Americas Gold & Silver's 477% TSX30 Run Comes With a Financed Production Base

• Americas Gold & Silver Corporation ranked 24th on the Toronto Stock Exchange's 2026 TSX30, an annual ranking of the 30 top-performing companies by dividend-adjusted share price over a three-year period, after a 477% share price gain and $2.2 billion in market capitalization growth.
• 2026 guidance calls for 3.2 million to 3.6 million ounces of silver production at the Company's Galena Complex in Idaho, a roughly 30% increase over 2025, at an all-in sustaining cost (AISC) of $30 to $35 per ounce.
• Agreements with Sprott Mining and Royal Gold in May 2026 eliminated $76 million in future variable metal obligations and more than $28 million in annual debt-servicing costs.
• Measured and indicated silver resources at Galena grew 19% to 87.9 million ounces at 501 grams per tonne, a grade the Company positions among the highest disclosed for a silver asset as at October 31, 2025.
• A 51/49 joint venture (JV) with US Antimony is developing the largest active antimony mine in the United States at Galena, which the Company positions as supporting artificial intelligence (AI), electrification, national security and advanced manufacturing.

TSX30 Placement & Share Price Performance

Americas Gold & Silver Corporation (TSX: USA | NYSE American: USAS) placed 24th on the 2026 TSX30, the Toronto Stock Exchange's annual ranking of its 30 top-performing listed companies by three-year, dividend-adjusted share price return. The company's share price rose 477% over the three-year period ended June 30, 2026, generating $2.2 billion in market capitalization growth on the exchange.

The TSX30 methodology ranks companies by dividend-adjusted share price return over a rolling three-year window rather than by any single operating metric, so the placement reflects a combination of production growth, resource expansion, and balance sheet repair rather than a single catalyst. At 24th on the list, the 477% return ranks among 30 companies the exchange ranks annually by three-year share price performance.

Chairman and Chief Executive Officer of Americas Gold & Silver, Paul Andre Huet, reflected: 

"This performance reflects the transformation of our Company, including significant growth in silver production, a strengthened balance sheet and continued investment in our high-grade North American assets."

Production Growth & Balance Sheet Repair

The production side of that transformation centers on the Galena Complex in Idaho's Silver Valley, where Americas holds 100% ownership. 2026 guidance targets 3.2 million to 3.6 million ounces of silver, up roughly 30% from 2.65 million ounces in 2025, at an all-in sustaining cost (AISC) of $30 to $35 per ounce. The nearby, fully permitted Crescent Silver Mine, acquired in late 2025, adds shared-infrastructure processing capacity with the potential to add approximately 1.5 million ounces of silver production annually; long hole stoping, required to reach that potential, has not yet been implemented at the site. Measured and indicated silver resources at Galena rose 19% year over year to 87.9 million ounces at 501 grams per tonne silver as of October 31, 2025, per the company's mineral resource estimate (MRE) dated March 30, 2026.

Agreements with Sprott Mining Inc. and Royal Gold in May 2026 eliminated a combined $76 million in future variable metal-price-linked obligations, including a 592,000-ounce silver delivery commitment and an 8,861-ounce gold delivery commitment, while removing more than $28 million in annual debt-servicing costs. The company describes the combined effect as reduced derivative and mark-to-market volatility and greater leverage to silver price upside and operational execution.

Antimony & Critical Mineral Positioning

Americas also holds a second, distinct growth line in antimony. Through a 51/49 joint venture (JV) with US Antimony announced in February 2026, the company is developing what it identifies as the largest active antimony mine in the United States at Galena, having produced approximately 561,000 pounds of antimony in 2025 at recoveries above 99% to concentrate. The JV is intended to build a fully integrated domestic antimony supply chain, which the Company positions as supporting artificial intelligence (AI), electrification, national security and advanced manufacturing, alongside the silver volume growth driving the headline TSX30 return. Commercial terms and construction timing for the JV's antimony processing hub have not been disclosed.

Key Takeaways for Investors

The TSX30 placement follows, rather than precedes, the production and balance sheet changes detailed above: it reflects a financing and operating shift already underway rather than serving as a new catalyst on its own. The elimination of $76 million in future variable metal obligations and $28 million in annual debt servicing removes a specific source of dilution and derivative volatility, providing, in the company's own framing, greater leverage to silver price upside and operational execution. 

Production growth of approximately 30% in 2026 and a 19% increase in measured and indicated silver resources at 501 grams per tonne are each disclosed separately from the balance sheet agreements; investors weighing the TSX30 placement can consider them as parallel developments rather than a single, combined driver. The antimony JV with US Antimony is intended to help strengthen America's critical mineral independence, per the Company's stated strategy, adding a distinct exposure from the primary silver production driving the three-year share price return.

What to Watch

Several execution steps remain unconfirmed. The company's 2026 guidance calls for silver production of 3.2 million to 3.6 million ounces at an AISC of $30 to $35 per ounce; neither figure has yet been reported for the full year. Crescent Silver Mine's potential contribution of approximately 1.5 million ounces of annual silver production depends on long hole stoping, which has not yet been implemented at the site. Commercial scale and construction timing for the antimony processing hub under the US Antimony JV have not been disclosed, leaving the near-term revenue contribution from that line unconfirmed.

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