Business
First Majestic Produces 2.9M Oz Silver and 23,873 Oz Gold (4.5M Silver Eqv. Oz) in the First Quarter of 2021
Vancouver, British Columbia--(Newsfile Corp. - April 14, 2021) - First Majestic Silver Corp. (...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"First Majestic Produces 2.9M Oz Silver and 23,873 Oz Gold (4.5M Silver Eqv. Oz) in the First Quarter of 2021Vancouver, British Columbia--(Newsfile Corp. - April 14, 2021) - First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (\"First Majestic\" or the \"Company\") announces that total production in the first quarter of 2021 from the Company's three producing operations in Mexico, the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine, reached 4.5 million silver equivalent ounces consisting of 2.9 million ounces of silver and 23,873 ounces of gold. The Company's financial results for the first quarter of 2021 are scheduled to be released on Thursday, May 6, 2021. FIRST QUARTER HIGHLIGHTSTotal production: The Company produced 4.5 million silver equivalent ounces consisting of 2.9 million ounces of silver and 23,873 ounces of gold, representing a decrease of 16% and 9%, respectively, compared to the Company's record setting production in the previous quarter. LNG power starts on-schedule: The Liquid Natural Gas (\"LNG\") facility at Santa Elena successfully completed all commissioning activities during the quarter. At quarter end, the LNG power plant was supplying approximately 85% of power requirements to the Santa Elena operation.Ermitaño activities advance: Underground development activities at the Ermitaño project near Santa Elena advanced another 1,453 metres during the quarter. The Company plans to start test stope mining in June and expects to extract between 50,000 to 60,000 tonnes of material over the next six months. On surface, initial construction activities commenced for the access road which will connect the Santa Elena processing plant to the Ermitaño portal area.Strong underground production at Santa Elena: Underground ore production and plant throughput rates at Santa Elena increased throughout the quarter and in the month of March exceeded budgeted levels for the first time in over a year. The strong production was achieved following multiple improvement initiatives enacted at the mine over the last nine months. In the month of March, underground mining produced 55,266 tonnes of ore, or approximately 1,783 tonnes per day, accounting for 41% of Santa Elena's total underground production in the entire quarter. 19 drill rigs active: The Company complet...