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$ USAS. I hope you got everything straightened out ok. I am very busy with my stocks today also. Have a good day and maybe these stocks will start moving north. GO > $ USAS
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84203178/americas-gold-and-silver-announces-closing-of-c-33
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
thanks Jerry today is date day so won't be on the computer very long.
Hawd an interesting experience yesterday
I had to check with my bank about a deposit. after the usual thing on the phone with ID's I got to talk with a person.
Had to get some more verifications Thise question were not from what I gave the bak years ago but
stuff from my past and family members. The one was the age of a daughteer in law the thing is we have 2 with the same first name with out knowing the 2nd I could not answer correctly. Then I had to verify my tax retrunds from the accountant the same lin of verify questions came up. I hav e no idea where they got those and both the ame. I fear Googole did it and I seldom am on Google. I know they store everythng in huge ware houses. each is 6 acres in sizze near Omaha and they have dozens of them and building more.
$ USAS. I am sating pretty good with all my precious metal & lithium type Stocks and like you, I use to do work on my cars and such but I leave that type of work to people who are trained in that field now. USAS and all stocks need a little awareness so I will be posting my one sticky in the I-Box as new News comes out. Have a good week and I hope all your other stocks do good as well. GO > $ USAS
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84203178/americas-gold-and-silver-announces-closing-of-c-33
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
I'm not very mechanical nor tec savy. Years ago I did change my own oil. One day I was attempting to change a wiper blade. After aabout a 1/2 hour I got a phone call. came back out my 9 year old son laughed at me, he changedw the wiper.. I was on the phone may 5 min. When I was growing up I couldn't drive a nail straight nor saw a board on the line. In high school I got a summer job in a metal factory. I was a disastor. broke cutting teeth almost every day. DOn't know why they kept me. I can drive a car truck or skid steer but don't ask me to do anything else with them
Today was a change possitions day. Yesterday FTCO anounced they were going to pay .24 a year by the mnth. that was a little over 5%. Today I stripped several off my div companies to reinvest there> I got that stock as aspin off from GORO which pays monthy I had some odd lots in a few of the accounts so had purchased to fill them to rounds. Should have added a whole lot. As of today I am nearing my capacity for any holding.
I'm still looking to add af eew to mnxxf to capture that div April 12
As for USAS I am at full capcity so just watching and waiting. It feels like gold/silver may have bottomed HUI XAU both mooving up often they preceed metal.
Tommorow is date day so won't have much time to watch market. Good thing I got what I could done today and it took almost the entire day no lunch. When done went for a long walk.
All the metals boards seem quite some of the rare earths are active as you well know.
$ USAS. It's time-consuming at times and I have done my own work on keeping my computer up to date for many years and I clean it up every weekend and I check the stocks I own for any updates that may be coming up also every weekend. I look over my average on them and look to see if I need to average down on any because I own several and some I don't look at daily. USAS did as many companies do, raise money at times just to make sure they don't get in a pinch paying their bills during the year and that is a good idea IMO. I am satisfied with the average I have with USAS and I added some shares yesterday for the longer term. GO > $ USAS
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84203178/americas-gold-and-silver-announces-closing-of-c-33
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
I was wondering why they either took out a loan or did a secondary.
I could never be a mod I am not etc savy enough to do it I can't figure out some of the past and post I see done. Tried but neveer get it right. Get an update from apple or microsoft of the printer an I have to get geek squad guy to get some of the stuff running again. Now my wifes Ipad can print and we tried everything they told us to do Won't call Canyon again the last time they removed the icon so I had to go to prefernce and make extra steps plus my color and multiple page selection was gone Geek squad had to fix it.
$ USAS. I have been in this stock for a long time and decided to go up as a MOD today where I could post the News in the Sticky as it comes out, plus I feel like it is a drawback for any stock not to have a MOD on board. I look for USAS to move north this year and they have the funds to get involved with other companies IMO. GO > $ USAS
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84203178/americas-gold-and-silver-announces-closing-of-c-33
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
Hi Jerry I have been in this a while have what I consider my full boat so not adding any as of now.
But this would be a good entry if anyone is not to the max they allocate per stock. SIlve may out perform gold this year% wise jmo Did you know every one of the solor rays has 3/4 oz of silver and the government is pussing for more of those.
$ USAS. Americas Gold and Silver Corporation Reports Full-Year 2020 Financial Results and Provides Operational Update
Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, reports consolidated financial and operational results for the year ended December 31, 2020, along with an operational update.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210322005227/en/
Figure 1: Long Section (Looking West) depicting some significant intercepts from East Coeur drilling (Photo: Americas Gold and Silver Corporation)
Figure 1: Long Section (Looking West) depicting some significant intercepts from East Coeur drilling (Photo: Americas Gold and Silver Corporation)
This earnings release should be read in conjunction with the Company’s Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on the Americas Gold and Silver Corporation SEDAR profile at www.sedar.com, and on its EDGAR profile at www.sec.gov, and which are also available on the Company’s website at www.americas-gold.com. All figures are in U.S. dollars unless otherwise noted.
Highlights
Revenue of $27.9 million and a net loss of $30.1 million for 2020 or a loss of ($0.24) per share including a $9.0 million net loss in Q4-2020.
Consolidated operating metrics from 2020 were generally not comparable to 2019 due to the illegal blockade at the Cosalá Operations, suspension of operating metrics during the Galena Recapitalization Plan (“Recapitalization Plan”) implementation and the continued ramp-up of operations at Relief Canyon with commercial production declared effective January 11, 2021.
The Galena Complex had a strong finish to the year with Q4-2020 production of 294,000 ounces of silver and 6.0 million pounds of lead (503,500 ounces AgEq [1]) compared with 160,000 ounces of silver and 2.6 million pounds of lead in Q4-2019 (293,500 ounces AgEq), a year-over-year increase of over 70% on an AgEq basis.
The Company continues to benefit from the success of the Phase 1 drill program as part of the Recapitalization Plan, with current results from the East Coeur drilling, targeting the area between Galena’s historically prolific West Argentine mining front and the Coeur mine, yielding several high-grade intercepts.
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84203178/americas-gold-and-silver-announces-closing-of-c-33
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
$ USAS. Market Watch is showing that Silver is up today so USAS should make a move North some. GO > $ USAS
https://www.marketwatch.com/
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84203178/americas-gold-and-silver-announces-closing-of-c-33
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
$ USAS. Has plenty of funds to keep things going so it could drop some good news any time IMO. GO > $ USAS
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84203178/americas-gold-and-silver-announces-closing-of-c-33
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
$ USAS. Needs a little Awareness to get it moving north. GO > $ USAS
https://ih.advfn.com/stock-market/AMEX/americas-gold-and-silver-USAS/stock-news/84634450/americas-gold-and-silver-corporation-reports-full
Have owned a few shares in Americas Gold and Silver for years and it has been a disappointment. Did see that Sprott and Lassonde made recent investments and decided to give it another look.
Watched this video and was encouraged about their 2021 and 2022 prospects. Projections are to grow from 13,000 ounces in 2020 to 80,000 in 2021 and then 120,000 ounces in 2022. If they can stick to those targets, the cash flow will be tremendous and the dilution of shares they made raising money will be well worth it.
https://www.kitco.com/news/2021-01-19/Silver-to-outperform-gold-this-year-says-Darren-Blasutti-how-miner-will-double-production.html
Added to my position last week and plan to keep a close eye on this one and do so again if I see progress over the next month or two
FYI - I did have a bit of a problem finding this Message Board. It did not come up when I searched by company name - the symbol is correct - USAS, but the name should be Americas Gold and Silver Corp NOT American Silver Corp. It might make it easier for others to find if that can be changed.
$ USAS. Legend Pierre Lassonde Has Been Aggressively Buying This Mining Stock, His Top Pick For 2021 February 23, 2021
https://kingworldnews.com/pierre-lassonde-has-been-aggressively-buying-this-mining-stock-his-top-pick-for-2021/
Legend Pierre Lassonde has been aggressively buying this mining stock, his top pick for 2021. Lassonde is arguably the greatest company builder in the history of the mining sector. He is past President of Newmont Mining, former Chairman of the World Gold Council, and former Chairman of Franco Nevada. Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.
