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PAN AMERICAN SILVER CORP

TSX:PAAS
C$63.22Close 7 Oct 2026 · delayed

Past year: ▲ 28%(49.40 – 93.58 CAD)

Market cap
A$26.67bn
Shares on issue
422m
Story beats
32 since 2008
Last event
25 Mar 2026

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

1 June 2026drilling progress report● Neutral

Pan American released an exploration update for its Timmins operations in Ontario, with the headline saying it advances plans for potential production growth and mine life extension. Only the headline is in the text, so no drill results or plans are given. The filing was signed by Ibtissam Drier, SVP Business Development and Human Resources, rather than Delaney Fisher.

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7 May 2026resource reserve update● Neutral

Pan American filed a technical report on the La Colorada Mine in Zacatecas, Mexico, effective March 24, 2026, with five consents and five qualified-person certificates. The text is a cover page and exhibit list, so no figures are given. The effective date matches the revised PEA announcement of March 24, 2026, so it is probably the supporting report (inference).

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25 Mar 2026resource reserve update▲ GoodMajor

Pan American announced a revised preliminary economic assessment (PEA) for the La Colorada Skarn Project, describing La Colorada as a future top-tier silver mine. Only the headline is in the text, so no production, cost or return figures are given. This continues the Skarn story from the 2020 resource increase and 2022 drilling, and the headline wording is the company's own characterisation.

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3 Dec 2025resource reserve update● Neutral

Pan American filed a Juanicipio technical report (resource and reserves), effective March 4, 2024, with six qualified-person consents. The text is a cover page and exhibit list, so no resource or reserve figures are given. The filing does not state Pan American's interest in Juanicipio; it may relate to the MAG Silver arrangement (inference), but the filing does not say so.

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22 Jan 2025resource reserve update● Neutral

Pan American filed a new technical report on the El Peñón gold-silver mine in Chile, effective June 30, 2024, with five qualified-person consents. The text is a cover page and exhibit list, so no resource or reserve figures are given. It replaces the older Yamana-era El Peñón report (effective Dec 31, 2020) filed in August 2023 with one prepared under Pan American.

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25 Mar 2024resource reserve update● Neutral

Pan American filed an amended version of the La Colorada Mine technical report (effective December 18, 2023) with a cover letter and five consents. The text does not say what was amended, and no resource or reserve figures are given. This replaces the report filed on January 31, 2024. The filing also shows a new head-office address at 2100-733 Seymour Street, Vancouver.

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1 Feb 2024resource reserve update● Neutral

Pan American filed a technical report on the La Colorada Mine in Zacatecas, Mexico, effective December 18, 2023, with five qualified-person consents. The text is a cover page, exhibit list and standard caution, so no resource or reserve figures are given. It updates La Colorada, where the Skarn project has been drilled since 2022, but the filing does not mention the Skarn.

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26 Dec 2023resource reserve update● Neutral

Pan American filed a new technical report on the Jacobina Gold Mine in Bahia State, Brazil, effective June 30, 2023, with five qualified-person consents (Martin Wafforn, Camila Passos, Americo Delgado, Carlos Iturralde, Matthew Andrews). The text is a cover page, exhibit list and standard US-investor caution, so no resource or reserve figures are given. This replaces the older Yamana-era Jacobina report (effective Dec 31, 2019) filed in August 2023 with a report prepared under Pan American.

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16 Aug 2023resource reserve update● Neutral

Pan American filed a technical report on the El Peñón gold-silver mine in Antofagasta, Chile, prepared for Yamana Gold, effective December 31, 2020 and signed March 25, 2021, with four qualified-person consents. It is an older Yamana-era report, so it does not reflect current figures; the resource and reserve numbers were truncated and cannot be given. El Peñón appears to come to Pan American through the Yamana acquisition completed March 31, 2023 (inference on the link), and this follows the Jacobina Yamana-era report filed the same day.

