Business
Americas Gold and Silver Reports Q3-2023 Results; Production guidance Remains Unchanged
TORONTO / Nov 15, 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 / Nov 15, 2023 / 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 September 30, 2023. 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 $18.3 million for Q3-2023 compared to revenue of $18.3 million for Q3-2022, resulting from higher silver production and silver price from the Galena Complex, offset by slightly lower base metal production and much lower zinc prices from the Cosalá Operations during the most recent period. A net loss of $10.5 million for Q3-2023, or an attributable loss of $0.04 per share representing a decrease in net loss of $14.1 million compared to Q3-2022. As previously reported, Q3-2023 consolidated attributable silver production rose 17% totalling approximately 0.39 million ounces compared with approximately 0.33 million ounces in Q3-2022. Production was negatively impacted early in the quarter by a planned five-day electrical shutdown at the Galena Complex, as well as mobile equipment availability. The Cosalá Operations had various mill outages totalling 14 days due to heavy rain and tailings work during the Q3-2023 period. Q4-2023 production has been strong to date with over 190,000 ounces of attributable silver ounces produced in October. Attributable silver production in November and December are expected to exceed October actuals. Attributable cash costs of $19.01/oz silver produced1 and all-in sustaining costs of $29.55/oz silver produced2 during the quarter. Cash costs were negatively impacted in the quarter by losing 19 days of combined production, lower zinc prices and the appreciation in the Mexican peso. Following the end of the quarter, the Company commenced discussions with interested metal traders to provide concentrate prepayment financing for the capital re...