Great Value In Mining Stocks
Eric King: “Pierre, some of these large-cap mining stocks have become value plays. And there is even more value as you start to go down the line, particularly into some of the smaller stocks. We invest alongside each other and we have been buying a company called America’s Gold & Silver. I invested 7 figures into that (stock), Pierre, and I know you own 5% of the company.”
America’s Gold & Silver: All Of The Upside For Free
Pierre Lassonde: “In the mid-cap (mining stock space) there are a number of stocks that I really like. And I like stocks that have a lot of optional values. Meaning that you are buying the existing asset but then you are getting all of the upsides for free.
The Discovery Of A New Silver Zone
And America’s Gold & Silver (symbol USAS in the United States and the USA in Canada) is one of those where if you look at the results that they’ve been putting out on their Galena property, the intercepts that they are seeing, and the discovery of the new silver zone in the hundreds of grams per tonne (800-900 grams per tonne silver), I mean it is fascinating, it is really interesting. Plus there is like 2%-5% copper on top of that. And so in terms of equivalent, you are looking at 40+ ounces of gold equivalent per tonne. Well, that’s like $1,000+ per tonne material, like something the ‘old timers’ would see. Plus they are finally getting good results at Relief Canyon — their gold project.
GO > $ USAS
r2g2 thanks; Legend Pierre Lassonde Has Been Aggressively Buying This Mining Stock, His Top Pick For 2021
February 23, 2021
https://kingworldnews.com/pierre-lassonde-has-been-aggressively-buying-this-mining-stock-his-top-pick-for-2021/
Legend Pierre Lassonde Has Been Aggressively Buying This Mining Stock, His Top Pick For 2021
Legend Pierre Lassonde has been aggressively buying this mining stock, his top pick for 2021. Lassonde is arguably the greatest company builder in the history of the mining sector. He is past President of Newmont Mining, former Chairman of the World Gold Council and former Chairman of Franco Nevada. Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.
Great Value In Mining Stocks
Eric King: “Pierre, some of these large cap mining stocks have become value plays. And there is even more value as you start to go down the line, particularly into some of the smaller stocks. We invest alongside each other and we have been buying a company called America’s Gold & Silver. I invested 7 figures into that (stock), Pierre, and I know you own 5% of the company.”
America’s Gold & Silver: All Of The Upside For Free
Pierre Lassonde: “In the mid-cap (mining stock space) there are a number of stocks that I really like. And I like stocks that have a lot of optionally values. Meaning that you are buying the existing asset but then you are getting all of the upside for free.
The Discovery Of A New Silver Zone
And America’s Gold & Silver (symbol USAS in the United States and USA in Canada) is one of those where if you look at the results that they’ve been putting out on their Galena property, the intercepts that they are seeing, and the discovery of the new silver zone in the hundreds of grams per tonne (800-900 grams per tonne silver), I mean it is fascinating, it is really interesting. Plus there is like 2%-5% copper on top of that. And so in terms of equivalent, you are looking at 40+ ounces of gold equivalent per tonne. Well that’s like $1,000+ per tonne material, like something the ‘old timers’ would see. Plus they are finally getting good results at Relief Canyon — their gold project.
Unlocking Value
And it looks like they are finally going to get started back in Mexico. They are getting agreements done with all of the various parties. They are finally getting that sorted out with the help of the federal government. So things are finally coming together and the stock is selling for less than .4 NAV (Net Asset Value). Well, I love buying a thing for 40 cents on the dollar and then being able to sell them at full (plus rising) NAV. And that’s why I’ve been saying to you that it’s a great deal and why I’ve been picking up stock in the market. And yes, I do own about 5% of the company.”
MUST LISTEN: In this audio interview Pierre Lassonde shares with KWN listeners around the world what they should be doing with their money right now in the gold and silver sector as well as discussing where the price of gold is headed and why he is so bullish and you can listen to the interview by CLICKING HERE OR ON THE IMAGE BELOW.
Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Gold and Silver” or the “Company”), a growing North American precious metals producer, is pleased to announce that the Relief Canyon mine, located in Nevada, United States, has declared commercial production effective January 11, 2020.
Highlights
First gold poured February 2020.
Since the return of the Company’s large radial stacker in December, the operation has consistently met the required stacking rates, which was the final item required to declare commercial production.
Full ramp-up from the operation targeted by mid-May 2021.
“I am pleased to announce that Relief Canyon has achieved commercial production following a challenging 2020,” stated Americas Gold and Silver President & CEO Darren Blasutti. “The Relief Canyon team worked hard to overcome the common teething pains in commissioning a new operation, the impact of the COVID-19 pandemic, and the failure of our large radial stacker. I look forward to a successful 2021.”
definitely welcome news this is a sleeper.
Nice development...pps should rise. Metals are in a longer upmove trend, company delivers strong news. 5 Dollar should be possible in the near future...
BREAKING NEWS: $USAS Americas Gold and Silver Provides Update on Relief Canyon
Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), is pleased to provide an update on the continued successful ramp-up of the Relief Canyon mine in Nevada as it progresses towards commercial production. Th...
In case you are interested USAS - Americas Gold and Silver Provides Update on Relief Canyon
Seeking Alpha Article by Don Durrett
Here is a link to an article - How to Ride this PM Bull Market to the Top -
by Don Durrett. America's Gold & Silver is one of the top companies he
recommended to be invested in during this run.
The link to the article can be found below.
How To Ride This Precious Metals Bull Market To The Top
https://seekingalpha.com/article/4376036-how-to-ride-this-precious-metals-bull-market-to-top
Americas Gold And Silver Provides Update On Relief Canyon
Americas Gold and Silver Corporation Logo (PRNewsfoto/Americas Gold and Silver)
NEWS PROVIDED BY
Americas Gold and Silver Corporation
Sep 10, 2020, 07:00 ET
SHARE THIS ARTICLE
https://www.prnewswire.com/news-releases/americas-gold-and-silver-provides-update-on-relief-canyon-301127087.html
TORONTO, Sept. 10, 2020 /PRNewswire/ -- Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) ("Americas" or the "Company"), a growing North American precious metals producer, today provides an update on the ramp-up of the Relief Canyon mine toward commercial production.
Highlights
Since placing first ore on the 6W leach pad on August 4, 2020, leach solution grade coming from the pad has increased significantly and is operating within expected norms.
Continued improvements to operating practices will improve consistency of heap performance and reduce operating costs.
Commercial production remains targeted for Q4-2020.
"The Company is thrilled to report that the new section of the leach pad is operating according to plan" stated Americas President and CEO Darren Blasutti. "Leach solution grade has bumped up nicely which bodes well for continued increases in gold production and a strong finish to the year. We remain committed to declaring commercial production before the new year."
On August 4, 2020, the Company began stacking higher-grade ore from lower levels of the pit and applied revised and improved operating practices. Based on a month of operating data, the Company is pleased to report that the leach solution grade from the pad has significantly increased and modelled leach recovery is trending towards feasibility levels.
As highlighted previously, the operation is currently employing a temporary stacker with a capacity of approximately 8,000 tonnes per day. With the reduced stacking rate, the Company is taking the opportunity to prioritize waste stripping as the operation currently has a large run of mine ore stockpile of over 200,000 tons. With the increased waste stripping, the Company will have added operational flexibility to optimize production moving forward. The return of the radial stacker, with a capacity of 16,000 tonnes per day, is scheduled for mid-Q4-2020.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth, precious metals mining company with multiple assets in North America. The Company's newest asset, the Relief Canyon mine in Nevada, USA, has poured first gold and is expected to ramp up to full production over the course of 2020. The Company also owns and operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company has completed the outstanding option acquisition agreement for the San Felipe development project in Sonora, Mexico, subject to closing conditions. For further information, please see SEDAR or www.americas-gold.com.
