Americas Gold & Silver Reports Lower Prices, Higher Costs in 2Q — Commodity Comment

By Adriano Marchese


Americas Gold & Silver Corp. revenue fell in the second quarter as the prices of silver and lead were lower coupled with higher costs in the period, despite stable production.


On production:

“Despite higher silver equivalent production in 1Q-2022 compared to 1Q-2022, revenue decreased by approximately US$6.5 million as a result of lower silver and lead prices, lower final settlements on concentrate sales, and higher treatment and refining costs,” the Canadian mining company said.

“The company previously reported 2Q-2022 consolidated attributable production of approximately 300,000 silver ounces and 1.34 million silver equivalent ounces.”

“Silver production was unchanged quarter-over-quarter and increased 115% year-over-year. Silver equivalent production increased by over 5% quarter-over-quarter and over 475% year-over-year.”


On outlook:

“The company’s silver and silver equivalent production guidance remains unchanged at 1.4 million to 1.8 million ounces and 4.8 million to 5.2 million ounces, respectively for 2022.”

“We have stayed on track to meet our silver and silver equivalent production as well as our cost guidance despite the many challenges in the first half of the year including the Cosala Operations start-up, persistent Covid challenges, volatile metal prices, increasing inflationary costs and delays throughout the supply chain.”


Write to Adriano Marchese at adriano.marchese@wsj.com


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