First Majestic Produces a New Quarterly Record of 3.27 Million Silver Eqv. Ounces

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[{"type":"text","content":"\n\n\nTSX - FR\nNYSE - AGFrankfurt - FMV (WKN: A0LHKJ)\n\n\nVANCOUVER, July 10, 2013 /CNW/ - First Majestic Silver Corp. (\"First\n Majestic\" or the \"Company\") is pleased to announce that total\n production at its five operating silver mines in Mexico for the second\n quarter ending June 30, 2013, reached a new quarterly record of\n 3,268,117 equivalent ounces of silver, representing a 55% increase\n compared to the same quarter in 2012.\n\n\nTotal silver production for the quarter consisted of 2,767,966 ounces of\n silver, representing an increase of 44% compared to the same quarter in\n 2012. In addition, 5,946,539 pounds of lead and 2,898,093 pounds of\n zinc were produced representing an increase of 98% and 104%,\n respectively, compared to the same quarter of the previous year. Also,\n 1,995 ounces of gold were produced, representing an increase of 274%\n compared to the second quarter of 2012.\n\n\nKeith Neumeyer, President & CEO of First Majestic, states, \"The second\n quarter was somewhat bitter-sweet as total production achieved a new\n quarterly record of over three million ounces for the first time in the\n Company's history while at the same time unfortunately experiencing one\n of the most dramatic and violent drops in the price of silver. This low\n silver price environment is creating a challenging environment for many\n higher-cost primary producers.  Our management team has responded\n quickly to the situation by implementing prudent cash management\n practices and disciplined cost reduction measures to ensure that First\n Majestic's profitability and future growth plans remain intact. \"\n\n\nProduction Details Table:\n\n\nConsolidated Production Results\n\n\nQuarter Ended June 30, 2013\n\n\nQuarter Ended June 30, 2012\n\n\n% Variance Prior Quarter\n\n\nOre processed/tonnes milled\n\n\n668,398\n\n\n615,799\n\n\n9%\n\n\nTotal production - ounces of silver equivalent\n\n\n3,268,117\n\n\n2,102,222\n\n\n55%\n\n\nTotal silver ounces produced\n\n\n2,767,966\n\n\n1,917,248\n\n\n44%\n\n\nSilver Grade (g/t)\n\n\n201\n\n\n164\n\n\n22%\n\n\nSilver Recovery (%)\n\n\n64%\n\n\n59%\n\n\n9%\n\n\nPounds of lead produced\n\n\n5,946,539\n\n\n3,005,209\n\n\n98%\n\n\nEquivalent ounces from lead\n\n\n246,166\n\n\n91,669\n\n\n169%\n\n\nPounds of zinc produced\n\n\n2,898,093\n\n\n1,423,890\n\n\n104%\n\n\nEquivalent ounces...

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