Americas Gold and Silver Corporation posted a 71% increase in consolidated net revenue to $46 million for the second quarter of 2026, up from $27 million last year, driven by higher realized metal prices.

Consolidated silver production reached 665,000 ounces, with silver equivalent production at approximately 801,000 ounces. Operations faced brief hurdles, including a two-week extension to the Galena Phase 2 shaft upgrade and a June electrical fire that deferred access to a higher-grade stope. Repairs are now complete.

For the first half of 2026, revenues hit $114 million, a 126% increase over the first half of 2025. The company reported a net loss of $5 million for Q2, compared to a $15 million loss in the prior-year period. Cash and cash equivalents totaled $88.9 million with $48.6 million in working capital as of June 30, 2026.

The Cosalá Operations in Sinaloa, Mexico, anchored performance, with silver production rising 26% to 337,000 ounces. Strong output resulted from higher silver grades across fewer tonnes as the high-grade silver-copper EC120 mine is scaled.

At the Galena Complex in Idaho, silver production reached 328,000 ounces, constrained by upgrade downtime and the electrical fire. Cash costs per silver ounce sold at Galena rose to $35.26 from $23.39 in Q2 2025.

The company completed Phase 2 of the No. 3 Shaft modernization at Galena, boosting hoisting capacity by 150% and skipping payloads by 40%. Additionally, Americas Gold and Silver settled $76 million of variable debt with Eric Sprott and Royal Gold Inc. via share issuances and 5,000 ounces of gold, removing future income statement valuation impacts from metal price volatility.

“At Galena, the completion of the No. 3 Shaft modernization marks a transformational milestone for the Complex and establishes the infrastructure needed to support the next phase of growth. These improvements, combined with modernized mining methods, long-hole stoping advancements, fleet upgrades, and new communication infrastructure, are already driving efficiencies underground.”

— Paul Andre Huet, Chairman and CEO

Americas Gold and Silver remains on track to achieve full-year 2026 production guidance of 3.2 to 3.6 million ounces of silver at an all-in sustaining cost of $30 to $35 per ounce sold.

Read the full announcement: Americas Gold and Silver Reports Financial Results for Q2 2026 Highlighted by Strong Operational Performance at Cosalá and Upgrade Project Progress at the Galena Complex