{"success":true,"data":{"pressRelease":{"id":"120258","rtpr_id":"nNFC9JWGY9","ticker":"MAI","exchange":"TSX","all_tickers":["MAI"],"title":"Mining Americas Reports Q2 2026 Financial and Operating Results","author":"Newsfile Corp","published_at":"2026-08-17T10:56:02.723Z","article_body":"Toronto, Ontario--(Newsfile Corp. - August 17, 2026) - Mining Americas\nInc. (TSX: MAI) (OTCQX: MAIFF) (\"Mining Americas\" or the \"Company\") is\npleased to announce unaudited financial and operating results for the three\nand six months ended June 30, 2026 (\"second quarter\" or \"Q2 2026\"). Results\nare presented in U.S. dollars unless otherwise stated. For details of the\nconsolidated Financial Statements and Management's Discussion and Analysis,\nplease see the Company's filings at www.miningamericas.gold or on SEDAR+ at\nwww.sedarplus.ca.\n\nSecond Quarter 2026 Highlights\n*\nQuarterly revenue of $32.6 million, earnings from mine operations of $13.2\nmillion, adjusted net income of $6.5 million (or $0.06 per share), and\nadjusted EBITDA(1) of $9.3 million.\n*\nEnded Q2 2026 with cash and cash equivalents of $43.5 million and working\ncapital of $106.3 million. Total available liquidity of $73.5 million\nincluding $30 million undrawn on the Company's revolving credit facility.\n*\nQ2 2026 gold production of 8,217 ounces, gold sales of 8,329 ounces at average\nrealized price of $3,920 per ounce(2). Year-to-date (\"YTD\") gold production\nwas 16,951 ounces and sales were 17,463 ounces.\n*\nCash costs(1) of $1,831 per ounce (\"/oz\") gold sold and all-in sustaining\ncosts(1) (\"AISC\") of $2,054/oz gold sold. YTD cash costs and AISC were\n$1,740/oz gold sold and $1,930/oz gold sold, respectively.\n*\nOn track to achieve 2026 guidance at the Pan mine: gold production of\n32,000-38,000 ounces, cash costs of $1,750-1,900 per ounce, and AISC of\n$1,850-2,000 per ounce.\n*\nDuring the quarter the Pan mine ramped up mined tonnage from 51,800 tonnes per\nday at the start of the year to a June average of over 70,000 tonnes per day\non track to achieve nearly 100,000 tonnes per day in the second half of the\nyear.\n\n(1) Refer to the \"Non-IFRS Measures\" in this release and associated MD&A for a\ndescription of these measures.\n(2) The average realized gold price in Q2 2026 was impacted by settling 1,500\nounces of the Company's outstanding call options with Auramet at an average\nselling price of $2,096 per ounce.\n\nMining Americas CEO, Darren Blasutti, commented, \"The Pan mine delivered\nanother solid quarter of gold production. At the midpoint of the year, we are\ncomfortably positioned approximately halfway through our annual production\nguidance of 32,000-38,000 ounces, below our guided cash cost range, and at the\nmidpoint of guided AISC range. Quarterly earnings from mine operations $13.2\nmillion and adjusted net income of $6.5 million ($0.06 per share) were\ngenerated despite the lower average realized gold price caused by settling\ngold call options priced at $2,096 per ounce. The Company's gold production is\nnow completely exposed to current higher trending gold prices and given the\nprogressive ramp up in mining rates successfully achieved at Pan in Q2 2026,\nwe look forward to higher production rates and correspondingly lower cash\ncosts and AISC later this year. With total available liquidity of $73 million\nand no debt payments until 2029, Mining Americas is in a strong financial\nposition to advance our pipeline of high-quality, low-capital growth projects.\n\nWe would also like to congratulate our Pan mine operating team for winning the\nNevada Mining Association's Operator Safety Award for 2025 - an award the Pan\nmine has now won seven out of the past ten years.\"\n\nQ2 2026 Results Conference Call and Webcast\n\nThe Company's management team will host a conference call and webcast today at\n11:00 AM Eastern Time to discuss the quarterly results and project activities,\nfollowed by a question-and-answer session.\n\nDial-In Numbers / Webcast:\n\nDate: Monday, August 17, 2026\nTime: 11:00 AM Eastern Time\n\nNorth American callers please dial: +1-800-715-9871\nInternational callers please dial: +1-647-932-3411\n\nWebcast: https://www.gowebcasting.com/14771\n\nRecent Highlights\n*\nOn May 11, 2026, the Company announced a series of Board and Management\nchanges to support the Company's strategy of becoming a leading, U.S. focused\nintermediate gold producer.\n*\nOn May 19, 2025, the Company announced its intention to exercise its option to\nrepurchase a 0.75% net smelter return royalty on the Cerro de Oro project from\nAuramet Capital Partners, L.P. (\"Auramet\") for $4.5 million. The Company\nentered into an agreement with Auramet to satisfy the purchase price through\nthe issuance of 895,572 common shares at C$6.91 per share. The repurchase was\ncompleted on May 22, 2026, upon issuance of the shares.\n*\nOn May 26, 2026, the Company closed a $75 million revolving credit facility\n(\"RCF\") with The Bank of Nova Scotia and National Bank of Canada, as\npreviously disclosed in its March 31, 2026 news release. The Company made an\ninitial $45 million drawdown under the RCF, primarily to repay existing debt\nand commitments with Auramet, including the 7,830-ounce gold-prepayment\nfacility and the remaining 3,000 ounces of forward-gold sales priced at\napproximately $2,100 per ounce.\n*\nOn May 27, 2026, the Company announced the results of a pre-feasibility study\n(the \"PFS\") on its 100%-owned, past-producing Copperstone project\n(\"Copperstone\" or the \"Project\") located in La Paz County, Arizona, USA.\n*\nOn June 15, 2026, the Company announced it had received conditional approval\nto graduate to the Toronto Stock Exchange (\"TSX\"). The conditions were\nsubsequently satisfied, and the Company's shares began trading on the TSX on\nFriday July 3, 2026.\n*\nOn June 25, 2026, the Company's shareholders and the TSX Venture Exchange\n(\"TSXV\") approved the Company's name change to \"Mining Americas Inc.\".\n\nCopperstone Project Update\n\nCopperstone project engineering work continued in Q2 2026 as restart plans for\nthe underground mine advanced. On May 27, 2026, the Company announced the\nresults of a pre-feasibility study (\"PFS\") on the underground Copperstone\nproject, with a concurrent positive construction decision by the Company's\nboard of directors. During Q2 2026 and recently, project activities at\nCopperstone include:\n*\nFinalizing detailed engineering for construction and new equipment purchases;\n*\nCoordinating with the mining contractor to plan workforce and equipment\nmobilization, early mine rehabilitation and development;\n*\nCreating a west portal laydown area for equipment and consumables staging;\n*\nRenovation of office administration buildings and construction of workforce\naccommodations;\n*\nTransportation of existing mill equipment to nearby facilities for cleaning,\ninspection, and rehabilitation;\n*\nDemolition and modification of one side of the existing process plant to\nprepare for new equipment and process layout;\n*\nPurchase and delivery of new surface and process plant equipment to site;\n*\nTesting and commissioning of the existing assay lab on site.