0001286973true--12-312025-09-30Q32025ONCA3.251.671.411.331.502.615.551.420.780.781.381.382.252.253.431.421.580.751.001.052.501.3800012869732025-01-012025-09-300001286973usas:MexicanPesoMember2010-11-012010-11-3000012869732010-11-012010-11-3000012869732018-12-310001286973usas:MexicanPesoMember2018-12-310001286973usas:MexicanPesoMember2010-11-3000012869732010-11-300001286973usas:CosalOperationsMember2025-07-012025-09-300001286973usas:CosalOperationsMember2024-07-012024-09-300001286973usas:CosalOperationsMember2024-01-012024-09-300001286973usas:CosalOperationsMember2025-01-012025-09-300001286973usas:CosalaOperationsMember2024-01-012024-09-300001286973usas:CosalaOperationsMember2024-07-012024-09-300001286973usas:CosalaOperationsMember2025-07-012025-09-300001286973usas:CosalaOperationsMember2025-01-012025-09-300001286973usas:CorporateAndOthersMember2024-01-012024-09-300001286973usas:CorporateAndOthersMember2024-07-012024-09-300001286973usas:CorporateAndOthersMember2025-07-012025-09-300001286973usas:CorporateAndOthersMember2025-01-012025-09-300001286973usas:GalenaComplexMember2024-01-012024-09-300001286973usas:GalenaComplexMember2024-07-012024-09-300001286973usas:GalenaComplexMember2025-07-012025-09-300001286973usas:GalenaComplexMember2025-01-012025-09-300001286973usas:ReliefCanyonSegmentMember2024-01-012024-09-300001286973usas:ReliefCanyonSegmentMember2024-07-012024-09-300001286973usas:ReliefCanyonSegmentMember2025-07-012025-09-300001286973usas:ReliefCanyonSegmentMember2025-01-012025-09-300001286973usas:CosalaOperationsMember2024-12-310001286973usas:CosalaOperationsMember2025-09-300001286973usas:CorporateAndOthersMember2024-12-310001286973usas:CorporateAndOthersMember2025-09-300001286973usas:GalenaComplexMember2024-12-310001286973usas:GalenaComplexMember2025-09-300001286973usas:ReliefCanyonSegmentMember2024-12-310001286973usas:ReliefCanyonSegmentMember2025-09-300001286973usas:GoldMember2025-01-012025-09-300001286973usas:CopperMember2025-01-012025-09-300001286973usas:MXNUSDExchangeRateMember2025-01-012025-09-300001286973usas:CADUSDExchangeRateMember2025-01-012025-09-300001286973usas:USSOFRMember2025-01-012025-09-300001286973usas:USSOFRTwoMember2025-01-012025-09-300001286973usas:USSOFROneMember2025-01-012025-09-300001286973usas:USLIBORMember2025-01-012025-09-300001286973ifrs-full:TradeReceivablesMemberifrs-full:CreditRiskMember2025-09-300001286973ifrs-full:TradeReceivablesMemberifrs-full:CreditRiskMember2024-12-310001286973usas:LevelThreeMember2024-01-012024-12-310001286973usas:LevelThreeMember2025-01-012025-09-300001286973ifrs-full:AtCostMember2024-12-310001286973ifrs-full:AtCostMember2025-09-300001286973usas:LevelTwoMember2024-01-012024-12-310001286973usas:LevelTwoMember2025-01-012025-09-300001286973usas:LevelTwoMember2025-09-300001286973usas:LevelTwoMember2024-12-310001286973usas:LevelOneMember2025-09-300001286973usas:LevelOneMember2024-12-310001286973usas:MXNUSDExchangeRateTenMember2025-01-012025-09-300001286973usas:CADUSDExchangeRateTenMember2025-01-012025-09-300001286973usas:MXNMember2025-09-300001286973usas:CADMember2025-09-300001286973ifrs-full:LaterThanFiveYearsMember2025-09-300001286973ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2025-09-300001286973ifrs-full:NotLaterThanOneYearMember2025-09-300001286973ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2025-09-300001286973usas:OtherLongTermLiabilitiesMemberifrs-full:LaterThanFiveYearsMember2025-09-300001286973usas:OtherLongTermLiabilitiesMemberifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2025-09-300001286973usas:OtherLongTermLiabilitiesMemberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2025-09-300001286973usas:OtherLongTermLiabilitiesMemberifrs-full:NotLaterThanOneYearMember2025-09-300001286973usas:OtherByproductsMember2025-01-012025-09-300001286973usas:OtherByproductsMember2025-07-012025-09-300001286973usas:OtherByproductsMember2024-01-012024-09-300001286973usas:OtherByproductsMember2024-07-012024-09-300001286973usas:LeadMember2025-01-012025-09-300001286973usas:LeadMember2025-07-012025-09-300001286973usas:LeadMember2024-01-012024-09-300001286973usas:LeadMember2024-07-012024-09-300001286973usas:ZincMember2025-01-012025-09-300001286973usas:ZincMember2025-07-012025-09-300001286973usas:ZincMember2024-01-012024-09-300001286973usas:ZincMember2024-07-012024-09-300001286973usas:SilverMember2024-07-012024-09-300001286973usas:SilverMember2024-01-012024-09-300001286973usas:SilverMember2025-01-012025-09-300001286973usas:SilverMember2025-07-012025-09-300001286973usas:MrEricSprottMember2024-12-190001286973usas:MrEricSprottMember2019-10-012019-10-030001286973usas:MrEricSprottMember2024-12-012024-12-190001286973usas:DeferredShareUnitsMemberifrs-full:TopOfRangeMember2024-01-012024-12-310001286973usas:DeferredShareUnitsMember2024-01-012024-12-310001286973usas:StockIssuedPrivatePlacementsMember2024-03-270001286973usas:StockIssuedPrivatePlacementsMember2025-09-300001286973usas:StockIssuedPrivatePlacementsMember2024-01-012024-12-310001286973usas:StockIssuedPrivatePlacementsMember2024-12-190001286973usas:StockIssuedPrivatePlacementsMember2024-12-012024-12-190001286973usas:StockIssuedPrivatePlacementsMember2025-01-012025-09-300001286973usas:DeferredShareUnitsMember2025-09-300001286973ifrs-full:RestrictedShareUnitsMember2024-01-012024-12-310001286973ifrs-full:RestrictedShareUnitsMember2024-12-310001286973usas:DeferredShareUnitsMember2024-12-310001286973ifrs-full:RestrictedShareUnitsMember2025-09-3000012869732024-03-012024-03-270001286973usas:GalenaComplexMember2024-12-190001286973usas:GalenaComplexMember2024-12-012024-12-1900012869732025-08-012025-08-1900012869732025-08-190001286973usas:WarrantsFiveMember2025-01-012025-09-300001286973usas:WarrantsFourMember2025-01-012025-09-300001286973usas:WarrantsThreeMember2025-01-012025-09-300001286973usas:WarrantsTwoMember2025-01-012025-09-300001286973usas:WarrantsOneMember2025-01-012025-09-300001286973usas:WarrantsTwoMember2025-09-300001286973usas:WarrantsFiveMember2025-09-300001286973usas:WarrantsFourMember2025-09-300001286973usas:WarrantsThreeMember2025-09-300001286973usas:WarrantsOneMember2025-09-300001286973ifrs-full:TopOfRangeMember2025-01-012025-09-300001286973ifrs-full:BottomOfRangeMember2025-01-012025-09-300001286973usas:RangeFourMemberifrs-full:BottomOfRangeMember2025-01-012025-09-300001286973usas:RangeThreeMemberifrs-full:TopOfRangeMember2025-01-012025-09-300001286973ifrs-full:BottomOfRangeMemberusas:RangeThreeMember2025-01-012025-09-300001286973usas:RangeTwoMemberifrs-full:BottomOfRangeMember2025-01-012025-09-300001286973ifrs-full:TopOfRangeMemberusas:RangeTwoMember2025-01-012025-09-300001286973ifrs-full:TopOfRangeMemberusas:RangeOneMember2025-01-012025-09-300001286973usas:RangeOneMemberifrs-full:BottomOfRangeMember2025-01-012025-09-300001286973usas:RangeFourMember2025-01-012025-09-300001286973usas:RangeThreeMember2025-01-012025-09-300001286973usas:RangeTwoMember2025-01-012025-09-300001286973usas:RangeOneMember2025-01-012025-09-300001286973usas:StockShareOptionsPlanMember2025-09-300001286973usas:StockShareOptionsPlanMember2025-01-012025-09-300001286973usas:StockShareOptionsPlanMember2024-01-012024-12-310001286973usas:StockShareOptionsPlanMember2024-12-310001286973usas:StockShareOptionsPlanMember2023-12-310001286973usas:GalenaComplexAndCosalaOperationsMember2023-04-012023-04-1200012869732025-06-012025-06-240001286973usas:TwoAdditionalTranchesMember2025-06-012025-06-240001286973usas:ThreeTranchesMember2025-06-012025-06-240001286973usas:TrafiguraPTELtdMember2024-08-012024-08-1400012869732022-12-012022-12-1200012869732025-06-3000012869732022-12-120001286973usas:RoyCapConvertibleDebentureMember2021-04-012021-04-2800012869732024-01-012024-12-3100012869732025-01-310001286973usas:SilverAgreementMember2024-12-190001286973usas:SilverAgreementMember2024-12-012024-12-190001286973usas:SilverAgreementMember2025-09-300001286973usas:SilverAgreementMember2025-01-012025-09-300001286973usas:SilverAgreementMember2024-12-310001286973usas:SandstormGoldLtdMemberusas:ForwardCommodityPricingCurvesMember2024-12-012024-12-1900012869732019-04-030001286973usas:MetalAgreementMember2025-09-300001286973usas:MetalAgreementMember2025-01-012025-09-300001286973usas:MetalAgreementMember2024-01-012024-12-310001286973usas:MetalAgreementMember2024-12-310001286973usas:MetalAgreementMember2023-12-310001286973usas:RightofUseAssetsMember2025-09-300001286973usas:RightofUseAssetsMember2024-12-310001286973usas:PlantAndEquipmentMember2025-09-300001286973usas:PlantAndEquipmentMember2024-12-310001286973usas:MineralInterestsMember2025-09-300001286973usas:MineralInterestsMember2024-12-310001286973usas:CorporateOfficeEquipmentMember2024-12-310001286973usas:CorporateOfficeEquipmentMember2025-09-300001286973usas:RightofuseLeaseAssetsMember2024-12-310001286973usas:RightofuseLeaseAssetsMember2025-09-300001286973ifrs-full:OtherPropertyPlantAndEquipmentMember2024-12-310001286973ifrs-full:OtherPropertyPlantAndEquipmentMember2025-09-300001286973usas:NonproducingPropertiesMember2024-12-310001286973usas:NonproducingPropertiesMember2025-09-300001286973usas:MiningInterestMember2024-12-310001286973usas:MiningInterestMember2025-09-300001286973usas:NonproducingPropertiesMemberusas:AccumulatedDepreciationAndDepletionMember2025-09-300001286973usas:NonproducingPropertiesMemberusas:AccumulatedDepreciationAndDepletionMember2025-01-012025-09-300001286973usas:NonproducingPropertiesMemberusas:AccumulatedDepreciationAndDepletionMember2024-12-310001286973usas:NonproducingPropertiesMemberusas:AccumulatedDepreciationAndDepletionMember2023-12-310001286973usas:AccumulatedDepreciationAndDepletionMember2024-12-310001286973usas:AccumulatedDepreciationAndDepletionMember2025-09-300001286973usas:AccumulatedDepreciationAndDepletionMember2024-01-012024-12-310001286973usas:AccumulatedDepreciationAndDepletionMember2025-01-012025-09-300001286973usas:AccumulatedDepreciationAndDepletionMember2023-12-310001286973usas:CorporateOfficeEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2024-12-310001286973usas:CorporateOfficeEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2025-09-300001286973usas:CorporateOfficeEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2024-01-012024-12-310001286973usas:CorporateOfficeEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2025-01-012025-09-300001286973usas:CorporateOfficeEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2023-12-310001286973usas:RightofuseLeaseAssetsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2024-12-310001286973usas:RightofuseLeaseAssetsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2025-09-300001286973usas:RightofuseLeaseAssetsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