Kitco MINING
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Kitco MINING
From $100M to $1.4B: Americas Gold & Silver’s Comeback Story
Americas Gold and Silver Corporation (TSX: USA; NYSE American: USAS) CEO Paul Huet speaks with Kitco Mining’s Paul Harris about the transformation of the Galena Mine in Idaho and the company’s return to growth across its U.S. and Mexico operations.
Huet says his first goal was to rebuild the foundations for success. “If we want to turn that around, we've got to fix the mine. In order to do that, we need to change the board, change the executive team, change the corporate structure, and the shareholders, and that’s what we did.”
With major shareholder Eric Sprott converting his 40% ownership in Galena into company shares, Huet and his team invested heavily alongside him. “I put 70% of our net worth into this, and I’m very happy we did because so far it’s been very good and there’s a lot of room from here,” he said.
The company has raised $160 million, grown from under $100 million to about $1.4 billion in market value, and restarted exploration for the first time in decades. “There was no exploration at all. Zero exploration dollars.”
Looking ahead, Huet says 2026 will be a pivotal year as the company issues its first production guidance and targets output growth from 1.5 million to 5 million ounces of silver per year. The company also expects stronger revenue as it begins receiving payments for gold, copper, and antimony. “We’re the only mine producing raw antimony in the U.S.”
Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.