Americas Gold and Silver Announces Full-Year 2024 Results Ahead of a Transformational Year Underway in 2025
Americas Gold and Silver (NYSE: USAS) reported its full-year 2024 financial results, highlighting increased revenue of $100.2 million, up 5% from 2023's $95.2 million. The company produced 1.7 million ounces of silver and approximately 3.7 million ounces of silver equivalent, including 31.5 million pounds of zinc and 15.8 million pounds of lead.
Key developments include acquiring 100% ownership of the Galena Complex through Eric Sprott's 40% interest acquisition and completing a C$50 million private placement. The company appointed Paul Andre Huet as CEO and Chairman, focusing on unlocking value at Galena Complex and Cosalá Operations.
Financial metrics show a net loss of $48.9 million for 2024, with cash costs at $17.41 and all-in sustaining costs at $28.13 per silver ounce. The company secured a $15 million Credit and Offtake Agreement with Trafigura for the EC120 Project at Cosalá Operations, targeting higher-grade silver-copper concentrate production in Q3-2025.
Americas Gold and Silver (NYSE: USAS) ha riportato i risultati finanziari per l'intero anno 2024, evidenziando un aumento del fatturato a 100,2 milioni di dollari, in crescita del 5% rispetto ai 95,2 milioni di dollari del 2023. L'azienda ha prodotto 1,7 milioni di once d'argento e circa 3,7 milioni di once equivalenti d'argento, inclusi 31,5 milioni di libbre di zinco e 15,8 milioni di libbre di piombo.
Sviluppi chiave includono l'acquisizione del 100% della Galena Complex attraverso l'acquisizione del 40% di Eric Sprott e il completamento di un collocamento privato da 50 milioni di dollari canadesi. L'azienda ha nominato Paul Andre Huet come CEO e Presidente, concentrandosi sul valore da sbloccare nella Galena Complex e nelle Operazioni di Cosalá.
I parametri finanziari mostrano una perdita netta di 48,9 milioni di dollari per il 2024, con costi di cassa a 17,41 dollari e costi sostenibili totali a 28,13 dollari per oncia d'argento. L'azienda ha ottenuto un Accordo di Credito e Offtake da 15 milioni di dollari con Trafigura per il Progetto EC120 presso le Operazioni di Cosalá, puntando a una produzione di concentrato d'argento-rame di qualità superiore nel terzo trimestre del 2025.
Americas Gold and Silver (NYSE: USAS) reportó sus resultados financieros para el año completo 2024, destacando un aumento en los ingresos a 100,2 millones de dólares, un 5% más que los 95,2 millones de dólares de 2023. La compañía produjo 1,7 millones de onzas de plata y aproximadamente 3,7 millones de onzas equivalentes de plata, incluyendo 31,5 millones de libras de zinc y 15,8 millones de libras de plomo.
Los desarrollos clave incluyen la adquisición del 100% de la Galena Complex a través de la adquisición del 40% de Eric Sprott y la finalización de una colocación privada de 50 millones de dólares canadienses. La compañía nombró a Paul Andre Huet como CEO y Presidente, enfocándose en desbloquear valor en la Galena Complex y las Operaciones de Cosalá.
Las métricas financieras muestran una pérdida neta de 48,9 millones de dólares para 2024, con costos de efectivo de 17,41 dólares y costos sostenibles totales de 28,13 dólares por onza de plata. La compañía aseguró un Acuerdo de Crédito y Offtake de 15 millones de dólares con Trafigura para el Proyecto EC120 en las Operaciones de Cosalá, con el objetivo de producir un concentrado de plata-cobre de mayor calidad en el tercer trimestre de 2025.
Americas Gold and Silver (NYSE: USAS)는 2024년 전체 재무 결과를 발표하며, 2023년 9520만 달러에서 5% 증가한 1억 200만 달러의 수익 증가를 강조했습니다. 이 회사는 170만 온스의 은과 약 370만 온스의 은 등가물을 생산했으며, 여기에는 3150만 파운드의 아연과 1580만 파운드의 납이 포함됩니다.
주요 개발 사항으로는 Eric Sprott의 40% 지분 인수를 통해 Galena Complex의 100% 소유권을 확보하고 5000만 캐나다 달러의 사모펀드 완료가 있습니다. 이 회사는 Paul Andre Huet를 CEO이자 회장으로 임명하고 Galena Complex와 Cosalá Operations에서 가치를 창출하는 데 집중하고 있습니다.