\n\n(https://images.newsfilecorp.com/files/4183/309835_694d2fa0e428ab16_003full.jpg)\n\nFigure 1. Historic ball mill being removed from the process plant\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/4183/309835_694d2fa0e428ab16_003full.jpg\n\nThe Company initiated an exploration drilling program in Q2 2026 and\nanticipates the completion of the drilling during the second half of 2026. The\nCompany is examining the potential for a near-surface open-pit resource for\nthe Copperstone project. There was a history of open pit gold production when\nthe Copperstone deposit was initially developed in the 1980s.\n\n2026 Outlook\n\nThe Company's strategy is to become a leading, U.S. focused intermediate gold\nproducer by growing production at its Pan Operating Complex and developing its\npipeline of high-quality, low-capital projects while expanding gold resources\nacross its portfolio. For 2026, the Company has the following goals pursuant\nto its strategy:\n*\nAs of January 1, 2026, the Company changed its reporting currency from the\nCanadian dollar to the US dollar.\n*\nReleased the results of the Copperstone project PFS in May 2026, followed by a\nconstruction decision and project construction throughout 2026\n*\nGraduated from the TSX Venture Exchange to the Toronto Stock Exchange in Q2\n2026\n*\nStarted the Company's inaugural drilling program at the Copperstone project\ntesting near-surface, open pit gold mineralization in Q2 2026\n*\nAchieving 2026 guidance at the Pan mine - gold production of 32,000-38,000\nounces, total cash costs of $1,750-1,900 per ounce, and AISC of $1,850-2,000\nper ounce\n*\nThrough the first half of 2026, the Pan mine has produced 16,951 ounces at\ntotal cash costs of $1,740/oz and AISC of $1,930/oz gold sold.\n*\nReleasing a maiden open pit mineral resource estimate at the Copperstone\nproject in the second half of 2026\n*\nReleasing an updated technical report on the Gold Rock project in Q4 2026\n\nQ1 2026 Financial Highlights\n\n Three months ended Six months ended \n June 30, June 30, June 30, June 30, \n in $ thousands USD except per share amounts 2026 2025 2026 2025 \n \n Revenue 32,648 2,278 71,840 4,698 \n \n Cost of Sales \n Production costs 16,675 2,510 33,319 4,307 \n Royalty and production taxes 1,708 0 3,554 0 \n Depreciation and amortization 1,072 53 2,310 114 \n Total Cost of Sales 19,455 2,563 39,183 4,421 \n \n Earnings from mine operations 13,193 (285 ) 32,657 277 \n \n Expenses, Taxes and Other Items \n General and administrative (1,551 ) (899 ) (2,744 ) (1,956 ) \n Exploration (6,530 ) (858 ) (8,376 ) (22,804 ) \n Share-based compensation (1,569 ) (18 ) (2,700 ) (968 ) \n Foreign exchange gain 286 1,360 423 2,637 \n Other expenses (28 ) (10 ) (54 ) (534 ) \n Finance expense (17,694 ) (875 ) (18,979 ) (1,231 ) \n Change in fair value of investments (101 ) - 40 - \n Current and deferred income tax expense (1,729 ) - (5,130 ) - \n Net loss (15,723 ) (1,585 ) (4,863 ) (24,579 ) \n Loss per share - basic and diluted (0.14 ) (0.02 ) (0.04 ) (0.44 ) \n \n Adjusting for: \n Cerro de Oro royalty buy-back 4,500 \n Gold loan loss on repayment 10,556 \n Call option settlement in gold ozs 7,121 \n Subt non-recurring items 22,177 \n \n Adjusted net income 6,454 \n Adjusted net income per share (diluted) 0.06 \n\n \n\nIn Q2 2026, the Company sold 8,329 ounces of gold, at an average realized\nprice of $3,920 per ounce, for revenue of $32.6 million compared to 898 ounces\nof gold sold at an average realized price of $3,503 per ounce for revenue of\n$2.3 million in the Q2 2025 period. The increase in revenue is a direct result\nof gold production and sales from the Pan mine in Q2 2026.\n\nCost of sales for Q2 2026 was $19.5 million compared to $2.6 million in the\nprior year comparable period. This increase reflects the inclusion of the Pan\nproduction and operating costs during the Q2 2026 period and the reduction in\nthe Santana operation during the year while it awaited the expansion approvals\nin Mexico. During the second quarter, Pan produced 8,137 ounces and produced\n80 ounces from carbon re-stripping, with 1,540 ounces remaining in inventory\non June 30, 2026. These ounces were recognized in revenue in July 2026.\n\nTotal cash costs and AISC for Q2 2026 are $1,831 and $2,054 per ounce sold,\nrespectively.\n\nGeneral and administrative expenses in Q2 2026 were $1.6 million compared to\n$0.9 million in the comparable prior-year period. The increase partly reflects\nprofessional fees incurred to complete the new revolving credit facility,\nwhich closed on May 26, 2026. In addition, general and administrative fees\nwere higher than in the second quarter of 2025 driven by the addition of the\nPan operation, and additions to the Company's senior and executive management\nteams.\n\nExploration expenses in Q2 2026 were $6.5 million which includes the $4.5\nmillion non-cash impact of a royalty repurchase at the Cerro de Oro project,\npaid for in shares, but also reflecting ongoing costs at the Copperstone\nproject and holding and operating costs at the Company's non-operating\nsubsidiaries. The comparative exploration expense in Q2 2025 was $0.9 million,\nreflecting holding costs at the Company's non-operating subsidiaries.\n\nThe Company recorded share-based compensation expense of $1.6 million in Q2\n2026, compared to share-based compensation expense of $0.2 million reported in\nthe comparable prior-year period. This expense is modestly higher in the\ncurrent period mainly reflecting the timing of vesting between grants of stock\noptions and restricted share units (\"RSU's\") in the prior period.\n\nThe finance expense of $17.7 million in Q2 2026 includes the $9.6 million loss\non settlement of a gold loan at higher spot prices and the $7.1 million cost\nof buying gold ounces to settle a call option, combined with interest expense\nincurred on the new revolving credit facility in June. Prior-year comparable\nQ2 finance expense was $0.9 million.\n\nThe current tax expense of $3.6 million and deferred tax recovery of $1.7\nmillion reflect the Q2 2026 provision for taxable income at the Pan operation.\n\nAs a result of the above, the Company's operations during Q2 2026 resulted in\nnet loss of $15.7 million compared to a net loss of $1.6 million in the\ncomparable prior-year period. Adjusting for non-recurring expense items,\nadjusted net income was $6.5 million or $0.06 per share in Q2 2026.