Americas Gold and Silver reports record output as Q3 costs rise
The silver producer narrowed its net loss to US$5.6 million, while quarter-end cash fell to US$63.3 million.
Mara Quinlan
Americas Gold and Silver Corporation TSEUSA NYSEAMERICANUSAS said on Friday that record third-quarter silver output of 800,458 ounces came with all-in sustaining costs of US$42.94 per ounce sold. Higher output and realized prices lifted quarterly revenue to US$51.4 million from US$30.6 million, narrowing the net loss to US$5.6 million.
Shares fell 5.5 per cent to C$3.98 at Thursday's 4:00 p.m. EST close on the Toronto Stock Exchange TSEUSA, before Friday's results.
Consolidated all-in sustaining costs rose to US$42.94 per silver ounce sold in the third quarter from the US$40.63 reported for the second quarter. Cash costs also increased to US$29.66 from US$25.68 per ounce sold over the same period.
Cash fell to US$63.3 million at Sept. 30 from US$88.9 million at June 30. Management now expects 2026 silver production at the low end of its range of 3.2 million to 3.6 million ounces, with sustaining costs at the high end of guidance.
The annual sustaining-cost range remains US$30 to US$35 per silver ounce sold, below the US$39.16 reported for the first nine months of 2026. Cash costs and all-in sustaining costs are non-GAAP measures.
Cosalá in Sinaloa, Mexico, produced 415,879 ounces of silver in the third quarter, up 28 per cent year over year. The company attributed the increase to higher grades at EC120 across fewer tonnes.
The Galena complex in Idaho made progress recovering from the prior quarter's temporary production interruptions, the company said.
"Strong grades and stable mining rates at EC120, our flagship operation, continue to demonstrate the quality of the orebody and the significant value creation potential embedded within the district," chief executive Paul Andre Huet said in the release.
The third-quarter net loss narrowed to US$5.6 million from US$16.5 million a year earlier. The improvement reflected higher revenue and the absence of losses on metals contract liabilities following their settlement in the second quarter.
The third-quarter adjusted loss widened to US$4.9 million from US$4.3 million a year earlier, despite the smaller reported loss.
Reported liquidity of US$113 million at Sept. 30 includes US$50 million available only if conditions under its US$100 million term-loan facility are met. That conditional borrowing capacity is separate from the quarter-end cash balance.
Silver peer Aya Gold & Silver Inc. TSEAYA NASDAQAYA reported on Thursday that third-quarter revenue reached US$103 million and net income US$35 million in its results.
Read more: Aya Gold & Silver reports record Q3 output as cash costs fall 25 per cent
Management will discuss the quarter on a conference call at 11:00 a.m. EST on Friday.
