TORONTO, ONTARIO – August 9, 2017 – Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS) (“Americas Silver” or the “Company”) today reported consolidated financial and operational results for the second quarter of 2017.
This earnings release should be read in conjunction with the Company’s Second Quarter Production and Cost Update, Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on the Americas Silver Corporation SEDAR profile at www.sedar.com, on its EDGAR profile at www.sec.gov, and are also available on the Company’s website at www.americassilvercorp.com. All figures are in U.S. dollars unless otherwise noted.
Second Quarter Highlights
- Revenues of $17.2 million in Q2, 2017 compared with revenues of $12.8 million in Q2, 2016.
- Cash flow generated from operating activities1 in the first 6 months of 2017 of $6.3 million, including approximately $3.2 million in Q2, 2017, compared to cash generated from operating activities of approximately $1.6 million for the first 6 months of 2016, including $0.7 million in Q2, 2016.
- A net income of $0.9 million or $0.02 cents per share in Q2, 2017, compared with a net loss of ($2.1) million or ($0.07) cents per share in Q2, 2016.
- Consolidated silver production for the quarter of approximately 558,000 silver ounces and 1.2 million silver equivalent2 ounces, representing increases of 1% and 18%, respectively, compared to Q2, 2016.
- Consolidated cash costs3 for the quarter were approximately $6.31 per silver ounce, a decrease 45% year-over-year, while consolidated all-in sustaining costs2 were approximately $9.74 per silver ounce, a decrease of 33% year-over-year.
- San Rafael remains on budget and on time for the start of production by the end of Q3, 2017.
- Guidance for 2017 remains at 2.0 – 2.5 million ounces of silver production and silver equivalent production of 5.0 – 5.5 million ounces 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.
- Americas Silver is pleased to announce the appointment of Manuel Rivera to its Board of Directors effective August 2, 2017.
- Cash balance at June 30, 2017 of $12.8 million with net working capital of approximately $18.3 million.