재무 지표는 2024년 순손실이 4890만 달러로, 현금 비용이 온스당 17.41달러, 전체 유지 비용이 온스당 28.13달러임을 보여줍니다. 이 회사는 Cosalá Operations의 EC120 프로젝트를 위해 Trafigura와 1500만 달러의 신용 및 오프테이크 계약을 체결하여 2025년 3분기에 고품질 은-구리 농축물 생산을 목표로 하고 있습니다.
Americas Gold and Silver (NYSE: USAS) a publié ses résultats financiers pour l'année complète 2024, mettant en avant une augmentation des revenus à 100,2 millions de dollars, soit une hausse de 5 % par rapport aux 95,2 millions de dollars de 2023. L'entreprise a produit 1,7 million d'onces d'argent et environ 3,7 millions d'onces d'argent équivalent, y compris 31,5 millions de livres de zinc et 15,8 millions de livres de plomb.
Les développements clés incluent l'acquisition de 100 % de la Galena Complex grâce à l'acquisition de 40 % par Eric Sprott et la réalisation d'un placement privé de 50 millions de dollars canadiens. L'entreprise a nommé Paul Andre Huet en tant que PDG et président, se concentrant sur la création de valeur au sein de la Galena Complex et des opérations de Cosalá.
Les indicateurs financiers montrent une perte nette de 48,9 millions de dollars pour 2024, avec des coûts de trésorerie de 17,41 dollars et des coûts de maintien totaux de 28,13 dollars par once d'argent. L'entreprise a sécurisé un accord de crédit et d'achats de 15 millions de dollars avec Trafigura pour le projet EC120 dans les opérations de Cosalá, visant une production de concentré d'argent-cuivre de qualité supérieure au troisième trimestre 2025.
Americas Gold and Silver (NYSE: USAS) hat seine Finanzzahlen für das gesamte Jahr 2024 veröffentlicht und ein Umsatzwachstum auf 100,2 Millionen Dollar verzeichnet, was einem Anstieg von 5% im Vergleich zu 95,2 Millionen Dollar im Jahr 2023 entspricht. Das Unternehmen produzierte 1,7 Millionen Unzen Silber und etwa 3,7 Millionen Unzen Silberäquivalent, einschließlich 31,5 Millionen Pfund Zink und 15,8 Millionen Pfund Blei.
Wichtige Entwicklungen umfassen die Übernahme von 100% des Galena-Komplexes durch den Erwerb von 40% durch Eric Sprott sowie den Abschluss einer Privatplatzierung in Höhe von 50 Millionen kanadischen Dollar. Das Unternehmen ernannte Paul Andre Huet zum CEO und Vorsitzenden und konzentriert sich darauf, den Wert im Galena-Komplex und den Cosalá-Betrieben freizusetzen.
Die finanziellen Kennzahlen zeigen einen Nettoverlust von 48,9 Millionen Dollar für 2024, mit Barproduktionskosten von 17,41 Dollar und Gesamtkosten von 28,13 Dollar pro Silberunze. Das Unternehmen sicherte sich eine Kredit- und Abnahmevereinbarung über 15 Millionen Dollar mit Trafigura für das EC120-Projekt in den Cosalá-Betrieben, mit dem Ziel, im dritten Quartal 2025 eine hochwertigere Silber-Kupfer-Konzentratproduktion zu erreichen.
- Increased revenue by 5% to $100.2 million in 2024
- Acquired 100% ownership of Galena Complex
- Secured C$50 million private placement financing
- Obtained $15 million Credit Agreement for EC120 Project
- Pre-production sales from EC120 contributed $3.7 million
- Net loss increased to $48.9 million in 2024 from $38.2 million in 2023
- Silver production decreased to 1.7 million ounces from 2.0 million ounces in 2023
- Cash costs increased to $17.41 per silver ounce from lower levels in 2023
- Galena Complex lead production decreased 34% year-over-year
- Cosalá Operations silver production declined 25% year-over-year
Insights
Americas Gold and Silver's 2024 results reflect a transitional period with mixed financial performance ahead of what management describes as a transformational 2025. While revenue increased 5% to $100.2 million, the company reported a widened net loss of $48.9 million (versus $38.2 million in 2023) and negative adjusted EBITDA of $1.5 million.
