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Americas Gold and Silver Provides 2023 Guidance and 2024 Production Outlook
TORONTO / Feb 22, 2023 / 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 / Feb 22, 2023 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, is pleased to provide the Company’s attributable silver production, silver equivalent production, cost and capital expenditure guidance for 2023 and production outlook for 2024. Highlights The Company’s attributable silver equivalent1 production is expected to increase to a range of 5.5 – 6.0 million ounces in 2023 with further increases anticipated to result in production of between 6.5 – 7.0 million ounces in 2024. Attributable silver production forecast for 2023 is between 2.2 – 2.6 million ounces, with further increases anticipated to result in production of 3.5 - 4.0 million ounces in 2024. Year-over-year, attributable silver production is expected to increase in 2023 by over 80% based on the mid-point of the expected 2023 guidance range, while attributable silver equivalent production is expected to increase in 2023 by approximately 10%. Silver production is expected to increase in 2023 as a result of: i) a higher portion of production coming from the higher-grade silver Upper Zone of the San Rafael deposit at the Cosalá Operations; ii) a full year of production from the 3700 Level at the Galena Complex which contains higher grade ore as well as the completion of the Galena Hoist project before H2-2023. Sustaining and discretionary growth capital expenditures in 2023 are expected to be roughly in-line with 2022 actuals. Capitalized exploration costs will be higher as a $1.2 million drill program is expected to test the Cosalá North prospect in 2023. 2022 attributable production was 1.31 million silver ounces and 5.3 million silver equivalent ounces. 2022 attributable cash cost per silver ounce2 and all-in sustaining cost per silver ounce2 were approximately $0.77 per silver ounce and $9.63 per silver ounce, respectively. “The Company’s 2023 guidance and 2024 production outlook is expected to continue to deliver solid organic production increases and substantial silver optionality to our stakeholders over the next several years,” stated Americas President and CEO Darren Blasutti. “The Galena Hoist project is nearing completion and is expected before H2-2023 while the Cosalá Operations are actively mining the higher-grade silver z...