First Majestic Produces 3.9M Silver Eqv. Oz in First Quarter
VANCOUVER, British Columbia, April 19, 2018 (GLOBE NEWSWIRE) -- First Majestic Silver Corp. ("First Majestic" or the "Company") (AG) (FR.TO) (FMV.F) announces total production in the first quarter of 2018 from its six operating silver mines reached 3.9 million equivalent ounces of silver. Total production consisted of 2.2 million ounces of silver, 15,887 ounces of gold, 4.4 million pounds of lead and 1.6 million pounds of zinc.
“Over the last two years, our renewed capital investment program has generated positive changes to the business,” said Keith Neumeyer, President & CEO. “We are projecting a 15% increase is silver production in 2018, however, most of this increase will be realized in the second half of the year as the new roaster at La Encantada ramps up to commercial production. Furthermore, with the recent increase in reserve grades, head grades at the mills are expected to improve resulting in higher production and lower costs as the year develops.”
Production Details Table:
| Q1 | Q1 | Y/Y | Q4 | Q/Q | |||
| 2018 | 2017 | Change | 2017 | Change | |||
| Ore processed/tonnes milled | 809,775 | 822,336 | -2 | % | 736,684 | 10 | % |
| Total production - ounces of silver equivalent | 3,879,678 | 4,270,715 | -9 | % | 4,065,337 | -5 | % |
| Total silver ounces produced | 2,167,030 | 2,708,978 | -20 | % | 2,337,463 | -7 | % |
| Silver grade (g/t) | 111 | 136 | -18 | % | 125 | -11 | % |
| Silver recovery (%) | 75 | 75 | 0 | % | 79 | -5 | % |
| Gold ounces produced | 15,887 | 15,095 | 5 | % | 17,344 | -8 | % |
| Pounds of lead produced | 4,448,378 | 7,453,972 | -40 | % | 4,271,970 | 4 | % |
| Pounds of zinc produced | 1,611,699 | 871,596 | 85 | % | 1,289,031 | 25 | % |
