Pan American Silver Corp. (TSX:PAA) has reported a 47% increase in first-quarter net income to US$30.2 million compared with the Vancouver-based company's previous first quarter.
Quarterly sales jumped 126% to US$108.8 million and silver production increased 36% to 4.5 million ounces.
Pan American also announced changes to the company's senior management:
Steven Busby has been appointed chief operating officer;
Andres Dasso will replace Andrew Pooler as senior vice-president of mining operations after Pooler resigned to pursue other career interests; and
Joe Phillips has been appointed senior vice-president of project development.
Pan American, which has mines in Bolivia, Peru and Mexico, focuses on silver production. It also produces gold, zinc, lead and copper.
Pan American's share price range during the past week: between $34.33 and $35.06; 52-week high: $43.66; 52-week low: $22.44.