Americas Gold & Silver Corp Files 20-F Annual Report

Ticker: USAS · Form: 20-F · Filed: Apr 30, 2024 · CIK: 1286973

Sentiment: neutral

Topics: 20-F, Annual Report, Americas Gold & Silver, Mining, Financials

TL;DR

<b>Americas Gold & Silver Corp has filed its 20-F annual report for the fiscal year ended December 31, 2023.</b>

AI Summary

Americas Gold & Silver Corp (USAS) filed a Foreign Annual Report (20-F) with the SEC on April 30, 2024. Filed 20-F annual report for the period ending December 31, 2023. Company name changed from Americas Silver Corp to Americas Gold & Silver Corp on September 10, 2015. Previous name change from SCORPIO MINING CORP on April 14, 2004. Business and mailing address located at 145 King St. W., Suite 2870, Toronto, ON M5H 1J8. Business phone number is 604-678-9639.

Why It Matters

For investors and stakeholders tracking Americas Gold & Silver Corp, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — Americas Gold & Silver Corp shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant new risks or material changes beyond routine disclosures.

Analyst Insight

Review the full 20-F filing for detailed financial statements, operational updates, and risk factor analysis to understand the company's performance and outlook.

Key Numbers

Key Players & Entities

FAQ

When did Americas Gold & Silver Corp file this 20-F?

Americas Gold & Silver Corp filed this Foreign Annual Report (20-F) with the SEC on April 30, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Americas Gold & Silver Corp (USAS).

Where can I read the original 20-F filing from Americas Gold & Silver Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Americas Gold & Silver Corp.

What are the key takeaways from Americas Gold & Silver Corp's 20-F?

Americas Gold & Silver Corp filed this 20-F on April 30, 2024. Key takeaways: Filed 20-F annual report for the period ending December 31, 2023.. Company name changed from Americas Silver Corp to Americas Gold & Silver Corp on September 10, 2015.. Previous name change from SCORPIO MINING CORP on April 14, 2004..

Is Americas Gold & Silver Corp a risky investment based on this filing?

Based on this 20-F, Americas Gold & Silver Corp presents a relatively low-risk profile. The filing is a standard annual report (20-F) and does not contain immediate, significant new risks or material changes beyond routine disclosures.

What should investors do after reading Americas Gold & Silver Corp's 20-F?

Review the full 20-F filing for detailed financial statements, operational updates, and risk factor analysis to understand the company's performance and outlook. The overall sentiment from this filing is neutral.

How does Americas Gold & Silver Corp compare to its industry peers?

Americas Gold & Silver Corp operates in the metal mining industry, focusing on the exploration, development, and production of precious and base metals.

Are there regulatory concerns for Americas Gold & Silver Corp?

The company is subject to various regulations governing mining operations, environmental standards, and financial reporting, as indicated by its 20-F filing with the SEC.

Industry Context

Americas Gold & Silver Corp operates in the metal mining industry, focusing on the exploration, development, and production of precious and base metals.

Regulatory Implications

The company is subject to various regulations governing mining operations, environmental standards, and financial reporting, as indicated by its 20-F filing with the SEC.

What Investors Should Do

  1. Thoroughly review the financial statements and management's discussion and analysis (MD&A) within the 20-F for detailed insights into 2023 performance.
  2. Examine the risk factors section to understand potential challenges and uncertainties facing the company.
  3. Note any significant events or disclosures made after the reporting period, as these could impact future operations or stock performance.

Key Dates

Year-Over-Year Comparison

This is the initial 20-F filing for the period ending December 31, 2023, following the standard annual reporting cycle.

Filing Stats: 4,450 words · 18 min read · ~15 pages · Grade level 17.5 · Accepted 2024-04-30 16:31:59

Key Financial Figures

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No TABLE OF CONTENTS Page PART I 8

– IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1 – IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 8

– OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2 – OFFER STATISTICS AND EXPECTED TIMETABLE 8

– KEY INFORMATION

ITEM 3 – KEY INFORMATION 8 A. [Reserved] 8 B. Capitalization and Indebtedness 8 C. Reasons for the Offer and Use of Proceeds 8 D.

– INFORMATION ON THE COMPANY

ITEM 4 – INFORMATION ON THE COMPANY 31 A. History and Development of the Company 31 B. Business Overview 35 C. Organizational Structure 37 D. Property, Plant and Equipment and Exploration and evaluation assets 37

– UNRESOLVED STAFF COMMENTS

ITEM 4A – UNRESOLVED STAFF COMMENTS 58

– OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5 – OPERATING AND FINANCIAL REVIEW AND PROSPECTS 58 A. Operating Results 58 B. Liquidity and Capital Resources 70 C. Research and development, patents and licenses, etc. 74 D. Trend Information 74 E. Critical Accounting Estimates 74

– DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6 – DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 75 A. Directors and Senior Management 75 B. Compensation 79 C. Board Practices 86 D. Employees 88 E. Beneficial Share Ownership 88 F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation 96

– MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7 – MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 97 A. Major Shareholders 97 B. Related Party Transactions 97 C. Interests of Experts and Counsel 97 2 Table of Contents

– FINANCIAL INFORMATION

ITEM 8 – FINANCIAL INFORMATION 97 A. Consolidated Statements and Other Financial Information 97 B. Significant Changes 98

– THE OFFERING AND LISTING

ITEM 9 – THE OFFERING AND LISTING 98 A. Offering and Listing Details 98 B. Plan of Distribution 98 C. Markets 98 D. Selling Shareholders 98 E.

