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Americas Silver Corporation Reports Second Quarter 2019 Financial Results
TORONTO--(BUSINESS WIRE)--Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver” or the “Company”), a growing North American precious m
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”), a growing North American precious metals producer, today reported consolidated financial and operational results for the second quarter of 2019. 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. Second Quarter Highlights Revenue of $15 million and net loss of $8 million for the quarter or ($0.11) per share, a decrease of $2.3 million in revenue and an increase in the net loss of $9.4 million compared to Q2-2018 due primarily to lower realized metal prices, higher treatment and refining charges, non-reoccurring expenses associated with the Pershing Gold Corporation (“Pershing Gold”) acquisition, incremental interest and financing costs, loss on derivative instruments associated with the Sandstorm Gold Ltd. (“Sandstorm”) convertible debenture and non-cash share-based payments. Relief Canyon Mine construction and costs are proceeding as expected with leach pad liner installation progressing, and mobilization of the mining contractor and all fabrication work on the crusher and conveyors progressing to meet scheduled delivery in the third quarter. First gold pour is expected in late Q4-2019. 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 $4.00 to $6.00 per silver ounce and AISC of $10.00 to $12.00 per silver ounce. For the first half of 2019, consolidated silver production of approximately 3.4 million silver equivalent ounces1 and 0.7 million silver ounces at consolidated cash costs2 of approximately $3.60 per silver ounce and consolidated all-in sustaining costs2 (“AISC”) of approximately $10.50 per silver ounce. Pre-reported second quarter consolidated silver production of approximately 1.7 million silver equivalent ounces and 0.3 million silver ounces, representing an increase of 15% year-over-year to both silver and ...