(Kitco News) - Americas Gold and Silver (TSX: USA) (NYSE: USAS) announced Thursday that in Q3 2022, its consolidated attributable production totaled approximately 1,339,000 silver equivalent ounces, up 365% year-over-year and unchanged quarter-over-quarter.
The company said that silver production is expected to further increase in Q4 2022 as production ramps-up into the higher-silver grade Upper Zone of the San Rafael deposit at the Cosalá Operations and the Galena Complex exploits higher-silver grade stopes.
Americas estimates consolidated Q3 2022 cash cost per silver ounce of $10.01 per ounce and consolidated Q3 2022 all-in sustaining cost per silver ounce of $18.66 per ounce which increased quarter-over-quarter due to lower zinc and lead prices.
The company's 2022 silver equivalent production is expected to be towards the upper end of the guidance of 4.8 to 5.2 million ounces in 2022 with further increases projected at 7.0 to 7.4 million ounces in 2024, increases of approximately 240% and 375%, respectively, compared with 2021.
The Galena Hoist project remains on track with installation expected in late October 2022 and commissioning scheduled to begin in December 2022, it added.
"The company anticipates a strong finish to the year in Q4 2022 with silver equivalent production for the year expected to be meet or exceed the upper end of the guidance range of 4.8 to 5.2 million ounces," stated President and CEO Darren Blasutti. "Silver production is expected to increase at both of our silver operations in Q4 2022 with San Rafael expected to mine the higher-grade Upper Zone and the Galena Complex exploiting more higher-grade silver stopes. The completion of the Galena Hoist is expected to add operational flexibility and significantly increase production at the Galena Complex moving forward."
Americas Gold and Silver Corporation is a growing precious metals mining company with multiple assets in North America. The company owns and operates the Cosalá Operations in Sinaloa, Mexico, manages the 60%-owned Galena Complex in Idaho, USA, and is re-evaluating the Relief Canyon mine in Nevada, USA. The company also owns the San Felipe development project in Sonora, Mexico.
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