RHJ/iStock via Getty Images

RHJ/iStock via Getty Images

Americas Gold and Silver (NYSE:USAS ) said on Tuesday its Q1 attributable production totaled 300K silver oz and 1.27M silver equivalent oz, up a respective 45% and 80% compared with Q4.

The miner said it expects silver production will continue to increase into H2 2022 as output ramps up into the higher-silver grade upper zone of the San Rafael deposit at the Cosalá operation in Mexico and the Galena Hoist project at the Galena complex in Idaho is completed.

Americas Gold and Silver (USAS) maintained guidance for full-year silver equivalent production at 4.8M-5.2M oz, rising to 7M-7.4M oz in 2024.

The company said its balance sheet continues to improve with the resumption of mining at Cosalá in Q4 2021 and stronger metal prices; its cash balance jumped to $7.1M at the end of Q1 from $2.9M as of December 31.

Americas Gold and Silver (USAS) has said it is anticipating significant growth, "but on closer inspection, this is not growth, simply a recovery from lower production levels," Taylor Dart writes in an analysis published recently on Seeking Alpha.