Americas Gold And Silver Corp - USAS STOCK NEWS

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.

Americas Gold and Silver (TSX:USA; NYSE American: USAS) announced the election of directors at its annual meeting on June 25, 2024. Nominees Darren Blasutti, Christine Carson, Alex Davidson, Alan Edwards, Bradley Kipp, Gordon Pridham, Manuel Rivera, and Lorie Waisberg were elected with varying approval rates, the highest being 94.17% for Alan Edwards.

Shareholders also approved PricewaterhouseCoopers LLP as auditors and authorized directors to fix their remuneration. Additionally, a resolution was passed to issue up to 27,500,000 common shares upon retraction of Convertible Debentures, exceeding 25% of outstanding shares as of June 12, 2023. A total of 108,292,557 common shares, representing 43.14% of the total shares, were voted.

Americas Gold and Silver reported Q1-2024 results with a 12% revenue drop to $19.5 million, attributed to lower zinc prices and reduced silver and lead production from their Galena Complex. The company posted a net loss of $16.2 million, an increase of $5.7 million year-over-year. Silver production was down slightly to 0.48 million ounces, while zinc and lead production saw marginal changes. The Cosalá Operations showed strong silver production, benefiting from above-budgeted grades and recoveries. The Galena Complex faced lower production due to developmental focus but expects increased output in subsequent quarters. Cash costs rose significantly due to higher costs of sales and lower metal prices. The company's strategic focus includes developing the EC120 Project to produce high-grade silver-copper concentrates by early 2025.

Americas Gold and Silver provided its Q1-2024 production results, showcasing a consolidated attributable silver production of 0.48 million ounces. The company also announced the appointment of Jim Currie as Chief Operating Officer. Despite a slight decrease in silver production compared to the previous year, positive trends are expected to continue with upcoming projects. Currie's vast mining experience is anticipated to enhance production and profitability at the Galena Complex. The Company is in the final stages of securing financing for the EC120 Project, aiming to commence higher-grade silver-copper concentrate production in early 2025.

Americas Gold and Silver (USAS) reports financial results for the year ended December 31, 2023, with revenue increasing to $89.6 million, a net loss of $38.2 million, and consolidated attributable silver production up by 56%. The Company is in negotiation for concentrate prepayment financing and closed equity offerings for working capital. Silver production grew significantly in 2023, with plans for further growth in 2024 and 2025. Cosalá Operations and Galena Complex both saw production increases and cost changes, with positive results from exploration drilling at the Galena Complex.

Americas Gold and Silver (USAS) successfully closed an offering, raising $7.8 million through the sale of 21,667,000 Units at $0.30 per Unit. The Company also issued additional Units through private placements, totaling 25,000,000 Units. The net proceeds will be used for operational needs and expanding silver-copper ore production at its U.S. and Mexico operations.

Americas Gold and Silver provides an update on Galena Complex exploration results, showcasing high-grade silver and copper intercepts. Hole 49-703 returns remarkable grades, indicating potential for increased ore production. The Company's successful drilling program aims to exploit new mineral resources and enhance silver production.

Americas Gold and Silver Corporation reported a 56% increase in consolidated attributable silver production in 2023 compared to 2022. Despite falling 7% below its original silver guidance for the year, Q4-2023 was the Company's strongest production quarter, with a 50% increase in silver production. The Company is making significant progress with interested metal traders to provide concentrate prepayment financing for the capital requirements at its 100%-owned El Cajón and Zone 120 silver-copper project, with the goal to be producing higher-grade silver-copper concentrates by the end of 2024. The Galena Complex exploration program continues to generate impressive results, with high-grade silver intercepts expected to add mineable resources that could be additive to planned 2024 silver production totals.