For more information:
Stefan Axell
Darren Blasutti
VP, Corporate Development & Communications
President and CEO
Americas Gold and Silver Corporation
Americas Gold and Silver Corporation
416-874-1708
416–848–9503
Qualified Persons
Daren Dell, Chief Operating Officer, who is an employee of the Company and a "qualified person" under National Instrument 43-101, has approved the applicable contents of this news release.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, Americas Gold and Silver's expectations, intentions, plans, assumptions and beliefs with respect to, among other things, estimated production rates and results for gold, silver and other precious metals, as well as the related costs, expenses and capital expenditures, the Company's construction, production, development plans and performance expectations at the Relief Canyon Mine, its ability to finance, develop and operate Relief Canyon, including the anticipated timing of commercial production at Relief Canyon. Often, but not always, forward-looking information can be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "intend", "potential', "estimate", "may", "assume" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future events or performance. Forward-looking information is based on the opinions and estimates of Americas Gold and Silver as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of Americas Gold and Silver to be materially different from those expressed or implied by such forward-looking information. With respect to the business of Americas Gold and Silver, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreak including the COVID-19 pandemic; the impact of COVID-19 on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, the risks in connection with the operations, cash flow and results of the Company relating to the unknown duration and impact of the COVID-19 pandemic; interpretations or reinterpretations of geologic information; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms or at all; the ability to develop, complete construction, bring to production and operate the Relief Canyon Project; and risks associated with the mining industry such as economic factors (including future commodity prices, currency fluctuations and energy prices), ground conditions and other factors limiting mine access, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities, labor relations or disruptions, social and political developments and other risks of the mining industry. The potential effects of the COVID-19 pandemic on our business and operations are unknown at this time, including the Company's ability to manage challenges and restrictions arising from COVID-19 in the communities in which the Company operates and our ability to continue to safely operate and to safely return our business to normal operations. The impact of COVID-19 on the Company is dependent on a number of factors outside of its control and knowledge, including the effectiveness of the measures taken by public health and governmental authorities to combat the spread of the disease, global economic uncertainties and outlook due to the disease, and the evolving restrictions relating to mining activities and to travel in certain jurisdictions in which it operate. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward–looking information is available in Americas Gold and Silver's filings with the Canadian Securities Administrators on SEDAR and with the SEC. Americas Gold and Silver does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Americas Gold and Silver does not give any assurance (1) that Americas Gold and Silver will achieve its expectations, or (2) concerning the result or timing thereof. All subsequent written and oral forward–looking information concerning Americas Gold and Silver are expressly qualified in their entirety by the cautionary statements above.
SOURCE Americas Gold and Silver Corporation
Related Links
http://www.americas-gold.com
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Gold & Silver bulls starting to break out > ^ > ^ > ^
Americas Gold and Silver Announces Closing of C$39.4 Million Bought Deal Financing
CNW GroupSeptember 4, 2020
TORONTO, Sept. 4, 2020 /PRNewswire/ --
Americas Gold and Silver Corporation (the "Company") (TSX: USA;
NYSE American: USAS) is pleased to announce that it has closed its
previously announced and upsized bought deal financing with a syndicate
of underwriters co-led by Desjardins Capital Markets and Cormark
Securities Inc., and including Stifel GMP, Clarus Securities Inc., and
Laurentian Bank Securities Inc., (collectively the "Underwriters").
A total of 10,204,510 common shares of the Company (the "Common
Shares"), including the partial exercise of the over-allotment option
by the Underwriters, were sold at a price of C$3.86 per Common Share,
for aggregate gross proceeds to the Company of C$39,389,409 (the
"Offering").
The net proceeds from the sale of the Common Shares will be used for the exploration, development and/or improvement of the Company's existing mine properties, including those relating to bringing Relief Canyon into commercial production and for working capital and general corporate purposes, as detailed in the Prospectus (as defined below).
The Offering was made pursuant to a short form prospectus (the "Prospectus") dated August 31, 2020 filed in all the provinces of Canada excluding Quebec. A copy of the Prospectus is available under the Company's profile on SEDAR at www.sedar.com.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the "United States" or to, or for the account or benefit of, persons in the "United States" or "U.S. persons" (as such terms are defined in Regulation S under the U.S. Securities Act) except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company's newest asset, the Relief Canyon mine in Nevada, USA, has poured first gold and is expected to ramp up to full production over the course of 2020. The Company also owns and operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company has recently completed the outstanding option acquisition agreement for the San Felipe development project in Sonora, Mexico, subject to closing conditions. For further information, please see SEDAR or www.americas-gold.com.
For more information:
Stefan Axell
Darren Blasutti
VP, Corporate Development & Communications
President and CEO
Americas Gold and Silver Corporation
Americas Gold and Silver Corporation
416-874-1708
416–848–9503
Cautionary Statement on Forward-Looking Information:
This press release contains certain statements that constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), which reflects management's expectations regarding the Company's future growth and business prospects and opportunities. Forward-looking statements include, without limitation, including the anticipated use of proceeds of the Offering, and possible events, conditions or results of operations, future economic conditions expectations and anticipated courses of action, including the Company's ability to finance, develop, achieve commercial production at and operate Relief Canyon and the expected timing and completion of the Company's exercise of its option to acquire the San Felipe development project. Although the forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements are based upon assumptions, opinions and analysis that management believes to be reasonable and relevant but that may prove to be incorrect. The Company cautions you not to place undue reliance upon any such forward-looking statements.
Americas Gold and Silver Corporation TSE:USA
Alternate Symbol(s): USAS
CORPORATE PRESENTATION JULY 2020
https://www.americas-gold.com/site/assets/files/5498/presentation20200805.pdf
https://www.americas-gold.com/
Relief Canyon
Mining in Nevada
Nevada has the second largest gold reserves in the world. It has 23 major gold mines, produces five million ounces of gold annually, and has produced more than 152 million gold ounces since 1835. Nevada has a stable tax regime, robust legal framework, streamlined permitting process, nearby infrastructure and unparalleled access to qualified labor. It is ranked by the Fraser Institute as the fourth most mining friendly jurisdiction in the world.
Relief Canyon Mine and Processing Facility
The Relief Canyon Mine is located in Pershing County, Nevada. The project encompasses an open pit mine and heap leach processing facility. Americas Gold and Silver is currently permitted to begin mining and processing at Relief Canyon under the existing Plan of Operations.
Americas Gold and Silver's landholdings cover approximately 25,000 acres that include the Relief Canyon Mine asset and lands surrounding the mine in all directions. This land package provides Americas Gold and Silver with the opportunity to expand the Relief Canyon deposit and to explore and make new discoveries on nearby lands.
The existing gold recovery plant has the capacity to handle three thousand gallons per minute of gold bearing solution. The leach pad is permitted to hold 21 million tons and can be readily expanded. A crushing and conveying system will be constructed to allow ore placement of over 6 million tons per year. The facility is conveniently situated to process ore from future discoveries of satellite deposits.
Relief Canyon is situated at the southern edge of the Pershing Gold and Silver trend along the Humboldt Range. It is approximately 95 miles northeast of Reno, Nevada. Electricity is available on the property, and water is available from two wells located east of the processing plant. The City of Lovelock is located approximately 19 miles by road west-southwest of Relief Canyon.
Permitting
Currently, Americas Gold and Silver has all state and federal permits necessary to begin mining and heap leach processing operations. Americas Gold and Silver is following a two-phase approach for project permitting. Phase I, which has been approved, is the re-purposing of previously approved disturbance for expanded mining to a pit bottom elevation of 5,080 feet, partial backfilling of the pit to eliminate formation of a pit lake, expanded exploration operations, full build-out of the heap leach pad to accommodate leaching of the Phase I ore, and construction of a new waste rock storage facility. This phase will carry the project through the first 30 months of operation. During this period the Company will pursue approval of the Phase II permits to allow production from the entire reserve. The key aspects of this phase involve further pit expansion and formation of a pit lake upon closure (i.e. no backfilling required). Technical data supporting the Phase II permit was submitted in June 2018 and accepted as complete in February 2019. It is anticipated that the Phase II permitting process will conclude in the second half of 2020.
