Canadian precious-metals producer, Americas Gold & Silver, has announced an increase in silver production for the third quarter. The company anticipates that this positive momentum will continue as they mine into higher-grade zones of the deposits.
Production Growth
In the third quarter, consolidated attributable silver production rose by 17%, reaching approximately 390,000 ounces. This is a significant increase from the third quarter of 2022, which saw production at around 330,000 ounces. The reported silver equivalent production was influenced by higher silver prices and lower zinc prices in 3Q-2023 compared to 3Q-2022.
Outlook for the Future
Americas Gold is optimistic about the future and expects further growth in silver production. This can be attributed to the presence of higher-grade silver areas in both the Upper Zone and the transition zone.
According to Chief Executive Darren Blasutti, October production has already started off strong, and they are confident that the fourth quarter of 2023 will be their strongest in terms of silver production. This comes after a challenging operating quarter in 3Q-2023.
Annual Guidance
While the company anticipates strong performance in the final quarter, they do expect to be at the lower end of their annual guidance for consolidated attributable silver production. The range for this guidance is between 2.2 million and 2.6 million ounces. They also expect to fall within the lower end of the consolidated attributable silver-equivalent production range of 5.5 million and 6 million ounces.
For more information, contact Adriano Marchese.