Americas Gold and Silver Corporation reported its consolidated financial and operational results for the first quarter ended March 31, 2025, with revenue increasing by 12% year-over-year to $23.5 million. Despite the revenue growth, the company posted a net loss of $19 million and an adjusted EBITDA loss of $5.5 million for the quarter.
Consolidated silver production for Q1 2025 was 446,000 ounces, an 80,000-ounce increase from the previous quarter, but lower than Q1 2024 production of 484,000 ounces. The Galena Complex produced 314,000 ounces of silver, a 1% increase from Q1 2024, while Cosalá Operations saw a 55% decrease to 132,000 ounces due to a transition to the higher-grade EC120 mining area. The EC120 project contributed $2.3 million to net revenue.
The company's independent registered public accounting firm included a going concern qualification in its audit report for the fiscal year ended December 31, 2024. Operational updates included significant progress on infrastructure projects at Galena, such as advancing the 55-179 decline and improving ventilation, and the EC120 project at Cosalá is back on schedule for ramp-up.
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