Welcome to our dedicated page for Americas Gold And Silver news (Ticker: USAS), a resource for investors and traders seeking the latest updates and insights on Americas Gold And Silver stock.
Americas Gold and Silver Corporation reports developments from its North American mining operations, where it produces silver, copper, lead and antimony in the United States and Mexico. Recurring updates cover operating and financial results, silver production and concentrate sales, metal by-product output, safety milestones, and conference-call notices tied to quarterly and annual reporting.
Company news also centers on exploration and mine-development activity at the Galena Complex in Idaho and the Cosalá Operations in Mexico, including high-grade silver-copper-antimony and silver-lead vein discoveries, drilling programs, mineral resource and reserve updates, and infrastructure work around existing mine workings. Coverage may also include capital-structure and market-index developments for USAS shares.
Americas Gold and Silver Corporation (USAS) reported Q2-2021 results, showing revenue of $9.5 million and a net loss of $17.8 million. The company anticipates full capacity at Cosalá Operations by Q4-2021 following a reopening agreement with Mexican authorities. Silver production increased 20% year-over-year at Galena Complex. However, mining operations at Relief Canyon have been temporarily suspended to reallocate resources to Cosalá. The company is optimistic about future resource updates, expecting to significantly improve profitability and cash flow due to rising silver prices.
Americas Gold and Silver Corporation has announced plans to reopen its Cosalá Operations following an agreement with the Mexican government signed on July 6, 2021. Recent inspections show that the mine and mill are in good condition, with local management finalizing a restart plan. Government inspectors are expected to review the plans this week, leading to potential employee recalls. The company anticipates full operational capacity by Q4 2021, targeting over 2.5 million ounces of silver production annually and leveraging high silver prices to enhance operations.
Americas Gold and Silver Corporation (USAS) has released an exploration update for the Galena Complex. The Phase 1 drilling is completed, revealing high-grade mineralization with significant results, such as 3,345 g/t silver in Hole 55-183. The company targets an additional 50 million ounces of silver from the upcoming Phase 2 drilling program, expected to commence in Q3-2021. However, the company faces a proposed class action lawsuit seeking damages of C$130 million related to disclosures concerning its Relief Canyon mine. An updated mineral resource estimate is expected by the end of August 2021.
Americas Gold and Silver Corporation (NYSE American: USAS) has signed an agreement with Mexican government ministries to reopen the Cosalá Operations, which had been closed for over 17 months due to illegal blockades. The agreement provides immediate possession rights and involves a joint inspection by the Ministry of Labor. The company anticipates that production from the Cosalá Operations could exceed 2.5 million ounces of silver annually, leveraging current high silver prices. Additionally, exploration efforts at the Galena Complex aim to reach peak production levels of approximately 5 million ounces per year.
Americas Gold and Silver Corporation (NYSE American: USAS) announced that shareholders voted in favor of all items, including the election of nominees at the annual meeting held on June 10, 2021. The results showed significant support for the nominees, with votes for Alex Davidson at 78.97%, Darren Blasutti at 86.36%, and Alan Edwards at 85.96%. The company continues to operate key assets including the Relief Canyon mine and Cosalá Operations. Further details can be found on the company's website.
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Americas Gold and Silver Corporation (USAS) reported a Q1 2021 revenue of $10.2 million but faced a net loss of $91.8 million, primarily due to a $55.6 million impairment charge and a $23.0 million inventory write-down. The company is transitioning to run-of-mine heap leaching at Relief Canyon to enhance project economics. They anticipate resolving the illegal blockade at Cosalá Operations, with a target to resume full production in Q3 2021. Noteworthy exploration success at the Galena Complex has yielded high-grade mineral intercepts, boosting silver production prospects.
Americas Gold and Silver Corporation (USAS) has issued a C$12.5 million senior secured convertible debenture with an 8% interest rate, maturing April 28, 2024. The debenture is secured by the Galena Complex and one of its Mexican subsidiaries. Holders can convert it into common shares at C$3.35 each. Proceeds will support the re-opening of Cosalá Operations, pay down short-term debts, and provide working capital. A detailed corporate update is expected by May 15, 2021, covering operational plans and drilling results.
Americas Gold and Silver Corporation (TSX: USA, NYSE American: USAS) announced its financial results for 2020, reporting revenues of $27.9 million and a net loss of $30.1 million (loss of $0.24 per share). The illegal blockade at the Cosalá Operations and the implementation of a Recapitalization Plan hindered operations. Despite challenges, the Galena Complex saw a production increase of over 70% in Q4-2020, producing 294,000 ounces of silver. The Company remains optimistic about the resolution of the blockade and plans to ramp up production at the Relief Canyon mine by Q2-2021.
Americas Gold and Silver Corporation has successfully closed an upsized bought deal financing, generating aggregate gross proceeds of C$33,937,854 through the sale of 10,253,128 common shares at C$3.31 each. The proceeds will fund working capital for the Relief Canyon mine, development at the 60%-owned Galena Complex, care for the Cosalá Operations, and debt repayment. The offering adheres to a short form prospectus filed in Canada, excluding Quebec, and is not registered under U.S. securities laws, limiting its sale in the U.S.