Agoracom: Small Cap Investment - First Majestic Silver Corp. - First Majestic Says Produced 6.2 Million Ounces in Q4 and Record 25.6 Million Ounces in 2019

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First Majestic Says Produced 6.2 Million Ounces in Q4 and Record 25.6 Million Ounces in 2019

posted on Jan 15, 2020 04:45PM

2020-01-15 04:19:05 PM ET (MT Newswires)

04:19 PM EST, 01/15/2020 (MT Newswires) -- First Majestic Silver Corp. (AG, FR.TO) gained 2% in regular Canada and United States on Wednesday, then after the close announced fourth quarter and full year 2019 production results. In addition, the company is expecting to release its 2020 production, cost and capital guidance, as well as host a conference call, on January 21, 2020. Fourth quarter and full year 2019 financial results are scheduled to be released on February 19, 2020.

Among 2019 highlights: Total production reached 25.6 million equivalent ounces of silver, representing a 15% increase over 2018 and at the top end of the 2019 guidance range of producing 24.4 to 26.0 million silver equivalent ounces. And silver production reached 13.2 million ounces, representing a 13% increase over 2018 and within the 2019 guidance range of producing 12.8 to 13.5 million ounces.

First Majestic said it achieved record consolidated average silver recoveries of 86%, the highest in the company's 17-year history; successfully commissioned the new 3,000 tpd high-intensity grinding mill at Santa Elena making it the only whole-ore, hard-rock mining application of this technology in all of Latin Americ; and commenced earthwork and ramp development activities at Santa Elena's Ermitano project in advance of initial production scheduled for early 2021.

It ended the year with a strong cash and cash equivalents balance of US$169.0 million.

Price: 14.43, Change: +0.29, Percent Change: +2.05

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