Key Takeaways HL boosted silver output in Q3 as Greens Creek, Lucky Friday, and Keno Hill delivered solid production resultsHL is investing in Greens Creek and advancing projects to expand capacity and access higher-grade ore.HL's growth outlook is supported by Keno Hill gains and approval to start Polaris exploration in 2026.Hecla Mining Company (HL) is benefiting from strong performance across its operating assets. In the third quarter of 2025, the company’s Greens Creek mine in Alaska produced 2.3 millio ...

Core Insights - Americas Gold and Silver Corporation reported a significant increase in consolidated silver production, achieving 765,000 ounces in Q3-2025, a 98% increase year-over-year and an 11% increase quarter-over-quarter, driven by operational improvements at the Galena Complex and progress at the Cosalá Operations [3][11][15] - The company experienced a consolidated revenue increase to $30.6 million for Q3-2025, a 37% rise compared to $22.3 million in Q3-2024, attributed to higher silver production and realized prices despite lower production of zinc and lead [3][4][10] - The company confirmed the viability of supplying significant antimony production to meet U.S. domestic supply requirements, with year-to-date antimony production reported at 447,466 pounds [3][8][19] Production and Operations - Consolidated silver production included approximately 440,000 ounces from the Galena Complex, a 36% increase from Q3-2024, and 325,000 ounces from the Cosalá Operations, a 70% increase year-over-year [3][15][19] - The Galena Complex's production was supported by consistent access to higher-grade tetrahedrite ore, while the Cosalá Operations transitioned into the high-grade EC120 Project [3][15][19] - The company completed a planned 10-day shutdown for Phase 1 upgrades to the Galena No. 3 Shaft, achieving a 100% productivity improvement ahead of schedule [3][5][14] Financial Performance - The company reported a net loss of $15.7 million for Q3-2025, slightly improved from a net loss of $16.1 million in Q3-2024, as it continues to invest strategically in operations [3][4][10] - Adjusted loss for Q3-2025 was $4.3 million, an improvement from an adjusted loss of $11.8 million in Q3-2024, with adjusted EBITDA of $1.9 million compared to an adjusted EBITDA loss of $1.3 million in the prior year [4][10][48] - Cash and cash equivalents stood at $39.1 million as of September 30, 2025, with $50 million remaining undrawn on the existing credit facility [3][10] Cost Metrics - The average cost of sales per silver equivalent ounce produced was $22.95, with cash costs averaging $24.11 and all-in sustaining costs at $30.06 for Q3-2025 [3][12][40] - Cash costs per silver ounce increased compared to the previous year, primarily due to lower by-product credits as the company transitions into new mining zones [12][35][39] Strategic Initiatives - The company engaged Lot Sixteen, a government relations firm, to discuss support for antimony production with the U.S. Government and explore the potential construction of a dedicated antimony processing plant in Idaho [3][8][19] - Recent metallurgical testing confirmed over 99% antimony extraction from copper concentrate, indicating a strong potential for future revenue from antimony [6][7][8] - The company is focused on increasing production and lowering costs through various operational improvements and capital investments [4][5][10]

Production & Outlook - 2025 consolidated silver production is projected to be 450万-520万盎司[16] - 2025 consolidated gold production is projected to be 31000-34000盎司[16] - H1 2025 silver equivalent production reached 440万盎司，包括来自Kolpa的贱金属产量[22,23] Kolpa Mine Acquisition & Performance - Kolpa矿的收购预计将使Endeavour的年产量增加约510万盎司银当量[30] - Kolpa在2024年生产了200万盎司银，19800吨铅，12600吨锌和500吨铜（合计510万盎司银当量）[27,36] - Q2 2025 Kolpa生产了380638盎司银，3503吨铅，2316吨锌和58吨铜，总计805032盎司银当量[32] Terronera Project - Terronera项目预计年产400万盎司银和38000盎司黄金，即700万盎司银当量，矿山寿命为10年[71] - 截至2025年6月30日，Terronera项目的资本支出约为33800万美元[67] - Terronera项目的概略寿命期内平均品位为374克/吨银当量[70] Financial Highlights - 截至2025年8月12日，市值约为17亿美元[119] - 截至2025年8月12日，现金头寸为5250万美元[119] Resources & Reserves - Guanacevi的探明储量为20万吨，银当量品位为506克/吨，含有330万盎司银当量[44] - Bolanitos的探明储量为8万吨，银当量品位为259克/吨，含有60万盎司银当量[56] - Terronera的概略储量为740万吨，银当量品位为374克/吨，含有8880万盎司银当量[66]