Processing
The Relief Canyon mine has proven production history to show the ore is amenable to cyanide heap leach processing. More recent metallurgical test work on drill core and bulk samples has confirmed the viability of heap leach processing for additional resources identified within the proposed pit. The metallurgical test work covers all three distinct mineralized zones identified in geological modeling; Main, Lower, and Jasperoid.
The planned processing method is heap leach cyanidation of primary crushed ore (80% passing three inch) that has been agglomerated using cement and conveyor stacked in 20-foot lifts. The primary leach cycle lasts approximately 130 days.
The column-leach and permeability tests indicate that agglomeration is required in order to achieve hydraulic conductivity and a corresponding gold recovery on a consistent basis. There is also evidence that blending of low and high fines content material will aid hydraulic conductivity.
The Best Investment Advice by Warren Buffett & Charlie Munger | BerkshireHathaway 1999
397 views•Aug 16, 2020
Americas Gold and Silver Corporation TSE:USA
Alternate Symbol(s): USAS
CORPORATE PRESENTATION JULY 2020
https://www.americas-gold.com/site/assets/files/5498/presentation20200805.pdf
https://www.americas-gold.com/
Relief Canyon
Mining in Nevada
Nevada has the second largest gold reserves in the world. It has 23 major gold mines, produces five million ounces of gold annually, and has produced more than 152 million gold ounces since 1835. Nevada has a stable tax regime, robust legal framework, streamlined permitting process, nearby infrastructure and unparalleled access to qualified labor. It is ranked by the Fraser Institute as the fourth most mining friendly jurisdiction in the world.
Relief Canyon Mine and Processing Facility
The Relief Canyon Mine is located in Pershing County, Nevada. The project encompasses an open pit mine and heap leach processing facility. Americas Gold and Silver is currently permitted to begin mining and processing at Relief Canyon under the existing Plan of Operations.
Americas Gold and Silver's landholdings cover approximately 25,000 acres that include the Relief Canyon Mine asset and lands surrounding the mine in all directions. This land package provides Americas Gold and Silver with the opportunity to expand the Relief Canyon deposit and to explore and make new discoveries on nearby lands.
The existing gold recovery plant has the capacity to handle three thousand gallons per minute of gold bearing solution. The leach pad is permitted to hold 21 million tons and can be readily expanded. A crushing and conveying system will be constructed to allow ore placement of over 6 million tons per year. The facility is conveniently situated to process ore from future discoveries of satellite deposits.
Relief Canyon is situated at the southern edge of the Pershing Gold and Silver trend along the Humboldt Range. It is approximately 95 miles northeast of Reno, Nevada. Electricity is available on the property, and water is available from two wells located east of the processing plant. The City of Lovelock is located approximately 19 miles by road west-southwest of Relief Canyon.
Permitting
Currently, Americas Gold and Silver has all state and federal permits necessary to begin mining and heap leach processing operations. Americas Gold and Silver is following a two-phase approach for project permitting. Phase I, which has been approved, is the re-purposing of previously approved disturbance for expanded mining to a pit bottom elevation of 5,080 feet, partial backfilling of the pit to eliminate formation of a pit lake, expanded exploration operations, full build-out of the heap leach pad to accommodate leaching of the Phase I ore, and construction of a new waste rock storage facility. This phase will carry the project through the first 30 months of operation. During this period the Company will pursue approval of the Phase II permits to allow production from the entire reserve. The key aspects of this phase involve further pit expansion and formation of a pit lake upon closure (i.e. no backfilling required). Technical data supporting the Phase II permit was submitted in June 2018 and accepted as complete in February 2019. It is anticipated that the Phase II permitting process will conclude in the second half of 2020.
Processing
The Relief Canyon mine has proven production history to show the ore is amenable to cyanide heap leach processing. More recent metallurgical test work on drill core and bulk samples has confirmed the viability of heap leach processing for additional resources identified within the proposed pit. The metallurgical test work covers all three distinct mineralized zones identified in geological modeling; Main, Lower, and Jasperoid.
The planned processing method is heap leach cyanidation of primary crushed ore (80% passing three inch) that has been agglomerated using cement and conveyor stacked in 20-foot lifts. The primary leach cycle lasts approximately 130 days.
The column-leach and permeability tests indicate that agglomeration is required in order to achieve hydraulic conductivity and a corresponding gold recovery on a consistent basis. There is also evidence that blending of low and high fines content material will aid hydraulic conductivity.
The Best Investment Advice by Warren Buffett & Charlie Munger | BerkshireHathaway 1999
397 views•Aug 16, 2020
Americas Gold and Si (USAS)
3.105 ? -0.265 (-7.86%)
Volume: 1,218,355 @08/11/20 12:57:27 PM EDT
Bid Ask Day's Range
- - 3.08 - 3.24
USAS Detailed Quote
5 Best Gold and Silver Stocks to Buy Right Now
$USAS:
Silver up! 24 Dollar+...
Silver flying up AH. JPM could be in big trouble due to their years of collusive shorting.
USAS is finally going up!
News: $USAS Why Gold and Silver Miners Like Coeur Mining, First Majestic Silver, and Great Panther Mining Rallied on July 21
Shares of precious-metals miner Endeavor Silver (NYSE: EXK) rose as much as 17% on July 21. While the stock was one of the biggest gainers, it was hardly alone: Americas Gold and Silver (NYSEMKT: USAS) was up nearly 16%; Silvercorp Metals (NYSEMKT: SVMLF) nearly 13%; Fortuna Silver ...
Got this from USAS - Why Gold and Silver Miners Like Coeur Mining, First Majestic Silver, and Great Panther Mining Rallied on July 21
Americas Gold and Si (USAS)
2.54 ? -0.01 (-0.39%)
Volume: 890,631 @07/02/20 8:00:00 PM EDT
Bid Ask Day's Range
- - 2.52 - 2.65
USAS Detailed Quote
#USAS: Orphaned Silver Is Finding Its Parent...:-}
"That being the case, the attraction of silver over gold is to be found in a substantial fall of the gold/silver ratio, as it dawns on markets that the end of fiat money is nigh."
https://www.zerohedge.com/commodities/orphaned-silver-finding-its-parent
This article examines the prospects for silver, which has been overlooked in favour of gold. Due to the economic and monetary consequences of the coronavirus lockdowns and the earlier turning of the credit cycle, there is an increasing likelihood of a severe and sustained downturn that will require far more monetary expansion to deal with, favouring the prospects of both gold and silver returning to their former monetary roles.
To understand the consequences for silver, this article draws on history, principally of silver standards in America and Britain, in order to appreciate the issues involved and the prospects for silver to regain its former monetary role.
Introduction
So far this year, the story in precious metals markets has been all about gold. Speculators have this idea that gold is a hedge against inflation. They don’t question it, don’t theorise; they just assume. And when every central bank issuing a respectable currency says they will print like billy-ho, the punters buy gold derivatives.
These normally tameable punters are now breaking the establishment’s control system. On Comex, the bullion establishment does not regard gold and silver as money, just an idea to suck in the punters. The punters are no longer the suckers. With their newly promised infinite monetary expansion, central banks are confirming their inflationary fears.
What makes it worse for bullion bank trading desks is that the banking system is now teetering on the edge of the greatest contraction of bank credit experienced at least since the 1930s, and banks are determined to rein in their balance sheets. We normally think of bank credit contraction crashing the real economy: this time, banks are reining in market making activities as well, and that includes out-of-control gold and silver trading desks, foreign exchange trading, fx swaps and other derivatives —anything that is not a matched arbitrage or an agency deal on behalf of a genuine customer.
Initially, the focus on gold left silver vulnerable. Figure 1 shows how the two metals have performed in dollar terms so far this year, indexed to 31 December 2019. When the bullion banking establishment tried one of its periodic smashes in mid-February, it reduced Comex gold futures’ open interest from just under 800,000 contracts to about 480,000. The price of gold bounced back strongly to be up 14% on the year and the bullion banks are still horribly net short. But silver crashed, losing 34% and has only just recovered to be level on the year so far.
For the punters, in a proper gold bull market silver is seen as just a leveraged bet on gold. They are less interested in the dynamics that cause a relationship to exist than they are on the momentum behind the price. For now, active traders are looking for entry points in both metals to build or add to their positions in a bullish but overbought market.
