Americas Gold & Silver Corp (USAS) SEC Filings

Americas Gold & Silver Corp (USAS) reports high-grade silver-copper-antimony drill results from its largest-ever exploration and Mineral Resource conversion program at the Galena Complex in Idaho, covering the operating Galena Mine, restart-stage Coeur Mine, and neighboring Crescent Mine.

New in-mine discoveries at Galena include a 49-level vein intercept of 1.2 meters grading 1,061 g/t Ag and 0.7% Cu and discovery of the 9 Vein with 0.4 meters grading 7,123 g/t Ag and 3.24% Cu in an area with no prior vein projections, where roughly 85 meters of drifting and multiple drill bays have now been developed. At Coeur, drilling on the 520 Vein has expanded a 2025 discovery to a zone measuring about 200 meters along strike by 200 meters vertically, which remains open in all directions.

At the fully permitted Crescent Mine, early results from 12 of 45 planned holes include new veins near the Alhambra area, such as 1.1 meters grading 1,109.5 g/t Ag and 1.3 meters grading 1,891.1 g/t Ag. The company highlights these results as upside to future mine planning that was not reflected in its 2025 Mineral Resource and Reserve statement and ties them to a broader multi-asset growth strategy in silver and antimony across U.S. and Mexican operations.

Americas Gold & Silver Corp (USAS) reports high-grade silver-copper drill results from its 2026 resource conversion program at the Cosalá Complex in Mexico, targeting the San Rafael Upper, 120 Upper and 120 Lower deposits. The company states that multiple holes returned substantially higher silver grades than the currently modeled Mineral Resource and that these intercepts were not included in its 2025 Mineral Resource and Reserve statement.

Key results include hole SR583 with a true thickness of 20.5 meters grading 654.7 g/t Ag and 1.5% Cu, located about 30 meters outside the 2025 inferred resource boundary, and hole 120-26-G141 with 14.1 meters grading 409.3 g/t Ag and 0.8% Cu

Americas Gold & Silver states it is preparing an optimized mine plan for the Upper and Lower 120 deposit and anticipates mine development to access this zone in the second half of 2027. The company highlights Cosalá as an important contributor to its broader multi-asset growth strategy focused on silver and antimony production to support AI, electrification, advanced manufacturing and national security applications.

Americas Gold and Silver Corporation (USAS) reports that it has been recognized as a top performer in the 2026 TSX30™, the Toronto Stock Exchange’s annual ranking of the 30 top-performing companies based on dividend-adjusted share price performance over three years. The company ranked 24th, with its share price increasing 477% over the three-year period ended June 30, 2026, and generating $2.2 billion in market capitalization growth on the TSX. Management links this performance to growth in silver production, a strengthened balance sheet and continued investment in its high-grade North American assets, including the Galena Complex in Idaho, the Crescent Silver Mine and the Cosalá Operations in Mexico.

Americas Gold and Silver Corporation reported much stronger results for the three and six months ended June 30, 2026. Revenue rose to $46.3 million in Q2 and $114.1 million year to date, up from $26.9 million and $50.5 million in 2025, driven largely by higher realized metal prices and increased silver-focused production at the Cosalá Operations and Galena Complex.

The company generated net income of $5.0 million year to date, compared with a net loss of $34.7 million a year earlier, and cash from operating activities improved to $47.2 million. Cash and cash equivalents were $88.9 million, down from $129.8 million at year-end, reflecting heavy capital spending of $63.8 million and net financing outflows of $25.4 million.

Balance sheet risk remains elevated. While total liabilities fell to $136.3 million as legacy gold and silver delivery liabilities of $41.0 million and $37.5 million were fully settled, these settlements required issuing over 10.6 million shares and booking significant losses. A senior secured term loan of $48.1 million and other facilities carry financial covenants, some of which required waivers. Management highlights material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern.

Americas Gold and Silver Corporation reported Q2 2026 net revenue of $46 million, up 71% from Q2 2025, and YTD 2026 revenue of $114 million, a 126% increase. Consolidated silver production was 665,000 ounces in the quarter and 1.5 million ounces year-to-date, with silver-equivalent production of about 801,000 ounces in Q2.

