Mentioned:
The new euphoria around silver continues to find its way into the public markets. And now, it’s leading to fresh funding for scaling up silver production globally.
What’s happening:
- Americas Gold and Silver (NYSE: USAS) has successfully raised $50M CAD in a new financing round
Why it matters:
- Americas Gold and Silver has fully shifted their focus to the opportunity in silver, which has been seeing a large uptick in prices recently as well as sparking a flurry of new acquisitions in the public markets
By the numbers:
- 80% of the future revenue of Americas Gold and Silver is expected to come from silver production
- Americas Gold and Silver expects to scale up their silver production by 200% over the next 12 months
- Across their multiple silver mines in the United States and Mexico, Americas Gold and Silver has deposits of approximately 75M ounces of silver
Going deeper:
- Americas Gold and Silver owns a majority equity stake in the Galena Complex in Idaho, which is a historic silver mine that also contains large amounts of high grade copper
The intrigue:
- Legendary mining investor and natural resource financier Eric Sprott is one of the largest individual shareholders of Americas Gold and Silver and has also recently been placing bets on other publicly listed early stage silver exploration companies
