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Americas Gold and Silver Provides Q2-2024 Production Results; Galena Complex Silver Production the Highest Per Quarter in Over 10 Years
TORONTO / Jul 17, 2024 / 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, 2024 / 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 Q2-2024 production results. Q2-2024 consolidated attributable silver production of 0.51 million ounces compared with approximately 0.48 million ounces in Q1-2024. The Company also produced 8.9 million attributable pounds of zinc and 4.4 million attributable pounds of lead during Q2-2024. Galena Complex quarterly production was the highest on record since 2013 with silver production of 560,000 ounces on a 100% basis and attributable production of 336,000 ounces as the operation benefitted from contributions to production from new mining areas in the Upper Country Lead Zone between 2400 and 2800 levels and a strong quarter from the 52-198 Silver Hanging Wall Vein. The Cosalá Operations focused on mining the Main Zone at the San Rafael mine given its higher-grade zinc stopes to take advantage of the Q2-2024 increase in zinc prices. The Cosalá Operations produced approximately 170,000 ounces of silver, 8.9 million pounds of zinc and 2.6 million pounds of lead during the quarter, including preproduction contribution from the 100%-owned El Cajón and Zone 120 silver-copper project (“EC120 Project”). As the operation transitions to higher-grade silver zones through the rest of the year, silver production from the Cosalá Operations is expected to increase quarter-over-quarter. Preliminary cash costs[1] and all-in sustaining costs (“AISC”)[1] for Q2-2024 are estimated to be approximately $12.40 per silver ounce and $19.60 per silver ounce, respectively. These figures compare with cash costs and all-in sustaining costs of $20.57 per silver ounce and $30.04 per silver ounce in Q1-2024 representing decreases of ~40% and ~35% quarter-over quarter, respectively. The Company has an agreement in principle with a metal trader to provide concentrate prepayment financing for the entire initial capital requirement at its EC120 Project. The Company expects to close on this financing in the next few weeks with the goal of producing higher-grade silver-copper concentrates from the EC120 Project in early 2025. “The Galena Complex had a terrific operating quarter with silver production at the highest level in over 10 years.” stated America...