ACHIEVED RECORD REVENUES OF $254 MILLION AND RECORD ADJUSTED EBITDA
OF $62.9 MILLION
(All amounts in U.S. dollars unless otherwise indicated)
TORONTO, ON – March 18, 2025 – Andean Precious Metals Corp. (“Andean” or the “Company”)
(TSX: APM) (OTCQX: ANPMF) is pleased to report its operating highlights and financial results for the
year ended December 31, 2024. This news release should be read together with Andean’s management
discussion and analysis (“MD&A”) and the annual consolidated financial statements for the three and
twelve months ended December 31, 2024 (the “Financial Statements”), which are available under the
Company’s profile on SEDAR+ (www.sedarplus.ca).
Alberto Morales, Executive Chairman and CEO, stated: “2024 was a transformative year for Andean
Precious Metals. It marked our first full year with Golden Queen in our operating portfolio, and despite
operating at close to the lower end of our production range, we achieved record revenues and record
adjusted EBITDA, demonstrating the strength of the commodity markets and our operational
efficiencies.”
Mr. Morales continued: “We also proudly uplisted to the TSX from the TSX Venture Exchange, which
was an important milestone that enhances our market visibility and aligns with our long-term growth
strategy. In addition, we renewed our Normal Course Issuer Bid program, reinforcing our confidence in
Andean’s future growth and our commitment to delivering value to shareholders.
“We kicked off an exploration program at Golden Queen which tested near-mine exploration targets,
delivering promising results that could extend the open pit boundaries beyond the current design.
Alongside this, we continue to make good progress on key scheduled investments to enhance
operational stability and efficiency at Golden Queen. As we closed out 2024, we ended the year with a
stronger balance sheet, reflecting solid free cash flow generation since acquiring Golden Queen in 2023
and positioning Andean for its next phase of growth.
"For 2025, we remain committed to value creation at our operating sites, while also pursuing both,
organic and inorganic growth initiatives. Our guidance for 2025 is showing a conservative growth
forecast in production with a mid-point projection of 110,000 gold equivalent ounces, as compared to
106,287 gold equivalent ounces for 2024. We expect to generate significant operating cash flow and
EBITDA in 2025, and to use some of these proceeds in the outlay of CAPEX, which we estimate to be
around $30 million. Overall, we expect 2025 to be a solid year for the Company.
“Finally, I am very pleased with the integration of Yohann Bouchard, our new President, to the Company.
Yohann brings with him significant operational and strategic experience reinforcing our commitments
toward improving our technical and operational excellence.”
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