JUNIORMETRICS

Andean Precious Metals Corp.

ANPMF·APM·US$4.06 (CAD 5.71)·US$611.6M cap
Silveralso:San Bartolome Project, Potosi, Bolivia (and Soledad Mountain, California, USA) Map

Andean Precious Metals operates the San Bartolome silver processing facility in Potosi, Bolivia -- its primary production and revenue driver, with record Q1 2026 revenue of US$163.1 million -- alongside the Soledad Mountain gold-silver mine in Kern County, California, giving the company production-stage diversification across two jurisdictions.

Notable vs. Peers

  • Financials score of 10/10 is stronger than the peer average of 6.9/10.
  • Jurisdiction risk score of 4/10 is meaningfully riskier than the peer average of 6.9/10.

Lifecycle Milestones

Grassroots
Resource Def.
PEA
PFS
Feasibility
Permitting
Construction
ProductionCurrent

Construction Milestones

5 of 5 reached
  1. Reached — date not disclosed · Source
  2. Dec 2004 · Source
  3. Oct 2006 · Source
  4. Jun 2008 · Source
  5. Reached — date not disclosed · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

Prior Ownership & Infrastructure
San Bartolome Project, Potosi, Bolivia (and Soledad Mountain, California, USA)
Existing MillRoad AccessGrid Power3 of 4 checked, 3 in place

Not yet determined: tailings facility.

Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.

Combined resource
19.4M oz Ag
Sum of 1 of 2 projects with a disclosed figure
IRR, per project
—
No project has a disclosed IRR yet
Mine life, per project
  • 5.5 yrsSoledad Mountain Project, Kern County, California, USA
Each project's own figure -- independent mine lives are never added or averaged
Combined NPV, by discount-rate basis
$102M
At 5% discount rate -- Soledad Mountain Project, Kern County, California, USA
4.7/10
Weak track recordStrong track record
4.7/10 vs.
10/10
Thin runwayWell-capitalized
10/10 vs.
How this is calculated
4.3/10
Weaker depositStronger deposit
4.3/10 vs.
How this is calculated
6.3/10
Harder place to buildEasier place to build
6.3/10 vs.
What goes into it
  • Jurisdiction (40%)4/10

    Bolivia carries elevated political and regulatory risk, including recurring social unrest, resource-nationalism pressure, and currency/fuel-supply instability, partially offset by APM's decade-plus operating history at San Bartolome and geographic diversification via its Soledad Mountain project in California, USA.

  • Infrastructure (40%)9.3/10

    A confirmed mill, confirmed road access, and confirmed grid power at San Bartolome Project, Potosi, Bolivia (and Soledad Mountain, California, USA); tailings facility not yet researched, counted at a neutral 5/10 until established.

  • Nearby producing mine (20%)Not yet researched

    No producing mine within 50 km in our reference list (nearest listed: Bolivar (Bolivia) (Santacruz Silver Mining Ltd.), 171 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.

6.3/10
Weaker profileStronger profile
6.3/10 vs.
Price Chart
$3.17$6.31$4.92$4.13$4.10AugDecAprJulOct
Aug 12, 2025 – Oct 20, 2026
News
$4.06
+12.1%from low-54.1%from high
$3.62$8.85
See who ↓
47%
Low alignmentHigh alignment
47% vs.
See who ↓
10.9%
Low alignmentHigh alignment
10.9% vs.
$611.6M
Far belowFar above
$611.6M vs. $837M peer median
Price (USD - Local)
US$4.06 (CAD 5.71)
Cash Position (USD)
$204.1M
Far belowFar above
$204.1M vs. $57.3M peer median
Debt (USD)
$44.1M
Far aboveFar below
$44.1M vs. $8.1M peer median
$451.6M
Far belowFar above
$451.6M vs. $755.7M peer median
150.6M
Far aboveFar below
150.6M vs. 291.1M peer median
Jurisdiction
Bolivia
19,370,000 oz
Feeds Deposit Quality score
Indicated19,370,000 oz
Inferrednot scored5,180,000 oz
Total resource24,550,000 oz
Far belowFar above
19.4M oz vs. 50.2M oz peer median
Compares M&I only — Inferred isn't compared or scored.
$23.32/oz
M&I
Total resource (incl. Inferred)$18.40/oz
Peer median $2.90/oz
Far aboveFar below
$23.32/oz vs. $4.55/oz peer median
2.88 oz/tCut-off: San Bartolome (Bolivia), in-situ cutoff -- Resources (Ind+Inf): FDF 47 g/t Ag, Tollojchi 64.3 g/t Ag, Alta Vista 247 g/t Ag, Paca 172 g/t Ag; Reserves (P+P): FDF 50 g/t Ag, Tollojchi 70 g/t Ag, Alta Vista 250 g/t Ag, Paca 180 g/t Ag. Soledad Mountain (California, USA): 0.274 g/t AuEq (Silver Queen zone) / 0.171 g/t AuEq (elsewhere)
Far belowFar above
2.88 oz/t vs. 3.41 oz/t peer median
See projects ↓
See projects ↓
See projects ↓
See projects ↓
$24.00/oz58% below spot ($56.90/oz)2023 study
47%
0%100%
47% vs. 5% peer median
10.9%
0%100%
10.9% vs. 3.3% peer median
171 kmfrom Santacruz Silver Mining Ltd.'s Bolivar (Bolivia)
Outside typical bolt-on range
$100.5M
Far belowFar above
$100.5M vs. $12.6M peer median
$0.667
Far belowFar above
$0.667 vs. $0.072 peer median
6.09x
Far aboveFar below
6.09x vs. 40.51x peer median

