Americas Silver Corporation Reports First Quarter 2019 Financial Results - Seite 2

“The San Rafael mine had a record quarter due to improved recovery, higher mill throughput, and increased grades, with substantial increases in silver and by-product production,” said Darren Blasutti, President & CEO of Americas Silver. “Earnings are expected to improve in the second half of the year with the remaining costs for the Pershing acquisition and Sandstorm financing to be captured in the second quarter. Development of Relief Canyon is beginning as expected with construction activities ramping up on schedule.”

Consolidated Production and Operating Costs

Consolidated Production and Cost Details
			Q1 2019			Q1 2018
Total ore processed (tonnes milled)			182,029			163,875
Silver produced (ounces)			393,824			397,035
Zinc produced (pounds)			11,263,623			7,332,978
Lead produced (pounds)			8,211,429			7,624,685
Silver equivalent produced (ounces)			1,754,839			1,613,711
Silver recovery (percent)			77.2			79.4
Silver grade (grams per tonne)			87			95
Silver sold (ounces)			380,163			404,649
Zinc sold (pounds)			10,864,404			7,259,622
Lead sold (pounds)			7,965,271			7,895,231
Cost of sales ($ per silver equivalent ounce)			$7.11			$8.14
Silver cash cost ($ per silver ounce)			($0.50)			($2.73)
All-in sustaining cost ($ per silver ounce)			$5.54			$6.17

Consolidated silver equivalent production increased due to record production results at the Cosalá Operations driven by sustained improvements in mill throughput, grade, and metal recovery to concentrate with San Rafael sustaining an average milling rate of approximately 1,750 tonnes per operating day, cumulatively resulting in 54% greater zinc and 73% greater lead production. . The Galena Complex negatively impacted consolidated production during the quarter as a result of unplanned mill downtime, due to problems with the mill pinion bearing in January, and the loss of two high-tonnage stopes in February and March, resulting in a cumulative loss of approximately one month’s production during Q1-2019. Performance at the Galena Complex is slowly improving and should return to expected levels by the end of Q2-2019. The increase in cash costs was primarily a result of the operational challenges experienced at the Galena Complex along with lower realized prices recognized on silver, zinc, and lead during Q1-2019 compared to Q1-2018.