\n\nConsolidated Highlights\n\n Three months ended Six months ended \n Restated Restated \n June 30, June 30, June 30, June 30, \n in $ thousands USD except per share amounts 2026 2025 2026 2025 \n Financial Results \n Revenue (2) 32,648 2,278 71,840 4,698 \n Cost of sales, incl. royalties and depreciation and amortization 19,455 2,563 39,183 4,421 \n Earnings from mine operations 13,193 (285 ) 32,657 277 \n (Loss) income before income taxes (13,994 ) (1,585 ) 267 24,579 \n Net (loss) income (15,723 ) (1,585 ) (4,863 ) (24,579 ) \n Basic (loss) per share (0.144 ) (0.020 ) (0.044 ) (0.440 ) \n Cash flow from (used in) operating activities: \n Capital expenditures (sustaining) 2,616 5 3,351 116 \n Capital expenditures (growth) 2,615 - 6,695 - \n Operating Results \n Gold produced (oz) 8,217 898 16,951 1,912 \n Gold sold (oz) 8,329 898 17,463 1,912 \n Per Ounce Results \n Average realized price ($/oz sold) $ 3,920 $ 3,503 $ 4,114 $ 3,462 \n Operating cash costs per ounce sold (1)($/oz sold): \n Cash cost per ounce sold (1)($/oz sold) $ 1,831 - $ 1,740 - \n AISC per ounce sold (1)($/oz sold) $ 2,054 - $ 1,930 - \n (1) Non-IFRS measure, for further information refer to the Non-IFRS Measures section in this release. (2) Gold ounces sold include 80 ozs produced from restripped carbon from Santana, with associated revenues of $297 for the sales. \n\n \n\nCash Flow\n\n Six months ended Year ended \n in $ thousands USD June 30, 2026 December 31, 2025 \n \n Net Cash Provided Operating Activities 5,847 22,634 \n Net Cash Used in Investing Activities - 12,658 - 101,912 \n Net Cash Provided by Financing Activities 6,242 114,470 \n Effect of Exchange Rate Changes on Cash 58 185 \n Change in Cash and Cash Equivalents - 511 35,377 \n Cash and Cash Equivalents, Beginning of Period 43,962 8,585 \n Cash and Cash Equivalents, End of Period 43,451 43,962 \n\n \n\nJune 30, 2026, cash and cash equivalents balance of $43.5 million is used for\nongoing operations at the Pan mine, the ongoing work towards the project\ndevelopment/construction plan for the Copperstone project, and for ongoing\ncorporate costs.\n\nDuring the second quarter of 2026, the Company realized operating cash flow of\n$3.3 million, had investing outflows of $7.4 million and realized financing\ncash inflows of $2.0 million, resulting in a use of $2.1 million of cash\nduring Q2 2026. In late May, the Company drew $45 million against the new\nrevolving credit facility, which enabled the reduction of long-term debt and\nthe settlement of various other obligations as summarized in the\nreconciliation below.\n\n Cash and equivalents at April 1, 2026 $ 45,587 \n \n Operating Cashflow Pan mine 11,690 \n Working capital net outflow (8,474 ) \n Investing outflows (7,370 ) \n Draw on Revolving Credit Facility 45,000 \n Settlement of gold call options (7,121 ) \n Repayment of gold loan (35,861 ) \n \n Cash and equivalents at June 30, 2026 $ 43,451 \n\n \n\nPan Mine Operating Summary\n\n Three months ended Six months ended \n June 30, June 30, \n Mining 2026 2026 \n Ore Mined (t) 1,492,346 2,678,595 \n Waste Mined (t) 3,920,590 6,691,369 \n Total Mined (t) 5,412,936 9,369,964 \n Grade (g/t Au) 0.257 0.264 \n Gold Mined (oz) 12,315 22,747 \n\n \n\nMining operations at the Pan mine during Q2 2026 averaged over 58,800 tonnes\nper day, with total material moved of 5.4 million tonnes. Material moved\nincluded 1.5 million ore tonnes at a grade of 0.257 g/t, with 1.5 million\ntonnes placed on the heap leach pad, containing 12,438 ounces of gold.\nOperations during the first six months of 2026 averaged over 51,700 tonnes per\nday, with total material moved of 9.4 million tonnes. Material moved included\n2.7 million tonnes placed on the heap leach pad, containing 23,126 ounces of\ngold. Over the first half of 2026, the mining rates at Pan have steadily\nincreased, reflecting the productivity and efficiency of the mining contractor\nthat was appointed in January of 2026.\n\n Three months ended Six months ended \n June 30, June 30, \n Processing 2026 2026 \n Ore Placed on Leach Pad (t) 1,509,508 2,691,087 \n Grade (g/t Au) 0.256 0.267 \n Contained Gold (oz) 12,438 23,126 \n Gold produced (oz) 8,137 16,871 \n Gold sold (oz) 8,249 17,383 \n\n \n\nDuring Q2 2026, 8,137 ounces of gold were produced by the Pan mine at total\ncash costs and AISC of $1,831 per ounce sold and $2,054 per ounce sold,\nrespectively, with 8,249 ounces sold, and 1,540 ounces of gold in finished\ngoods inventory. During the first six months of 2026, the Pan mine produced\n16,871 ounces of gold at total cash costs and AISC of $1,740 per ounce sold\nand $1,930 per ounce sold, respectively, with 17,383 ounces sold in the\nperiod.\n\nThe Pan mine recently achieved exemplary safety milestones. The operation won\nthe 2025 Nevada Mining Association's Operator Safety Award for small mines,\nhaving also previously won the award in 2016-2020 and in 2024. The Pan mine\nhas not had a medical treatment injury since 2023 and recently surpassed 5\nyears with no lost time injuries.\n\nNon-IFRS Measures\n\nThis news release refers to certain financial measures, such as\nall-in-sustaining costs, which are not measures recognized under IFRS and do\nnot have a standardized meaning prescribed by IFRS. These measures may differ\nfrom those made by other companies and, accordingly, may not be comparable to\nsuch measures as reported by other companies. These measures have been derived\nfrom the Company's financial statements because the Company believes that they\nare of assistance in understanding the results of operations and its financial\nposition. Certain additional disclosures for these specified financial\nmeasures have been incorporated by reference and can be found in the Company's\nMD&A for Q4 2025, available on SEDAR+.\n\nTotal cash costs. The Company uses total cash costs per gold ounce sold to\nmonitor its operating performance internally. The most directly comparable\nmeasure prepared in accordance with IFRS is cost of sales. The Company\nbelieves this measure provides investors and analysts with useful information\nabout its underlying total cash costs of operations. The Company also believes\nit is a relevant metric used to understand its operating profitability and\nability to generate cash flow. Total cash costs are measures developed by\nmetals companies in an effort to provide a comparable standard; however, there\ncan be no assurance that the Company's reporting of these non-GAAP financial\nmeasures are similar to those reported by other mining companies. They are\nwidely reported in the metals mining industry as a benchmark for performance,\nbut do not have a standardized meaning and are disclosed in addition to IFRS\nmeasures. Total cash costs include production costs, refinery and\ntransportation costs, royalties and production taxes. Total cash costs exclude\nnon-cash depreciation and depletion and site share-based compensation.\nProduction costs include mining, crushing, processing, and direct overhead at\nthe operation sites.\n\nAISC. AISC more fully defines the total costs associated with producing\nprecious metals. The AISC is calculated based on guidelines published by the\nWorld Gold Council (WGC), which were first issued in 2013. In light of new\naccounting standards and to support further consistency of application, the\nWGC published an updated Guidance Note in 2018. Other companies may calculate\nthis measure differently because of differences in underlying principles and\npolicies applied. Differences may also arise due to a different definition of\nsustaining versus growth capital. Note that in respect of AISC metrics within\nthe technical reports, because such economics are disclosed at the project\nlevel, corporate general and administrative expenses were not included in the\nAISC calculations. AISC per ounce includes mining, processing, direct\noverhead, reclamation and sustaining capital.\n\nEBITDA. EBITDA is defined as earnings from continuing operations before net\nfinancial expenses (income), income taxes, depreciation, depletion and\namortization. As such, this financial measure allows comparability of\noperating results from one period to another by excluding the effects of items\nthat are usually associated with investing and financing activities.