Source: Pan American Silver Corp. Huaron Mine in Pasco, Peru.
Investment Thesis
The Vancouver-based Pan American Silver Corp. (PAAS) delivered an impressive production again this quarter. I was concerned that the temporary mine suspensions experienced in South America and Mexico would have cut output more severely, and it was a sigh of relief. However, the full effect of the COVID-19 will be felt in the second quarter.
The gold assets acquired from Tahoe have again saved the day. Below are the gold and silver production for the first quarter attached to the Tahoe acquisition.
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