Business
Americas Gold and Silver Provides Q2-2023 Production Results; Attributable Silver Production Increased by 92% Year-over-year
TORONTO / Jul 17, 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 / Jul 17, 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 its Q2-2023 production results. Q2-2023 consolidated attributable silver production increased by 92% year-over-year and 15% quarter-over-quarter totalling approximately 0.57 million ounces compared with approximately 0.30 million ounces in Q2-2022 and 0.50 million ounces in Q1-2023. Consolidated attributable silver equivalent1 production in Q2-2023 was approximately 1.3 million ounces compared with approximately 1.2 million ounces in Q1-2023 and 1.3 million ounces in Q2-2022. Production guidance for 2023 remains unchanged with consolidated attributable silver production expected to range between 2.2 and 2.6 million ounces and consolidated attributable silver equivalent production expected to range between 5.5 and 6.0 million ounces. The Company successfully installed the Galena Hoist which is now operational as of the end of Q2-2023 with only shaft repair remaining before final certification can be obtained. In early July, the Company closed the second tranche of the senior secured convertible debenture for a total of C$8.0 million. In addition, certain members of the Company’s board and management invested a total of C$550,000 in a private placement for common shares of the Company. “The Company continued the strong momentum from Q1-2023 and delivered another solid production quarter in Q2-2023, resulting in a significant increase in silver production quarter-over-quarter and year-over-year. Production in the second half of the year is expected to be higher than the first half of the year,” stated Americas President and CEO Darren Blasutti. “The Galena Hoist was successfully installed by the end of the quarter with only shaft repair remaining on a part of the shaft. The Galena Hoist is expected to positively impact the Galena Complex operations for many years to come.” Consolidated Attributable Production* Q2-2023 Q1-2023 % Increase(Q-over-Q) Q1-2022 % Increase (Decrease)(Y-over-Y) Silver Production (ounces) 0.57 Moz 0.50 Moz 15% 0.30 Moz 92% Zinc Production (million pounds) 9.6 Mlbs 7.2 Mlbs 33% 9.9 Mlbs (4%) Lead Production (million pounds) 5.9 Mlbs 5.5 Mlbs 6% 6.4 Mlbs (9%) Silver Equivalent Production...