The strategic consolidation of the Galena Complex to 100% ownership through the acquisition of Eric Sprott's 40% stake represents a significant positioning move in the strong silver market. This was supported by a C$50 million private placement that strengthens the balance sheet. The appointment of Paul Andre Huet as CEO brings underground mining expertise critical for operational improvements.
Production metrics show challenges with silver output decreasing to 1.7 million ounces (from 2.0 million) and higher production costs - cash costs increased to
The reduction of $35 million in liabilities post-transaction provides financial flexibility, though the mention of ongoing discussions for debt financing suggests additional capital needs. The EC120 Project at Cosalá represents a near-term catalyst with higher-grade silver-copper concentrate production targeted for Q3-2025, which could meaningfully improve the production profile.
The operational picture at USAS reveals structural challenges at both primary assets that will require significant effort to address in 2025. At the Galena Complex, production declined 5% to approximately 1.5 million silver ounces with a more concerning 34% drop in lead output to 10.0 million pounds. The operation suffered from waste rock build-up and hoisting limitations due to delayed Galena shaft repairs, creating bottlenecks that prevented access to higher-grade areas.
The Cosalá Operations showed a 25% decrease in silver production to 825,000 ounces, primarily from recovery issues, alongside reduced zinc and lead output. External disruptions from heavy rainfall and regional security concerns caused temporary mill shutdowns, highlighting operational vulnerability.
Cost metrics reflect these operational struggles, with Galena's cash costs rising 23% to
Management's plan to optimize the No. 3 shaft at Galena for increased hoisting capacity represents a critical infrastructure investment that could alleviate production constraints. Similarly, the development of the EC120 silver-copper project at Cosalá shows promise with
This earnings release should be read in conjunction with the Company’s Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on the Americas Gold and Silver Corporation SEDAR+ profile at www.sedarplus.ca, and on its EDGAR profile at www.sec.gov, and which are also available on the Company’s website at www.americas-gold.com. All figures are in
2024 Highlights
-
Increased ownership in the Galena Complex to
100% through the acquisition of Eric Sprott’s40% interest in the Galena Complex (“Acquisition”) completed on December 19, 2024. -
Completed a
C concurrent bought deal private placement of subscription receipts at an issue price of$50 million C per subscription receipt in support of the recapitalization of the Company as part of the consolidation transaction.$0.40 - Mr. Paul Andre Huet was appointed Chief Executive Officer effective November 11, 2024, and Chairman on December 19, 2024. Mr. Huet’s focus is on building a strong, experienced technical team to unlock the dormant value of the Galena Complex and Cosalá Operations in pursuit of increased shareholder returns.
-
Benefits of the Consolidation Transaction:
-
Consolidation of Galena Complex in Idaho’s
Silver Valley aimed at strengthening the Company’s position during a strong silver market environment. - Leadership transition with Mr. Huet bringing extensive experience in underground mining and a track record of operational excellence with long-standing industry connections.
- The financial backing of, and strategic partnership with Mr. Eric Sprott and additional institutional investors provides both a strong capital foundation and increased market recognition.
-
Consolidation of Galena Complex in Idaho’s
-
Increase in fiscal 2024 revenue due to higher realized prices. Revenue increased to
for 2024 or$100.2 million 5% compared to for 2023, with higher realized silver [1] and realized zinc [1] during the period.$95.2 million - Consolidated attributable silver production of 1.7 million ounces with approximately 3.7 million ounces of silver equivalent [2], including 31.5 million pounds of zinc and 15.8 million pounds of lead.
