Business
First Majestic Silver Produces 5.7 Million AgEq Oz in Q4 2024 Consisting of 2.4 Million Silver Ounces and 39,506 Gold Ounces, and 21.7 Million AgEq Oz in 2024
Vancouver, British Columbia--(Newsfile Corp. - January 8, 2025) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic"
About this update from First Majestic Silver Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - January 8, 2025) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the \"Company\" or \"First Majestic\") announces that total production in the fourth quarter of 2024 from the Company's three producing underground mines in Mexico, the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, reached 5.7 million silver equivalent (\"AgEq\") ounces, consisting of 2.4 million silver ounces and 39,506 gold ounces. Total production for the full year of 2024 was 21.7 million AgEq ounces, aligned with the Company's revised 2024 guidance of 21.4 to 22.6 million AgEq ounces. Total production for 2024 consisted of 8.4 million silver ounces and 156,542 gold ounces. The Company's audited financial results for the fourth quarter of 2024 are scheduled to be released on Thursday, February 20, 2025. Q4 2024 HIGHLIGHTS Total Silver Equivalent Production Increased 4%: The Company produced 5.7 million AgEq ounces in Q4 2024 representing a 4% increase when compared to 5.5 million AgEq ounces produced in the previous quarter driven by a 20% increase in consolidated silver production with improvements across all three operating mines. Total Silver Production up 20%, Quarter-over-Quarter: The Company produced 2.4 million silver ounces in Q4 2024 representing a 20% increase when compared to 2.0 million silver ounces produced in the previous quarter. Silver production increased by 39% at La Encantada, 14% at San Dimas and 8% at Santa Elena due to focused operating improvements at each mine. Highest Quarterly Production Since Q2 2023 at La Encantada: The La Encantada silver mine produced 755,963 silver ounces in Q4 2024, its highest quarterly production since Q2 2023, as the operation returns to historical production rates following the recovery of water inventory levels. Continued Active Exploration Program: The Company completed a total of 49,183 metres (\"m\") of drilling across its mines in Mexico and its Jerritt Canyon Gold Mine in Nevada, U.S.A. during the fourth quarter. During the quarter, 28 drill rigs were active consisting of 12 rigs at San Dimas, 10 rigs at Santa Elena, three rigs at Jerritt Canyon and three rigs at La Encantada. Safety Performance: In Q4 2024, the consolidated year-to-date Total Reportable Incident Frequency Rate (\"TRIFR\") w...