Americas Gold And Silver Corp Stock Price, News & Analysis

Americas Gold and Silver (TSX:USA; NYSE American: USAS) announced the results of its special meeting held on December 17, 2024. Shareholders approved several significant share issuances, including 117,270,000 common shares to Sprott Mining and 52,730,000 common shares to Sprott Preferred Sellers. Additionally, they authorized the issuance of 125,000,000 common shares through subscription receipts at C$0.40 per receipt, and 682,850 shares to Edgehill Advisory The total authorized issuance of 305,682,850 common shares represents a dilution exceeding 25% of current outstanding shares. The meeting saw participation from 86,059,017 shares, representing 31.07% of total outstanding shares.

Americas Gold and Silver (TSX: USA) (NYSE American: USAS) has announced the filing and mailing of Meeting Materials for a special shareholders meeting on December 17, 2024, regarding the proposed acquisition of the remaining 40% interest in the Galena Complex. Due to a Canada Post labour strike, shareholders may face delays in receiving materials before the December 13, 2024 voting deadline. Shareholders can access materials through SEDAR+ or contact Carson Proxy Advisors. The company encourages early voting and provides multiple channels for material access and voting assistance.

Americas Gold and Silver reports Q3-2024 results with revenue increasing 31% to $21.0 million compared to Q3-2023, driven by higher realized silver prices of $29.71/oz. The company reported a net loss of $16.1 million, wider than Q3-2023's $10.5 million loss. Production reached 0.4 million ounces of silver and 0.9 million ounces of silver equivalent. The company announced an agreement to acquire the remaining 40% of Galena Complex and completed a C$50 million private placement. Paul Andre Huet will be appointed CEO effective November 11, 2024, focusing on unlocking Galena Complex's value.

Americas Gold and Silver has completed its upsized 'bought deal' private placement of subscription receipts, raising C$50 million by issuing 125,000,000 subscription receipts at C$0.40 each. The proceeds will fund the acquisition of the remaining 40% interest in the Galena Complex in Idaho, growth initiatives, debt repayment, and working capital. Each subscription receipt converts to one common share upon meeting escrow release conditions, including acquisition closing approvals. The transaction, expected to close by year-end, is subject to shareholder and exchange approvals.

Americas Gold and Silver (TSX: USA) (NYSE American: USAS) has upsized its previously announced private placement of subscription receipts to C$45 million. The company will now issue 112,500,000 Subscription Receipts at C$0.40 per receipt. An additional option to purchase up to 12,500,000 Subscription Receipts could increase the total gross proceeds to C$50 million.

The proceeds will be used for growth initiatives at the Galena Complex, payment of cash consideration to Sprott, repayment of existing debt, and working capital. The offering is expected to close around October 30, 2024, subject to regulatory approvals. Each Subscription Receipt will entitle the holder to one common share of Americas upon satisfaction of certain conditions related to the acquisition of the remaining 40% interest in the Galena Complex.

Americas Gold and Silver has announced a binding agreement to acquire the remaining 40% interest in the Galena Complex in Idaho, USA, consolidating the current joint venture. Key highlights include:

1. Paul Andre Huet will be appointed Chairman and CEO upon closing.
2. A bought deal private placement financing of subscription receipts to raise C$40 million at C$0.40 per receipt.
3. Advanced discussions for debt refinancing to restructure the company's balance sheet.
4. Consolidation of Galena, a major silver mine in North America.
5. Eric Sprott to become the largest shareholder.
6. Enhanced leverage to silver, with 80% of revenue expected from silver by H2 2025.

The transaction is subject to shareholder and regulatory approvals, with closing expected by the end of the year.

Americas Gold and Silver (TSX: USA) (NYSE American: USAS) reports consolidated financial and operational results for Q2-2024. Highlights include:

• Consolidated revenue increased 62% to $31.6 million
• Positive EBITDA of $11.1 million and net income of $4.4 million from combined Cosalá and Galena operations
• Consolidated attributable silver production of 0.51 million ounces
• Significant reduction in cash costs to $12.42/oz silver and AISC to $19.58/oz silver
• Record quarterly production at Galena Complex since 2013
• $15 million secured Credit and Offtake Agreement signed for EC120 Project at Cosalá Operations

The company aims to generate over 80% of its revenue from silver production by the end of 2025.

Americas Gold and Silver (TSX: USA) (NYSE American: USAS) has signed a Credit and Off-Take Agreement with Trafigura PTE for the development of the EC120 Project at its Cosalá Operations in Mexico. The agreement provides a secured credit facility of up to $15 million, with an initial draw of $10 million expected. The project aims to begin producing high-grade silver-copper concentrate in Q3-2025.

Key highlights include:

• Projected annual production of 2.5 million ounces of silver and 4.5 million pounds of copper
• Estimated cash cost of $9.61/oz and all-in sustaining cost of $10.81/oz
• Expected to increase the Company's silver-derived revenue to over 80% by end of 2025
• Commercial production estimated to start in Q3-2025
• Credit facility terms: 36-month term, SOFR plus 6-6.5% interest rate, 12-month grace period

Americas Gold and Silver (NYSE American: USAS) reported Q2-2024 production results, highlighting a consolidated attributable silver production of 0.51 million ounces, up from 0.48 million ounces in Q1-2024. The company also produced 8.9 million attributable pounds of zinc and 4.4 million attributable pounds of lead.

Key highlights include:

• Galena Complex achieved its highest quarterly production since 2013, with 560,000 ounces of silver (100% basis).
• Cosalá Operations produced 170,000 ounces of silver, 8.9 million pounds of zinc, and 2.6 million pounds of lead.
• Preliminary cash costs decreased by ~40% to $12.40 per silver ounce, while all-in sustaining costs (AISC) dropped by ~35% to $19.60 per silver ounce.
• The company is finalizing a non-dilutive financing agreement for its EC120 Project, aiming to commence higher-grade silver-copper production in early 2025.