foundation, two operating assets and an experienced team, we are focused on improving performance, allocating capital thoughtfully and creating sustainable long-term value for shareholders.”
Donald J. Birak, Independent Consulting Geologist and Qualified Person to Andean Precious Metals Corp.
“The scientific and technical content disclosed in this news release was reviewed and approved by Donald J. Birak, Independent Consulting Geologist to the Company, a Qualified Person as defined by National Instrument 43-101 - Standards”
Record Quarterly Revenue of $197 Million; Net Income of $32 Million; Operating Cash Flow of $72 Million and Free Cash Flow of $70 Million; Cash of $94 Million and Liquid Assets of $196 Million; 2026 Guidance Updated
Toronto, Ontario--(Newsfile Corp. - November 10, 2026) - Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF) ("Andean" or the "Company") reports its financial results for the three and nine months ended September 30, 2026. Management will host an earnings conference call and webcast on Wednesday, November 11, 2026, at 9:00 a.m. Eastern Time (details below). This news release should be read together with the Company's management's discussion and analysis ("MD&A") and condensed interim consolidated financial statements (the "Financial Statements") for the three and nine months ended September 30, 2026, which are available under the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website at www.andeanpm.com.
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