\n\nQualified Person\n\nThe scientific and technical information contained in this news release has\nbeen reviewed and approved by Mr. Darren Koningen, P.Eng., the Company's\nPresident & COO, who is the Qualified Person under National Instrument 43-101.\n\nAbout Mining Americas\n\nMining Americas Inc. (formerly Minera Alamos Inc.) is a growing North American\ngold production and development company with projects in Nevada, Arizona, and\nMexico. The Company owns the Pan Operating Complex in White Pine County,\nNevada, comprised of the producing Pan mine and the adjacent permitted Gold\nRock project.\n\nThe Company also owns the Copperstone project in La Paz County, Arizona, a\npermitted, advanced underground gold project. The Company maintains a\nportfolio of high-quality Mexican assets, including the Cerro de Oro project,\nan open pit heap leach gold development project in northern Zacatecas.\n\nThe Company's strategy is to become a leading, U.S.-focused intermediate gold\nproducer by growing production at its Pan Operating Complex and developing its\npipeline of high-quality, low-capital projects while expanding gold resources\nacross its portfolio.\n\nFor Further Information Please Contact:\n\nDarren Blasutti, CEO\n416-306-0990 ext 208\ndblasutti@miningamericas.gold\n\nDavid Stewart, VP Corporate Development & Capital Markets\n+1-647-294-8361\ndstewart@miningamericas.gold\nWebsite: www.miningamericas.gold\n\nCaution Regarding Forward-Looking Statements\n\nThis press release includes certain \"forward-looking information\" within the\nmeaning of applicable Canadian securities legislation. All information herein,\nother than information of historical fact, constitutes forward-looking\ninformation. Forward-looking information is frequently, but not always,\nidentified by words such as \"expects\", \"anticipates\", \"believes\", \"intends\",\n\"estimates\", \"potential\", \"possible\", and similar expressions, or statements\nthat events, conditions, or results \"will\", \"may\", \"could\", or \"should\" occur\nor be achieved. Forward-looking statements contained in this press release\ninclude statements regarding: the items set out in the Company's 2026 Outlook,\nproduction and cost guidance for 2026, project studies and development\nmilestones at the Copperstone project, Gold Rock project, and Cerro de Oro\nproject. This information is based on information currently available to the\nCompany and the Company provides no assurance that actual results will meet\nmanagement's expectations.\n\nThe forward-looking information is based on assumptions and addresses future\nevents and conditions that, by their very nature involve inherent risks and\nuncertainties. Actual results could differ materially from those currently\nanticipated in forward-looking information for many reasons. The Company's\nfinancial condition and prospects could differ materially from those currently\nanticipated in forward-looking information for many reasons such as: an\ninability to receive requisite permits for mine operation, exploration or\nexpansion; an inability to finance and/or complete updated resource and\nreserve estimates and technical reports which support the technical and\neconomic viability of mineral production; changes in general economic\nconditions and conditions in the financial markets; changes in demand and\nprices for minerals; litigation, legislative, environmental and other\njudicial, regulatory, political and competitive developments; technological\nand operational difficulties encountered in connection with the Company's\nactivities; and other matters discussed in this press release and in filings\nmade with securities regulators. This list is not exhaustive of the factors\nthat may affect any of the Company's forward-looking information. These and\nother factors should be considered carefully, and readers should not place\nundue reliance on the Company's forward-looking information. The Company does\nnot undertake to update any forward-looking information that may be made from\ntime to time by the Company or on its behalf, except in accordance with\napplicable securities laws.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/309835","article_body_html":"","raw_payload":{"data":{"id":"nNFC9JWGY9","title":"Mining Americas Reports Q2 2026 Financial and Operating Results","author":"Newsfile Corp","ticker":"MAI","created":"2026-08-17T10:56:02.723Z","tickers":["MAI"],"exchange":"TSX","article_body":"Toronto, Ontario--(Newsfile Corp. - August 17, 2026) - Mining Americas\nInc. (TSX: MAI) (OTCQX: MAIFF) (\"Mining Americas\" or the \"Company\") is\npleased to announce unaudited financial and operating results for the three\nand six months ended June 30, 2026 (\"second quarter\" or \"Q2 2026\"). Results\nare presented in U.S. dollars unless otherwise stated. For details of the\nconsolidated Financial Statements and Management's Discussion and Analysis,\nplease see the Company's filings at www.miningamericas.gold or on SEDAR+ at\nwww.sedarplus.ca.\n\nSecond Quarter 2026 Highlights\n*\nQuarterly revenue of $32.6 million, earnings from mine operations of $13.2\nmillion, adjusted net income of $6.5 million (or $0.06 per share), and\nadjusted EBITDA(1) of $9.3 million.\n*\nEnded Q2 2026 with cash and cash equivalents of $43.5 million and working\ncapital of $106.3 million. Total available liquidity of $73.5 million\nincluding $30 million undrawn on the Company's revolving credit facility.\n*\nQ2 2026 gold production of 8,217 ounces, gold sales of 8,329 ounces at average\nrealized price of $3,920 per ounce(2). Year-to-date (\"YTD\") gold production\nwas 16,951 ounces and sales were 17,463 ounces.\n*\nCash costs(1) of $1,831 per ounce (\"/oz\") gold sold and all-in sustaining\ncosts(1) (\"AISC\") of $2,054/oz gold sold. YTD cash costs and AISC were\n$1,740/oz gold sold and $1,930/oz gold sold, respectively.\n*\nOn track to achieve 2026 guidance at the Pan mine: gold production of\n32,000-38,000 ounces, cash costs of $1,750-1,900 per ounce, and AISC of\n$1,850-2,000 per ounce.\n*\nDuring the quarter the Pan mine ramped up mined tonnage from 51,800 tonnes per\nday at the start of the year to a June average of over 70,000 tonnes per day\non track to achieve nearly 100,000 tonnes per day in the second half of the\nyear.\n\n(1) Refer to the \"Non-IFRS Measures\" in this release and associated MD&A for a\ndescription of these measures.\n(2) The average realized gold price in Q2 2026 was impacted by settling 1,500\nounces of the Company's outstanding call options with Auramet at an average\nselling price of $2,096 per ounce.