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 (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.
Americas Gold and Silver (TSX:USA; NYSE American: USAS) announced the election of directors at its annual meeting on June 25, 2024. Nominees Darren Blasutti, Christine Carson, Alex Davidson, Alan Edwards, Bradley Kipp, Gordon Pridham, Manuel Rivera, and Lorie Waisberg were elected with varying approval rates, the highest being 94.17% for Alan Edwards.
Shareholders also approved PricewaterhouseCoopers LLP as auditors and authorized directors to fix their remuneration. Additionally, a resolution was passed to issue up to 27,500,000 common shares upon retraction of Convertible Debentures, exceeding 25% of outstanding shares as of June 12, 2023. A total of 108,292,557 common shares, representing 43.14% of the total shares, were voted.
Americas Gold and Silver reported Q1-2024 results with a 12% revenue drop to $19.5 million, attributed to lower zinc prices and reduced silver and lead production from their Galena Complex. The company posted a net loss of $16.2 million, an increase of $5.7 million year-over-year. Silver production was down slightly to 0.48 million ounces, while zinc and lead production saw marginal changes. The Cosalá Operations showed strong silver production, benefiting from above-budgeted grades and recoveries. The Galena Complex faced lower production due to developmental focus but expects increased output in subsequent quarters. Cash costs rose significantly due to higher costs of sales and lower metal prices. The company's strategic focus includes developing the EC120 Project to produce high-grade silver-copper concentrates by early 2025.
Americas Gold and Silver provided its Q1-2024 production results, showcasing a consolidated attributable silver production of 0.48 million ounces. The company also announced the appointment of Jim Currie as Chief Operating Officer. Despite a slight decrease in silver production compared to the previous year, positive trends are expected to continue with upcoming projects. Currie's vast mining experience is anticipated to enhance production and profitability at the Galena Complex. The Company is in the final stages of securing financing for the EC120 Project, aiming to commence higher-grade silver-copper concentrate production in early 2025.
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