Americas Gold and Silver increased consolidated silver production by 52% to 2.65 million ounces in 2025, delivering consolidated revenue of $118 million, up 18% from the prior year, driven by operational improvements at Galena and EC120 pre-production sales worth $45 million.

In December 2025, Americas closed a $132 million bought deal financing alongside the strategic acquisition of the Crescent Mine in Idaho, and secured a senior secured term loan facility for up to $100 million, receiving the first $50 million tranche to finance expansion at the Galena Complex.

The Galena Complex underwent planned shaft upgrades, achieving 20 days of shutdown to complete No. 3 and Coeur Shaft enhancements, with Phase II on track to increase hoisting capacity by 160% to 105 stph, and entered a multi-metal offtake agreement for processing at Trail Operations to secure concentrate capacity.

For 2026, the company forecasts silver output of 3.2–3.6 million ounces at an AISC of $30–35 per ounce, with capital expenditures of $90–120 million and exploration spending of $15–20 million, underpinned by a record 64,000-metre drill program and infrastructure projects including a new antimony processing JV.