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 Q2-2020 financial results with revenue of $4.6 million and a net loss of $10.8 million or ($0.09) per share. Ongoing illegal blockades affected operations at Cosalá and the Galena Complex recapitalization. However, the blockade has been resolved, and operations are expected to resume by September 2020. The company anticipates silver production could increase to 2.5-3.0 million ounces annually starting in 2022 due to higher silver prices and access to higher-grade ores. A cash balance of $16.9 million was reported as of June 30, 2020.
Americas Gold and Silver Corporation (USAS) announced significant drilling results from its Galena Complex, revealing high-grade silver and copper intercepts. Key findings include drill hole 55-125, which reported 2,381 g/t silver and 1.7% copper over 1.8 meters. The successful Recapitalization Plan aims to enhance production and reduce costs amidst rising silver prices, which have increased from US$12/oz to over US$26/oz since March 2020. The exploration budget allocates 39,000 meters of drilling, with over 13,000 meters completed. The company anticipates further updates in September 2020.