Business
Americas Silver Corporation Provides First Quarter Production and Cost Update
TORONTO--(BUSINESS WIRE)--Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver” or the “Company”) today announced production and opera
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"TORONTO--(BUSINESS WIRE)--Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver” or the “Company”) today announced production and operating cost results for the first quarter of 2019 on a consolidated basis and individually for its Cosalá Operations and Galena Complex. All figures are in U.S. dollars unless otherwise indicated. First Quarter Highlights Consolidated silver production of approximately 1.8 million silver equivalent1 ounces, an increase of 9% year-over-year, and 395,000 silver ounces consistent with prior year. Consolidated cash costs2 were approximately negative ($0.50) per silver ounce, a decrease of 144%, when compared to prior quarter. Consolidated all-in sustaining costs2 (“AISC”) were approximately $5.54 per silver ounce, a decrease of 53%, when compared to Q4 2018. Milled tonnage at the Cosalá Operations increased by 24% year-over-year, with the San Rafael mine sustaining an average milling rate of approximately 1,750 tonnes per operating day. Production of approximately 1.3 million silver equivalent ounces including approximately 170,000 silver ounces, representing increases of 39% and 118%, respectively, year-over-year. Cash costs were approximately negative ($30.48) per silver ounce and AISC were approximately negative ($25.85) per silver ounce representing decreases of 21% and 130%, respectively, when compared to prior quarter. Continuing operational challenges limited production at the Galena Complex to approximately 430,000 silver equivalent ounces including approximately 220,000 silver ounces, representing decreases of 15% and 1%, respectively, when compared to prior quarter. Cash costs were approximately $23.03 per silver ounce and AISC were approximately $30.17 per silver ounce representing increases of 8% and 2%, respectively, when compared to prior quarter. Subsequent to quarter end, the acquisition of Pershing Gold Corporation (“Pershing”) closed on April 3, 2019 after the Committee on Foreign Investment in the United States (“CFIUS”) completed its review. The Company announced concurrent financing signed with Sandstorm Gold Ltd. for gross proceeds of approximately US$42.5 million to completely fund production at the Relief Canyon Project. Guidance for 2019 remains unchanged at 1.6 – 2.0 million silver ounces and 6.6 – 7.0 million silver equivalent ounces at cash costs of ...