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 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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