Dilution

Dilution 98 F. Expenses of the Issue 98

– ADDITIONAL INFORMATION

ITEM 10 – ADDITIONAL INFORMATION 98 A. Share Capital 98 B. Memorandum and Articles of Association 98 C. Material Contracts 102 D. Exchange Controls 103 E. Taxation 103 F. Dividends and Paying Agents 109 G. 109 H. Documents on Display 109 I. Subsidiary Information 109 J. Annual Report to Security Holders 110

– QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11 – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 110 A. Credit risk 110 B. Liquidity risk 110 C. Interest rate risk 111 D. Foreign exchange risk 111

– DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12 – DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 112 PART II 113

- DEFAULTS, DIVIDEND ARREARS AND DELINQUENCIES

ITEM 13 - DEFAULTS, DIVIDEND ARREARS AND DELINQUENCIES 113

- MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14 - MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 113

- CONTROLS AND PROCEDURES

ITEM 15 - CONTROLS AND PROCEDURES 113 A. Disclosure Controls and Procedures 113 B. Management's annual report on internal control over financial reporting 113 C. Attestation report of registered public accounting firm 113 D. Changes in internal controls over financial reporting 113 3 Table of Contents

– [RESERVED]

ITEM 16 – [RESERVED] 114

– AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A – AUDIT COMMITTEE FINANCIAL EXPERT 114

– CODE OF ETHICS

ITEM 16B – CODE OF ETHICS 114

– PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C – PRINCIPAL ACCOUNTANT FEES AND SERVICES 114

– EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D – EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 115

– PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E – PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 115

– CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F – CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 115

– CORPORATE GOVERNANCE

ITEM 16G – CORPORATE GOVERNANCE 115

– MINE SAFETY DISCLOSURE

ITEM 16H – MINE SAFETY DISCLOSURE 116

– DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I – DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 116

– INSIDER TRADING POLICIES

ITEM 16J – INSIDER TRADING POLICIES 116

– CYBERSECURITY

ITEM 16K – CYBERSECURITY 116 PART III 117

- FINANCIAL STATEMENTS

ITEM 17 - FINANCIAL STATEMENTS 117

- FINANCIAL STATEMENTS

ITEM 18 - FINANCIAL STATEMENTS 117

– EXHIBITS

ITEM 19 – EXHIBITS 118 4 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report of Americas Gold and Silver Corporation (" Americas Gold and Silver " or " the Company "), including any documents incorporated by reference herein contains "forward-looking statements" or "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, " forward-looking statements "). These forward-looking statements are presented for the purpose of assisting the Company's securityholders and prospective investors in understanding management's views regarding those future outcomes and may not be appropriate for other purposes. When used in this Annual Report, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. All such forward-looking statements are subject to important risks, uncertainties and assumptions. These statements are forward-looking because they are based on current expectations, estimates and assumptions. It is important to know that: (i) unless otherwise indicated, forward-looking statements in this Annual Report describe expectations as at the date hereof; and (ii) actual results and events could differ materially from those expressed or implied. Capitalized terms used but not defined in this "Forward-Looking Statements" section of this Annual Report shall have the meaning ascribed to such terms elsewhere in this Annual Report. Specific forward-looking statements in this Annual Report include, but are not limited to: any objectives, expectations, intentions, plans, results, levels of activity, goals or achievements; estimates of mineral reserves and resources; the realization of mineral reserve estimates; the impairment of mining interests and non-producing properties; the timing and am

- IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1 - IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

- OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2 - OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

- KEY INFORMATION

ITEM 3 - KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not Applicable. C. Reasons for the Offer and Use of Proceeds Not Applicable. D. Risk Factors The Company's production estimates may not be achieved as mining and exploration activities and future mining operations are, and will be, subject to operational risks and hazards inherent in the mining industry. The Company currently has two operating mines: the Galena Complex in Idaho, U.S.A. and the Cosal Operations in Sinaloa, Mexico, and is advancing technical studies at Relief Canyon in Nevada, U.S.A. following a suspension of mining activities in August 2021 after it had reached commercial operation in early 2021. The Galena Complex is currently undergoing a Recapitalization Plan that commenced in October 2019. No assurance can be given that the intended or expected production estimates will be achieved by the Company's operating mines or in respect of any future mining operations in which the Company owns or may acquire interests. Failure to meet such production estimates could have a material effect on the Company's future cash flows, financial performance and financial position. Production estimates are dependent on, among other things, the accuracy of mineral reserve estimates, the accuracy of assumptions regarding ore grades and recovery rates, ground conditions and physical characteristics of ores, such as hardness and the presence or absence of particular metallurgical characteristics and the accuracy of estimated rates and costs of mining and processing. Actual production may vary from its estimates for a variety of other reasons, including: actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; shortterm operating factors such as the need for sequential development of ore bodies and the processing of new or different ore grades from those planned; mine failures, slope and underground rock failures or equipment

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