Business
First Majestic Silver Reports First Quarter Financial Results
VANCOUVER, British Columbia, May 09, 2019 (GLOBE NEWSWIRE) -- FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or “First Majestic”) is pleased to
About this update from First Majestic Silver Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 09, 2019 (GLOBE NEWSWIRE) -- FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the \"Company\" or “First Majestic”) is pleased to announce the unaudited interim consolidated financial results of the Company for the first quarter ended March 31, 2019. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise. FIRST QUARTER 2019 HIGHLIGHTS Silver equivalent production of 6.3 million ounces, down 3% compared to Q4 2018 Pure silver production of 3.3 million ounces, up 2% compared to Q4 2018 Revenues for the quarter was $86.8 million, up 17% compared to Q4 2018 Mine operating earnings of $10.3 million, up 214% compared to Q4 2018 Cash flow per share was $0.12 per share (non-GAAP) Cash costs were $6.34 per payable silver ounce (net of by-product credits) All-in sustaining costs (“AISC”) were $12.91 per payable silver ounce Net earnings of $2.9 million (EPS share of $0.01) Realized average silver price of $15.73 per ounce Strong balance sheet with $91.5 million in cash and cash equivalents “In the first quarter, higher silver production along with improved silver prices generated increased revenues, earnings and cash flows compared to the prior quarter,” stated Keith Neumeyer, President and CEO of First Majestic. “Strong gold production from our San Dimas and Santa Elena mines helped to record better than expected consolidated cash costs and AISC per ounce. Costs are expected to continue to trend lower in the second half of 2019 due to higher production levels at various operations including the commercialization of several cost saving projects which are expected to further increase margins and profitability. We continue to prudently manage the business in a very challenging silver price environment by balancing capital investments with expected cash flows and ensuring we maximize returns on invested capital.” OPERATIONAL AND FINANCIAL HIGHLIGHTS Key Performance Metrics 2019-Q1 2018-Q4 Change Q1 vs Q4 2018-Q1 Change Q1 vs Q1 Operational Ore Processed / Tonnes Milled 812,654 &...