Precious metals miner Americas Gold and Silver has reported a 54% quarter-on-quarter increase in silver production in the second quarter of 2025, delivering 689 000 oz of silver compared with 446 000 oz in the first quarter.

The Toronto-based miner said on Tuesday its unaudited cash balance stood at $61.7-million at the end of June, up from $8.8-million three months earlier. The increase reflects the receipt of the first $50-million tranche of a $100-million senior secured term loan facility and $11.5-million from a non-brokered private placement, which was a precondition to the facility.

“I am extremely pleased with our very strong second-quarter results which were a 54% improvement on the first quarter of this year,” said CEO Paul Andre Huet.

“After spending significant effort underground at Galena conducting numerous time studies, engineering work, productivity-focused projects and implementing both new equipment and adjusting the mining method, our operation in Idaho delivered a 34% quarter-over-quarter increase – a tremendous result by the team.”

At the Cosalá Operations in Sinaloa, Mexico, production more than doubled quarter-on-quarter, rising 103% as the mine advances towards its transition into the EC120 zone later this year.

“At Cosalá, outstanding efforts by our operating team delivered a 103% improvement on the first quarter as the operation progresses on schedule towards the transition into EC120 later this year,” Huet said.

“Overall, we are delighted with the results across our operations after just two quarters at the helm with the new combined team working very well together.”

The miner said it continued to invest in its revitalisation and growth plan during the quarter, in line with budget.

“The strong second-quarter production and our significantly bolstered balance sheet have set us up with the resources we need to continue executing on the initial phases of our operational strategy focused on unlocking the massive potential of our asset base for our shareholders,” said Huet.

“Overall, our operational performance in the first half of 2025 puts us in a very favourable position with respect to achieving our goals for 2025 as we build our growth momentum. We look forward to providing further updates as we continue our 2025 development and drill programmes.”

Americas Gold and Silver gained full control of the Galena complex in December by increasing its ownership from 60% to 100% in a transaction with Eric Sprott, who remains its largest shareholder with a 20% interest. The company is targeting more than 80% of revenue from silver by the end of 2025.