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Americas Silver Corporation Reports Third Quarter 2018 Financial Results
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 third quarter 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. Third Quarter Highlights Production of 1.4 million consolidated silver equivalent ounces1, an increase of 27% year-over-year, including 0.3 million silver ounces. Revenue of $11.7 million and net loss of $5.8 million for the quarter or ($0.13) per share, an increase in revenue of 20% and an increase in net loss of 109% compared to Q3-2017, including $3.3 million of negative provisional pricing adjustments. Consolidated zinc production of 7.9 million pounds and lead production of 7.5 million pounds, increases of 451% and 40%, respectively. Cost of sales of $9.08/oz. equivalent silver, by-product cash cost2 of $4.95/oz. silver, and all-in sustaining cost2 (“AISC”) of $15.94/oz. silver for the quarter, representing year-over-year decreases of 1% and 61%, and an increase of 1%, respectively. Cost of sales of $8.46/oz. equivalent silver, by-product cash cost of negative ($1.31/oz.) silver, and AISC of $9.03/oz. silver for the first nine months of 2018, representing year-over-year decreases of 16%, 114%, and 31%, respectively. San Rafael achieved its goal of sustaining a milling rate of over 1,700 tonnes per operating day. The Galena Complex resumed normal operations in mid-July following hoist repairs completed late in Q2-2018. The Company entered into a definitive agreement with Pershing Gold Corporation (“Pershing Gold”) to complete a business combination. The combination will add an attractive gold-silver development project in Nevada with significant precious metal growth to the Company’s production profile. The Company had a cash balance of $3.1 million and working capital balance of $3.3 million as at September 30, 2018. During the quarter, cash cost, AISC and silver eq...