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16 Aug 2023resource reserve update● Neutral

Pan American filed a technical report on the Jacobina Gold Mine in Bahia State, Brazil, prepared for Yamana Gold, effective December 31, 2019 and signed May 29, 2020. It is an older Yamana-era report, so it does not reflect current figures. The reserve and resource numbers were truncated and cannot be given. Jacobina came to Pan American through the Yamana acquisition completed March 31, 2023, per the May 2023 release (inference on the link to this filing).

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19 Dec 2022resource reserve update● Neutral

Pan American filed a technical report on the Shahuindo Mine in Cajabamba, Peru, with three qualified-person consents. The exhibit list says effective November 30, 2022, while the cautionary note says December 31, 2022 (the filing is inconsistent). No resource or reserve figures are in the text. It updates the older Shahuindo report filed in October 2019, and Pan American is now filing it as its own.

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2 Dec 2022resource reserve update● Neutral

Pan American filed a technical report on the Dolores property in Chihuahua, Mexico, effective June 30, 2022, with three qualified-person consents. The text is a cover page, exhibit list and consents, so no resource or reserve figures are given. This updates Dolores, which earlier context noted needed reserve optimisation, but the filing says nothing about that.

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25 Nov 2022resource reserve update● Neutral

Pan American filed a technical report on the Huaron property in Pasco, Peru, effective October 30, 2022, with consents from Martin Wafforn, Christopher Emerson and Americo Delgado. The text is a cover page, exhibit list and a standard US-investor caution, so no resource, reserve or economic figures are available. It updates Huaron, a Peru mine already in the company's holdings.

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21 July 2022drilling result▲ Good

Pan American reported 22 new drill holes (18,071 metres) at the La Colorada Skarn project, including its best intercept so far: 295.5 metres at 234 g/t silver, 6.36% lead and 5.72% zinc, with 97.0 metres at 654 g/t silver. It says a resource update is planned for Q3 2022 but will not include these holes (cut-off April 30, 2022), and no reserves have yet been estimated for the Skarn. This continues the La Colorada skarn growth story from the August 2020 resource increase to 100.4 Mt.

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22 Feb 2022resource reserve update● Neutral

Pan American filed an updated mineral resource and reserve technical report for the Timmins West Mine in Bristol Township, Ontario, effective June 30, 2021, with the same three consents as the Bell Creek report. The text supplied is a cover page and exhibit list only, so no figures are given. This updates the older Timmins West report filed in October 2019.

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22 Feb 2022resource reserve update● Neutral

Pan American filed an updated mineral resource and reserve technical report for the Bell Creek Mine in Timmins, Ontario, effective June 30, 2021, with consents from Alain Mainville, Dave Felsher and Eric Lachapelle. The text supplied is a cover page and exhibit list only, so no resource or reserve figures are given. Unlike the October 2019 Bell Creek report, which was prepared for Lake Shore Gold, this is a current update filed under Pan American's name.

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4 Aug 2020drilling progress report▲ GoodMajor

Pan American announced it raised the mineral resource estimate for the La Colorada skarn deposit to 100.4 million tonnes and gave a drilling update. Only the headline and cover page are in the text supplied, so grades, ounces and drilling results are not available. This continues the La Colorada growth theme in the earlier reserve and expansion filings.

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6 Mar 2020resource reserve update● Neutral

Pan American filed a new technical report on its La Colorada property in Zacatecas, Mexico, effective December 31, 2019, along with consents from three qualified persons (Martin Wafforn, Christopher Emerson and Americo Delgado). The text supplied contains only the cover page and consents, so no resource, reserve or expansion figures can be taken from it. It follows the La Colorada expansion discussed in earlier filings.

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21 Oct 2019resource reserve update● Neutral

Pan American filed a feasibility-study technical report on the Escobal Mine in Guatemala, dated November 5, 2014 (resource effective January 23, 2014, reserve effective July 1, 2014). The text names Tahoe Resources in the mine's history section. The filing does not say why Pan American is filing it, and the resource and reserve figures were truncated. Inference only: part of a batch of Tahoe-related reports filed the same day.

