Andean Precious Metals, record-breaking first quarter performance in history... Advancing towards listing on the New York Stock Exchange

Andean Precious Metals (Andean Precious Metals, OTCQX: ANPMF, TSX: APM) achieved its “highest ever” performance in the first quarter of 2026, continuing its growth momentum. Revenue was $163.1 million, a 163% year-over-year increase, net profit was $48.2 million, and diluted earnings per share were $0.32. In Korean won, revenue is approximately 243.4 billion KRW, and net profit is about 71.9 billion KRW.

The company also announced an adjusted EBITDA of $71 million, free cash flow of $39.6 million, and current assets of $204.1 million. These figures are roughly equivalent to 105.9 billion KRW, 59.1 billion KRW, and 304.6 billion KRW, respectively. Production, measured in gold equivalent, increased to 27,344 ounces, supported by improved profitability at the San Bartolomé mine and a decline in all-in sustaining costs (AISC) at the Golden Queen mine.

This performance was foreshadowed earlier in the year. The company previously stated that 2026 had started strongly, with gold equivalent production up 28% year-over-year. Notably at San Bartolomé, grade increased by 25%, and processing volume also rose. The company explained that it held about $167 million in cash and announced plans to release its first-quarter results on May 12 and hold a conference call on May 13. Management expects, given strong metal prices and increased production, to deliver a robust quarterly performance.

The positive results are underpinned by production improvements and cost management

Andean Precious Metals’ recent trajectory was confirmed by its record-breaking 2025 annual results. In 2025, the company posted revenue of $359.8 million, adjusted EBITDA of $133.7 million, and net profit of $118.2 million. Current assets reached a record high of $166.8 million. The annual consolidated production was 99,165 ounces of gold equivalent, near the lower end of guidance, supported by high metal prices and operational efficiency.

In Q4 2025, production was 27,777 ounces of gold equivalent. The company set guidance for 2026 of 100k to 114k ounces of gold equivalent, with gold production expected to be 46k to 54k ounces and silver production estimated at 4.6 to 5.1 million ounces. Total capital expenditures (CAPEX) were forecasted between $38 million and $54 million.

On the cost side, financial health also improved notably. In November 2025, the company signed a new revolving credit facility of $40 million with the Bank of Canada. The facility is structured to reduce to $30 million after one year, with a two-year term and an interest rate of SOFR plus 4.25 percentage points. Meanwhile, the company repaid existing loans of $36.1 million from CommerceWest and $25 million from Banco Santander International, simplifying its capital structure. This move is seen as aimed at increasing future growth investments and financial flexibility during the listing process.

Advancing NYSE listing and inclusion in GDXJ to expand investor base

Andean Precious Metals is not stopping at performance improvements but is accelerating its efforts to expand its capital markets presence. The company has officially committed to listing its common shares on the New York Stock Exchange (NYSE) and has initiated the relevant regulatory and administrative procedures. Until approved, it will continue trading on the Toronto Stock Exchange under the current ticker APM, with the NYSE ticker to be announced upon approval.

The company aims to broaden its investor base, increase liquidity, and enhance visibility among North American institutional investors. Additionally, increasing free float through a non-dilutive secondary offering is also viewed as a way to improve market accessibility.

The supply-demand landscape is also shifting. After market close on March 20, 2026, Andean Precious Metals was included in the VanEck Junior Gold Miners ETF (GDXJ). This inclusion, part of quarterly rebalancing, reflects the company’s growth prospects, increased free float, and elevated status within the precious metals sector. Being part of GDXJ enhances accessibility for institutional and retail investors, which is seen as positive for trading volume and market recognition.

Leadership changes and new talent recruitment underway

Organizational restructuring is also in progress. The company announced that President and Director Yohann Bouchard will resign effective March 31, 2026. After mutual consultation, the company and Bouchard agreed to part ways, with him continuing in a consulting role in the short term to support the transition. The company expressed gratitude for his contributions.

Meanwhile, new talent has been brought in to strengthen growth strategies. On April 20, 2026, Andean Precious Metals appointed Victor Flores as Senior Vice President of Exploration, Operations, and Growth. Flores brings over 35 years of experience in mining, geology, and mining finance, most recently serving as a mining advisor at Verum Metal Advisors.

He has held senior roles at Orion Resource Partners, Paulson & Co., HSBC, and holds a Bachelor’s degree in Geological Sciences and a Master’s in Energy and Mineral Resources Management from the University of Texas at Austin. He also holds the CFA designation. The company states that his career supports both organic growth and inorganic growth through acquisitions.

Market interpretation: Highlighting a mid-tier mining stock with “performance, financials, and listing” three major positives

Andean Precious Metals has recently announced quarterly and annual results, financial restructuring, leadership changes, progress toward NYSE listing, and inclusion in GDXJ, continuously enhancing its market presence. Particularly, the combination of production growth, cost stability, and strong metal prices is rapidly improving its cash generation capacity, which is key.

However, future valuation will depend on whether the company can meet its 2026 annual production guidance, whether profitability at San Bartolomé and Golden Queen can be sustained, and whether the NYSE listing proceeds as planned. Based on current trends, Andean Precious Metals appears to be moving beyond a “performance-improving precious metals producer” to a growth story focused on expanding North American investor engagement.

TP AI note: TokenPost.ai has summarized this article based on language models. The main content may be incomplete or inconsistent with facts.