Acquisition Susceptibility

How this is calculated
3.2/10
Unlikely bolt-onFits the takeout profile

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.

How this score is built

  • Disclosed pending deal
    Sub-score: Not scored

    No pending acquisition or merger disclosed (checked)

    Not scored: having no deal in flight isn't held against a company.

    Weight 26.25%
  • Producer's strategic stake
    Sub-score: Not scored

    No producer holds a disclosed stake on file (holder register researched) See holders

    Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.

    Weight 25%
  • Distance to a producing mine
    Sub-score:
    1/10

    Nearest producing mine: Bolivar (Bolivia) (Santacruz Silver Mining Ltd.), 171 km

    10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.

    Weight 22.5% · 46% here
  • Lifecycle stage
    Sub-score:
    5.5/10

    Stage: Production

    Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.

    Weight 15% · 31% here
  • Jurisdiction
    Sub-score:
    4/10

    Bolivia: jurisdiction score 4/10

    Our jurisdiction score, used as is: higher means lower political and permitting risk.

    Weight 6.75% · 14% here
  • Commodity
    Sub-score:
    5/10

    Primary commodity: Silver

    Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.

    Weight 4.5% · 9% here

Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.

Overall Score Trend
-10% since 2026-07-30 · -20.3% from peak

Your Rankings

Community Sentiment
—SELLINGBUYING
CategoryCommunityYour Ranking
Overall— (0) 
Management— (0) 
Financials— (0) 
Jurisdiction— (0) 
Project Quality— (0) 

Management Team

Founder, Executive Chairman and Chief Executive Officer of Andean Precious Metals Corp. Over 30 years of experience specializing in M&A, finance and corporate restructurings, having participated individually as co-developer, investor and/or advisor in private equity and venture capital projects across a wide array of sectors including mining, alternative energy, telecommunications, aviation, tourism, financial services and asset management, as well as in the planning, formation, development and consolidation of various start-up business ventures. Holds a bachelor's degree in law from the University of Monterrey and a master's degree in compared law from the New York University School of Law; admitted to the practice of law in Mexico in 1985 and in the State of New York in 1989.

Chief Financial Officer of Andean Precious Metals Corp. More than two decades of experience in banking, finance, accounting and M&A mostly focused on the mining, energy and resource sectors. Career: CFO, upstream business, Perseus (2017-2022, Mexican energy group, non-mining); 17 years at BNP Paribas (2000-2017, a real major global bank), advancing from New York to Paris to Houston on US/Latin American mining, energy and infrastructure transactions, appointed Head of the Houston Structured Debt Team for the Americas in 2014. BA in Accounting, Monterrey Institute of Technology and Higher Education; FINRA-registered.

Chief Operating Officer of Andean Precious Metals Corp. Over three decades of expertise in operational management, strategic planning and safety implementation within the mining industry. Graduated from the Federal University of Pernambuco as a Mine Engineer in 1986 and has held key roles in multinational mining companies, focusing on optimizing mine operations, reducing costs and upholding safety standards, and has led diverse teams in achieving operational excellence across precious metals and aggregates mine operations in the Americas and Africa. Fluent in English, Spanish and Portuguese.

