Americas Gold and Silver (TSX: USA) (NYSE American: USAS) produced 800,458 ounces of silver in the third quarter of 2026, as gains at its Cosalá Operations in Mexico offset a slower recovery at the Galena Complex in Idaho following temporary production interruptions in the prior quarter.
Cosalá produced 415,879 ounces of silver, up 23% from the second quarter, as mining advanced further into the higher grade EC120 orebody. The operation also produced 736,094 pounds of copper.
Galena contributed 384,579 ounces of silver, along with 964,551 pounds of lead, 182,362 pounds of copper and 101,011 pounds of antimony.
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Consolidated silver equivalent production reached 936,870 ounces. Sales outpaced output for the quarter, with 860,850 ounces of silver sold at an average realized price of US$60.54 per ounce.
Year to date silver production now stands at 2.3 million ounces, against full year guidance of 3.2 million to 3.6 million ounces at all in sustaining costs of US$30 to US$35 per ounce. The company maintains it remains on track and has said since the start of the year that output would be weighted to the second half. Reaching even the low end of the range, however, implies fourth quarter production of roughly 900,000 ounces, well above the level just achieved.
The guidance range represents growth of about 30% over the 2.65 million ounces the company produced in 2025.
Much of the quarter’s spending went into Galena, where construction of a paste fill plant and an upgrade of the No. 3 hoist continued. The company also installed four new grizzlies above its ore loading pockets, cutting the time needed to load a 4 ton tram car from 5 minutes to 20 seconds, and began the waste development required to set up long hole stoping in higher grade silver-copper-antimony veins.
“With the strong year-to-date performance at Cosalá, we have been able to push even more aggressively on the critical infrastructure projects and development at Galena necessary to support significantly increased and sustainable production levels in future years,” said Chairman and CEO Paul Andre Huet.
That investment is visible on the balance sheet. Unaudited cash stood at US$63 million as of September 30, down from US$129.8 million at the end of 2025. Available liquidity totals US$113 million, including US$50 million still available under the company’s credit facility with SAF Group, and the company said the cash balance is tracking in line with its budget.
Americas Gold and Silver last traded at $5.34 on the TSX.