\n\nMining Americas CEO, Darren Blasutti, commented, \"The Pan mine delivered\nanother solid quarter of gold production. At the midpoint of the year, we are\ncomfortably positioned approximately halfway through our annual production\nguidance of 32,000-38,000 ounces, below our guided cash cost range, and at the\nmidpoint of guided AISC range. Quarterly earnings from mine operations $13.2\nmillion and adjusted net income of $6.5 million ($0.06 per share) were\ngenerated despite the lower average realized gold price caused by settling\ngold call options priced at $2,096 per ounce. The Company's gold production is\nnow completely exposed to current higher trending gold prices and given the\nprogressive ramp up in mining rates successfully achieved at Pan in Q2 2026,\nwe look forward to higher production rates and correspondingly lower cash\ncosts and AISC later this year. With total available liquidity of $73 million\nand no debt payments until 2029, Mining Americas is in a strong financial\nposition to advance our pipeline of high-quality, low-capital growth projects.\n\nWe would also like to congratulate our Pan mine operating team for winning the\nNevada Mining Association's Operator Safety Award for 2025 - an award the Pan\nmine has now won seven out of the past ten years.\"\n\nQ2 2026 Results Conference Call and Webcast\n\nThe Company's management team will host a conference call and webcast today at\n11:00 AM Eastern Time to discuss the quarterly results and project activities,\nfollowed by a question-and-answer session.\n\nDial-In Numbers / Webcast:\n\nDate: Monday, August 17, 2026\nTime: 11:00 AM Eastern Time\n\nNorth American callers please dial: +1-800-715-9871\nInternational callers please dial: +1-647-932-3411\n\nWebcast: https://www.gowebcasting.com/14771\n\nRecent Highlights\n*\nOn May 11, 2026, the Company announced a series of Board and Management\nchanges to support the Company's strategy of becoming a leading, U.S. focused\nintermediate gold producer.\n*\nOn May 19, 2025, the Company announced its intention to exercise its option to\nrepurchase a 0.75% net smelter return royalty on the Cerro de Oro project from\nAuramet Capital Partners, L.P. (\"Auramet\") for $4.5 million. The Company\nentered into an agreement with Auramet to satisfy the purchase price through\nthe issuance of 895,572 common shares at C$6.91 per share. The repurchase was\ncompleted on May 22, 2026, upon issuance of the shares.\n*\nOn May 26, 2026, the Company closed a $75 million revolving credit facility\n(\"RCF\") with The Bank of Nova Scotia and National Bank of Canada, as\npreviously disclosed in its March 31, 2026 news release. The Company made an\ninitial $45 million drawdown under the RCF, primarily to repay existing debt\nand commitments with Auramet, including the 7,830-ounce gold-prepayment\nfacility and the remaining 3,000 ounces of forward-gold sales priced at\napproximately $2,100 per ounce.\n*\nOn May 27, 2026, the Company announced the results of a pre-feasibility study\n(the \"PFS\") on its 100%-owned, past-producing Copperstone project\n(\"Copperstone\" or the \"Project\") located in La Paz County, Arizona, USA.\n*\nOn June 15, 2026, the Company announced it had received conditional approval\nto graduate to the Toronto Stock Exchange (\"TSX\"). The conditions were\nsubsequently satisfied, and the Company's shares began trading on the TSX on\nFriday July 3, 2026.\n*\nOn June 25, 2026, the Company's shareholders and the TSX Venture Exchange\n(\"TSXV\") approved the Company's name change to \"Mining Americas Inc.\".\n\nCopperstone Project Update\n\nCopperstone project engineering work continued in Q2 2026 as restart plans for\nthe underground mine advanced. On May 27, 2026, the Company announced the\nresults of a pre-feasibility study (\"PFS\") on the underground Copperstone\nproject, with a concurrent positive construction decision by the Company's\nboard of directors. During Q2 2026 and recently, project activities at\nCopperstone include:\n*\nFinalizing detailed engineering for construction and new equipment purchases;\n*\nCoordinating with the mining contractor to plan workforce and equipment\nmobilization, early mine rehabilitation and development;\n*\nCreating a west portal laydown area for equipment and consumables staging;\n*\nRenovation of office administration buildings and construction of workforce\naccommodations;\n*\nTransportation of existing mill equipment to nearby facilities for cleaning,\ninspection, and rehabilitation;\n*\nDemolition and modification of one side of the existing process plant to\nprepare for new equipment and process layout;\n*\nPurchase and delivery of new surface and process plant equipment to site;\n*\nTesting and commissioning of the existing assay lab on site.\n\n(https://images.newsfilecorp.com/files/4183/309835_694d2fa0e428ab16_003full.jpg)\n\nFigure 1. Historic ball mill being removed from the process plant\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/4183/309835_694d2fa0e428ab16_003full.jpg\n\nThe Company initiated an exploration drilling program in Q2 2026 and\nanticipates the completion of the drilling during the second half of 2026. The\nCompany is examining the potential for a near-surface open-pit resource for\nthe Copperstone project. There was a history of open pit gold production when\nthe Copperstone deposit was initially developed in the 1980s.\n\n2026 Outlook\n\nThe Company's strategy is to become a leading, U.S. focused intermediate gold\nproducer by growing production at its Pan Operating Complex and developing its\npipeline of high-quality, low-capital projects while expanding gold resources\nacross its portfolio. For 2026, the Company has the following goals pursuant\nto its strategy:\n*\nAs of January 1, 2026, the Company changed its reporting currency from the\nCanadian dollar to the US dollar.\n*\nReleased the results of the Copperstone project PFS in May 2026, followed by a\nconstruction decision and project construction throughout 2026\n*\nGraduated from the TSX Venture Exchange to the Toronto Stock Exchange in Q2\n2026\n*\nStarted the Company's inaugural drilling program at the Copperstone project\ntesting near-surface, open pit gold mineralization in Q2 2026\n*\nAchieving 2026 guidance at the Pan mine - gold production of 32,000-38,000\nounces, total cash costs of $1,750-1,900 per ounce, and AISC of $1,850-2,000\nper ounce\n*\nThrough the first half of 2026, the Pan mine has produced 16,951 ounces at\ntotal cash costs of $1,740/oz and AISC of $1,930/oz gold sold.\n*\nReleasing a maiden open pit mineral resource estimate at the Copperstone\nproject in the second half of 2026\n*\nReleasing an updated technical report on the Gold Rock project in Q4 2026\n\nQ1 2026 Financial Highlights\n\n Three months ended Six months ended \n June 30, June 30, June 30, June 30, \n in $ thousands USD except per share amounts 2026 2025 2026 2025 \n \n Revenue 32,648 2,278 71,840 4,698 \n \n Cost of Sales \n Production costs 16,675 2,510 33,319 4,307 \n Royalty and production taxes 1,708 0 3,554 0 \n Depreciation and amortization 1,072 53 2,310 114 \n Total Cost of Sales 19,455 2,563 39,183 4,421 \n \n Earnings from mine operations 13,193 (285 ) 32,657 277 \n \n Expenses, Taxes and Other Items \n General and administrative (1,551 ) (899 ) (2,744 ) (1,956 ) \n Exploration (6,530 ) (858 ) (8,376 ) (22,804 ) \n Share-based compensation (1,569 ) (18 ) (2,700 ) (968 ) \n Foreign exchange gain 286 1,360 423 2,637 \n Other expenses (28 ) (10 ) (54 ) (534 ) \n Finance expense (17,694 ) (875 ) (18,979 ) (1,231 ) \n Change in fair value of investments (101 ) - 40 - \n Current and deferred income tax expense (1,729 ) - (5,130 ) - \n Net loss (15,723 ) (1,585 ) (4,863 ) (24,579 ) \n Loss per share - basic and diluted (0.14 ) (0.02 ) (0.04 ) (0.44 ) \n \n Adjusting for: \n Cerro de Oro royalty buy-back 4,500 \n Gold loan loss on repayment 10,556 \n Call option settlement in gold ozs 7,121 \n Subt non-recurring items 22,177 \n \n Adjusted net income 6,454 \n Adjusted net income per share (diluted) 0.06 \n\n \n\nIn Q2 2026, the Company sold 8,329 ounces of gold, at an average realized\nprice of $3,920 per ounce, for revenue of $32.6 million compared to 898 ounces\nof gold sold at an average realized price of $3,503 per ounce for revenue of\n$2.3 million in the Q2 2025 period. The increase in revenue is a direct result\nof gold production and sales from the Pan mine in Q2 2026.