Americas Gold and Silver Logs Record Q1 Silver Output and 187% Revenue Jump
USAS•Americas Gold and Silver reported Q1 consolidated silver production of 787,000 ounces and record sales of 830,000 ounces, lifting revenue to $67.8 million, up 187% year-over-year. It declared commercial production at EC120 in Cosalá and formed a 51% joint venture for an antimony processing plant in Idaho.
1. Q1 Production and Financial Results
Americas Gold and Silver recorded consolidated silver production of 787,000 ounces in Q1, a 76% increase year-over-year, and achieved record sales of 830,000 ounces, including 425,000 ounces at Galena and 362,000 ounces at Cosalá. Revenue rose to $67.8 million, a 187% increase, and net income reached $10.0 million ($0.03 per share) compared to a $19.7 million loss last year, with adjusted EBITDA of $33.6 million.
2. Cosalá EC120 Commercial Production and Antimony JV
The high-grade EC120 circuit at Cosalá was declared in commercial production, driving a 174% increase in silver output at that operation. In February, the company formed a 51% joint venture with United States Antimony to build and operate an antimony processing plant in Idaho’s Silver Valley, securing domestic supply of this critical mineral.
3. 2026 Guidance and Cost Metrics
For 2026, the company targets consolidated silver production of 3.2–3.6 million ounces at all-in sustaining costs of $30–35 per ounce, with total capital expenditures of $90–120 million, including $30–40 million at the Crescent Mine, and exploration spending of $15–20 million. Cash and cash equivalents stood at $122.4 million with working capital of $66.8 million, while cost of sales, cash costs, and AISC averaged $25.42, $23.57, and $34.12 per ounce, respectively.
