Americas Gold and Silver Reports Record Production and Sales in Q1 2026 as Execution on the Growth Plan Continues at Galena

The most recent news (May 14, 2026) is the Q1‑2026 earnings release. Americas Gold and Silver reported record quarterly silver production of ~787,000 ounces (+76% YoY), record sales of 830,000 oz, and revenue of $67.8 million (+187% YoY). Crucially, the company swung to a net income of $10.0 million ($0.03/share) from a loss of $19.7 million a year earlier, with adjusted EBITDA of $33.6 million. The quarter also marked the declaration of commercial production at the high‑grade EC120 zone within the Cosalá Operations, and confirmation of the 51/49 joint venture with United States Antimony to build a processing facility in Idaho. Full‑year 2026 guidance was reiterated: 3.2‑3.6 Moz silver at AISC $30‑35/oz.

Looking back at the chain of releases, every promise made in the 2025‑2026 turnaround is being fulfilled. The company completed the Phase 2 shaft upgrade on time (completed mid‑May 2026), the paste backfill plant is under construction for Q4 2026, and the integration of the Crescent Mine is progressing. The Q1 results demonstrate that the heavy investment cycle is now translating into profitable, high‑margin production.

This is materially positive because it is the first reported net‑income quarter after a long string of losses, signalling the inflection point where the growth capital is being converted to cash flow. The combination of record volume, dramatically higher realized silver price ($79.48/oz), and a tight AISC of $34.12/oz created a margin that even the most optimistic projections may not have fully priced in. The market had seen production numbers on April 16, but the financial metrics (especially net income) were withheld until this release. Given the company’s previous net‑loss‑making profile and the lingering doubt about the execution of the Galena Complex transformation, the actual profitability removes a key risk. While the guidance was already known, the magnitude of the margin in Q1 and the early achievement of commercial production at EC120 are incrementally positive. The turnaround is no longer a promise but a demonstrated fact.

Americas Gold and Silver is a high‑grade silver producer focused on the Silver Valley of Idaho, where it operates the wholly‑owned Galena Complex (Galena and Crescent mines) and the Cosalá Operations in Sinaloa, Mexico. The flagship asset is the Galena Complex, a deep underground mine that has produced silver consistently for decades and is the only operating primary antimony mine in the United States. The mineralisation is a tetrahedrite‑dominated system rich in silver, copper, and antimony. The recently acquired Crescent Mine adds a fully permitted past‑producer with a historical resource of 3.8 Moz M&I at 19.1 opt Ag. The company is executing a major growth plan that includes a transition to long‑hole stoping, shaft upgrades, a new paste backfill plant, and a multi‑metal offtake with Ocean Partners/Trail. The Cosalá Operations are high‑grade silver mines, with the EC120 zone now in commercial production. The company plans a 64,000‑m drill program in 2026, and has a joint venture to build an antimony processing facility on‑site.