-
Cost of sales [3] per silver equivalent ounce produced, cash costs [3] and all-in sustaining costs [3] per silver ounce produced averaged
,$18.12 and$17.41 , respectively, in 2024.$28.13 -
Net loss of
for 2024 (2023 net loss of$48.9 million ), primarily attributable to higher cost of sales, depletion and amortization, exploration costs, foreign exchange loss, loss on fair value of metals contract liability, and income tax expense, offset in part by higher revenue, and a prior period impairment.$38.2 million -
Adjusted earnings [3] for 2024 was a loss of
(adjusted loss of$33.7 million for 2023) primarily due to higher depletion, amortization, and exploration costs.$28.4 million -
Adjusted EBITDA [3] for 2024 was a loss of
for 2024 (adjusted EBITDA loss of$1.5 million for 2023), primarily due to higher depletion, amortization, and loss on metals contract liabilities.$1.4 million -
Silver production is expected to increase in 2025 as the development into EC120 Project progresses and mine continues to batch higher development grade ore through the mill, and operational improvements begin to be realized at the Galena Complex. Pre-production sales of EC120 silver-copper concentrate contributed
to net revenue during 2024.$3.7 million -
Credit and Offtake Agreement with Trafigura for EC120 Project. On August 14, 2024, the Company signed a
secured Credit and Offtake Agreement for the capital requirements of the Board-approved EC120 Project at its Cosalá Operations with the goal of solely producing higher-grade silver-copper concentrates in Q3-2025.$15 million
Paul Andre Huet, Chairman and CEO, commented: “At Americas Gold and Silver we have an excellent platform from which to build substantial shareholder value. We have the people, assets, and financial strength to succeed.
The consolidation of the Galena Complex in Idaho’s prolific
To further strengthen our balance sheet and to support growth related capital investments, we are in advanced discussions regarding a debt financing facility with a preferred lending partner. Increased financial flexibility will be a key pillar of our turnaround plans at the Galena Complex. Since the closing of the consolidation transaction late last year, we have reduced liabilities by over
I am proud to be leading our revitalized senior management with a proven track record of turning around operations and maximizing value for shareholders. New senior leadership at our Galena operations is already in place and the detailed evaluation of the path towards increasing mining rates and hoisting capacity to take full advantage of existing mill capacity is well underway. Galena has substantial infrastructure already in place to exploit a large Mineral Resource; an excellent starting point to bring the operation towards its full potential as a very profitable and long-lived cornerstone asset.
I have been very pleased with our team running our Cosalá operations. Our team has demonstrated a strong commitment to safe and profitable production, delivering strong operating results of over 2.5 million silver equivalent ounces in 2024 at a cash cost of
We are also very happy to announce the appointment of Rob Buchanan as Vice President, Sustainability and Communications. Rob was a key driver of our sustainability and communication strategies throughout many successful years at Karora, and we are looking forward to developing our sustainability action plan at
Overall, I am very excited as I embark on my first full year leading the Americas Gold and Silver team. With 2024 in the rear-view mirror, 2025 will be a year of investment into our flagship Galena mine as we lay the foundations for future growth, and I look forward to unlocking the massive potential across our asset base for our shareholders in what is certainly a positive silver price environment.”
Consolidated Production
Consolidated attributable silver production during 2024 was lower than 2023 with approximately 1.7 million ounces and 2.0 million ounces, respectively. Consolidated attributable silver equivalent production during 2024 decreased by
Consolidated attributable cash costs and all-in sustaining costs for 2024 were
Galena Complex
The Galena Complex produced approximately 1.5 million ounces of silver in 2024 compared to approximately 1.6 million ounces of silver in 2023 (a
Tonnage and silver production during 2024 were both comparable to 2023 with an increase of
Cosalá Operations
The Company focused on silver production while maintaining base metal production from the San Rafael Main and Upper Zones to maximize its revenue and cash flow generation to benefit from the increase in silver and zinc prices during the period. A portion of installed mining and milling capacity during the year was used to prepare for its next evolution of operations into the EC120 silver-copper deposit, with pre-production sales of EC120 silver-copper concentrate contributing
Silver production decreased in 2024 by
Cash costs per silver ounce increased during the year to
Conference Call Details
Date: March 27, 2025
Time: 10 am ET / 7 am PT.
The call may be accessed using This Webcast Link
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A recording of the conference call will be available for replay on the ‘Events’ page of our website, beginning at approximately 1 pm ET / 10 am PT on March 27, 2025.
