USAS Boosts Balance Sheet Strength With Gold Settlement Agreement

Americas Gold and Silver (USAS) reached settlements that clear its outstanding precious-metals delivery obligations, notably resolving 8,861 oz of gold with Royal Gold/IRC (cleared via 5,000 oz of gold plus 2,652,532 shares) and terminating 592,000 oz of silver obligations with Sprott in exchange for shares. The gold settlement will be financed with cash and roughly $7M from unwinding in‑the‑money gold hedges. Combined transactions eliminate more than $85M of variable future debt and remove scheduled physical deliveries and hedge-related sales that could have pressured metal markets. For XAUUSD (gold) this reduces a small, direct source of future physical supply and hedging unwind risk, which is modestly supportive for prices; the silver settlement has a similar, supportive implication for XAGUSD. The deals materially strengthen USAS’s balance sheet and are presented as positive for shareholders, coinciding with a strong share-price performance over the past year.