Despite record earnings, PanAm Silver production stumbled during Q1

In spite of declines in silver, gold and zinc production during the first quarter of the year, Pan American Silver said Wednesday management “continues to believe in the accuracy of its forecast 2011 production.”

Silver production for the first quarter was 5.3 million ounces, a 6% decrease below management’s forecast “due primarily to throughput and grade challenges at Huaron, Morocochoa, San Vincente and Manantial Espejo during the quarter,” PanAm said.