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Americas Silver Corporation Provides Second 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 second quarter of 2018 on a consolidated basis and individually for its Cosalá Operations and Galena Complex. All figures are in U.S. dollars unless otherwise indicated. Second Quarter Highlights Consolidated silver production for the quarter of approximately 300,000 silver ounces and 1.5 million silver equivalent1 ounces, representing decreases of 24% and 9%, respectively, when compared to Q1, 2018, and a decrease of 46% and an increase of 24%, respectively, year-over-year. Consolidated cash costs2 for the quarter were approximately negative ($6.15) per silver ounce, a decrease of 125% when compared to Q1, 2018 and 185% year-over-year, while consolidated all-in sustaining costs2 (“AISC”) were approximately $5.40 per silver ounce, a decrease of 13% when compared to Q1, 2018 and 49% year-over-year. Cosalá Operations milled tonnage increased by 13% over Q1, 2018 as San Rafael continued to successfully ramp up both mining and milling rates in the second quarter of commercial production. As a result, silver production increased to approximately 90,000 silver ounces and 1.0 million silver equivalent ounces during the quarter, representing increases of 19% and 10%, respectively, when compared to Q1, 2018. Cash costs were approximately negative ($60.13) per silver ounce and AISC were approximately negative ($41.66) per silver ounce representing a decrease of 15% when compared to Q1, 2018. As previously announced, Galena Complex production for the quarter was negatively impacted by two separate issues at its No.3 Shaft that inhibited normal hoisting for approximately 27 days in total. As a result, the Complex produced approximately 210,000 silver ounces and 420,000 silver equivalent ounces, representing decreases of 35% and 37%, respectively, when compared to Q1, 2018, and decreases of 34% and 31%, respectively, year-over-year. Cash costs were approximately $18.36 per silver ounce and AISC were approximately $26.77 per silver ounce. The issues impacting second quarter production are not expected to affect production in the second half of the year. Guidance for 2018 remains unchanged at 1.6 – 2.0 million silver ounces and 7.2 – 8.0 million silver equivale...