About Americas Gold and Silver Corporation
Americas Gold and Silver is a growing precious metals mining company with multiple assets in
Technical Information and Qualified Persons
The scientific and technical information relating to the Company’s material mining properties contained herein has been reviewed and approved by Chris McCann, P.Eng., Vice President, Technical Services of the Company. The Company’s current Annual Information Form and the NI 43-101 Technical Reports for its mineral properties, all of which are available on SEDAR+ at www.sedarplus.ca, and EDGAR at www.sec.gov, contain further details regarding mineral reserve and mineral resource estimates, classification and reporting parameters, key assumptions and associated risks for each of the Company’s material mineral properties, including a breakdown by category.
All mining terms used herein have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), as required by Canadian securities regulatory authorities. These standards differ from the requirements of the SEC that are applicable to domestic
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, Americas’ expectations, intentions, plans, assumptions and beliefs with respect to, among other things, estimated and targeted production rates and results for gold, silver and other metals, the expected prices of gold, silver and other metals, as well as the related costs, expenses and capital expenditures; production from the Galena Complex and Cosalá Operations, including the expected number of producing stopes and production levels; the expected timing and completion of required development and the expected operational and production results therefrom, including the anticipated improvements to production rates and cash costs per silver ounce and all-in sustaining costs per silver ounce; statements relating to Americas’ EC120 Project; and statements relating to implementation of, and the impact of new management on, the planned recapitalization of Galena Complex. Guidance and outlook references contained in this press release were prepared based on current mine plan assumptions with respect to production, development, costs and capital expenditures, the metal price assumptions disclosed herein, and assumes no further adverse impacts to the Cosalá Operations from blockades or work stoppages, and completion of the shaft repair and shaft rehab work at the Galena Complex on its expected schedule and budget, the realization of the anticipated benefits therefrom, and is subject to the risks and uncertainties outlined below. The ability to maintain cash flow positive production at the Cosalá Operations, which includes the EC120 Project, through meeting production targets and at the Galena Complex through implementing the Galena Recapitalization Plan, including the completion of the Galena shaft repair and shaft rehab work on its expected schedule and budget, allowing the Company to generate sufficient operating cash flows while facing market fluctuations in commodity prices and inflationary pressures, are significant judgments in the consolidated financial statements with respect to the Company’s liquidity. Should the Company experience negative operating cash flows in future periods, the Company may need to raise additional funds through the issuance of equity or debt securities. Often, but not always, forward-looking information can be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”, “potential’, “estimate”, “may”, “assume” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future events or performance. Forward-looking information is based on the opinions and estimates of
__________________________
1 This metric is a non-GAAP financial measure or ratio. The Company uses the financial measures "average realized silver price", "average realized zinc price” and “average realized lead price” because it understands that in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the Company’s performance vis-à-vis average market prices of metals for the period. The presentation of average realized metal prices is not meant to be a substitute for the revenue information presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS measure.
Average realized metal prices represent the sale price of the underlying metal excluding unrealized mark-to-market gains and losses on provisional pricing and concentrate treatment and refining charges. Average realized silver, zinc and lead prices are calculated as the revenue related to each of the metals sold, e.g. revenue from sales of silver divided by the quantity of ounces sold.
2 The Company references certain supplementary financial measures that are not defined terms under IFRS to assess performance because it believes they provide useful supplemental information to investors.
______________________________________________________________________________________________________________________________________________________________________
References to silver equivalent production are based on all metals production at average realized silver, zinc, and lead prices during each respective period, except as otherwise noted.
3 This metric is a non-GAAP financial measure or ratio. The Company uses the financial measure “Cost of Sales/Ag Eq Oz Produced” because it understands that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the Company’s underlying cost of operations. Silver equivalent production are based on all metals production at average realized silver, zinc, and lead prices during each respective period, except as otherwise noted.
The Company uses the financial measures, “Cash Cost”, “Cash Cost/Ag Oz Produced”, “All-In Sustaining Cost”, and “All-In Sustaining Cost/Ag Oz Produced” in accordance with measures widely reported in the silver mining industry as a benchmark for performance measurement and because it understands that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the Company’s underlying earnings, cash costs and total costs of operations.
Cash costs are determined on a mine-by-mine basis and include mine site operating costs such as: mining, processing, administration, production taxes and royalties which are not based on sales or taxable income calculations. Non-cash costs consist of: non-cash related charges to cost of sales including inventory movements, write-downs to net realizable value of concentrates, ore stockpiles, and spare parts and supplies, and employee profit share accruals.