Operations were driven by strong performance at Cosalá, where silver output rose 26% to 337,000 ounces and cash costs fell to $16.91 per ounce. At the Galena Complex, Phase 2 of the No. 3 Shaft upgrade was completed, boosting hoisting capacity roughly 150%, though Q2 silver production there declined to 328,000 ounces and cash costs rose to $35.26 per ounce amid a planned shutdown and a minor electrical fire.

The company settled approximately $76 million of variable silver and gold delivery obligations via a mix of metal deliveries and share issuances, simplifying its capital structure and increasing leverage to silver prices. Despite improved margins, Q2 2026 still showed a net loss of $5.0 million, though adjusted EBITDA turned positive at $12.0 million. Management reaffirmed 2026 guidance of 3.2–3.6 million silver ounces at an AISC of $30–$35 per ounce sold.

Americas Gold and Silver Corporation plans to release its second quarter 2026 results and hold a conference call and webcast on August 14, 2026 at 11:00 a.m. Eastern Time. Management will discuss quarterly performance, and a replay will be available by webcast and telephone for one week.

The company describes itself as a rapidly growing North American producer of silver and other critical minerals, with high-grade mining assets in the United States and Mexico. Its flagship Galena Complex in Idaho includes the nation's largest antimony mine, and a 51/49 joint venture is being developed to create a fully integrated domestic antimony supply chain.

Americas Gold and Silver Corporation reported consolidated Q2 2026 production of 664,971 oz of silver, with 624,343 oz sold. Total silver equivalent production was 800,735 oz. Galena and Cosalá contributed similar silver-equivalent volumes, alongside 2.3 million lb of lead, 850,088 lb of copper, and 97,213 lb of antimony. The unaudited consolidated cash balance was US$89 million as of June 30, 2026.

Management noted Q2 silver production was 15% lower than Q1, partly due to an electrical fire at Galena that briefly interrupted production, but said first-half silver output of 1.5 million oz is in line with the 2026 budget. The company continues to target full-year 2026 silver production of 3.2–3.6 million oz at all-in sustaining costs of US$30–US$35 per oz, weighted toward stronger production and lower costs in the second half.

Phase 2 of the No. 3 Shaft modernization at Galena is complete, increasing total hoisting capacity by about 150% and skipping payloads by 40%, with a record 125 skips hoisted over a 12‑hour period in July. During Q2, the company also eliminated over US$85 million in variable future debt obligations tied to metal delivery agreements, which it says enhances leverage to silver prices and supports its growth-focused balance sheet.

Americas Gold and Silver Corporation reported completing Phase 2 of the No. 3 Shaft modernization at the Galena Complex in Idaho. Phase 1 and 2 upgrades have raised hoisting capacity from approximately 42 short tons per hour to as high as 105 stph, with 85 stph achieved regularly, which the company describes as more than doubling historical performance. Phase 2 capital spending was about US$1.1 million.

The upgraded shaft is expected to provide about 1,350 tons per day of hoisting capacity, designed to support planned ore production averaging roughly 650 tons per day by the end of 2026, a ~50% increase. Management also described a minor electrical fire at the Galena Mine and a regional wildfire near the Crescent Mine; both incidents were contained with no injuries, limited operational disruption, and no change to full-year 2026 production guidance, which remains weighted to the second half of the year.

Americas Gold and Silver Corporation held its annual shareholders meeting on June 23, 2026, where 224,051,051 common shares were represented, about 68.53% of outstanding shares. All eight director nominees from the May 14, 2026 circular were elected, with support ranging from 73.44% to 99.60%.

Shareholders also reappointed PricewaterhouseCoopers LLP as independent auditor, with 222,646,661 votes, or 99.37% of votes cast, in favor. Americas Gold & Silver describes itself as a rapidly growing North American mining company producing silver, copper, and antimony from operations in the U.S. and Mexico.