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 (USAS) generates frequent news as a North American precious metals and critical metals producer with operating mines in the United States and Mexico. Company announcements cover production results, mine development, acquisitions and technical milestones across its key assets, including the Galena Complex in Idaho’s Silver Valley, the Cosalá Operations in Sinaloa, Mexico, and the Crescent Silver Mine in Idaho.
Investors following USAS news can expect detailed quarterly production and financial updates, where the company reports consolidated silver output, by-product metals such as copper, antimony and lead, and commentary on operating costs and capital investments. These releases often highlight operational improvements, such as increased hoisting capacity at Galena’s No. 3 Shaft, transitions into higher-grade zones like the EC120 Project at Cosalá, and the impact of new mining equipment and development work.
News flow also includes exploration results and technical developments. At Galena, the company has reported high-grade drill intercepts from veins such as the 149 Vein, as well as metallurgical breakthroughs demonstrating over 99% antimony extraction from copper concentrates. These updates provide context on resource potential, ore characteristics and the company’s efforts to unlock additional value from tetrahedrite ore.
Corporate and strategic news items cover transactions and growth initiatives, including the acquisition of the fully permitted, past-producing Crescent Silver Mine, the earlier move to 100% ownership of the Galena Complex, share consolidation actions and financing activities. Releases also describe engagement with the U.S. Government on antimony processing initiatives and the company’s positioning as the only producing antimony mine in the United States.
By reviewing the USAS news page, readers can track how Americas Gold and Silver executes its strategy to increase silver production, expand antimony output and optimize its North American asset base. Regular updates provide insight into operational progress, technical work, regulatory filings furnished on Form 6-K and the evolution of its multi-asset mining platform.
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.
Americas Gold and Silver Corporation (USAS) announced a bought-deal financing agreement with underwriters to sell 6,477,000 common shares at C$3.86 per share, generating gross proceeds of C$25 million. The proceeds will be allocated toward the exploration and development of the company's mine properties, particularly advancing the Relief Canyon project to commercial production. The offering is expected to close around September 4, 2020, pending regulatory approvals. Additionally, the underwriters have an option to purchase an additional 15% of shares to stabilize the market during this process.
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.