All-in sustaining costs is cash costs plus all development, capital expenditures, and exploration spending, excluding costs related to the Galena Recapitalization Plan implementation.
The Company uses the financial measures “EBITDA”, “adjusted EBITDA” and “adjusted earnings” as indicators of the Company’s ability to generate operating cash flows to fund working capital needs, service debt obligations, and fund exploration and evaluation, and capital expenditures. These financial measures exclude the impact of certain items and therefore is not necessarily indicative of operating profit or cash flows from operating activities as determined under IFRS. Other companies may calculate these financial measures differently.
EBITDA is net income (loss) under IFRS before depletion and amortization, interest and financing expense, and income taxes. Adjusted EBITDA further excludes other non-cash items such as accretion expenses, impairment charges, and other fair value gains and losses.
Adjusted earnings is net income (loss) under IFRS excluding other non-cash items such as accretion expenses, impairment charges, and other fair value gains and losses.
Reconciliation of Consolidated Cost of Sales/Ag Eq Oz Produced(a, b) |
||||
|
2024 |
2023 |
||
Cost of sales ('000) |
|
|
||
Less non-controlling interests portion ('000) |
(15,581) |
(15,609) |
||
Attributable cost of sales ('000) |
67,159 |
64,281 |
||
Divided by silver equivalent produced (oz) |
3,706,979 |
4,589,107 |
||
Cost of sales/Ag Eq oz produced ($/oz) |
|
|
||
Reconciliation of Cosalá Operations Cost of Sales/Ag Eq Oz Produced(b) |
||||
|
2024 |
2023 |
||
Cost of sales ('000) |
|
|
||
Divided by silver equivalent produced (oz) |
2,586,577 |
3,266,677 |
||
Cost of sales/Ag Eq oz produced ($/oz) |
|
|
||
Reconciliation of Galena Complex Cost of Sales/Ag Eq Oz Produced |
||||
|
2024 |
2023 |
||
Cost of sales ('000) |
|
|
||
Divided by silver equivalent produced (oz) |
1,830,191 |
2,204,050 |
||
Cost of sales/Ag Eq oz produced ($/oz) |
|
|
||
Reconciliation of Consolidated Cash Costs/Ag Oz Produced(a, b) |
||||
|
2024 |
2023 |
||
Cost of sales ('000) |
|
|
||
Less non-controlling interests portion ('000) |
(15,581) |
(15,609) |
||
Attributable cost of sales ('000) |
67,159 |
64,281 |
||
Smelting, refining and royalty expenses in cost of sales ('000) |
(4,856) |
(5,242) |
||
Non-cash costs ('000) |
879 |
712 |
||
Direct mining costs ('000) |
|
|
||
Smelting, refining and royalty expenses ('000) |
14,323 |
21,163 |
||
Less by-product credits ('000) |
(47,230) |
(53,927) |
||
Cash costs ('000) |
|
|
||
Divided by silver produced (oz) |
1,739,272 |
2,043,053 |
||
Cash costs/Ag oz produced ($/oz) |
|
|
||
Reconciliation of Cosalá Operations Cash Costs/Ag Oz Produced(b) |
||||
|
2024 |
2023 |
||
Cost of sales ('000) |
|
|
||
Smelting, refining and royalty expenses in cost of sales ('000) |
(4,284) |
(4,708) |
||
Non-cash costs ('000) |
547 |
1,145 |
||
Direct mining costs ('000) |
|
|
||
Smelting, refining and royalty expenses ('000) |
12,235 |
17,556 |
||
Less by-product credits ('000) |
(41,865) |
(45,556) |
||
Cash costs ('000) |
|
|
||
Divided by silver produced (oz) |
825,097 |
1,098,612 |
||
Cash costs/Ag oz produced ($/oz) |
|
|
||
Reconciliation of Galena Complex Cash Costs/Ag Oz Produced |
||||
|
2024 |
2023 |
||
Cost of sales ('000) |
|
|
||
Smelting, refining and royalty expenses in cost of sales ('000) |
(928) |
(890) |
||
Non-cash costs ('000) |
569 |
(721) |
||
Direct mining costs ('000) |
|
|
||
