Andean Precious Metals (APM:TSX)

  • Andean Precious Metals is generating growing cash flows from its San Bartolomé processing plant in Bolivia and Golden Queen mine in California.

  • APM has an excellent balance sheet, with $27M in net cash, allowing the Company to pursue organic growth, M&A, and share buybacks.

  • APM is tightly held, with its CEO owning 53% and Eric Sprott owning 15%.

  • APM trades at 2.2x/1.9x 2024E/2025E EBITDA, a discount to its peers.  

Investment Summary

Company Description

Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Golden Queen mine in Kern County, California, and is well-funded to act on future growth opportunities. APM’s leadership team is committed to creating value; fostering safe, sustainable operations; and achieving its ambition to be a multi-asset, mid-tier producer.

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