North America's Largest Upcoming Silver Producer: Americas Gold and Silver Company
Americas Gold and Silver Corporation Reports Q2 2025 Results and Strategic Advancements
Americas Gold and Silver Corporation, a growing North American precious metals producer based in Toronto, Canada, has reported its Q2 2025 results and outlined strategic advancements. The company, listed on both the Toronto Stock Exchange (TSX: USA) and the NYSE American (USAS), operates primarily in Idaho, USA (Galena Complex), and Mexico (Cosalá Operations), focusing on silver production while producing by-products such as zinc, lead, copper, and recently advancing recovery of antimony.
Silver Production Soars
In Q2 2025, Americas Gold and Silver achieved a consolidated silver production of 689,000 ounces, marking a significant 36% year-over-year increase and a 54% quarter-over-quarter growth. This surge is primarily attributed to operational improvements at the Galena Complex.
Revenue Dips but Financial Position Strengthens
Although Q2 2025 revenue stood at $27.0 million, representing a 19% decrease compared to Q2 2024, the company's financial position has improved. Americas Gold and Silver secured a $100 million senior secured term loan facility, with a first tranche of $50 million received in June 2025 to fund growth and development. The company's consolidated cash balance reached roughly $61.7 million at the end of Q2 2025, reflecting strong liquidity.
Net Loss Despite Production Growth
Despite the production growth, Americas Gold and Silver reported a net loss of $15.1 million for Q2 2025. This loss is primarily due to increased metals-based liabilities linked to rising precious metal prices, non-recurring corporate expenses, and the operational transition period. Adjusted EBITDA was also negative at -$4.1 million for the quarter.
Operational and Strategic Developments
At the Galena Complex, metallurgical testing has shown over 90% antimony recovery, opening a new revenue stream from what was previously considered a penalty element in the ore. This development could make the company the only current antimony producer in the U.S. Exploration success at Galena includes the identification of a high-grade upper extension of the 149 Vein, with exceptional silver and copper grades, supporting the potential for expanded production and improved operational efficiency.
The Cosalá Operations are transitioning to focus on the silver-copper rich EC120 deposit, driving improvements in silver output but temporarily reducing zinc and lead volumes. The company also completed a share consolidation in August 2025 to optimize the share structure.
Looking Ahead
Americas Gold and Silver is currently undergoing a strategic transformation emphasizing silver production growth, operational efficiency, and financial strengthening despite transitional pressures. Their progress in antimony recovery and high-grade vein exploration highlights potential future growth avenues.
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