USAS · Americas Gold and Silver Corporation

0001062993-26-003793

Summary

Americas Gold and Silver reported Q2 2026 consolidated silver production of 665,000 ounces and cash balance of US$89 million, reiterating 2026 silver guidance of 3.2-3.6 million ounces.

Key takeaways

Q2 2026 silver production of 664,971 oz, down 15% from Q1 due to electrical fire at Galena.
Galena No. 3 Shaft upgrades increased hoisting capacity by 150%, with record skipping rates in July.
Consolidated cash balance at June 30, 2026: US$89 million.
Company eliminated over US$85 million in variable future debt obligations.
Full-year 2026 silver guidance reaffirmed at 3.2-3.6 million ounces at AISC of $30-$35/oz.
Production weighted to H2 2026 as ramp-up continues.

Full analysis

The Q2 production results reflect temporary setbacks from an electrical fire at Galena and the planned weighting of production to the second half. The Galena shaft modernization is a key catalyst, with record hoisting rates achieved in July, supporting future ramp-up. The strong cash position and debt elimination strengthen the balance sheet, positioning the company to execute its growth plan and meet full-year guidance.