April 20, 2014 9:41 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Compañía Minera Argentum S.A.

Company Overview

Compania Minera Argentum S.A. engages in the extraction, exploration, treatment, processing, and sale of oil and gas. The company was founded in 2003 and is headquartered in Lima, Peru. Compania Minera Argentum S.A. is a subsidiary of Pan American Silver Perú, S.A.C.

Av. La Floresta No. 497

Oficina 301

San Borja

Lima,  

Peru

Founded in 2003

Key Executives for Compañía Minera Argentum S.A.

Compañía Minera Argentum S.A. does not have any Key Executives recorded.

Compañía Minera Argentum S.A. Key Developments

Compañía Minera Argentum S.A. Reports Unaudited Production and Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Provides Production and Capital Expenditure Guidance for the Second Half and Full Year of 2013

Compañía Minera Argentum S.A. reported unaudited production and earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported total tonnes milled of 147,022 compared to 128,365 reported a year ago. The company produced 555,314 ounces of silver, 567 ounces of gold, 3,741 tonnes of zinc, 928 tonnes of lead and 439 tonnes of copper compared to 525,371 ounces of silver, 594 ounces of gold, 2,461 tonnes of zinc, 836 tonnes of lead and 349 tonnes of copper produced a year ago. The company silver production was up 6% from the production achieved in the comparable 2012 period. The expected increase was attributable to the increased throughput and recovery that more than offset lower than expected silver grades. For the quarter, the company reported loss before income taxes of $9,619,000 and net loss of $7,785,000 compared to loss before income taxes of $2,251,000 and net loss of $1,798,000 reported a year ago. Revenue from external customers was $13,869,000 compared to $18,226,000 reported a year ago. Capital expenditures for the quarter were $6,185,000 compared to $6,443,000 reported a year ago. The capital spending was primarily on long term mine development and related infrastructure, equipment repairs and replacements, and exploration drilling. For the six months, the company reported total tonnes milled of 287,850 compared to 252,357 reported a year ago. The company produced 1,079,019 ounces of silver, 1,208 ounces of gold, 7,045 tonnes of zinc, 1,850 tonnes of lead and 861 tonnes of copper compared to 988,123 ounces of silver, 1,537 ounces of gold, 5,637 tonnes of zinc, 1,677 tonnes of lead and 711 tonnes of copper produced a year ago. For the six months, the company reported loss before income taxes of $13,520,000 and net loss of $11,167,000 compared to earnings before income taxes of $611,000 and net loss of $3,067,000 reported a year ago. Revenue from external customers was $39,394,000 compared to $36,461,000 reported a year ago. Capital expenditures for the six months were $12,442,000 compared to $14,711,000 reported a year ago. For the second half of 2013, the company expects to produce 1.22 million to 1.32 million ounces of silver, 1,200 ounces to 1,400 ounces of gold, 6,900 to 7,700 tonnes of zinc, 1,700 to 1,900 tonnes of lead and 650 to 950 tonnes of copper. For the second half of 2013, the company expects capital expenditures of $3.9 million. For the full year of 2013, the company expects to produce 2.30 million to 2.40 million ounces of silver, 2,400 ounces to 2,600 ounces of gold, 13,900 to 14,700 tonnes of zinc, 3,600 to 3,800 tonnes of lead and 1,500 to 1,800 tonnes of copper. For the full year of 2013, the company expects capital expenditures of $16.3 million.

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