This is just short-term stuff, and much has been written on it about gold. We are generally unaware today that silver has been money for ordinary people more so than gold and in that sense still has the greater claim as a circulating medium. It is therefore time to devote our attention to silver.
A brief history of monetary silver
Silver has a similar history to gold of being money. Following the ending of barter, communities worldwide adopted durable metals – gold, silver or copper, depending on local availability — as the principal medium of exchange. And until the 1960s this heritage, with respect to copper and silver, was still reflected in the coinage used in most nations. The British currency is still known as sterling because since the reign of Henry II (1154–1189) money was silver coinage of sterling alloy, comprised of 92.5% silver, the balance being mainly copper.
Silver was the sole monetary standard, sometimes with gold on a bimetallic standard, for most regions from medieval times until the nineteenth century. Sir Isaac Newton reset the silver standard against gold in 1717, and it was because the British government overpriced gold and failed to adjust to the consequences of changing mine supplies, principally the subsequent expansion of gold supply from Brazil, that British commerce moved towards a gold standard during the eighteenth century.
We look in greater detail at these events later in this article.
As international trade developed, gold for trading nations assumed greater significance, leading eventually to the adoption of the British sovereign coin as the gold standard in the early nineteenth century.
In colonial America, silver was the principal circulating currency in common with that of Britain at the time, but following Newton’s introduction of a silver standard for the pricing of gold, similar practical relationships between the two metals existed for trade in nearly all Britain’s colonies; in America’s case at least until independence was formally gained by the Treaty of Paris in 1783.
When Alexander Hamilton was Treasury Secretary, the US introduced a bimetallic standard with the first coinage act in 1792 when the dollar was fixed at 371.25 grains of pure silver, minted with alloy into coins of 416 grains. Gold coins were also authorised in denominations of $10 (eagles) and $2.50 (quarter eagles). The ratio of silver to gold was set at fifteen to one. All these coins were declared legal tender, along with some foreign coins, notably the Spanish milled silver dollar, which had 373 grains of pure silver making them a reasonable approximation for the US silver dollar.
However, not long after Hamilton’s coinage act was passed, the international market rate for the gold/silver ratio rose to 15.5:1, which led to gold being drained from domestic circulation, leaving silver as the common coinage. Effectively, the dollar was on a silver standard until 1834, when Congress approved a change in the ratio to 16:1 by reducing the gold in the eagle from 246.5 to 232 grains, or 258 grains at about nine-tenths fine. An additional adjustment to 232.2 grains was made in 1834. After a few years, gold coins then dominated in circulation over silver, the circulation of which declined as it became more valuable relative to gold. Gold discoveries in California and Australia then increased the quantity of gold mined relative to silver, making silver even more valuable relative to gold coinage thereby driving it almost totally out of circulation. This was remedied by an act of 1853 authorising subsidiary silver coins of less than $1 to be debased with less silver than called for by the official mint ratio and less than indicated by the world market price.
Under financial pressure from the civil war, in 1862 the government issued notes that were not convertible either on demand or at a specific future date. These greenbacks were legal tender for everything but customs duties, which still had to be paid in gold or silver. The government had abandoned the metallic standards. Greenbacks were issued in large quantities and the United States experienced a substantial inflation.
After the war was over Congress determined to return to the metallic standard at the same parity that existed before the war. It was accomplished by slowly removing greenbacks from circulation. The bimetallic standard, measuring the dollar primarily in silver, was finally replaced with a gold standard in 1879, reaffirmed in 1900 when silver was officially relegated to small denomination money.
In Europe, most countries on a silver standard moved to gold after the Franco-Prussian war (1870–1), when Germany imposed substantial reparations from France which were paid in gold, and Germany was then able to migrate from a silver to a gold standard. Other European nations followed suit.
More recently, silver circulated as money in Arab lands in the form of Maria Theresa dollars, which had circulated widely in the Middle East and East Africa from the mid-nineteenth century and were still being used in Muscat and Oman in the 1970s.
These are just some examples of silver’s use as money in the past. It lives on in base metal coins today, made to look like silver. Now imagine a world where fiat currencies are discredited: gold or gold substitutes will almost certainly return as the money for larger transactions, and silver will equally certainly return as money for everyday transactions. Bimetallism might not return as official policy due to the frequent adjustments required, but history has shown that a relatively stable market rate between gold and silver is likely to ensue, and silver more than gold will ensure widespread distribution of circulating metallic money.
Supply and demand factors
Analysts are currently grappling with the effects of the coronavirus on supply and demand in their forecasts for the rest of this year. Silver mines have been affected by changes in grades and production shutdowns. According to the Silver Institute, in 2019 less than 30% of mine supply was from mines classified as primarily silver, the rest coming from lead/zinc, copper, gold mines and “others” in that order of importance. Miners of lead/zinc, copper and others made up about 56% of global silver mine supply, so that a decline in global economic activity automatically leads to a decline in silver output from base metal miners.
At the same time, falling industrial demand for silver throws a greater emphasis on investment to sustain demand overall. Last year, non-investment demand was 806 million ounces, while investment was estimated at 186 million, a relationship which in a deep recession will require a significant increase in investment demand to absorb the combination of mine, scrap and available above-ground stocks. Identifiable above-ground stocks are estimated at 1,651 million, a multiple of 1.67 times 2019 demand, and 8.9 times 2019 investment demand.
For 2020 and beyond, I am very bearish for the global economy for reasons stated elsewhere. If I am right, current estimates for mine supply, of which over half is dependent on base metal mines, will prove optimistic. But silver demand for non-investment usage is likely to decline even more, in which case investment demand will probably need to at least double if silver prices are to rise in real terms.
An interesting point is found in the comparison with gold, where above-ground stocks are many multiples of mine and scrap supply. Stock-to-flow comparisons have been popularised recently by the cryptocurrency community as a measure of future monetary stability, compared with that of infinitely expandable fiat currencies. A high stock-to-flow signals a low rate of inflationary supply. Silver has a very low stock to flow ratio due to the low level of above-ground stocks. But it is a mistake is to rely on this measure of monetary stability for a metallic money when the lack of physical liquidity should be the main consideration.
At current prices, silver’s above-ground stock is worth only $31bn, compared with gold’s at over $10 trillion. With this relationship of 323 times of gold to silver’s above-ground stock values and an annual mine supply ratio of only 8 times as many silver ounces to that of gold, it appears that if gold returns to its traditional monetary role, silver will turn out to be substantially undervalued. “If” is a little word for a very big assumption; but given the unprecedented and coordinated acceleration of monetary expansion currently proposed, an ending of the current fiat currency regime and a return to gold and silver as monies is becoming increasingly likely.
The relationship with gold in the numbers above suggest that a bimetallic standard today on mine supply considerations alone would be at almost half Isaac Newton’s 1717 exchange rate. Obviously, the issue is not so simple and will be settled by markets. But looking at some other facts suggest the gold/silver relationship is due for a radical rethink. Table 1 below lists some of the relevant ones.
The clear outlier is the gold/silver ratio.
How Newton decided the gold to silver ratio
It is natural to assume that the greatest scientific genius of the day derived a clever means to settle the gold/silver ratio when he was Master of the Royal Mint in 1717. Not so. He looked at existing exchange rates, how silver was disappearing from circulation in favour of gold at that time and set an initial rate to stop it. Furthermore, he recommended the rate be revised, most probably downwards, in the light of how trade developed. The point was that Britain operated a silver standard of money and both Newton and Parliament wished to retain it. It was, after all, the established money for day-to-day transactions.
To understand the monetary debates at the time, it will be helpful to commence with a guide to the composition of pre-decimal British money and coinage. There were 20 shillings to the pound (£), and twelve pence to the shilling. Silver coins were crowns (5 shillings) and half crowns, being 2 shillings and 6 pence, written 2s. 6d. There were silver coins of lesser value, but they are not relevant to this discussion.