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21 Oct 2019resource reserve update● Neutral

Pan American filed a technical report on the Shahuindo Mine in Cajabamba, Peru, dated January 25, 2016 (resource effective April 15, 2015, reserve effective November 1, 2015). It was written by Kappes, Cassiday & Associates and Tahoe Resources staff. The filing does not explain Pan American's link to the mine, and the resource and reserve figures were truncated. Inference only: another Tahoe-related asset, following the Timmins West and Bell Creek reports filed the same day.

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21 Oct 2019resource reserve update● Neutral

Pan American filed a technical report on the Bell Creek gold mine in Timmins, Ontario, prepared for Lake Shore Gold Corp., dated March 27, 2015 (effective December 31, 2014). It sits alongside the Timmins West report filed the same day; the filing does not say why Pan American is filing these, and the reserve figures were truncated, so none can be given. Inference only: the Lake Shore Gold and Tahoe reports may point to assets acquired through a Tahoe combination, but the filing does not state this.

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21 Oct 2019resource reserve update● Neutral

Pan American filed a technical report on the Timmins West gold mine in Ontario, prepared for Tahoe Resources and dated September 20, 2017 (effective May 15, 2017). This is a mine Pan American does not appear in earlier context to own, so the filing implies a Tahoe-related link; the supplied text does not explain it, and the report's resource, reserve and economic figures were truncated. Inference only: it may relate to a Tahoe combination, but the filing as provided does not say so. No figures can be drawn from it here.

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20 Feb 2014resource reserve update▲ GoodMajor

Pan American reported year-end 2013 proven and probable silver reserves of 323.5 million ounces, up 2% from about 317 million a year earlier, and gold reserves of about 2.5 million ounces. Exploration added 40.1 Moz against 33.7 Moz mined, and the company used lower metal prices (silver $22/oz versus $25). La Colorada rose to 81.4 Moz; Dolores tonnes fell from 87.8 Mt to 68.6 Mt with higher grades, leaving silver reserves at 72.6 Moz (down 3.5 Moz) and gold at 1.75 Moz (up 135,000 oz); Manantial Espejo replaced only 42% of what was mined. Huaron, Morococha and San Vicente each replaced their 2013 production. For 2014 it plans $14.0M for about 108 km of drilling at its seven mines and $6.5M for greenfield exploration, down from $16.3M and $14.7M in 2013. This delivers the reserve update promised in the January release.

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31 Jan 2014resource reserve update▲ GoodMajor

Pan American said La Colorada's proven and probable silver reserves rose 26% to 81.4 million ounces at December 31, 2013 (about 16.7 million ounces of new reserves added net of 2013 production, per this release). It also filed a preliminary technical report on SEDAR for the mine expansion announced December 18, 2013, which targets annual silver output rising from 4.6 million ounces (2013) to 7.7 million ounces in 2018. The company notes the expansion decision is not based on a feasibility study and the report includes speculative inferred resources, so results are uncertain. This builds on the La Colorada Amolillo/NC2 drilling flagged in earlier filings and the 64.8 Moz reserve at end 2012.

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21 Feb 2013resource reserve update▲ GoodMajor

Pan American reported year-end 2012 proven and probable silver reserves of 316.9 million ounces, up 35% from 235.3 million at end 2011, and gold reserves of about 2.4 million ounces. Exploration added 31.2 Moz against 26.0 Moz mined, La Colorada rose 47% to 64.8 Moz, and the Dolores mine and La Bolsa project added 80.6 Moz after the Minefinders deal, while 4.2 Moz left with Quiruvilca. Morococha (down 8% to 37.1 Moz) and Manantial Espejo (down 27% to 21.2 Moz) fell, and the first Dolores estimate (76 Moz silver, 1.6 Moz gold) is below Minefinders' 2010 estimate. The company plans $16.3M for about 124,000 m of drilling at its seven mines and $14.7M for greenfield exploration in 2013. This delivers the December 2012 update that earlier filings said was due in February 2013.

