Americas Gold And Silver Corp Stock Price, News & Analysis

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.

Americas Gold and Silver Corporation has announced that its Relief Canyon mine in Nevada has declared commercial production effective January 11, 2020. The first gold was poured in February 2020, and following the return of the radial stacker in December, the mine has met necessary stacking rates. Full production ramp-up is targeted for mid-May 2021. The company’s President & CEO, Darren Blasutti, expressed satisfaction with overcoming challenges faced during commissioning, including the impacts of the COVID-19 pandemic.

Americas Gold and Silver Corporation (USA, USAS) reported a strong Q4-2020 for the Galena Complex, producing approximately 295,000 ounces of silver and 5.8 million pounds of lead, marking over 100% increase on an AgEq basis year-over-year. The company plans to escalate production to 1.8-2.0 million ounces of silver annually by 2022. However, commercial production at the Relief Canyon mine is delayed due to COVID-19 and winter weather, with expectations to commence by mid-January 2021. The recapitalization plan at Galena is ongoing, showcasing positive exploration results and increased mineral resource estimates.

Americas Gold and Silver Corporation (NYSE American: USAS) announced its updated Mineral Reserve and Resource statement as of June 30, 2020. The company reported total contained metal of 610,000 ounces of gold, 30.6 million ounces of silver, and significant amounts of zinc, lead, and copper. Major highlights include a 36% increase in measured and indicated silver resources, from 27.4 million to 37.3 million ounces, and a 101% increase in inferred silver resources, totaling 78.6 million ounces. The company continues drilling to further enhance resources at the Galena Complex and is focused on ramping up production at the Relief Canyon mine.

Americas Gold and Silver Corporation (NYSE American: USAS) has announced positive updates regarding the Relief Canyon mine's ramp-up towards commercial production. Following the first ore placement on August 4, 2020, the leach solution grade has significantly increased. The company aims for commercial production by Q4-2020, working to optimize operational practices and costs. A temporary stacker currently processes 8,000 tonnes per day with a return to a 16,000 tonnes per day capacity expected by mid-Q4-2020. Overall, progress aligns with expectations for enhanced gold production.

Americas Gold and Silver Corporation (NYSE: USAS) has announced an increased public offering of common shares, elevating proceeds from C$25 million to C$35 million. The offering includes 9,067,400 shares priced at C$3.86 each, scheduled to close on September 4, 2020, pending regulatory approvals. Proceeds will fund exploration and development of existing mines, particularly the Relief Canyon project, alongside general corporate purposes. An Over-Allotment Option allows underwriters to purchase an additional 15% of shares to cover over-allocations.