Over a century before Newton, in 1601 a pound weight of old standard silver was coined into £3. 2s. 0d. in crowns and fractions thereof and remained the mint price of silver until 1816, a period lasting over two centuries. In 1670, a pound in weight of gold was coined into £44. 10s. 0d., represented by gold pieces of ten and twenty shillings. That was the equivalent of 14.35 times the value of silver. A monetary pound of twenty shillings was called a guinea, because when they were first struck in 1663 the gold came from the Guinea Coast of Africa, and it was set at 44 ½ to a pound of silver in weight because it was thought that it would be a stable rate of exchange.
There were some adjustments to the price of gold until it was finally fixed in 1717 at the new ratio of £46. 14s. 6d. to the silver standard of £3. 2s.0d. This moved the guinea from £1 in silver to £1. 1s. 0d, or 21 shillings. The crude ratio was now 15.07 to 1; but allowing for the differences in fineness between the slightly purer sterling silver (92.5%) compared with Crown gold coinage at 22 carats (91.67%), the actual ratio was 15.21 to 1.
This rate of exchange was introduced during Isaac Newton’s tenure as Master of the Royal Mint from 1699. In 1696 he had been previously appointed Warden of the Royal Mint to improve the state of silver coinage, and he organised the Great Recoinage in 1696–9.
In setting the price of gold, Newton found that gold, having been fixed as high as 22s. in 1699, had been too expensive compared with its silver value in Europe, particularly Holland, Germany, the Baltic States, France and Italy. Not only did he recommend setting the gold guinea at 21s, but he also recommended the rate be kept under review for a possible change to 20s 6d. That review did not take place.
Trade between Britain and the Continent was increasing, and whatever the rate, merchants had a preference for gold over silver because it was more practical for large payments when they were made in specie, which was normal practice at the time. While Britain remained on a silver standard, for commercial purposes it had increasingly moved to gold, silver being relatively expensive at the rate set and therefore progressively driven from active circulation relative to inflows of gold. The problem was that neither Newton nor Parliament accepted there was more than one currency: silver was the money and gold just a commodity whose price was to be set.
Because silver was valued about 5% more relative to gold in the European countries mentioned in the penultimate paragraph above, silver flowed abroad despite the ban on the export of coinage, and conversely gold flowed into Britain. Furthermore, gold mining output from Brazil began to have an impact on Britain’s monetary system following Newton’s 1717 conversion, due to diplomatic and commercial ties between Britain and Portugal. The bulk of this Brazilian gold, estimated by Fay at about 23 million ounces between 1720–1750, ended up being shipped to London, helping it to become the European monetary centre, taking that mantle from Amsterdam.
We can conclude that it was a combination of Newton overpricing gold, thereby driving silver into Europe and gold into London, and the discovery of Brazilian gold that turned Britain onto a commercial gold standard, even though officially it remained on a silver monetary standard for ninety-nine years after Newton’s fixing. And finally, in 1816, gold was declared the sole standard measure of value, and no tender of silver coin was legal for transactions valued at over forty shillings. By 1821, Britain was on a gold standard in law as well as fact.
From 1601–1816 we learn that silver’s role as money gradually evolved towards a subsidiary role to gold. Gold was the money of merchants and goldsmiths. The latter acting as custodians of gold evolved into banks, so high finance was almost exclusively gold. But silver was always there as money, be it for lesser transactions. And if today’s state-issued unbacked fiat currencies disappear, silver is bound to have a monetary role again alongside gold, because having a lower value and greater abundance of supply it can be more widely circulated.
That being the case, those who believe state currencies are on their way to monetary destruction will accumulate silver as a practical version of sound money, noting that the current gold/silver ratio at about 96 times is over seven times that of its monetary rate in every country that operated a silver or bimetallic standard. Furthermore, those who fear their governments will confiscate gold might observe there is a lesser chance of them confiscating silver and attempts to confiscate gold would probably increase demand for silver anyway.
The current market position for silver
Since the price of gold began to increase from August 2018, silver has lagged, its moneyness broadly ignored. Figure 2 shows how this has been reflected in the gold/silver ratio.
On 19 March a ratio of 125 was the highest ever seen, marking the most extreme undervaluation for silver. Since then, the ratio has fallen rapidly to its current level of 97. For it to fall further a continuing advance in the gold price may be required, because in current financial markets higher gold prices would be associated with economic conditions and monetary policies heading to a substantial, if not catastrophic deterioration in the purchasing power of fiat currencies.
Additionally, traders manning bullion bank desks are generally finding their trading limits being reduced due to a combination of unfavourable trading conditions and pressure from their superiors limiting bank credit expansion generally. When the coronavirus paralysed China and was going to do the same to other nations, and the inflationary response became obvious, it led to a concerted bear raid by the bullion banks to balance their gold and silver positions on Comex before matters got even further beyond their control. The effect on silver’s open interest is shown in Figure 3.
Open interest was driven down to levels not seen for nearly seven years, after the silver price had fallen from a high of nearly $50 an ounce in 2011 to $18 in 2013, a price level only just now being reclaimed. From open interest’s height at 244,705 contracts on 24 February to its low at 181,830 on 4 May, contracts for 314,375,000 ounces of silver have been closed down, which compares with investment demand for the whole of last year estimated by the Silver Institute at 186,000,000 ounces. This contraction amounts to the synthetic equivalent of 20% of the Institute’s estimate of above-ground silver stocks.
Vaulted silver in LBMA vaults was 1,170 million ounces in February, the bulk of the 1.651 million recorded by the Silver Institute. The ownership of that silver is not declared but is likely to be a mixture of industrial users, investors (including ETFs) and bank dealers’ liquidity. In practice, banks keep liquidity at a minimum level consistent with the desk’s trading limits, and we know from developments in other derivative markets that trading limits are tending to contract.
The last commitment of traders’ figures, for 26 May, shows a net short position of only 6,652 contracts; therefor swap dealers positions are almost level. This is a different situation from the gold futures contract where the swaps are currently short a net 182,864 contracts representing the equivalent of 569 tonnes worth $31 billion, almost a record and a major headache for the bullion banks.
In conclusion, having been left behind while monetary events have been focusing on the gold price, silver is now beginning to catch up. The spike to a gold/silver ratio of 125 appears to have marked a major turning point in the relationship, and silver can therefore be expected to continue to outperform gold as the fiat money situation deteriorates. Traders at the bullion banks appear to be avoiding short positions in silver futures, in which case a rising price will see them withdrawing liquidity instead of supplying additional contracts to the buyers.
The global economic and monetary situation is dire, due to both the coronavirus and because the credit cycle was already turning down in late-2019. The amount of monetary debasement deployed by central banks in an attempt to save their economies promises to be unprecedented to the point where total monetary destruction will be an increasingly likely outcome.
That being the case, the attraction of silver over gold is to be found in a substantial fall of the gold/silver ratio, as it dawns on markets that the end of fiat money is nigh.
Even with a bit of dilution, we still know what this company has in the ground--a LOT. And it's not in some unstable foreign country.
This is a long term/patience hold...and yeah, it can try one's patience at times, but it's a dark horse that could end up finishing strong if the central bankers ever allow a true price discovery for precious metals.
Americas Gold and Silver Announces Closing of C$28.75 Million Bought Deal Financing
https://www.americas-gold.com/news-releases/2020/americas-gold-and-silver-announces-closing-of-c-28.75-million-bought-deal-financing/
TORONTO, ONTARIO - May 13, 2020 -
Americas Gold and Silver Corporation (“the “Company”) (TSX:USA; NYSE American: USAS) is pleased to announce that it has closed its previously announced bought deal financing with a syndicate of underwriters co-led by Cormark Securities Inc. and Desjardins Capital Markets (collectively, the “Underwriters”). A total of 10,269,500 common shares of the Company (the “Common Shares”), including the exercise of the over-allotment option in full by the Underwriters, were sold at a price of C$2.80 per Common Share, for aggregate gross proceeds to the Company of C$28,754,600 (the “Offering”).
The net proceeds from the sale of the Common Shares will be used for working capital and general corporate purposes, primarily the exploration, development and/or improvement of the Company’s existing mine properties, including those relating to bringing Relief Canyon into commercial production.
