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Andean Precious Metals Reports Strong Second Quarter Toronto , Ontario -- ( Newsfile Corp. - August 24 , 2021 ) - Andean Precious Metals Corp. ( TSXV : APM ) ( " Andean " or the " Company " ) , a Latin - American focused , precious metals production and exploration company , today reported its operational and financial results for the second quarter ended June 30 , 2021. All amounts are expressed in U.S. dollars unless indicated otherwise . Q2 2021 Highlights • Revenues of $ 38.0 million , an increase of $ 25.4 million compared to Q2 2020 ; • Adjusted earnings before interest , taxes , depreciation and amortization ( " Adjusted EBITDA " ) ( 1 ) of $ 10.3 million , an increase of $ 8.1 million compared to Q2 2020 ; • Net income of $ 3.9 million ; • Free cash flow ( 1,2 ) of $ 10.3 million ; • Ending cash balance of $ 79.0 million , compared to $ 38.5 million as at December 31 , 2020 ; • Silver equivalent production ( 3 ) of 1.4 million ounces and sales of 1.3 million ounces at an all - in sustaining cost of $ 18.97 per ounce of silver . Luis da Silva , the Company's President and CEO , stated , " Our strong financial results continue to enhance Andean's treasury position whilst maintaining a clean capital structure . During such time as we review sector diversification opportunities , we shall build on our strong cash position , which is rather unique among junior producers . For the second half of 2021 , we will continue to advance our exploration program and the evaluation of the tailings reprocessing opportunity at the San Bartolomé plant . " Operational and Financial Results Financial Performance ( 4 ) Revenue Cost of sales Income from mine operations Net income ( loss ) Operating cash flow Free cash flow ( 1,2 ) Adjusted EBITDA ( 1 ) Ending cash and cash equivalents Capital expenditures Cash operating costs ( " COC " ) ( 1 ) All - in sustaining costs ( " AISC " ) ( 1 ) Q2 2021 Q2 2020 38.0 $ 12.6 24.4 $ 7.6 11.3 $ 2.9 3.9 $ ( 0.3 ) 11.4 $ ( 0.1 ) 10.3 $ ( 0.2 ) 10.3 $ 2.2 79.0 $ 9.4 1.1 $ 0.2 16.47 $ 13.35 $ 18.97 $ 15.65 SA SA SA SA SA SA AAAAAAAAAA Revenue for the second quarter of 2021 was $ 38.0 million compared to $ 12.6 million in the second quarter of 2020. Revenue growth was driven by a year - over - year increase in silver equivalent sales volumes of 92 % to 1.4 million silver equivalent ounces and higher realized prices of $ 26.71 per ounce of silver in the second quarter of 2021 compared with $ 17.00 per ounce of silver for the second quarter of 2020. Cost of sales , including direct costs and mining royalty taxes , were $ 24.4 million compared to $ 7.6 million in the second quarter of 2020 , corresponding to the increase in sales . As a result , income from mine operations increased to $ 11.3 million from $ 2.9 million in the first quarter of 2020 .