Business
Americas Silver Corporation Reports Fourth Quarter and Year-End 2018 Financial Results and Provides 2019 Guidance
TORONTO--(BUSINESS WIRE)--Americas Silver Corporation (TSX:USA) (NYSE American:USAS) (“Americas Silver” or the “Company”) today reported consolidated financial
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 reported consolidated financial and operational results for the fourth quarter and year-end of 2018. 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 Silver Corporation SEDAR profile at www.sedar.com, on its EDGAR profile at www.sec.gov, and are also available on the Company’s website at www.americassilvercorp.com. All figures are in U.S. dollars unless otherwise noted. Fourth Quarter and Year-End Highlights Revenue of $68.4 million in 2018 compared to revenue of $54.3 million in 2017, an increase of 26%, despite significantly lower metal prices in the second half of 2018. Net cash generated from operating activities in 2018 of $9.0 million compared to net cash flow generated from operating activities of $1.6 million in 2017. Net loss of $10.7 million for the year or ($0.25) per share, compared to a net loss of $3.5 million or ($0.09) per share in 2017, an increase in net loss of 208% and net loss per share of 178% compared to fiscal 2017. The increase in net loss was due to lower metal prices and increases in non-cash and non-reoccurring items, including asset write-downs, a tax contingency, and transaction costs. The Company entered into a definitive agreement with Pershing Gold Corporation (“Pershing Gold”) to complete a business combination at the end of September 2018 (the “Transaction). The parties to the Transaction are currently awaiting regulatory approval by the Committee of Foreign Investment in the United States (“CFIUS”). Year-end production of 6.3 million consolidated silver equivalent ounces1, an increase of 32% year-over-year, including 1.4 million consolidated silver ounces. Fourth quarter production of 1.8 million consolidated silver equivalent ounces, an increase of 32% year-over-year, including 0.4 million consolidated silver ounces. Year-end consolidated zinc production of 34.2 million pounds and lead production of 30.5 million pounds, increases of 194% and 20%, respectively. Cost of sales of $8.29/oz. equivalent silver, by-product cash cost2 of negative ($0.63/oz.) silver, and all-in sustaining cost3 ...