Americas Gold and Silver Corporation reported that it produced a record 787,000 ounces of silver in the first quarter of 2026, a 76% increase over the 446,000 ounces produced in the same period in 2025. The company also sold a record 830,000 ounces of silver during the quarter, a figure that reflects both the higher production volume and a timing adjustment for concentrate sales that shifted a portion of the output into the reporting period.
The record output was driven by the continued ramp‑up at the Galena Complex and the Cosalá Operations. Galena contributed 424,686 ounces while Cosalá added 362,239 ounces, underscoring the effectiveness of the Phase 2 upgrades to the No. 3 shaft and the construction of a new surface paste fill plant. These projects have increased skipping capacity and reduced stope cycle times, allowing the company to bring more ore to the concentrator each day.
In addition to silver, the company produced 2.0 million pounds of lead, 967,000 pounds of copper and 137,000 pounds of antimony in Q1 2026. A cash balance of $122.6 million as of March 31 2026 provides a strong liquidity cushion to support ongoing capital deployment and the company’s full‑year 2026 guidance of 3.2–3.6 million ounces of silver at an all‑in sustaining cost of US$30–35 per ounce.
Operationally, the company completed the first phase of the No. 3 shaft upgrade ahead of schedule in September 2025, and Phase 2 is now underway with a projected completion in the second half of 2026. The new paste fill plant is also progressing, and the company has maintained a one‑year record of zero lost‑time accidents at both Galena and Cosalá. Strategic moves include the acquisition of the Crescent Silver Mine in December 2025 and a joint venture with US Antimony in February 2026 to build an antimony processing hub at Galena.
The combination of record production, strong cash reserves, and continued investment in infrastructure signals robust execution of the company’s growth plan. The maintained guidance for 2026, coupled with the operational momentum, suggests that the company is well positioned to sustain higher output and cost control in the second half of the year, reinforcing confidence in its long‑term trajectory.
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