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Americas Gold and Silver Corporation Reports First Quarter 2022 Results
TORONTO / May 11, 2022 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North Am
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"TORONTO / May 11, 2022 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, reports consolidated financial and operational results for the quarter ended March 31, 2022. 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.sedar.com, 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 U.S. dollars unless otherwise noted. Highlights Revenue of $26.4 million and net loss of $0.3 million or a net loss of ($0.00)2 per share in Q1-2022, representing an increase of $16.0 million in revenue and a significant decrease of $91.5 million in net loss compared to Q1-2021. Aggregate net income from the Cosalá Operations and 60% owned Galena Complex operating segments of $8.5 million during the quarter. The Cosalá Operations net income increased to $5.6 million (+347%) and the Galena Complex net income to $2.9 million (+290%) during Q1-2022 over Q1-2021. Cash generated from operating activities2, before changes in non-cash working capital items, increased by $13.6 million in Q1-2022 over Q1-2021. Significantly improved balance sheet with the resumption of mining at the Cosalá Operations with a return to full production in Q1-2022. The Company had a cash and cash equivalents balance of $7.1 million as of March 31, 2022, compared to a balance of $2.9 million as of December 31, 2021. Over the same period, net working capital2 improved by $17.6 million. The Company previously reported Q1-2022 consolidated attributable production of approximately 300,000 silver ounces and 1,274,000 silver equivalent1 ounces. This improvement represents a 45% increase in silver production and an 80% increase in silver equivalent production compared with Q4-2021. The Company’s consolidated Q1-2022 cash costs2 per silver ounce was negative $9.55 per ounce and consolidated Q1-2022 all-in sustaining costs2 per silver ounce was negative $2.67 per ounce. Cash costs benefitted from the strong zinc and lead prices, which are both higher than the Com...