Andean Precious Metals Corp. posted consolidated second-quarter revenue of $67.6 million and production of 25,388 gold equivalent ounces, while holding back a significant portion of its metal inventory for treasury management.

The strategic deferral resulted in a quarterly net loss of $14.0 million and an operating cash outflow of $55.0 million as finished inventory accumulated on the balance sheet at a cost of $37.6 million as of June 30, 2026.

“The second quarter was defined by our decision to defer the sale of a significant portion of our production for strategic treasury management purposes. We ended the quarter with finished inventory of approximately 732,000 ounces of silver and 2,585 ounces of gold, carried at a cost of $37.6 million on the balance sheet. As a result, reported revenue and earnings for the quarter do not fully reflect the underlying operating performance of the business.

Subsequent to June 30, 2026, we sold the deferred finished inventory at weighted average realized prices of $62.26 per silver ounce and $4,168 per gold ounce, for gross proceeds of approximately $56.3 million. The related revenue will be recognized in the Company's results for the three months ending September 30, 2026.”

— Alberto Morales, Executive Chairman and CEO

Year-to-date consolidated revenue increased to $230.8 million for the first six months of 2026, compared to $135.7 million for the same period in 2025. Financial results were supported by higher realized metal prices; the average realized silver price for Q2 2026 reached $76.82 per ounce, up from $34.36 a year earlier, while the average realized gold price climbed to $4,453 per ounce from $3,316.

Operationally, the San Bartolome processing facility in Bolivia delivered a 31% year-over-year increase in silver equivalent production, driven by higher ore purchase volumes, grades and throughput. At the Golden Queen mine in California, production decreased due to mine sequencing and grade timing, though year-to-date all-in sustaining costs of $1,970 per ounce remained within full-year guidance.

During the quarter, Andean repaid $15.0 million on its revolving credit facility, reducing the outstanding balance to $14.5 million, and ended June 30, 2026, with $170.8 million in liquid assets.

Looking ahead, Andean expects to announce an updated technical report for the Golden Queen mine by news release in late September 2026 and continues to progress toward a New York Stock Exchange listing in 2026.

Read the full announcement: Andean Precious Metals Reports Second Quarter 2026 Financial Results