Key Takeaways Pan American Silver produced 22.8 Moz of silver in 2025, up 8% y/y, with a record 7.3 Moz in Q4.At Pan American Silver, Juanicipio added 2.5 Moz since acquisition, helping drive record Q4 silver output.PAAS ended 2025 with $1.32B in cash and$2.07B of total liquidity, strengthening its balance sheet.Pan American Silver Corp. (PAAS) produced 22.8 million ounces of silver in 2025, up 8% from 2024. The consolidated silver production came within PAAS's expected 22-25 million ounces for the year. P ...