Smelting, refining and royalty expenses ('000) |
3,414 |
6,011 |
||
Less by-product credits ('000) |
(8,770) |
(13,951) |
||
Cash costs ('000) |
|
|
||
Divided by silver produced (oz) |
1,494,385 |
1,574,068 |
||
Cash costs/Ag oz produced ($/oz) |
|
|
||
Reconciliation of Consolidated All-In Sustaining Costs/Ag Oz Produced (a, b) |
||||
|
2024(b) |
2023 |
||
Cash costs ('000) |
|
|
||
Capital expenditures ('000) |
13,995 |
12,460 |
||
Exploration costs ('000) |
4,655 |
2,308 |
||
All-in sustaining costs ('000) |
|
|
||
Divided by silver produced (oz) |
1,739,272 |
2,043,053 |
||
All-in sustaining costs/Ag oz produced ($/oz) |
|
|
||
Reconciliation of Cosalá Operations All-In Sustaining Costs/Ag Oz Produced(b) |
||||
|
2024 |
2023 |
||
Cash costs ('000) |
|
|
||
Capital expenditures ('000) |
5,781 |
7,129 |
||
Exploration costs ('000) |
2,754 |
835 |
||
All-in sustaining costs ('000) |
|
|
||
Divided by silver produced (oz) |
825,097 |
1,098,612 |
||
All-in sustaining costs/Ag oz produced ($/oz) |
|
|
||
Reconciliation of Galena Complex All-In Sustaining Costs/Ag Oz Produced |
||||
|
2024 |
2023 |
||
Cash costs ('000) |
|
|
||
Capital expenditures ('000) |
13,427 |
8,885 |
||
Exploration costs ('000) |
3,108 |
2,455 |
||
All-in sustaining costs ('000) |
|
|
||
Galena Complex Recapitalization Plan costs (‘000) |
- |
4,264 |
||
All-in sustaining costs with Galena Recapitalization Plan (‘000) |
|
|
||
Divided by silver produced (oz) |
1,494,385 |
1,574,068 |
||
All-in sustaining costs/Ag oz produced ($/oz) |
|
|
||
All-in sustaining costs with Galena Recapitalization Plan/Ag oz produced ($/oz) |
|
|
||
Reconciliation of EBITDA and Adjusted EBITDA | ||||
2024 |
2023 |
|||
Net loss ('000) |
|
|
||
Depletion and amortization ('000) |
24,091 |
20,849 |
||
Interest and financing expense ('000) | 7,375 |
8,189 |
||
Income tax loss (recovery) ('000) | 679 |
(2,060) |
||
EBITDA ('000) |
|
|
||
Accretion on decommissioning provision ('000) |
616 |
587 |
||
Foreign exchange loss (gain) ('000) |
3,504 |
(404) |
||
Gain on disposal of assets ('000) |
(18) |
(402) |
||
Impairment to property, plant and equipment ('000) | - |
6,000 |
||
Loss on metals contract liability ('000) |
10,065 |
3,396 |
||
Other loss (gain) on derivatives ('000) |
164 |
(120) |
||
Fair value loss on royalty payable ('000) |
875 |
760 |
||
Adjusted EBITDA ('000) |
|
|
||
Reconciliation of Adjusted Earnings | ||||
2024 |
2023 |
|||
Net loss ('000) |
|
|
||
Accretion on decommissioning provision ('000) | 616 |
587 |
||
Foreign exchange loss (gain) ('000) |
3,504 |
(404) |
||
Gain on disposal of assets ('000) |
(18) |
(402) |
||
Impairment to property, plant and equipment ('000) | - |
6,000 |
||
Loss on metals contract liability ('000) |
10,065 |
3,396 |
||
Other loss (gain) on derivatives ('000) |
164 |
(120) |
||
Fair value loss on royalty payable ('000) | 875 |
760 |
||
Adjusted earnings ('000) |
|
|
||
(a) |
Throughout this press release, consolidated production results and consolidated operating metrics are based on the attributable ownership percentage of each operating segment ( |
|
(b) |
Throughout this press release, silver production, silver equivalent production, and cost per ounce measurements during fiscal 2024 include EC120 Project pre-production from the Cosalá Operations. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250327385193/en/
For more information:
Maxim Kouxenko - Manager, Investor Relations
M: +1(647) 888-6458
E: ir@americas-gold.com
W:
Source: Americas Gold and Silver Corporation