\n\nCost of sales for Q2 2026 was $19.5 million compared to $2.6 million in the\nprior year comparable period. This increase reflects the inclusion of the Pan\nproduction and operating costs during the Q2 2026 period and the reduction in\nthe Santana operation during the year while it awaited the expansion approvals\nin Mexico. During the second quarter, Pan produced 8,137 ounces and produced\n80 ounces from carbon re-stripping, with 1,540 ounces remaining in inventory\non June 30, 2026. These ounces were recognized in revenue in July 2026.\n\nTotal cash costs and AISC for Q2 2026 are $1,831 and $2,054 per ounce sold,\nrespectively.\n\nGeneral and administrative expenses in Q2 2026 were $1.6 million compared to\n$0.9 million in the comparable prior-year period. The increase partly reflects\nprofessional fees incurred to complete the new revolving credit facility,\nwhich closed on May 26, 2026. In addition, general and administrative fees\nwere higher than in the second quarter of 2025 driven by the addition of the\nPan operation, and additions to the Company's senior and executive management\nteams.\n\nExploration expenses in Q2 2026 were $6.5 million which includes the $4.5\nmillion non-cash impact of a royalty repurchase at the Cerro de Oro project,\npaid for in shares, but also reflecting ongoing costs at the Copperstone\nproject and holding and operating costs at the Company's non-operating\nsubsidiaries. The comparative exploration expense in Q2 2025 was $0.9 million,\nreflecting holding costs at the Company's non-operating subsidiaries.\n\nThe Company recorded share-based compensation expense of $1.6 million in Q2\n2026, compared to share-based compensation expense of $0.2 million reported in\nthe comparable prior-year period. This expense is modestly higher in the\ncurrent period mainly reflecting the timing of vesting between grants of stock\noptions and restricted share units (\"RSU's\") in the prior period.\n\nThe finance expense of $17.7 million in Q2 2026 includes the $9.6 million loss\non settlement of a gold loan at higher spot prices and the $7.1 million cost\nof buying gold ounces to settle a call option, combined with interest expense\nincurred on the new revolving credit facility in June. Prior-year comparable\nQ2 finance expense was $0.9 million.\n\nThe current tax expense of $3.6 million and deferred tax recovery of $1.7\nmillion reflect the Q2 2026 provision for taxable income at the Pan operation.\n\nAs a result of the above, the Company's operations during Q2 2026 resulted in\nnet loss of $15.7 million compared to a net loss of $1.6 million in the\ncomparable prior-year period. Adjusting for non-recurring expense items,\nadjusted net income was $6.5 million or $0.06 per share in Q2 2026.\n\nConsolidated Highlights\n\n Three months ended Six months ended \n Restated Restated \n June 30, June 30, June 30, June 30, \n in $ thousands USD except per share amounts 2026 2025 2026 2025 \n Financial Results \n Revenue (2) 32,648 2,278 71,840 4,698 \n Cost of sales, incl. royalties and depreciation and amortization 19,455 2,563 39,183 4,421 \n Earnings from mine operations 13,193 (285 ) 32,657 277 \n (Loss) income before income taxes (13,994 ) (1,585 ) 267 24,579 \n Net (loss) income (15,723 ) (1,585 ) (4,863 ) (24,579 ) \n Basic (loss) per share (0.144 ) (0.020 ) (0.044 ) (0.440 ) \n Cash flow from (used in) operating activities: \n Capital expenditures (sustaining) 2,616 5 3,351 116 \n Capital expenditures (growth) 2,615 - 6,695 - \n Operating Results \n Gold produced (oz) 8,217 898 16,951 1,912 \n Gold sold (oz) 8,329 898 17,463 1,912 \n Per Ounce Results \n Average realized price ($/oz sold) $ 3,920 $ 3,503 $ 4,114 $ 3,462 \n Operating cash costs per ounce sold (1)($/oz sold): \n Cash cost per ounce sold (1)($/oz sold) $ 1,831 - $ 1,740 - \n AISC per ounce sold (1)($/oz sold) $ 2,054 - $ 1,930 - \n (1) Non-IFRS measure, for further information refer to the Non-IFRS Measures section in this release. (2) Gold ounces sold include 80 ozs produced from restripped carbon from Santana, with associated revenues of $297 for the sales. \n\n \n\nCash Flow\n\n Six months ended Year ended \n in $ thousands USD June 30, 2026 December 31, 2025 \n \n Net Cash Provided Operating Activities 5,847 22,634 \n Net Cash Used in Investing Activities - 12,658 - 101,912 \n Net Cash Provided by Financing Activities 6,242 114,470 \n Effect of Exchange Rate Changes on Cash 58 185 \n Change in Cash and Cash Equivalents - 511 35,377 \n Cash and Cash Equivalents, Beginning of Period 43,962 8,585 \n Cash and Cash Equivalents, End of Period 43,451 43,962 \n\n \n\nJune 30, 2026, cash and cash equivalents balance of $43.5 million is used for\nongoing operations at the Pan mine, the ongoing work towards the project\ndevelopment/construction plan for the Copperstone project, and for ongoing\ncorporate costs.\n\nDuring the second quarter of 2026, the Company realized operating cash flow of\n$3.3 million, had investing outflows of $7.4 million and realized financing\ncash inflows of $2.0 million, resulting in a use of $2.1 million of cash\nduring Q2 2026. In late May, the Company drew $45 million against the new\nrevolving credit facility, which enabled the reduction of long-term debt and\nthe settlement of various other obligations as summarized in the\nreconciliation below.\n\n Cash and equivalents at April 1, 2026 $ 45,587 \n \n Operating Cashflow Pan mine 11,690 \n Working capital net outflow (8,474 ) \n Investing outflows (7,370 ) \n Draw on Revolving Credit Facility 45,000 \n Settlement of gold call options (7,121 ) \n Repayment of gold loan (35,861 ) \n \n Cash and equivalents at June 30, 2026 $ 43,451 \n\n \n\nPan Mine Operating Summary\n\n Three months ended Six months ended \n June 30, June 30, \n Mining 2026 2026 \n Ore Mined (t) 1,492,346 2,678,595 \n Waste Mined (t) 3,920,590 6,691,369 \n Total Mined (t) 5,412,936 9,369,964 \n Grade (g/t Au) 0.257 0.264 \n Gold Mined (oz) 12,315 22,747 \n\n \n\nMining operations at the Pan mine during Q2 2026 averaged over 58,800 tonnes\nper day, with total material moved of 5.4 million tonnes. Material moved\nincluded 1.5 million ore tonnes at a grade of 0.257 g/t, with 1.5 million\ntonnes placed on the heap leach pad, containing 12,438 ounces of gold.\nOperations during the first six months of 2026 averaged over 51,700 tonnes per\nday, with total material moved of 9.4 million tonnes. Material moved included\n2.7 million tonnes placed on the heap leach pad, containing 23,126 ounces of\ngold. Over the first half of 2026, the mining rates at Pan have steadily\nincreased, reflecting the productivity and efficiency of the mining contractor\nthat was appointed in January of 2026.