2024-01-012024-12-310001286973usas:RightofuseLeaseAssetsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2025-01-012025-09-300001286973usas:RightofuseLeaseAssetsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2023-12-310001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2024-12-310001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2025-09-300001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2024-01-012024-12-310001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2025-01-012025-09-300001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:AccumulatedDepreciationAndDepletionMember2023-12-310001286973usas:MiningInterestMemberusas:AccumulatedDepreciationAndDepletionMember2024-12-310001286973usas:MiningInterestMemberusas:AccumulatedDepreciationAndDepletionMember2025-09-300001286973usas:MiningInterestMemberusas:AccumulatedDepreciationAndDepletionMember2024-01-012024-12-310001286973usas:MiningInterestMemberusas:AccumulatedDepreciationAndDepletionMember2025-01-012025-09-300001286973usas:MiningInterestMemberusas:AccumulatedDepreciationAndDepletionMember2023-12-310001286973usas:CostMember2025-09-300001286973usas:CostMember2024-12-310001286973usas:CostMember2024-01-012024-12-310001286973usas:CostMember2025-01-012025-09-300001286973usas:CostMember2023-12-310001286973usas:CorporateOfficeEquipmentMemberusas:CostMember2025-09-300001286973usas:CorporateOfficeEquipmentMemberusas:CostMember2025-01-012025-09-300001286973usas:CorporateOfficeEquipmentMemberusas:CostMember2024-01-012024-12-310001286973usas:CorporateOfficeEquipmentMemberusas:CostMember2024-12-310001286973usas:RightofuseLeaseAssetsMemberusas:CostMember2025-09-300001286973usas:RightofuseLeaseAssetsMemberusas:CostMember2024-12-310001286973usas:RightofuseLeaseAssetsMemberusas:CostMember2024-01-012024-12-310001286973usas:RightofuseLeaseAssetsMemberusas:CostMember2025-01-012025-09-300001286973usas:RightofuseLeaseAssetsMemberusas:CostMember2023-12-310001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:CostMember2025-09-300001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:CostMember2024-12-310001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:CostMember2024-01-012024-12-310001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:CostMember2025-01-012025-09-300001286973ifrs-full:OtherPropertyPlantAndEquipmentMemberusas:CostMember2023-12-310001286973usas:NonproducingPropertiesMemberusas:CostMember2025-09-300001286973usas:NonproducingPropertiesMemberusas:CostMember2025-01-012025-09-300001286973usas:NonproducingPropertiesMemberusas:CostMember2024-01-012024-12-310001286973usas:NonproducingPropertiesMemberusas:CostMember2024-12-310001286973usas:MiningInterestMemberusas:CostMember2025-09-300001286973usas:MiningInterestMemberusas:CostMember2024-12-310001286973usas:MiningInterestMemberusas:CostMember2024-01-012024-12-310001286973usas:MiningInterestMemberusas:CostMember2025-01-012025-09-300001286973usas:MiningInterestMemberusas:CostMember2023-12-310001286973usas:NoncontrollingInterestMember2025-09-300001286973usas:AttributableToShareholdersOfTheCompanyMember2025-09-300001286973ifrs-full:RetainedEarningsMember2025-09-300001286973usas:ForeignCurrencyTranslationReserveMember2025-09-300001286973usas:EquityReserveMember2025-09-300001286973usas:CommonStockMember2025-09-300001286973usas:NoncontrollingInterestMember2025-01-012025-09-300001286973usas:AttributableToShareholdersOfTheCompanyMember2025-01-012025-09-300001286973ifrs-full:RetainedEarningsMember2025-01-012025-09-300001286973usas:ForeignCurrencyTranslationReserveMember2025-01-012025-09-300001286973usas:EquityReserveMember2025-01-012025-09-300001286973usas:CommonStockMember2025-01-012025-09-300001286973usas:NoncontrollingInterestMember2024-12-310001286973usas:AttributableToShareholdersOfTheCompanyMember2024-12-310001286973ifrs-full:RetainedEarningsMember2024-12-310001286973usas:ForeignCurrencyTranslationReserveMember2024-12-310001286973usas:EquityReserveMember2024-12-310001286973usas:CommonStockMember2024-12-3100012869732024-09-300001286973usas:NoncontrollingInterestMember2024-09-300001286973usas:AttributableToShareholdersOfTheCompanyMember2024-09-300001286973ifrs-full:RetainedEarningsMember2024-09-300001286973usas:ForeignCurrencyTranslationReserveMember2024-09-300001286973usas:EquityReserveMember2024-09-300001286973usas:CommonStockMember2024-09-300001286973usas:NoncontrollingInterestMember2024-01-012024-09-300001286973usas:AttributableToShareholdersOfTheCompanyMember2024-01-012024-09-300001286973ifrs-full:RetainedEarningsMember2024-01-012024-09-300001286973usas:ForeignCurrencyTranslationReserveMember2024-01-012024-09-300001286973usas:EquityReserveMember2024-01-012024-09-300001286973usas:CommonStockMember2024-01-012024-09-3000012869732023-12-310001286973usas:NoncontrollingInterestMember2023-12-310001286973usas:AttributableToShareholdersOfTheCompanyMember2023-12-310001286973ifrs-full:RetainedEarningsMember2023-12-310001286973usas:ForeignCurrencyTranslationReserveMember2023-12-310001286973usas:EquityReserveMember2023-12-310001286973usas:CommonStockMember2023-12-3100012869732024-01-012024-09-3000012869732024-07-012024-09-3000012869732025-07-012025-09-3000012869732025-09-3000012869732024-12-31iso4217:USDxbrli:sharesiso4217:USDxbrli:sharesiso4217:CADiso4217:CADxbrli:sharesxbrli:pureiso4217:MXN
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K/A
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2026
Commission File Number: 001-37982
AMERICAS GOLD AND SILVER CORPORATION |
(Translation of registrant’s name into English) |
145 King Street West, Suite 2870
Toronto, Ontario, Canada
M5H 1J8
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
EXPLANATORY NOTE
We are amending our Report of Foreign Private Issuer on Form 6-K originally furnished to the U.S. Securities and Exchange Commission on November 10, 2025 (the “Original Filing”), for the purpose of (i) including as exhibits the condensed interim consolidated financial statements and the XBRL Data Files for such condensed interim consolidated financial statements. The XBRL Data Files should be read in conjunction with the condensed interim consolidated financial statements included in the Form 6-K furnished on November 10, 2025, and included again in this amendment (the “Amendment”) as Exhibit 99.1 and (ii) to correct an inadvertent typographical error on page 21 of the condensed interim consolidated financial statements included in the Form 6-K furnished on November 10, 2025, and included again in this amendment (the “Amendment”) as Exhibit 99.1.
Other than as expressly set forth above, this Amendment does not, and does not purport to, amend, update or restate the information in any other item of the Form 6-K, or reflect any events that have occurred after the time of the Form 6-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AMERICAS GOLD AND SILVER CORPORATION | |
| | |
| (Registrant) | |
| | |
Date: January 16, 2026 | By: | /s/ Peter McRae | |
| | Peter McRae | |
| | | |
| Title: | Chief Legal Officer and Senior Vice President Corporate Affairs | |
INDEX TO EXHIBITS
Exhibits
* Previously Filed
