Andean Precious Metals Corp.
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
- Jurisdiction risk score of 4/10 is meaningfully riskier than the peer average of 7/10.
- Financials score of 10/10 is stronger than the peer average of 7.5/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Reached, undated (2004, year precision). San Bartolome's original builder and operator, Coeur d'Alene Mines Corporation, states in its own SEC Form 10-K (fiscal 2005, accession 0000897069-06-000799, read directly this pass): "During 2004, the Company completed an updated feasibility study, obtained all required permits and commenced construction of the San Bartolome mine." That places the permit grant in 2004, before/around the board's 2004-12-15 final go-ahead already on file as this miner's CONSTRUCTION_DECISION. No month or day is disclosed, so achievedDate is left null per the house convention (imprecision about WHEN is carried by achievedDate=null, not by `disputed`). Andean Precious Metals acquired the already-built mine from Coeur in 2018; the permit therefore predates this miner's own ownership, which is why earlier passes recorded it as a checked gap. Mineral rights are held via long-term joint-venture/lease agreements with local mining co-operatives and COMIBOL (same 10-K). Written under Task #692. · Source
- Dec 2004 · Coeur d'Alene Mines Corporation's Board of Directors approved the final go-ahead decision to proceed with construction of the San Bartolome silver project (Potosi, Bolivia) on December 15, 2004, per the company's own SEC Form 8-K (accession 0000950129-04-009941). Coeur d'Alene Mines Corp. was San Bartolome's original builder and operator; Andean Precious Metals Corp. (this miner) acquired the mine from Coeur in 2018 -- same asset-history convention already used for this miner's on-file CONSTRUCTION_START (2006-10, Coeur begins tailings-facility construction) and FIRST_PRODUCTION (2008-06, Coeur achieves commercial production) rows. CAVEAT: sec.gov 403's on every direct fetch attempt (same bot-wall this project has hit before, e.g. Task #612's HL row, Task #614's SVM row); sourced via search-summarized SEC 8-K content, independently corroborated across three separately-worded search queries all converging on the same December 15, 2004 date and the same accession-numbered filing. This resolves a citation gap Task #612 had already identified (same date, same underlying filing) but explicitly declined to write, having found only a bare accession number with no resolvable URL at the time -- this pass located the actual document URLs within that accession. · Source
- Oct 2006 · Coeur d'Alene Mines Corp. (San Bartolome's original builder; Andean Precious Metals acquired the mine from Coeur in 2018) started construction on the $29M tailings facility in October 2006, per contemporary press coverage. Coeur had earlier said it expected a construction decision by Q4 2004 following an October 2004 updated feasibility study and August 2004 OPIC political-risk-insurance approval, but the ~2-year gap to actual construction start (plausibly Bolivia's 2005-2006 political instability) makes that a genuinely uncertain, not merely undated, decision point -- see CONSTRUCTION_DECISION checked-gap. · Source
- Jun 2008 · San Bartolome achieved commercial production in June 2008. Exact day within June not given. · Source
- Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists across two separately-developed, separately-historied assets: San Bartolome (Potosi, Bolivia; built and brought to commercial production by Coeur Mining from June 2008, sold to AG-Mining Investments AB -- Andean's predecessor -- in February 2018) and Golden Queen/Soledad Mountain (Kern County, California; commercial production declared 2016-12-19 by the then-independent Golden Queen Mining Co. Ltd., acquired by Andean Precious Metals on 2023-11-24 for US$66.6M). Each mine reached its own commercial production under an entirely different, unrelated prior owner before consolidation under Andean -- matches the Centerra Gold precedent (batch4). This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · 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.
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 the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
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, listed under the company's own "Operational Leadership" heading. 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.
Eric Sprott, the best-known financier in junior precious metals, WAS a 10%-plus holder here through Sprott Mining Inc. and 2176423 Ontario Ltd., though confirmed selling and share-count dilution since make it uncertain whether that threshold still holds. 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
Golden Queen Mining LLC / Soledad Mountain (Kern County, California, wholly owned) -- APM's flagship by NPV. MR&RE and Feasibility Study Update Technical Report (Kappes, Cassiday & Associates / Independent Mining Consultants / RESPEC / George Klemmick), effective 30 Sep 2023, report dated 12 Jan 2024, announced 31 Jan 2024: NPV5% pre-tax=US$116M, after-tax=US$102M (written to dcfNpvUsd -- after-tax per repo convention); at 8% discount: pre-tax US$102M/after-tax US$89M (dcfNpvUsd10Pct not populated -- no 10%-basis figure disclosed, only 5%/8%). Mine life explicitly stated as 'five years from 2P mineral reserves' (written to mineLifeYears) -- ore stacking concludes 2029, though the release separately notes site work (waste-rock sales for aggregate/construction) is expected to continue 35-40 years, a non-mining activity, correctly not conflated with the mine life. No IRR figure was found in this release or its syndicated coverage -- irrPct left null, checked gap. San Bartolome (Antequera, Bolivia, wholly owned) -- APM's second silver operation, a SEPARATE, smaller, distinct project: 27 Dec 2023 release (technical report by SRK Consulting (U.S.), Inc. filed 6 Feb 2024, effective 1 Dec 2023) states a mine life of 4.6 years from its own 2P reserve (5.08 Mt at 93 g/t Ag, 15.19 Moz Ag contained / 11.95 Moz Ag recoverable) and Measured+Indicated Resources of 6.105 Mt at 98 g/t Ag containing 19.0 Moz Ag -- this M+I figure is written to ouncesFound (San-Bartolome-only; Golden Queen's Au-dominant M&I resource -- 822,000 oz Au M&I per the same Jan 2024 report -- is NOT combined into it, different commodity mix, no disclosed consolidated AuEq/AgEq total found this pass). San Bartolome's own NPV/IRR were not disclosed in any source checked this pass. Per the playbook's multi-project rule, San Bartolome's 4.6-year mine life is NOT written to the shared mineLifeYears field (which carries Golden Queen's complete, single-study 5-year figure instead) -- mixing figures from two distinct studies into what reads as one 'headline study' would misrepresent both. Cerro Bayo (Chile, silver-gold, care-and-maintenance/restart-stage) -- no quantified reserve, resource, or economic study found for this asset this pass; not represented in any field above.
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.