Geoff Burns, President and CEO of Pan American Silver Corp. (PAAS), Interviews with The Wall Street Transcript

Wall Street Transcript

67 WALL STREET, New York - December 13, 2013 - The Wall Street Transcript has just published its Gold and Precious Metals Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Precious Metals - Lower Gold Price Environment - Precious Metals Exploration and Production - Increasing Capital Expenditures - Emerging Markets Silver Consumption - Mining Safety and Environmental Concerns - Gold Production Cost Structures - Gold Price Stabilization

Companies include: Pan American Silver Corp. (PAAS) and many more.

In the following excerpt from the Gold and Precious Metals Report, the President and CEO of Pan American Silver Corp. (PAAS) discusses company strategy and the outlook for this vital industry:

TWST: That is great. Can you give us a brief look, a snapshot of your most productive mines, their locations and an update on the status of your key projects under development?

Mr. Burns: Sure. As I mentioned we have seven operating mines; three of them are in Mexico, one underground and two open-pit operations. We have two mines in Peru, both of them underground. We have one mine in Bolivia which is an underground mine. And then we have a mine in Argentina, which is a combination open-pit and underground operation.

About 50% of our revenue is currently coming from our three Mexican operations, and it's hard to say which is the most important of those three. At our La Colorada underground mine, we have had an amazing string of exploration success over the last three or four years and have more than tripled the size of the ore reserve there and are currently looking at a plan to significantly increase production. We intend to roll this plant out to the public sometime in the next four to six weeks, and I think our shareholders will be happily surprised by its robustness.

Our other large operation there is called the Dolores mine, which is an open-pit mine which we acquired on April 1 of 2012. It is a wonderful long-life, low-cost mine. It produces both gold and silver. It does about 3.5 million ounces a year of silver and about 60,000 ounces a year of gold. The La Colorada mine, I just mentioned, does about 4.5 million ounces a year of silver and some minor base metal. Those two mines are clearly cornerstone assets for us. They both have long lives with low costs.

Our other mine in Mexico, Alamo Dorado, not to take anything away from it, has been a wonderful mine for the last 10 years, but it's nearing the end of its life. We have just about depleted the reserve there, and it only has about four years of life left and then it will be done.

TWST: What about operational costs overall and drilling costs? Do they vary greatly in different parts of the world where the company has mines; for example Peru, and Argentina as opposed to Colorado?

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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