Americas Gold and Silver (USAS) reported a strong third quarter of 2026, driven by record silver production and higher metal prices. The company produced just over 800,000 ounces of silver and sold approximately 860,000 ounces, with revenue rising to $51 million from $30 million a year earlier. The net loss narrowed to $5.6 million from $16 million, reflecting improved financial performance.
CEO Paul Huet highlighted that the company was on pace to reach the lower end of its full-year production guidance of 3.2 million to 3.6 million ounces. CFO Warren Varga noted that silver sales increased 17% year over year, with the average realized silver price at $61 per ounce, up from $40 in the prior-year quarter. For the first nine months of 2026, revenue rose 106% year over year to $167 million.
The Cosalá operation in Mexico produced approximately 420,000 ounces of silver in the third quarter, up 23% from the preceding quarter and 28% from a year earlier. Huet attributed the gain to higher grades, improved underground movement, and progress into the higher-grade EC120 zone. Recent drilling at San Rafael Upper and EC120 returned grades two to three times those in the previously reported inferred mineral resource.
At the Galena Complex, production was just under 400,000 ounces of silver as the operation continued to recover from temporary interruptions. Huet emphasized prioritizing infrastructure and mine development to support sustained higher production. The company ended September with $63 million in cash and equivalents and $23 million in working capital, with another $15 million available under an existing term loan facility.