Americas Gold & Silver Corp (USAS) Form 6-K — Aug 14, 2026
Americas Gold and Silver reported Q2 2026 net revenue of $46 million, up 71% year-over-year from $27.0 million, with first-half revenue of $114 million, up 126% -- nearly matching all of fiscal 2025 in six months. Growth was driven primarily by higher realized silver prices, which averaged $67.04/oz in the quarter versus $34.22/oz a year earlier. The company narrowed its Q2 net loss to $5.0 million ($0.02 per share) from $15.0 million a year ago and swung to positive adjusted EBITDA of $12.0 million from a $4.1 million loss. Management reaffirmed full-year guidance of 3.2-3.6 million silver ounces at AISC of $30-35/oz, though Q2 AISC of $40.63 and H1 AISC of $36.92 ran above the range.
Key figures
- Revenue
- 46000000
- Guidance
- 2026 silver production of 3.2-3.6 million oz at AISC of $30-35/oz sold; total capital investments $90-120 million (sustaining $30-40M, growth $60-80M); exploration capital $15-20 million
- Revenue Yoy
- +71% YoY in Q2 ($46M vs $27.0M); +126% YTD ($114M vs $50.5M)
- Cash Position
- 88900000
- H1 aisc
- $36.92/oz
- Q2 aisc
- $40.63/oz
- Ytd net income
- +$5.0 million YTD 2026 (vs -$34.7 million YTD 2025)
- Q2 2026 revenue
- $46 million (vs $27.0 million Q2 2025)
- Working capital
- $48.6 million (vs $67.5 million at Q4 2025)
- Ytd 2026 revenue
- $114 million (vs $50.5 million YTD 2025)
- Adjusted ebitda q2
- $12.0 million (vs -$4.1 million Q2 2025)
- Adjusted earnings q2
- -$0.9 million ($0.00/share) vs -$12.1 million Q2 2025
- Cosala cash costs q2
- $16.91/oz (vs $30.61/oz Q2 2025)
- Galena cash costs q2
- $35.26/oz (vs $23.39/oz Q2 2025)
- Silver production q2
- 665,000 oz
- Shares issued to sprott
- 7,956,696
- Debt obligations settled
- ~$76 million of variable silver and gold delivery obligations
- Galena phase2 investment
- ~US$1.1 million
- Realized silver price q2
- $67.04/oz (vs $34.22/oz Q2 2025)
- Cosala silver production q2
- 337,000 oz (up 26% YoY)
- Galena silver production q2
- 328,000 oz (vs ~420,000 oz Q2 2025)
- Shares issued to royal gold
- 2,652,532
- Gold delivered to royal gold
- 5,000 oz
- Hoisting capacity improvement
- ~150% (42 stph to 85 stph sustained, 105 stph peak; ~1,350 tons/day, +50%)
- Silver equivalent production q2
- ~801,000 oz (down 5% YoY)
AI analysis
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