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Americas Gold and Silver Provides Q3-2023 Production Results With an Increase of 17% in Attributable Silver Production
TORONTO / Oct 30, 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 / Oct 30, 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 Q3-2023 production results. Q3-2023 consolidated attributable silver production rose 17% totalling approximately 0.39 million ounces compared with approximately 0.33 million ounces in Q3-2022. Consolidated attributable silver equivalent1 production in Q3-2023 was approximately 1.0 million ounces compared with approximately 1.3 million ounces in Q3-2022. The reported silver equivalent production was impacted by higher silver prices and lower zinc prices in Q3-2023 versus Q3-2022 as the Company uses realized quarterly prices in its calculations. These price changes negatively impacted the silver equivalent production calculation by approximately 0.3 million ounces in Q3-2023 compared to Q3-2022. Production was negatively impacted early in the quarter by a 5-day electrical shutdown at the Galena Complex to allow necessary hoist switchgear upgrades, as well as mobile equipment availability. The Cosalá Operations had various mill outages totalling 14 days due to heavy rain and tailings work. The Cosalá Operations has grown its ore stockpile to approximately 25,000 tonnes from zero at the beginning of the year. Further, mining has begun in the transition zone between the San Rafael Upper Zone and Zone 120 with approximately 10,000 tonnes mined to-date. The Company expects to realize an increase in silver production in the near term due the higher-grade silver areas in the Upper Zone and the transition zone. Production is expected to be the highest in Q4-2023 for calendar 2023 with both operations now accessing their highest silver grades for the year. Production guidance for 2023 remains unchanged but the Company expects to be at lower end of both the consolidated attributable silver production range of 2.2 and 2.6 million ounces and consolidated attributable silver equivalent production range of 5.5 and 6.0 million ounces. “October production has started out strongly and the Company is confident that Q4-2023 will be its strongest silver production quarter following a challenging operating quarter in Q3-2023,” stated Americas President and CEO Darren Blasutti. “The Company is undertaking numerous operating decisions to ...