Record Production and Growth Strategies at Americas Gold & Silver Corporation

Record Silver Production

Americas Gold & Silver Corporation recently celebrated a remarkable milestone in its operational journey, achieving consolidated silver production of 787,000 ounces in the First Quarter of 2026. This represents a staggering 76% increase compared to the 446,000 ounces produced in the same period last year. Additionally, the company’s silver sales soared to 830,000 ounces, primarily due to advantageous timing adjustments in concentrate sales.

This achievement underscores the operational efficiencies realized at both the Galena Complex in Idaho and the Cosalá Operations in Mexico. Specifically, the Galena Complex was responsible for producing 424,686 ounces of silver, while Cosalá contributed 362,239 ounces. In tandem with silver production, base metals were also significant contributors, with notable outputs of 1,950,014 pounds of lead, 137,078 pounds of antimony, and 966,552 pounds of copper across its operations.

Source: Americas Gold & Silver Corporation Announces New Record Quarterly Silver Production and Sales, including 787,000 Ounces Produced and 830,000 Ounces Sold. April 16, 2026.

Commitment to Safety

A hallmark of the company’s dedication to operational integrity is its achievement of one full year without Lost Time Accidents (LTAs) at both the Galena Complex and Cosalá Operations. This safety milestone is not just a number; it reflects the robust safety culture cultivated by the workforce. Chairman and CEO Paul Andre Huet noted, "Safety remains our highest priority, and these achievements reflect the strong safety culture developed by our teams." This commitment not only ensures the well-being of employees but also enhances operational sustainability.

Financial Position

As of March 31, 2026, Americas Gold & Silver reported an unaudited consolidated cash balance of US$122.6 million. This robust financial position positions the company to continue its revitalization and growth initiatives effectively. The cash reserves are earmarked for strategic developments within the Galena Complex and broader operational expansions, showcasing a proactive approach to capital deployment.

Galena Infrastructure Program

The company is making strategic enhancements to its infrastructure, focusing on the Phase 2 upgrades to the No. 3 shaft at Galena, scheduled for completion in the Second Quarter of 2026. Significant enhancements will include a new braking system, improved control systems for automation, and upgraded communication setups. The result will be an impressive 160% increase in hoisting capacity, raising skipping speeds to approximately 105 short tons per hour (stph), compared to the 40 stph baseline established in 2024.

Huet emphasized the significance of these upgrades: "The year ahead is pivotal for our operations at Galena. This upgrade will boost our ore hoisting capability in the No. 3 shaft – a significant step forward for our operations."

In concert with these upgrades, construction of a surface paste fill plant has commenced, aimed at expediting stope cycle times and facilitating a transition to increased Long Hole Stoping (LHS).

Exploration Initiatives

To fuel future growth, Americas has launched an ambitious exploration program, planning to execute approximately 64,000 meters of exploration and infill drilling across its operations throughout 2026. This represents the largest drilling effort in the company’s history. Huet commented on this initiative: “In addition to substantial capital investments to grow production safely and rapidly, we have also allocated funds for this extensive drilling program.”

Production Guidance

Looking ahead, Americas has maintained its full-year 2026 silver production guidance, aiming for an output between 3.2 million and 3.6 million ounces at an all-in sustaining cost of US$30 to US$35 per ounce. The production is expected to skew heavily towards the second half of the year, promising lower costs as operational growth gathers momentum.

Huet reiterated the aggressive growth trajectory, stating, “As previously indicated, we expect full-year production to be weighted to the second half of the year, with associated lower costs as we continue to invest in the growth of our operations.”

What to Watch Next

In the coming months, several key events could impact Americas Gold & Silver shares. The completion of the Phase 2 No. 3 shaft upgrades will be closely monitored, alongside the continued construction of the surface paste fill plant. Investors should also keep an eye on the results from the extensive drilling program, which is expected to provide insights into significant resource potential. Full-year production targets will be highly anticipated, particularly as they are expected to deliver substantial returns in the latter half of the year.

FAQs

What drove the 76% increase in silver production in the first quarter of 2026?

The increase was driven by improved performance at both the Galena Complex and Cosalá Operations, alongside ongoing operational optimization and higher throughput.

Why is the Galena shaft upgrade important for investors?

The Phase 2 upgrade increases hoisting capacity by around 160%, enabling higher ore throughput, supporting production growth, and improving long-term operational efficiency.

How strong is the company’s financial position?

With an unaudited cash balance of US$122.6 million, the company is well-funded to execute its revitalization strategy, infrastructure upgrades, and exploration programs.

What is the significance of the safety milestone?

Achieving one year without Lost Time Accidents at both operations signals strong operational discipline, reducing risk and supporting sustainable production growth.

What should investors watch for in the rest of 2026?

Key catalysts include the completion of the Galena shaft upgrade, progress on the paste fill plant, results from the 64,000 meter drilling program, and a production ramp-up weighted to the second half of the year.