Welcome to our dedicated page for Americas Gold and Silver Corporation news (Ticker: USAS), a resource for investors and traders seeking the latest updates and insights on Americas Gold and Silver Corporation stock.
Americas Gold and Silver Corporation (symbol: USAS) is a premier Canadian-based junior silver and gold producer with a robust presence in the Americas. The company specializes in the acquisition, exploration, development, and production of precious metals, operating primarily in Mexico and the United States. Their key operating assets include The Cosala Operations in Mexico, The Galena Complex in Idaho, and the Relief Canyon Mine in Nevada. Additionally, the company has sizeable interests in the San Felipe Development Project situated in Sonora, Mexico.
In 2017, Americas Gold and Silver was poised to achieve a silver production target ranging from 2.0 to 2.5 million ounces and silver equivalent production between 5.0 to 5.5 million ounces. They aimed to maintain competitive silver cash costs at approximately US$5.00 per ounce and all-in sustaining costs around US$10.00 per ounce. With the successful transition to full production at the San Rafael Mine, the company projected its position as one of the lowest-cost silver producers globally by 2018.
Americas Gold and Silver's strategic focus in the Western Hemisphere and commitment to operational efficiency have established it as a significant player in the mining sector. The company continues to leverage its strong operating platform and diversified asset base to drive growth and shareholder value. Recent achievements include significant advancements at their key projects, bolstering production capabilities and enhancing their financial condition through sound management and strategic partnerships.
Latest News:
- Expansion of the Relief Canyon Mine operations, improving production efficiency and output.
- Successful resource exploration at The Galena Complex, revealing higher-than-expected mineral reserves.
- Ongoing development and future projections for the San Felipe Project in Sonora, Mexico.
Investors and stakeholders can expect continued growth and operational excellence from Americas Gold and Silver Corporation, reinforcing its robust position in the precious metals market.
Americas Gold and Silver has completed the acquisition of the remaining 40% interest in the Galena Complex in Idaho from Eric Sprott's affiliate. The transaction terms include:
- 169,999,998 common shares issued to Sprott's affiliates
- US$10 million cash payment
- Monthly silver deliveries of 18,500 ounces for 36 months starting January 2026
- Total of 294,999,998 company shares issued, including 125,000,000 subscription receipts at C$50 million
The company has also reconstituted its board of directors with 50% new members, including Paul Huet as Chairman & CEO. Eric Sprott now owns approximately 20.3% of the company's outstanding shares following the transaction.
Americas Gold and Silver (TSX:USA; NYSE American: USAS) announced the results of its special meeting held on December 17, 2024. Shareholders approved several significant share issuances, including 117,270,000 common shares to Sprott Mining and 52,730,000 common shares to Sprott Preferred Sellers. Additionally, they authorized the issuance of 125,000,000 common shares through subscription receipts at C$0.40 per receipt, and 682,850 shares to Edgehill Advisory The total authorized issuance of 305,682,850 common shares represents a dilution exceeding 25% of current outstanding shares. The meeting saw participation from 86,059,017 shares, representing 31.07% of total outstanding shares.
Americas Gold and Silver (TSX: USA) (NYSE American: USAS) has announced the filing and mailing of Meeting Materials for a special shareholders meeting on December 17, 2024, regarding the proposed acquisition of the remaining 40% interest in the Galena Complex. Due to a Canada Post labour strike, shareholders may face delays in receiving materials before the December 13, 2024 voting deadline. Shareholders can access materials through SEDAR+ or contact Carson Proxy Advisors. The company encourages early voting and provides multiple channels for material access and voting assistance.
Americas Gold and Silver reports Q3-2024 results with revenue increasing 31% to $21.0 million compared to Q3-2023, driven by higher realized silver prices of $29.71/oz. The company reported a net loss of $16.1 million, wider than Q3-2023's $10.5 million loss. Production reached 0.4 million ounces of silver and 0.9 million ounces of silver equivalent. The company announced an agreement to acquire the remaining 40% of Galena Complex and completed a C$50 million private placement. Paul Andre Huet will be appointed CEO effective November 11, 2024, focusing on unlocking Galena Complex's value.
Americas Gold and Silver has completed its upsized 'bought deal' private placement of subscription receipts, raising C$50 million by issuing 125,000,000 subscription receipts at C$0.40 each. The proceeds will fund the acquisition of the remaining 40% interest in the Galena Complex in Idaho, growth initiatives, debt repayment, and working capital. Each subscription receipt converts to one common share upon meeting escrow release conditions, including acquisition closing approvals. The transaction, expected to close by year-end, is subject to shareholder and exchange approvals.
Americas Gold and Silver (TSX: USA) (NYSE American: USAS) has upsized its previously announced private placement of subscription receipts to C$45 million. The company will now issue 112,500,000 Subscription Receipts at C$0.40 per receipt. An additional option to purchase up to 12,500,000 Subscription Receipts could increase the total gross proceeds to C$50 million.
The proceeds will be used for growth initiatives at the Galena Complex, payment of cash consideration to Sprott, repayment of existing debt, and working capital. The offering is expected to close around October 30, 2024, subject to regulatory approvals. Each Subscription Receipt will entitle the holder to one common share of Americas upon satisfaction of certain conditions related to the acquisition of the remaining 40% interest in the Galena Complex.
Americas Gold and Silver has announced a binding agreement to acquire the remaining 40% interest in the Galena Complex in Idaho, USA, consolidating the current joint venture. Key highlights include:
1. Paul Andre Huet will be appointed Chairman and CEO upon closing.
2. A bought deal private placement financing of subscription receipts to raise C$40 million at C$0.40 per receipt.
3. Advanced discussions for debt refinancing to restructure the company's balance sheet.
4. Consolidation of Galena, a major silver mine in North America.
5. Eric Sprott to become the largest shareholder.
6. Enhanced leverage to silver, with 80% of revenue expected from silver by H2 2025.
The transaction is subject to shareholder and regulatory approvals, with closing expected by the end of the year.
Americas Gold and Silver (TSX: USA) (NYSE American: USAS) reports consolidated financial and operational results for Q2-2024. Highlights include:
- Consolidated revenue increased 62% to $31.6 million
- Positive EBITDA of $11.1 million and net income of $4.4 million from combined Cosalá and Galena operations
- Consolidated attributable silver production of 0.51 million ounces
- Significant reduction in cash costs to $12.42/oz silver and AISC to $19.58/oz silver
- Record quarterly production at Galena Complex since 2013
- $15 million secured Credit and Offtake Agreement signed for EC120 Project at Cosalá Operations
The company aims to generate over 80% of its revenue from silver production by the end of 2025.
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.
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