Senior Vice President, Exploration, Operations and Growth of Andean Precious Metals Corp. A mining and investment professional with over 35 years of experience in the precious metals sector, combining geological and exploration expertise with a track record in mine development, operational optimization and capital markets. Has held senior roles at leading global investment firms and financial institutions including Orion Resource Partners, Paulson & Co. and HSBC, developing extensive experience in mine finance, asset optimization, strategic planning and mergers and acquisitions; most recently was Principal at Verum Metalla Advisors advising mining companies on capital markets transactions, strategic initiatives and due diligence processes. Holds a Bachelor of Geological Sciences and a Master of Arts in Energy and Mineral Resource Management from The University of Texas at Austin and is a Chartered Financial Analyst.

Vice President, Special Projects of Andean Precious Metals Corp. Since 1997 has established start-up business management teams and provided executive management services for the steel industry, financial markets, apparel design and manufacture, e-commerce, mining, fintech and education. Worked more than 15 years in senior roles operating US mutual funds as well as Mexican mutual funds and pension funds, was a certified officer of highly regulated financial markets, and has extensive experience as IT Director designing and developing business intelligence structures. Served as CFO of Afore InverCap, one of the largest independent retirement funds administrators in Mexico, for more than five years.

Vice President, Legal and Administration of Andean Precious Metals Corp. Has worked for over 23 years in senior roles for highly regulated companies, specializing in corporate strategy, finance, M&A and project development. Before joining Andean he worked for seven years as General Counsel for Grupo Perseus, a diversified group with operations in Latin America with interests in oil and gas exploration and production, marine field services and midstream projects, and previously for more than ten years as General Counsel of Axtel, S.A.B. de C.V., a publicly traded telecommunications company in Mexico. Holds a Licenciatura en Derecho (J.D. equivalent) from the Universidad de Monterrey.

Corporate Secretary and Vice President, Corporate Governance of Andean Precious Metals Corp. 15 years of experience in corporate governance, corporate finance, corporate restructurings and M&A. Since 2011 has provided executive management services and legal advice in the planning, formation, development and consolidation stages of various start-up business ventures, spanning a wide array of sectors including telecommunications, aviation, tourism, mining, alternative energy, financial services, asset management and fintech. Holds a bachelor's degree in law from the Facultad Libre de Derecho de Monterrey.

President of Manquiri, Andean Precious Metals Corp.'s Bolivian operating entity. Holds a degree in Business Administration, Economics and Public Accounting from the Catholic University of Chile. A member of the Board of the American Chamber of Commerce of Bolivia and a member of the Consultative Council of the Confederation of Private Entrepreneurs of Bolivia; formerly President of the Association of Medium Miners and a Director of Radio Fides and Fundación Nuevo Norte. Has been widely recognized by national and international institutions as a leader in the application of best mining practices in relation to environment, social and business responsibility, receiving more than 20 business and personal awards for his work.

Insiders, Investors & Smart Money

Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.

Smart money
2/10

Eric Sprott, the best-known financier in junior precious metals, holds 12.75% (19,199,622 shares via Sprott Mining Inc. and 2176423 Ontario Ltd.) per the company's May 2026 circular, despite continued selling and share-count dilution since his larger prior position. Those two vehicles sold at least 3.1 million shares between September 2025 and March 2026 (SEDI-confirmed, including 2,580,600 shares at $10.549 on February 27, 2026), and total shares outstanding grew substantially over the same period (helped by a January 2026 C$95.6M secondary offering unrelated to Sprott). They were not alone -- PMB Partners sold 9.1 million shares in a single trade in January 2026, and seven different insiders sold in the last twelve months against three small purchases by junior staff totalling 21,060 shares. A big specialist name on the register, and a register that name has been steadily leaving.

No notable insiders tracked for this miner yet.

Reports, Presentations & Documents

Technical Report Takeaways

Andean Precious Metals operates the San Bartolomé silver processing facility in Potosí, Bolivia, in commercial production since June 2008, and the Soledad Mountain gold-silver mine in Kern County, California, acquired with Golden Queen Mining in November 2023. Silver made up 57% of 2025 revenue and gold 43%, so silver is treated as its primary metal. San Bartolomé holds 19,370,000 oz of silver in indicated resources plus 5,180,000 oz inferred (December 2023 estimate), while Soledad Mountain's gold is reported separately. The January 2024 Soledad Mountain feasibility study update shows an after-tax NPV5% of US$102M over a 5.5-year life at US$1,850/oz gold and US$24/oz silver, and an updated Golden Queen technical report was expected in late September 2026.

AI take

Andean Precious Metals' Q1 2026 financial results (San Bartolome, Bolivia + Soledad Mountain, California): record consolidated quarterly revenue of $163.1M, up 163% year-on-year.