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15 Aug 2012drilling progress report▲ Good

Pan American reported 2012 drill results. At La Colorada, the Amolillo vein (about 500 m northwest of the main HW/NC2 structures, currently producing 125 tonnes a day) was intersected down to the 520 level, with its strike length now 900 m; best sulphide hole returned 2.41 m at 1,750 g/t silver. At Waterloo (California, 100% held since 1996), the first drilling returned 108 m at 181 g/t silver from surface. Waterloo's 101 million ounce estimate is historical, not verified and not treated as a current resource; a second phase is planned. Results will feed the December 2012 reserve and resource update, due February 2013.

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23 Feb 2012resource reserve update▲ GoodMajor

Pan American reported year-end 2011 proven and probable silver reserves of 235.3 million ounces, up 2% from 230.7 million. It added 29.3 million ounces against 24.7 million mined, with La Colorada up 15% to 44.1 million ounces (NC2 vein still open at depth and to the east). Measured and indicated resources were 708.8 million ounces and inferred 271.7 million; the Navidad resource update is deferred to its feasibility study later in 2012. It plans $15.5 million for about 116,000 m of drilling at the seven operating mines and $7.8 million for greenfield exploration in 2012; the filing says cost pressures (notably in Argentina) and weaker concentrate sales terms affected results at some operations. These figures exclude Minefinders.

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11 Aug 2011resource reserve update▲ GoodMajor

Pan American and Orko Silver released the preliminary economic assessment for La Preciosa that the company had targeted for late 2010 (it arrived in August 2011). It envisions 6.8 million ounces of silver a year for 12 years at a cash cost of $11.84 per ounce net of by-products, with about $270 million of pre-production capital. At $25 silver and $1,250 gold, after-tax net present value is $315 million and the IRR is 24.3%. The study is preliminary and includes inferred resources, and the filing says there is no certainty it will be realized. Pan American can earn a 55% interest by bringing the project into production. The feasibility study, earlier expected by end 2010, is now due by April 2012 per Orko's CEO, with a construction decision targeted for the first half of 2012.

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17 Feb 2011resource reserve update● NeutralMajor

Pan American reported year-end 2010 proven and probable silver reserves of 230.7 million ounces. It added 27.0 million ounces through drilling against 28.3 million mined, replacing 96% of what it mined. The 2009 figure is restated here as 232.0 million (earlier reported as about 234 million). The 2010 total reflects the removal of 1.9 million ounces of pyrite stockpiles from reserves to resources, after management wrote off that asset because it believes Doe Run's La Oroya smelter, the only buyer, is unlikely to resume operations soon; this resolves the earlier La Oroya receivable question. La Colorada reserves grew 26% to 38.3 million ounces, with 12.1 million ounces from the NC2 vein extension, which remains open at depth and to the east. Measured and indicated resources rose to 714.8 million ounces and inferred to 245.2 million ounces, excluding pending updates for Navidad and La Preciosa. The 2011 plan is $10.9 million for about 108,000 m of drilling at the seven operating mines and $12.2 million for greenfield exploration, a lower greenfield budget than the $15.4 million planned for 2010.

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11 Feb 2010resource reserve update▲ GoodMajor

Pan American reported year-end 2009 proven and probable silver reserves of about 234 million ounces, up roughly 5% from 223.7 million; it added 36.8 million ounces against 26.6 million mined. La Colorada reserves grew 67% to 30.4 million ounces, following the NC2 discovery in the January drilling release. Measured and indicated silver resources rose to 711 million ounces from 82 million, which the company ties to the fourth-quarter Aquiline acquisition and its Navidad project in Argentina. It plans a record $15.4 million greenfield exploration budget for 2010, reversing the 2008 cutback.

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