The Offering was made by way of a prospectus supplement dated May 7, 2020 (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated June 28, 2019 (the “Base Shelf Prospectus”). The Prospectus Supplement was filed in Alberta, British Columbia and Ontario and, together with the related Base Shelf Prospectus, are available on SEDAR at www.sedar.com.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the “United States” or to, or for the account or benefit of, persons in the “United States” or “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company’s newest asset, Relief Canyon in Nevada, USA, has poured first gold and is expected to ramp up to full production over the course of 2020. The Company also owns and operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company also holds an option on the San Felipe development project in Sonora, Mexico. For further information, please see SEDAR or www.americas-gold.com.
For more information:
Stefan Axell
VP, Corporate Development & Communications
Americas Gold and Silver Corporation
416-874-1708
Darren Blasutti
President and CEO
Americas Gold and Silver Corporation
416-848-9503
Cautionary Statement on Forward-Looking Information:
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"), which reflects management's expectations regarding the Company's future growth and business prospects and opportunities. Forward-looking statements include, without limitation, the anticipated use of proceeds of the Offering, and possible events, conditions or results of operations, future economic conditions expectations and anticipated courses of action. Although the forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements are based upon assumptions, opinions and analysis that management believes to be reasonable and relevant but that may prove to be incorrect. The Company cautions you not to place undue reliance upon any such forward-looking statements.
The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, state of the financial markets, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, the impact of the novel coronavirus (COVID-19), such as project execution delays, many of which are beyond the control of the Company, as well as other risks and uncertainties which are more fully described in the Company's Annual Information Form dated March 9, 2020 and in other filings of the Company with securities and regulatory authorities which are available on SEDAR at www.sedar.com. The Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell the Company securities. All references to the Company include its subsidiaries unless the context requires otherwise.
Americas Gold and Silver Corporation Reports First Quarter 2020 Results
TORONTO, ONTARIO - May 15, 2020 - Americas Gold and Silver Corporation (“Americas” or the “Company”) (TSX: USA; NYSE American: USAS), a growing North American precious metals producer, today reported consolidated financial and operational results for the first quarter of 2020.
https://www.americas-gold.com/news-releases/2020/americas-gold-and-silver-corporation-reports-first-quarter-2020-results/
This earnings release should be read in conjunction with the Company’s Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on the Americas Gold and Silver Corporation SEDAR profile at www.sedar.com, on its EDGAR profile at www.sec.gov, and are also available on the Company’s website at www.americas-gold.com. All figures are in U.S. dollars unless otherwise noted.
Operational and First Quarter Financial Highlights
Relief Canyon continues to ramp-up following first gold pour in February and the Company is focused on achieving commercial production by late Q2-2020 or early Q3-2020.
Subsequent to Q1-2020, the Company closed a bought deal public offering for gross proceeds of approximately C$28.75 million which provides the Company with available capital to address working capital needs including bringing Relief Canyon into commercial production, particularly in the COVID-19 environment.
As a result of Relief Canyon being in pre-commercial production, the Cosalá Operations producing for less than a month during the quarter, and the exclusion of operating metrics from the Galena Complex during the Galena recapitalization plan (“Recapitalization Plan”), Q1-2020 revenue was $7.3 million resulting in a net loss of $4.1 million or ($0.03) per share.
Cosalá production for the first 26 days of Q1-2020 yielded 420 gold equivalent ounces[1] or 0.3 million silver equivalent ounces[2] at cost of sales of $7.19/oz equivalent silver, by-product cash cost[3] of negative ($11.32/oz) silver, and all-in sustaining cost3 of negative ($0.83/oz) silver.
The Galena Recapitalization Plan is proceeding better than expected with the Company seeing both increased production and encouraging exploration results.
Outlook for 2021 continues to be 90,000 to 110,000 gold equivalent ounces at expected all-in sustaining costs[4] of $900 to $1,100 per gold equivalent ounce.
At March 31, 2020, the Company had a cash balance of approximately $16.4 million.
The Company has chosen not to host a conference call to discuss the Q1-2020 results given the limited production and the extensive operations update released on May 4, 2020. The Company will resume the quarterly conference calls following its Q2-2020 results.
“The Company is in a great position to benefit from the strong gold price environment moving forward as we addressed common start-up challenges at Relief Canyon and it continues to ramp-up” said Americas President & CEO Darren Blasutti. “All operating aspects at Relief Canyon are trending positively, the Cosalá Operations should be able to resume production early in the second half of 2020 as we have had several encouraging developments in Mexico and the Galena Recapitalization Plan is proceeding better than expected. The recently completed financing provides the Company with sufficient working capital to bring Relief Canyon to commercial production.”
Relief Canyon
The Company issued a press release on May 4, 2020 providing details of the Relief Canyon ramp-up. The Company continues to target commercial production by late Q2-2020 or early Q3-2020 and will be providing more regular updates regarding the operation between now and then.
Since the start of pre-production, approximately 5.2 million tonnes of material have been mined, including 4.2 million tonnes of waste and 1.0 million tonnes of ore. Waste movement is ahead of budget and the operation currently has an ore stockpile of approximately 0.2 million tonnes ahead of the crusher waiting to be placed on the leach pad.
Approximately 0.8 million tonnes of ore have been stacked on the leach pad. Solution flow rates from the pad have continued to increase since the update on May 4, 2020 as the surface area available for leach irrigation has increased.
Cosalá Operations
The Cosalá Operations operated for the first 26 days of the quarter as the operation was negatively impacted by the previously announced illegal blockade since the end of January 2020. As a result, operating results year-over-year were negatively impacted and not generally comparable.
On March 31, 2020, the Government of Mexico issued a national COVID-19 related decree for the temporary suspension of all non-essential businesses in the country, including all mining operations. This week the Government of Mexico issued a number of statements that are expected to allow for the re-opening of mining operations starting in June 2020. The Company believes this will provide a pathway for the Cosalá Operations to resume production early in the second half of 2020, including a legal and legitimate labour representative for its workers, allowing for a resolution to the current illegal blockade. The Company’s priority continues to be the safety of its workers and the community of Cosalá that have been negatively impacted – first by the illegal blockade and now by COVID-19.
Galena Complex
In addition to providing an update regarding the ramp-up of Relief Canyon, the Company also provided an extensive update regarding the Galena Recapitalization Plan in the May 4, 2020 update, including information regarding the rehabilitation development , equipment purchases, and early drill results from the 39,000-meter drill program.
The Company has suspended disclosure of certain operating metrics such as cash costs, and all-in sustaining costs for the Galena Complex until the Recapitalization Plan is substantially completed; the Galena Complex results are not included in the Consolidated Results.
Consolidated Financial and Consolidated Production[5] Results
Consolidated operating results from Q1-2020 are generally not comparable to Q1-2019 due to the illegal blockade temporarily halting mining and processing at the Cosalá Operations, and the exclusion of operating results from the Galena Complex as a result of the Recapitalization Plan. Consolidated operating results include only 26 days of production from the Cosalá Operations.
Gross revenue decreased by $10.5 million during Q1-2020 compared to Q1-2019 primarily due to the illegal blockade. This decrease was offset by a $0.9 million increase in silver and lead revenue at the Galena Complex from increased production in the early stages of the Recapitalization Plan.
Consolidated cost of sales was $7.19/oz equivalent silver representing an increase year-over-year, while by-product cash cost was negative ($11.32/oz) silver, and all-in sustaining cost was negative ($0.83/oz) silver, representing increases year-over-year, respectively.
Further information concerning the consolidated and individual mine operations is included in the Company’s first quarter Condensed Interim Consolidated Financial Statements for the three months ended March 31, 2020 and Management’s Discussion and Analysis for the three months ended March 31, 2020.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company’s newest asset, Relief Canyon in Nevada, USA, has poured first gold and is expected to ramp up to full production over the course of 2020. The Company also owns and operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company also holds an option on the San Felipe development project in Sonora, Mexico. For further information, please see SEDAR or www.americas-gold.com.
Qualified Persons
Darren Dell, P.Eng., Chief Operating Officer and Niel de Bruin, Director of Geology, who are each employees of the Company and a “qualified person” under National Instrument 43-101, have approved the applicable contents of this news release.
