Americas Gold And Silver Targets Up to 4 Million Ounces Silver in 2026 with $90–120 Million Capex
Americas Gold And Silver forecasts 2026 silver output of 2.2–2.6 million ounces at Galena and 1.2–1.4 million ounces from Mexico while planning $90–$120 million in capex. The miner reported a $87 million net loss for 2025 and achieved a record 1.2 million-ounce annual silver output at Cosala.
1. 2025 Financial Results
Americas Gold And Silver reported a net loss of $87 million for fiscal 2025, worsening from a $49 million loss in 2024. The company achieved a record annual silver output of 1.2 million ounces at Cosala, marking its highest quarterly and yearly production to date.
2. 2026 Production Guidance
For 2026, the miner expects to produce 2.2–2.6 million ounces of silver at its Galena mine and 1.2–1.4 million ounces from its Mexican operations. The guidance reflects ongoing ramp-up as it commissions a new shaft and batch plant to boost throughput.
3. Capital Projects and Discoveries
Total capital expenditures are budgeted at $90–$120 million, with $60–$80 million earmarked for growth initiatives and $30–$40 million for sustaining assets, plus $15–$20 million for exploration. Key projects include a Galena shaft upgrade, a paste plant installation, an internal study at Relief Canyon, expansion of the Antimony JV in Idaho and drilling at the Alacran discovery north of San Rafael.