Americas Gold and Silver Corporation - USAS STOCK NEWS

Americas Gold and Silver Corporation (NYSE American: USAS) announced its Q3-2021 financial results, reporting revenues of $10.9 million and a net loss of $18.6 million. The loss is primarily attributed to operational costs at Relief Canyon, which has temporarily suspended mining. A ramp-up in production is expected at the Cosalá Operations, with a target of approximately 1,800 tonnes per day next month. The Galena Complex saw a 35% year-over-year increase in silver production. Additionally, a financing amendment has increased the principal balance of convertible debentures.

Americas Gold and Silver Corporation (NYSE American: USAS) reports positive developments in its operations, indicating a return to production at the Cosalá Operations with a ramp-up to 1,800 tonnes per day expected soon. Concentrate shipments have resumed, anticipating revenue generation in Q4-2021. The Galena Complex achieved a 35% quarter-over-quarter increase in silver production, producing around 290,000 ounces. The company has commenced a Phase II drill program aimed at extending mineral reserves and potentially increasing production to over 2.5 million ounces of silver annually.

Americas Gold and Silver Corporation (NYSE American: USAS) announced the recall of its workers at the Cosalá Operations, initiating a re-opening as of September 13, 2021. With the mine and mill inspected by the Mexican Ministry of Labour, production and concentrate shipments are expected to start in October 2021. The company aims to target high-grade silver ores, potentially boosting annual silver production to over 2.5 million ounces. Additionally, exploration at the Galena Complex in Idaho could reach peak production of around 5 million ounces annually in the future.

Americas Gold and Silver Corporation (USAS) updated its Mineral Reserve and Resource statement as of June 30, 2021, showing substantial growth primarily at the Galena Complex. Proven and probable silver reserves increased by 38% to 16.6 million ounces, while measured and indicated silver resources surged by 72% to 64.2 million ounces. The Phase 1 drilling program exceeded expectations, and the company initiated a Phase 2 program targeting further resource growth. The illegal blockade affected the Cosalá Operations, hindering exploration there, but a restart is anticipated following recent agreements.

Americas Gold and Silver Corporation (USAS) reported Q2-2021 results, showing revenue of $9.5 million and a net loss of $17.8 million. The company anticipates full capacity at Cosalá Operations by Q4-2021 following a reopening agreement with Mexican authorities. Silver production increased 20% year-over-year at Galena Complex. However, mining operations at Relief Canyon have been temporarily suspended to reallocate resources to Cosalá. The company is optimistic about future resource updates, expecting to significantly improve profitability and cash flow due to rising silver prices.

Americas Gold and Silver Corporation has announced plans to reopen its Cosalá Operations following an agreement with the Mexican government signed on July 6, 2021. Recent inspections show that the mine and mill are in good condition, with local management finalizing a restart plan. Government inspectors are expected to review the plans this week, leading to potential employee recalls. The company anticipates full operational capacity by Q4 2021, targeting over 2.5 million ounces of silver production annually and leveraging high silver prices to enhance operations.

Americas Gold and Silver Corporation (USAS) has released an exploration update for the Galena Complex. The Phase 1 drilling is completed, revealing high-grade mineralization with significant results, such as 3,345 g/t silver in Hole 55-183. The company targets an additional 50 million ounces of silver from the upcoming Phase 2 drilling program, expected to commence in Q3-2021. However, the company faces a proposed class action lawsuit seeking damages of C$130 million related to disclosures concerning its Relief Canyon mine. An updated mineral resource estimate is expected by the end of August 2021.

Americas Gold and Silver Corporation (NYSE American: USAS) has signed an agreement with Mexican government ministries to reopen the Cosalá Operations, which had been closed for over 17 months due to illegal blockades. The agreement provides immediate possession rights and involves a joint inspection by the Ministry of Labor. The company anticipates that production from the Cosalá Operations could exceed 2.5 million ounces of silver annually, leveraging current high silver prices. Additionally, exploration efforts at the Galena Complex aim to reach peak production levels of approximately 5 million ounces per year.

Americas Gold and Silver Corporation (NYSE American: USAS) announced that shareholders voted in favor of all items, including the election of nominees at the annual meeting held on June 10, 2021. The results showed significant support for the nominees, with votes for Alex Davidson at 78.97%, Darren Blasutti at 86.36%, and Alan Edwards at 85.96%. The company continues to operate key assets including the Relief Canyon mine and Cosalá Operations. Further details can be found on the company's website.