\n\n Three months ended Six months ended \n June 30, June 30, \n Processing 2026 2026 \n Ore Placed on Leach Pad (t) 1,509,508 2,691,087 \n Grade (g/t Au) 0.256 0.267 \n Contained Gold (oz) 12,438 23,126 \n Gold produced (oz) 8,137 16,871 \n Gold sold (oz) 8,249 17,383 \n\n \n\nDuring Q2 2026, 8,137 ounces of gold were produced by the Pan mine at total\ncash costs and AISC of $1,831 per ounce sold and $2,054 per ounce sold,\nrespectively, with 8,249 ounces sold, and 1,540 ounces of gold in finished\ngoods inventory. During the first six months of 2026, the Pan mine produced\n16,871 ounces of gold at total cash costs and AISC of $1,740 per ounce sold\nand $1,930 per ounce sold, respectively, with 17,383 ounces sold in the\nperiod.\n\nThe Pan mine recently achieved exemplary safety milestones. The operation won\nthe 2025 Nevada Mining Association's Operator Safety Award for small mines,\nhaving also previously won the award in 2016-2020 and in 2024. The Pan mine\nhas not had a medical treatment injury since 2023 and recently surpassed 5\nyears with no lost time injuries.\n\nNon-IFRS Measures\n\nThis news release refers to certain financial measures, such as\nall-in-sustaining costs, which are not measures recognized under IFRS and do\nnot have a standardized meaning prescribed by IFRS. These measures may differ\nfrom those made by other companies and, accordingly, may not be comparable to\nsuch measures as reported by other companies. These measures have been derived\nfrom the Company's financial statements because the Company believes that they\nare of assistance in understanding the results of operations and its financial\nposition. Certain additional disclosures for these specified financial\nmeasures have been incorporated by reference and can be found in the Company's\nMD&A for Q4 2025, available on SEDAR+.\n\nTotal cash costs. The Company uses total cash costs per gold ounce sold to\nmonitor its operating performance internally. The most directly comparable\nmeasure prepared in accordance with IFRS is cost of sales. The Company\nbelieves this measure provides investors and analysts with useful information\nabout its underlying total cash costs of operations. The Company also believes\nit is a relevant metric used to understand its operating profitability and\nability to generate cash flow. Total cash costs are measures developed by\nmetals companies in an effort to provide a comparable standard; however, there\ncan be no assurance that the Company's reporting of these non-GAAP financial\nmeasures are similar to those reported by other mining companies. They are\nwidely reported in the metals mining industry as a benchmark for performance,\nbut do not have a standardized meaning and are disclosed in addition to IFRS\nmeasures. Total cash costs include production costs, refinery and\ntransportation costs, royalties and production taxes. Total cash costs exclude\nnon-cash depreciation and depletion and site share-based compensation.\nProduction costs include mining, crushing, processing, and direct overhead at\nthe operation sites.\n\nAISC. AISC more fully defines the total costs associated with producing\nprecious metals. The AISC is calculated based on guidelines published by the\nWorld Gold Council (WGC), which were first issued in 2013. In light of new\naccounting standards and to support further consistency of application, the\nWGC published an updated Guidance Note in 2018. Other companies may calculate\nthis measure differently because of differences in underlying principles and\npolicies applied. Differences may also arise due to a different definition of\nsustaining versus growth capital. Note that in respect of AISC metrics within\nthe technical reports, because such economics are disclosed at the project\nlevel, corporate general and administrative expenses were not included in the\nAISC calculations. AISC per ounce includes mining, processing, direct\noverhead, reclamation and sustaining capital.\n\nEBITDA. EBITDA is defined as earnings from continuing operations before net\nfinancial expenses (income), income taxes, depreciation, depletion and\namortization. As such, this financial measure allows comparability of\noperating results from one period to another by excluding the effects of items\nthat are usually associated with investing and financing activities.\n\nQualified Person\n\nThe scientific and technical information contained in this news release has\nbeen reviewed and approved by Mr. Darren Koningen, P.Eng., the Company's\nPresident & COO, who is the Qualified Person under National Instrument 43-101.\n\nAbout Mining Americas\n\nMining Americas Inc. (formerly Minera Alamos Inc.) is a growing North American\ngold production and development company with projects in Nevada, Arizona, and\nMexico. The Company owns the Pan Operating Complex in White Pine County,\nNevada, comprised of the producing Pan mine and the adjacent permitted Gold\nRock project.\n\nThe Company also owns the Copperstone project in La Paz County, Arizona, a\npermitted, advanced underground gold project. The Company maintains a\nportfolio of high-quality Mexican assets, including the Cerro de Oro project,\nan open pit heap leach gold development project in northern Zacatecas.\n\nThe Company's strategy is to become a leading, U.S.-focused intermediate gold\nproducer by growing production at its Pan Operating Complex and developing its\npipeline of high-quality, low-capital projects while expanding gold resources\nacross its portfolio.\n\nFor Further Information Please Contact:\n\nDarren Blasutti, CEO\n416-306-0990 ext 208\ndblasutti@miningamericas.gold\n\nDavid Stewart, VP Corporate Development & Capital Markets\n+1-647-294-8361\ndstewart@miningamericas.gold\nWebsite: www.miningamericas.gold\n\nCaution Regarding Forward-Looking Statements\n\nThis press release includes certain \"forward-looking information\" within the\nmeaning of applicable Canadian securities legislation. All information herein,\nother than information of historical fact, constitutes forward-looking\ninformation. Forward-looking information is frequently, but not always,\nidentified by words such as \"expects\", \"anticipates\", \"believes\", \"intends\",\n\"estimates\", \"potential\", \"possible\", and similar expressions, or statements\nthat events, conditions, or results \"will\", \"may\", \"could\", or \"should\" occur\nor be achieved. Forward-looking statements contained in this press release\ninclude statements regarding: the items set out in the Company's 2026 Outlook,\nproduction and cost guidance for 2026, project studies and development\nmilestones at the Copperstone project, Gold Rock project, and Cerro de Oro\nproject. This information is based on information currently available to the\nCompany and the Company provides no assurance that actual results will meet\nmanagement's expectations.