Andean Precious Metals Stock Earnings Reports

Andean Precious Metals reported a very strong Q3 2025: record revenue ($90.4M), record adjusted EBITDA ($36.8M), record net income ($43.7M) and record EPS ($0.29). Free cash flow was $11.2M and liquid assets rose to $121M, leaving the company with a negative net debt position and strong balance sheet flexibility supported by a newly filed $200M base shelf prospectus. Operationally, consolidated Q3 production was ~25,700 gold equivalent ounces (YTD ~71,400), with San Bartolome outperforming (1.4M oz Ag; ~15,600 gold eq. oz) and Golden Queen impacted by a temporary leach-cycle/percolation issue that reduced near-term recoveries. Management expects San Bartolome to finish the year at the high end of guidance, Golden Queen to continue recovering into Q4, and consolidated production to finish near the lower end of full-year guidance but with margins and costs remaining within guidance. CapEx was low in Q3 ($0.6–1.1M reported; Dom clarified a cash-flow basis adjustment) but management expects year-end CapEx to be within guidance, including work on a new heap leach pad. Exploration activity is being stepped up: Golden Queen drilling extended to 8,100m targeting near-mine extensions and San Bartolome has permitted and started a 5,500m shallow program to test oxide targets to extend mine life. Management emphasizes cost and capital discipline, remediation measures at Golden Queen (operational changes, new agglomeration drum, potential fine bypass and Merrill-Crowe throughput increase), and continued optionality to pursue growth given the strong liquidity position.