Americas Silver Reports Q1 Output of 308,000 Ounces of Silver

Americas Silver Corp. (TSX:USA,OTCQX:USAPF) announced its production results for the first quarter of 2016, commenting that it achieved consolidated silver output of about 672,000 silver ounces and 1.28 million silver equivalent ounces.
Other highlights are as follows:

• Quarterly production at the Cosalá Operations of approximately 308,000 silver ounces and 609,000 silver equivalent ounces, representing increases of 16% and 6%, respectively, compared with Q4, 2015. Cash costs were approximately $7.13 per silver ounce and all-in sustaining costs were $8.60 per silver ounce, down 47% and 53%, respectively, over the previous quarter, and 27% and 39%, respectively, year-over-year.
• Galena Complex silver production for the quarter of approximately 364,000 ounces and 674,000 silver equivalent ounces, representing increases of 9% and 7%, respectively, compared with Q4, 2015. Cash costs of approximately $12.57 per silver ounce and all-in sustaining costs of $15.39 per silver ounce, down 17% and 18%, respectively, over the previous quarter, and 14% and 21%, respectively, year-over-year.
• Guidance for 2016 remains unchanged at 2.5 – 3.0 million ounces in silver production and 5.0 – 5.6 million ounces of silver equivalent production with projected cash costs of $9.00 – $10.00 per silver ounce and all-in sustaining cash costs of $11.75 – $12.75 per silver ounce.
• The Company’s cash balance at March 31, 2016 was $2.8 million.

Darren Blasutti, president and CEO of Americas Silver, commented:

We delivered a solid operational quarter due in large part to the restructuring plan we put in place earlier this year combined with our continued focus on cost reductions and productivity improvements despite lower lead grades at the Galena Complex. For the remainder of the year, our focus will be on improving our Cosalá Operations mine planning, securing financing for our San Rafael project and increasing mining in higher lead grade areas at the Galena Complex in order to maintain our momentum on lowering costs to achieve or exceed our stated guidance for the year.

Click here to read the full Americas Silver Corp. (TSX:USA,OTCQX:USAPF) press release.