Jeffrey Stephen Rossetti's questions to Americas Gold & Silver (USAS) leadership • Q4 2019
Question
Jeffrey Stephen Rossetti asked for a detailed overview of the development plan for the Galena Complex over the next two years, including the capital required. He also sought clarification on how much of the Sprott investment was in the current cash balance and when the company guided for positive cash flow.
Answer
President, CEO & Director Darren John Blasutti outlined the ~$25 million Recapitalization Plan funded by Eric Sprott, targeting increased production faces, equipment reliability, and resource expansion, with a goal of reaching ~2.2 million ounces of silver production in 2021. CFO Warren Varga clarified that approximately $13.8 million of the investment remained in the cash balance as of year-end. Mr. Blasutti hinted at achieving positive cash flow around the end of the recap plan on March 31, 2021.