TORONTO–(BUSINESS WIRE)–Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS) (“Americas Silver” or the “Company”) today announced consolidated production and operating cost results for the second quarter of 2017 and individually for its Cosalá Operations and Galena Complex. All figures are in U.S. dollars unless otherwise indicated.
Second Quarter Highlights
- Consolidated silver production for the quarter of approximately 558,000 silver ounces and 1.2 million silver equivalent1 ounces, representing increases of 7% and 6%, respectively, when compared to Q1, 2017, and increases of 1% and 18%, respectively, year-over-year.
- Consolidated cash costs2 for the quarter were approximately $6.31 per silver ounce, a decrease of 40% when compared to Q1, 2017 and 45% year-over-year, while consolidated all-in sustaining costs2 were approximately $9.74 per silver ounce, a decrease of 30% when compared to Q1, 2017 and 33% year-over-year.
- As at June 30, 2017, the Company had spent approximately $10.5 million of the revised $18 million budget for the San Rafael development project located in Sinaloa, Mexico and expects to have sufficient resources from cash on hand and cash flow generated from continuing operations to fund the remaining project development. The project is on time and on budget for production before the end of the third quarter.
- Guidance for 2017 remains at 2.0 – 2.5 million ounces of silver production with projected cash costs of $4.00 – $5.00 per silver ounce and all-in sustaining cash costs of $9.00 – $10.00 per silver ounce. Silver equivalent production has been reduced slightly to 5.0 – 5.5 million ounces.
- The Company had cash and cash equivalents of $12.8 million at June 30, 2017.