Monitor Q3 2026 production to confirm recovery of the deferred high-grade stope at Galena and ramp-up from shaft upgrades.
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Executive Summary
Americas Gold & Silver reported Q2 2026 silver production of 664,971 ounces, 15% lower than Q1 due to an electrical fire at Galena that deferred a high-grade stope into Q3. The company maintained full-year guidance of 3.2-3.6 million ounces at AISC $30-$35/oz, eliminated over $85M in variable debt obligations, and completed Phase 2 of the No. 3 Shaft upgrade, which boosted hoisting capacity by 150%.
Key Facts
- Q2 2026 silver production: 664,971 oz, 15% lower than Q1
- Silver sold: 624,343 oz; lead 2.3M lbs, copper 850k lbs, antimony 97k lbs
- Cash balance: $89M as of June 30, 2026
- Eliminated over $85M in variable future debt obligations
- Full-year 2026 silver guidance maintained: 3.2-3.6M oz at AISC $30-$35/oz
- Completed Phase 2 of No. 3 Shaft modernization; record skipping rates achieved in July
Financial Impact
Production down ~15% sequentially with no revenue or earnings figures; debt reduction of over $85M eliminated future obligations; cash balance $89M in line with expectations.
Risk Factors
- Further operational disruptions at Galena could delay production ramp-up
- Silver price volatility may impact cash flow and AISC guidance achievement
- Cosal Operations remain exposed to Mexican political and security risks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001062993-26-003793 |
| Document: form6k.htm | 0001062993-26-003793 |
| Document: 0001062993-26-003793-index-headers.html | 0001062993-26-003793 |
| Document: 0001062993-26-003793-index.html | 0001062993-26-003793 |
| Document: 0001062993-26-003793.txt | 0001062993-26-003793 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 6-K | $3.07 $3.01 | ▼ −1.95% | ▼ −2.67% | $3.14 (+2.44%) |
Oct 19, 2026 8d ago | 6-K | $3.77 $3.61 | ▼ −4.24% | ▼ −4.58% | $3.14 (−16.58%) |
Oct 13, 2026 14d ago | 6-K | $4.02 $3.70 | ▼ −7.96% | ▼ −6.88% | $3.14 (−21.77%) |
Sep 22, 2026 5w ago | 6-K | $5.26 $4.85 | ▼ −7.79% | ▼ −7.07% | $3.14 (−40.21%) |
Sep 18, 2026 5w ago | 6-K | $5.18 $5.02 | ▼ −3.09% | ▼ −4.64% | $3.14 (−39.29%) |
Sep 17, 2026 5w ago | 6-K | $5.06 $5.18 | ▲ +2.37% | ▲ +2.49% | $3.14 (−37.85%) |
Sep 9, 2026 6w ago | 6-K | $5.09 $5.05 | ▼ −0.79% | ▼ −1.64% | $3.14 (−38.21%) |
Aug 14, 2026 10w ago | 6-K | $5.24 $5.16 | ▼ −1.53% | ▼ −1.05% | $3.14 (−39.98%) |
Aug 11, 2026 11w ago | 6-K | $5.14 $5.19 | ▲ +0.97% | ▲ +0.72% | $3.14 (−38.81%) |
Jul 23, 2026 13w ago | 6-K | $4.06 $3.97 | ▼ −2.22% | ▼ −2.32% | $3.14 (−22.54%) |
US Market Status
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