For more information:
Stefan Axell
VP, Corporate Development & Communications
Americas Gold and Silver Corporation
416-874-1708
Darren Blasutti
President and CEO
Americas Gold and Silver Corporation
416-848-9503
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, Americas Gold and Silver’s expectations, intentions, plans, assumptions and beliefs with respect to, among other things, estimated production rates and results for gold, silver and other precious metals, as well as the related costs, expenses and capital expenditures, the Company’s construction, production, development plans and performance expectations at the Relief Canyon Mine, , its ability to finance, develop and operate Relief Canyon, including the anticipated timing of commercial production at Relief Canyon, the resolution and removal of the illegal blockade at the Company’s Cosalá Operations and the resumption of mining and processing operations, the resolution, easing or removal of the temporary restrictions on all non-essential businesses in Mexico resulting from the COVID-19 pandemic affecting the Company’s Cosalá Operations, and the expected use of the net proceeds from the Company’s bought deal equity financing. Often, but not always, forward-looking information can be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”, “potential’, “estimate”, “may”, “assume” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future events or performance. Forward-looking information is based on the opinions and estimates of Americas Gold and Silver as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of Americas Gold and Silver to be materially different from those expressed or implied by such forward-looking information. With respect to the business of Americas Gold and Silver, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreak including the COVID-19 pandemic; the impact of COVID-19 on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, the risks in connection with the operations, cash flow and results of the Company relating to the unknown duration and impact of the COVID-19 pandemic; interpretations or reinterpretations of geologic information; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms or at all; the ability to develop, complete construction, bring to production and operate the Relief Canyon Project; and risks associated with the mining industry such as economic factors (including future commodity prices, currency fluctuations and energy prices), ground conditions and other factors limiting mine access, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities, labor relations or disruptions, social and political developments and other risks of the mining industry. The potential effects of the COVID-19 pandemic on our business and operations are unknown at this time, including the Company’s ability to manage challenges and restrictions arising from COVID-19 in the communities in which the Company operates and our ability to continue to safely operate and to safely return our business to normal operations. The impact of COVID-19 on the Company is dependent on a number of factors outside of its control and knowledge, including the effectiveness of the measures taken by public health and governmental authorities to combat the spread of the disease, global economic uncertainties and outlook due to the disease, and the evolving restrictions relating to mining activities and to travel in certain jurisdictions in which it operate. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward-looking information is available in Americas filings with the Canadian Securities Administrators on SEDAR and with the SEC. Americas does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Americas does not give any assurance (1) that Americas will achieve its expectations, or (2) concerning the result or timing thereof. All subsequent written and oral forward-looking information concerning Americas are expressly qualified in their entirety by the cautionary statements above.
[1] Gold equivalent production throughout this press release was calculated based on the average gold spot metal prices and average silver realized metal prices during each respective period.
[2] Silver equivalent production throughout this press release was calculated based on all metals production at average gold spot prices, and average silver, zinc, and lead realized prices during each respective period.
[3] Cash cost per ounce and all-in sustaining cost per ounce are non-IFRS performance measures with no standardized definition. For further information and detailed reconciliations, please refer to the Company’s 2019 year-end and quarterly MD&A.
[4] Net of by-product zinc and lead credits assuming $1.05/lbs zinc and $0.90/lbs lead
[5] Throughout this press release, Q1-2020 consolidated production results exclude Q1-2020 from the Galena Complex due to the Recapitalization Plan.
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CORPORATE
Is this good or bad for then company?
Americas Gold and Silver Announces C$25 Million Bought Deal Public Offering
T.USA | 7 hours ago
TORONTO, May 5, 2020 /CNW/ - Americas Gold and Silver Corporation ("the "Company") (TSX:USA; NYSE American: USAS)
has today entered into an agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and Desjardins Capital Markets (collectively, the "Underwriters") pursuant to which the Underwriters have agreed to purchase on a bought deal basis 8,930,000 common shares of the Company (the "Common Shares") at a price of C$2.80 per Common Share (the "Offering Price"), for aggregate gross proceeds of approximately C$25,000,000 (the "Offering").
The Company has also granted an option to the Underwriters, exercisable until 11:59 p.m. on the 30th day following the closing date of the Offering to purchase, from the Company such number of additional common shares of the Company as is equal to 15% of the number of common shares of the Company at the Offering Price for market stabilization purposes and to cover over-allotments, if any.
Strategic investors led by Pierre Lassonde and Eric Sprott have indicated that they intend to subscribe for such number of common shares from the offering totalling C$8.75 million.
The proceeds from the sale of the Common Shares will be used for working capital and general corporate purposes, which may include the exploration, development and/or improvement of the Company's existing mine properties, including those relating to bringing Relief Canyon into commercial production.
The Offering will be made by way of a prospectus supplement (the "Prospectus Supplement") to the Company's base shelf prospectus dated June 28, 2019. The Prospectus Supplement will be filed in Alberta, British Columbia and Ontario and, together with the related Base Shelf Prospectus, will be available on SEDAR at www.sedar.com.
Closing of the Offering is expected to take place on or about May 13, 2020 and is subject to the receipt of approvals of the Toronto Stock Exchange and the NYSE American LLC and other necessary regulatory approvals.
The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the "United States" or to, or for the account or benefit of, persons in the "United States" or "U.S. persons" (as such terms are defined in Regulation S under the U.S. Securities Act) except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful.
Forward-Looking Statements
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"), which reflects management's expectations regarding the Company's future growth and business prospects and opportunities. Forward-looking statements include, without limitation, all disclosure regarding closing of the Offering, the anticipated use of proceeds of the Offering, and possible events, conditions or results of operations, future economic conditions expectations and anticipated courses of action. Although the forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements are based upon assumptions, opinions and analysis that management believes to be reasonable and relevant but that may prove to be incorrect. The Company cautions you not to place undue reliance upon any such forward-looking statements.
The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, state of the financial markets, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, the impact of the novel coronavirus (COVID-19), such as project execution delays, many of which are beyond the control of the Company, as well as other risks and uncertainties which are more fully described in the Company's Annual Information Form dated March 9, 2020 and in other filings of the Company with securities and regulatory authorities which are available on SEDAR at www.sedar.com. The Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell the Company securities. All references to the Company include its subsidiaries unless the context requires otherwise.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company's newest asset, Relief Canyon in Nevada, USA, has poured first gold and is expected to ramp up to full production over the course of 2020. The Company also owns and operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company also holds an option on the San Felipe development project in Sonora, Mexico. For further information, please see SEDAR or www.americas-gold.com.
SOURCE Americas Gold and Silver Corporation
Cision View original content: http://www.newswire.ca/en/releases/archive/May2020/05/c8832.html
Stefan Axell, VP, Corporate Development & Communications, Americas Gold and Silver Corporation, 416-874-1708; Darren Blasutti, President and CEO, Americas Gold and Silver Corporation, 416-848-9503Copyright CNW Group 2020
Canada Newswire
May 5, 2020 - 4:34 AM PDT
Tags:
INDUSTRIAL METALS & MINERALS
Investing News
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At this year’s PDAC convention, the Investing News Network caught up with
Darren Blasutti, CEO of Americas Gold and Silver.
#PDAC2020 #Gold #Investing
Americas Gold and Si (USAS)
2.1938 ? -0.0662 (-2.93%)
Volume: 372,170 @04/30/20 10:48:07 AM EDT
Bid Ask Day's Range
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USAS Detailed Quote
Yes they will! At the moment much exaggeration in it. But we should see 3 Dollar and more in the near future. And much more in a few years!
DrewStegman welcome to American Silver Corporation (USAS )
I given you a friend following mark #46 -
If you return one TIA ) -
Americas Gold and Silver: Gold to Rise Strongly, Equities to Follow
This company is fast growing
So much hate on Wall Street for gold / silver mining stocks
Gives us a good opportunity to load
When big institutional money finally realize what’s happening with the Fed and gold keeps rising, these mining stocks will take off just like they did after 2008
GLTU
Added a starter position here today
This could be a 10x bagger
Gonna drop more in here soon
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