Americas Gold and Silver operates high-grade silver-copper-antimony mines across Idaho (Galena Complex, plus the newly acquired past-producing Crescent Silver Mine) and Sinaloa, Mexico (Cosalá Operations, including the EC120 silver-copper orebody that reached commercial production in Q1 2026). 2026 guidance calls for 3.2-3.6 million oz of consolidated silver production, supported by a Teck Resources copper/antimony offtake at Galena.
Notable vs. Peers
- Financials score of 6/10 is weaker than the peer average of 7.6/10.
- All-in sustaining cost of $40.63/AgEq oz is 30% higher than the peer producer average of $31.15/AgEq oz.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Per Americas Gold and Silver's own Q3-2023 Results release (15 Nov 2023, verified by direct fetch), 'the current EC120 Project will take advantage of existing infrastructure, facilities, and equipment currently in use at the Cosala Operation's San Rafael Mine' -- an explicit pivot away from the original 2019 Preliminary Feasibility Study, whose 'capital estimate assumed a standalone project.' Initial access to the Zone 120 deposit was developed directly from San Rafael's existing Upper Zone underground workings starting Q3 2023 (the same quarter already recorded, undated, under this miner's existing CONSTRUCTION_START row) rather than from a new standalone portal. This means EC120/Zone 120 is developed under Cosala Operations' existing, already-held mining concessions rather than a permit newly granted specifically for EC120. No dated 'permit granted' event specific to EC120 was found. Same reused-pre-existing-permit shape as HL/San Sebastian and DRD/FWGR (Task #646 batch 1) and TBR/East Kundana (this same batch, above). · Source
- Aug 2024 · Americas Gold and Silver signed a credit and off-take agreement with Trafigura (up to $15M secured credit facility) for the EC120 Project -- the company's real financing/decision-equivalent commitment, following on from development access to Zone 120 that had already commenced Q3 2023 (see CONSTRUCTION_START below). · Source
- Reached — date not disclosed · Development access to the EC120 (Zone 120) deposit at Cosala commenced Q3 2023, using existing infrastructure from the adjacent San Rafael mine. Exact day not confirmed from available sourcing -- recorded reached-but-undated. · Source
- Reached — date not disclosed · Reached, undated at year precision (2024). Americas Gold and Silver's own Full-Year 2024 Results press release (27 Mar 2025, americas-gold.com): 'pre-production sales of EC120 silver-copper concentrate contribut[ed] $3.7 million to net revenue during the [2024 fiscal year]' -- extracted directly from the primary PDF via pdftotext (americas-gold.com-hosted, no bot-wall). EC120 is the same asset already anchoring this miner's on-file CONSTRUCTION_DECISION (2024-08-14, Trafigura credit/offtake agreement) and CONSTRUCTION_START (undated, Q3-2023 development access) rows. Quarter-level precision was checked for and not found in the Q1-2025 results release or a September 2025 metallurgical-breakthrough release; left at year precision rather than guessed. Commercial production was separately declared effective 1 January 2026 (this miner's existing COMMERCIAL_PRODUCTION row). · Source
- Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists across a two-country portfolio: the Cosalá Operations (Sinaloa, Mexico) and the Galena Complex (Idaho, USA), each with long, separate operating histories under different prior owners before consolidation under the current company. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chairman of the Board, President and Chief Executive Officer of Americas Gold and Silver Corporation. Honours graduate, Mining Engineering Technology, Haileybury School of Mines (Ontario); Stanford Executive Program, Stanford School of Business. Career: Chairman & CEO, Karora Resources Inc. (already tracked in this DB, WGX, 2018-2024, through its real C$2.1B merger with Westgold Resources); President, CEO & Director, Klondex Mines Ltd. (2012-2018, through its real C$740M acquisition by Hecla Mining Company). Two real, completed, large-scale value-creation exits back to back.
Executive Vice President, Corporate Development of Americas Gold and Silver Corporation. Career: EVP Corporate Development, Karora Resources Inc. (already tracked in this DB, WGX, through its real C$2.1B merger with Westgold Resources) -- the same real company/transaction as colleagues Paul Andre Huet and Michael Doolin; co-founder, Invert Inc. (carbon-reduction technology); SVP Mining Equity Research, GMP Securities; earlier career at Wardrop Engineering (now Tetra Tech).
