Northwire Canada EditionThursday, November 12, 2026
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Gold 3,942.00 −1.5% Silver 50.93 −2.1% Copper 6.19 −1.5% Oil 87.29 +0.9% Palladium 1,001.50 −4.3% NAU 0.530 −1.9% AHR 0.920 −1.1% VLD 0.400 +0.0% CPER 0.020 +0.0% STND 0.060 +0.0% SAU 0.140 +0.0% CAMB 0.600 +0.0% TUO 1.46 −1.4% ANK 0.330 −1.5% SLG 5.92 −5.1% NMC 0.490 −3.9% CDB 0.275 +0.0% TIGR 0.610 −4.7% PPP 0.610 +0.0% TK 0.375 +7.1% IE 10.62 −2.0% Gold 3,942.00 −1.5% Silver 50.93 −2.1% Copper 6.19 −1.5% Oil 87.29 +0.9% Palladium 1,001.50 −4.3% NAU 0.530 −1.9% AHR 0.920 −1.1% VLD 0.400 +0.0% CPER 0.020 +0.0% STND 0.060 +0.0% SAU 0.140 +0.0% CAMB 0.600 +0.0% TUO 1.46 −1.4% ANK 0.330 −1.5% SLG 5.92 −5.1% NMC 0.490 −3.9% CDB 0.275 +0.0% TIGR 0.610 −4.7% PPP 0.610 +0.0% TK 0.375 +7.1% IE 10.62 −2.0%
Production / Operations

Americas Gold and Silver produces 2.65 Moz Ag in 2025

By The Northwire Desk — AI Analysis Jan 21, 2026 · 16:02 USA · 9.59 Americas Gold and Silver Corporation
USA · Price

Executive Summary

  • Americas Gold and Silver Corp. reported record consolidated annual silver production of 2.65 million ounces for 2025, representing a 52% increase from the 1.74 million ounces produced in 2024.
  • The Cosala operations in Mexico achieved a new annual production record of 1.19 million ounces, driven by a record fourth-quarter output of 463,000 ounces.
  • The company reported a strong financial position with an unaudited consolidated cash balance of approximately $130 million as of December 31, 2025, supported by a $132.25 million private placement and the acquisition of the Crescent mine.

Key Details

  • Consolidated Silver Production: 2.65 million ounces for 2025, a 52% increase compared to 1.74 million ounces in 2024.
  • Cosala Operations (Mexico):
    • Achieved a new annual production record of 1.19 million ounces.
    • Fourth-quarter 2025 output reached a record 463,000 ounces.
    • Performance driven by higher grades mined at the Upper Zone of the San Rafael mine and strong performance at the EC 120 mine.
  • Galena Complex (Idaho):
    • Full-year antimony production totaled approximately 561,000 pounds (including 127,000 pounds in Q4 2025).
    • Full-year copper production totaled approximately 797,000 pounds (including 200,000 pounds in Q4 2025).
    • Antimony-to-copper ratio averaged approximately 0.7:1.
    • Completed two planned shutdowns for shaft upgrades ahead of schedule:
      • Q3 2025: 10 of 14 planned days for No. 3 shaft upgrades.
      • Q4 2025: 10 of 21 planned days for Coeur shaft upgrades (installing a new 2,250-horsepower motor and redundant secondary egress motor).
    • Reintroduced long-hole stoping and deployed an expanded underground mining fleet.
  • Crescent Mine Acquisition:
    • Acquired 100% ownership of the Crescent silver mine in December 2025.
    • $20 million of the recent private placement proceeds was used to finance the cash portion of this acquisition.
    • Major infrastructure and equipment upgrades are underway.
  • Financial Position:
    • Unaudited consolidated cash balance as of December 31, 2025: ~$130 million USD.
    • Increase of ~$90 million USD compared to September 30, 2025.
    • Driven by a $132.25 million USD bought deal private placement closed in December 2025.
  • Antimony Revenue:
    • New offtake agreement with Ocean Partners and Teck, announced in June 2025.
    • Revenue from antimony and copper byproducts begins January 1, 2026.

Notable Quotes

  • Paul Andre Huet, Chairman and CEO: "We capped off a highly successful and transformative 2025 with a 52-per-cent increase in attributable silver production to 2.65 million ounces -- achieved in a robust and rising silver price environment that significantly amplifies the revenue and cash flow benefits of our expanded output."
  • Paul Andre Huet, Chairman and CEO: "This was highlighted by the record year at Cosala, where our team delivered the operation's best-ever annual and quarterly silver output for USA while at the same time ramping up the new EC 120 mine to reach commercial production."
  • Paul Andre Huet, Chairman and CEO: "At Galena, consistent productivity gains came alongside our focus on major capital projects and the integration of the newly acquired Crescent mine... We recently concluded a planned 10-day shutdown in Q4 2025 to fast-track upgrades by installing a new 2,250-horsepower motor and redundant secondary egress motor at the Coeur shaft -- derisking the operation and further supporting our ambitious growth trajectory."
Read the original news release →

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Americas produced 665,000 oz of silver in q2 despite the galena fire, maintaining fy26 guidance and completing a shaft upgrade while burning $33m in cash.

Production / Operations Jun 25, 2026 · 06:31

Americas Gold and Silver Completes Phase 2 of No. 3 Shaft Upgrades at Galena, Increasing Current Hoisting Capacity by 100% and Provides Operations Update

Production / Operations