First Majestic becomes a Senior Silver Producer; Produces 10.64M Ounces of Silver in 2013; Projects 12.70M to 13.35M Ounces of Silver in 2014
VANCOUVER, Jan. 14, 2014 /CNW/ - First Majestic Silver Corp. ("First Majestic" or the "Company") is pleased to announce the Company's fourth quarter and full year 2013 production results.
Total production during 2013 reached a new record of 12,791,527 equivalent ounces of silver, representing a 41% increase over 2012 and in line with previous production guidance estimates. The equivalent silver production for 2013 consisted of 10,641,465 ounces of silver, 10,040 ounces of gold, 26,904,093 pounds of lead and 8,509,097 pounds of zinc. With annual production now exceeding 10 million ounces of pure silver, the Company joins the industry ranks as a "Senior Silver Producer" on its 10th year anniversary of being in business.
Total production in the fourth quarter also reached a new quarterly record of 3,421,161 equivalent ounces of silver consisting of 2,746,598 ounces of silver, 3,519 ounces of gold, 8,355,889 pounds of lead and 1,698,745 pounds of zinc.
Keith Neumeyer, President & CEO, states, "2013 has brought many challenges to miners around the world. The unexpected drop in metals prices required quick reactions to reduce investments and reduce costs. I think our team should be congratulated for the difficult choices that have been made. However, further efforts are still required to improve efficiencies, adopt new technologies and innovative methods of doing our business. In 2014, our focus will be to improve efficiencies through automation and training programs. With all these challenges behind us and new ones approaching, it is sometimes difficult to see all the positive things happening around us. But again, recognition to our dedicated team is warranted for another great year of growth in production. With the Del Toro and San Martin operations still being ramped up, 2014 is expected to bring another similar year of growth. Now that we have passed one of our most significant milestones set 10 years ago, to produce over 10 million ounces of silver, we are now setting our goal to reach 20 million ounces which we believe can be reached with our current assets. We are living in challenging times, but also very exciting times."
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