Chief Financial Officer of Americas Gold and Silver Corporation. 25+ years of progressive financial leadership. Member, Canadian Institute of Chartered Accountants and CFA Institute. Career: Senior Director, Corporate Development, Barrick Gold Corp. (already tracked in this DB, ABX, 2006-2011); CFO, U.S. Silver & Gold, Inc. (~2011-2014) -- a literal corporate predecessor of Americas Gold and Silver itself (Scorpio Mining Corporation's real Dec 2014 merger with U.S. Silver & Gold formed the entity later rebranded Americas Silver Corporation in 2015, then Americas Gold and Silver; the Galena Complex, Idaho asset he would have touched there is part of the Company's own current asset base, so not scored as an external prior company).
Chief Operating Officer of Americas Gold and Silver Corporation. 35+ years of mining operations and management experience. Career: SVP Technical Services, Karora Resources Inc. (already tracked in this DB, WGX, 2018-2024, through its real C$2.1B merger with Westgold Resources, increasing throughput 340,000 to 1.6M tpa) -- the same real company/transaction as colleague Paul Andre Huet; COO, Klondex Mines Ltd. (2012-2018, through its real C$740M acquisition by Hecla Mining, boosting production 8,000oz to 200,000oz/year) -- the same real company/transaction as Huet; earlier career: CEO/COO, Silver Elephant Mining Corp.; Mill Manager, Great Basin Gold Ltd.; Metallurgical Lab Lead, McClelland Laboratories.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Eric Sprott and his Sprott Mining Inc vehicle hold a very large, well-established stake in this company -- a real, named resource-sector financier position. Seven insiders bought stock on the open market over the past year, though that buying is dwarfed by much larger selling, including two large disposals by the Sprott entities themselves.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
EC120 (El Cajon + Zone 120 deposits, part of the Cosala Operations, Sinaloa, Mexico; ore processed at the existing Los Braceros plant): the ONLY project within Americas Gold and Silver's portfolio with a quantified, disclosed NPV/IRR/mine-life this pass. Source is the company's own 3 Apr 2019 Preliminary Feasibility Study (PFS) press release -- after-tax NPV5%=US$33M, after-tax IRR=47% (pre-tax NPV5%=US$43M, IRR=61%), 5-year mine life, P&P reserve of 2.9 Mt at 157 g/t Ag/0.42% Cu (14.5 Moz Ag + 26.5 Mlb Cu contained), average annual production 2.5 Moz Ag + 4.6 Mlb Cu, LOM AISC ~US$10.80/oz Ag. VINTAGE CAVEAT: this is a 2019-dated study; construction began Q3 2023, EC120 pre-production sales contributed US$45M to 2025 revenue, and commercial production was declared at the start of 2026 (per americas-gold.com's EC120 exploration/Cosala pages and the company's FY2025 results release) -- i.e. the asset this PFS describes is now the company's newest producing mine, but no updated (2024-2026) feasibility study with revised economics was found this pass; the original 2019 figures remain the last disclosed quantified study. Written here as the best available real, primary-sourced figures rather than left null, with the vintage flagged for a future recheck once a post-startup study (if any) is published. Galena Complex (Idaho, the company's larger asset by resource -- 87.9 Moz Ag M&I, described qualitatively as supporting 'more than 150 million ounces of silver' and a multi-decade mine life) and San Rafael (Cosala, Mexico) each have their own May 2026 NI 43-101 technical reports (per americas-gold.com/operations/technical-reports/) but neither is a PFS/FS-type economic study with a quantified NPV/IRR/mine-life-in-years -- they are Mineral Resource & Reserve / Life-of-Mine updates. Company-level dcfNpvUsd/irrPct/mineLifeYears are therefore EC120-only, not company-wide -- flagged, not decided as a permanent convention.
Americas Gold and Silver's 2025 Resource & Reserve Update (effective 31 Oct 2025, released 30 Mar 2026): consolidated Proven+Probable silver Mineral Reserve of 25.8 Moz at 272 g/t across Galena (16.3 Moz at 482 g/t, up 2% YoY) and Cosalá (9.6 Moz at 156 g/t). Consolidated Measured+Indicated silver Mineral Resources of 115.7 Moz (up 10%); Inferred of 133.3 Moz (up 15%). No gold/copper reserve ounces separately disclosed; reserve reporting is silver-only.