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 (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.
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