\n\nThe forward-looking information is based on assumptions and addresses future\nevents and conditions that, by their very nature involve inherent risks and\nuncertainties. Actual results could differ materially from those currently\nanticipated in forward-looking information for many reasons. The Company's\nfinancial condition and prospects could differ materially from those currently\nanticipated in forward-looking information for many reasons such as: an\ninability to receive requisite permits for mine operation, exploration or\nexpansion; an inability to finance and/or complete updated resource and\nreserve estimates and technical reports which support the technical and\neconomic viability of mineral production; changes in general economic\nconditions and conditions in the financial markets; changes in demand and\nprices for minerals; litigation, legislative, environmental and other\njudicial, regulatory, political and competitive developments; technological\nand operational difficulties encountered in connection with the Company's\nactivities; and other matters discussed in this press release and in filings\nmade with securities regulators. This list is not exhaustive of the factors\nthat may affect any of the Company's forward-looking information. These and\nother factors should be considered carefully, and readers should not place\nundue reliance on the Company's forward-looking information. The Company does\nnot undertake to update any forward-looking information that may be made from\ntime to time by the Company or on its behalf, except in accordance with\napplicable securities laws.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/309835"},"type":"article","timestamp":"2026-08-17T10:56:02.795837382Z","server_sent_at_ms":1786964162795},"received_at":"2026-08-17T10:56:02.998Z","source_url":"https://www.newsfilecorp.com/release/309835"},"analysis":{"id":"109246","press_release_id":"120258","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":[],"eventType":"earnings","narrative":"Mining Americas reported Q2 2026 revenue of $32.6 million driven by gold sales of 8,329 ounces at an average realized price of $3,920 per ounce.\n\nAdjusted net income was $6.5 million, or $0.06 per share, with all-in sustaining costs of $2,054 per ounce, keeping the company on track to meet its full-year production guidance of 32,000 to 38,000 ounces.\n\nThe company ended the quarter with total liquidity of $73.5 million and continues to advance the Copperstone project following its recent graduation to the Toronto Stock Exchange.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Mining Americas maintains guidance with solid Q2 production and strong liquidity."},"keyFigures":{"revenue":32648000,"guidance":"2026 gold production 32,000-38,000 ounces, cash costs $1,750-$1,900 per ounce, AISC $1,850-$2,000 per ounce","customDimensions":{"liquidity":73500000,"aisc_per_oz":2054,"adjusted_eps":0.06,"gold_sales_oz":8329,"adjusted_ebitda":9300000,"cash_costs_per_oz":1831,"avg_realized_price":3920,"gold_production_oz":8217,"adjusted_net_income":6500000,"cash_and_equivalents":43500000,"earnings_from_mine_operations":13200000}},"quotedText":"The Pan mine delivered another solid quarter of gold production.","namedEntities":{"people":[{"name":"Darren Blasutti","role":"CEO"},{"name":"Darren Koningen","role":"President & COO"},{"name":"David Stewart","role":"VP Corporate Development & Capital Markets"}],"products":["Pan mine","Copperstone project","Gold Rock project","Cerro de Oro project"],"companies":[{"name":"Mining Americas Inc.","ticker":"MAI"},{"name":"Auramet","relationship":"partner/counterparty"},{"name":"The Bank of Nova Scotia","relationship":"lender"},{"name":"National Bank of Canada","relationship":"lender"}],"dollarAmounts":[{"amount":"$32.6 million","context":"Q2 2026 revenue"},{"amount":"$13.2 million","context":"earnings from mine operations"},{"amount":"$6.5 million","context":"adjusted net income"},{"amount":"$9.3 million","context":"adjusted EBITDA"},{"amount":"$43.5 million","context":"cash and cash equivalents"},{"amount":"$106.3 million","context":"working capital"},{"amount":"$73.5 million","context":"total available liquidity"},{"amount":"$3,920","context":"average realized gold price per ounce"},{"amount":"$4.5 million","context":"Cerro de Oro royalty buy-back cost"},{"amount":"$75 million","context":"revolving credit facility size"}]},"materialImpact":{"score":3,"reasoning":"Solid operational quarter with revenue growing to $32.6 million and adjusted net income of $6.5 million. The company is on track to meet full-year guidance and maintains strong liquidity of $73.5 million."},"tickerRelevance":{"others":[],"primary":"MAI"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":["guidance_update","operations_update"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"operational-update","sectorWeight":"materials"}},"event_type":"earnings","event_type_secondary":["guidance_update","operations_update"],"sentiment":"bullish","material_impact_score":3,"narrative":"Mining Americas reported Q2 2026 revenue of $32.6 million driven by gold sales of 8,329 ounces at an average realized price of $3,920 per ounce.\n\nAdjusted net income was $6.5 million, or $0.06 per share, with all-in sustaining costs of $2,054 per ounce, keeping the company on track to meet its full-year production guidance of 32,000 to 38,000 ounces.\n\nThe company ended the quarter with total liquidity of $73.5 million and continues to advance the Copperstone project following its recent graduation to the Toronto Stock Exchange.","key_figures":{"revenue":32648000,"guidance":"2026 gold production 32,000-38,000 ounces, cash costs $1,750-$1,900 per ounce, AISC $1,850-$2,000 per ounce","customDimensions":{"liquidity":73500000,"aisc_per_oz":2054,"adjusted_eps":0.06,"gold_sales_oz":8329,"adjusted_ebitda":9300000,"cash_costs_per_oz":1831,"avg_realized_price":3920,"gold_production_oz":8217,"adjusted_net_income":6500000,"cash_and_equivalents":43500000,"earnings_from_mine_operations":13200000}},"named_entities":{"people":[{"name":"Darren Blasutti","role":"CEO"},{"name":"Darren Koningen","role":"President & COO"},{"name":"David Stewart","role":"VP Corporate Development & Capital Markets"}],"products":["Pan mine","Copperstone project","Gold Rock project","Cerro de Oro project"],"companies":[{"name":"Mining Americas Inc.","ticker":"MAI"},{"name":"Auramet","relationship":"partner/counterparty"},{"name":"The Bank of Nova Scotia","relationship":"lender"},{"name":"National Bank of Canada","relationship":"lender"}],"dollarAmounts":[{"amount":"$32.6 million","context":"Q2 2026 revenue"},{"amount":"$13.2 million","context":"earnings from mine operations"},{"amount":"$6.5 million","context":"adjusted net income"},{"amount":"$9.3 million","context":"adjusted EBITDA"},{"amount":"$43.5 million","context":"cash and cash equivalents"},{"amount":"$106.3 million","context":"working capital"},{"amount":"$73.5 million","context":"total available liquidity"},{"amount":"$3,920","context":"average realized gold price per ounce"},{"amount":"$4.5 million","context":"Cerro de Oro royalty buy-back cost"},{"amount":"$75 million","context":"revolving credit facility size"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-17T10:57:18.104Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"small-cap","eventGravity":"operational-update","sectorWeight":"materials"}},"durationMs":75035,"modelName":"glm-4.7"}}