BVN - Buenaventura reports Q2 production and volume sold output; updates FY22 guidance

• Peru's largest precious metals producer, Buenaventura ( NYSE: BVN ) reported 2Q22 results for production and volume sold.
• 2Q22 at Tambomayo with gold of 14.35K oz, lead 2.82K oz. and zinc 3.92 oz. production exceeded expectations due to an increase in grade and metallurgical recovery. 2Q22 silver production of 433.82K oz. was in line with expectations for the quarter.
• 2Q22 gold production of 17.75K oz. at Orcopampa exceeded expectations due to an increase of treated ore and higher gold grades.
• Production remained stable at Coimolache, during the quarter with higher than expected gold production of 19.93K oz. due to positive reconciliation of grades from the Mirador Norte open pit along with improved leaching permeability.
• 2Q22 silver production of 640.56K oz. at Julcani was in line with expectations.
• Reported stable production at the underground mine at a rate of 8,000 tpd. 2Q22 copper production was in line with expectations.
• Updates FY22 guidance : Tambomayo : gold production to be 48k - 53k; Silver production to be 1.8M - 2.4M; zinc production to be 8.0k - 10.0k; Lead production of 6.0k - 8.0k; Coimolache : gold production to be 80k - 85k; El Brocal : gold production to be 12k - 15k; silver production to be 3.0M - 3.5M; zinc production to be 16.0k - 20.0k; lead production of 5.0k - 6.0k and copper production to be 40.0k - 45.0k.

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