Americas Gold and Silver Corp (USAS)

[Jerry70]

$ 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.

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