Adriano Marchese
Canadian precious-metals producer Americas Gold & Silver saw a rise in silver production in the third quarter and said the momentum should continue as mining continues into higher-grade zones of the deposits. The company forecasts hitting the lower end of its yearly guidance.
On production:
Third-quarter consolidated attributable silver production rose 17% totaling about 390,000 ounces compared with about 330,000 ounces in the third quarter of 2022.
“The reported silver equivalent production was impacted by higher silver prices and lower zinc prices in 3Q-2023 versus 3Q-2022, as the company uses realized quarterly prices in its calculations.”
On outlook:
Americas Gold expects to realize an increase in silver production in the near term due the higher-grade silver areas in the Upper Zone and the transition zone.
“October production has started out strongly and the company is confident that 4Q-2023 will be its strongest silver production quarter following a challenging operating quarter in 3Q-2023,” Chief Executive Darren Blasutti said.
For the full year, however, it expects to be at lower end of both the consolidated attributable silver production range of 2.2 million and 2.6 million ounces and consolidated attributable silver-equivalent production range of 5.5 million and 6 million ounces.
Write to Adriano Marchese at [email protected]
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