SoFi CEO enters prepaid forward contract on 1.5 million shares
TORONTO - Americas Gold and Silver Corporation (TSX:USA) (NYSE American:USAS), a mining company with a market capitalization of $1.93 billion and an attractive P/E ratio of 7.39, has identified a high-grade upper extension of the 149 Vein at its Galena Complex in Idaho, according to a press release statement. According to InvestingPro data, the company maintains an impressive 11.04% dividend yield and has demonstrated solid revenue growth of 11.65% over the last twelve months.
Recent exploration drilling revealed significant intercepts, including 24,913 grams per ton silver and 16.9% copper over 0.21 meters. Two additional drill holes returned 2,816 g/t silver over 1.05 meters and 2,354 g/t silver over 1.58 meters, demonstrating approximately 120 meters of vertical continuity above the current mining level. InvestingPro analysis shows the company maintains relatively low price volatility, making it an interesting option for investors seeking stability in the volatile mining sector. Get access to 6 additional exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
The company believes these findings represent the upper extension of the 149 Vein, which is currently being mined below these intercepts. The active mining area produces 600-700 tons per cut averaging 700-950 g/t silver and 0.6-0.7% copper.
To date, 4,878 meters have been drilled from the exploration station out of a planned 18,100 meters. The vein remains open for expansion, with ongoing drilling focused on infilling and testing adjacent targets.
Separately, Americas Gold and Silver announced the completion of its previously announced share consolidation on a 1-for-2.5 basis. Trading on a post-consolidation basis is expected to begin Tuesday, August 26, 2025, on both the Toronto Stock Exchange and NYSE American. With a current ratio of 0.86, investors should note that short-term obligations exceed liquid assets, as highlighted in InvestingPro’s detailed financial health analysis available in the Pro Research Report.
The consolidation reduces the number of common shares outstanding from approximately 679.4 million to approximately 271.7 million. The company’s securities, including stock options and warrants, will be proportionally adjusted.
Americas Gold and Silver increased its ownership in the Galena Complex from 60% to 100% in December 2024 through a transaction with Eric Sprott, who remains the company’s largest shareholder with approximately 20% interest.
In other recent news, Americas Gold and Silver Corporation held its annual and special meeting in Toronto, where shareholders approved all nominees for the company’s board of directors. The seven director nominees listed in the management proxy circular dated May 15, 2025, received substantial shareholder support, with approval rates ranging from 98.37% to 99.75%. This reflects a strong endorsement from the shareholders regarding the company’s leadership choices. There were no earnings or revenue results, mergers, or analyst upgrades or downgrades mentioned in the recent developments. The focus of the meeting was primarily on the election of directors, which is crucial for the company’s governance and strategic direction. Shareholders’ overwhelming approval indicates confidence in the current management’s vision and direction.
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