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New Record of 3.86 million Silver Eqv. Ounces Produced in Q2; Announces Spin-out of Non-Core Exploration Properties
TSX – FR NYSE – AG Frankfurt – FMV (WKN: A0LHKJ) VA...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"\n\nTSX – FRNYSE – AGFrankfurt – FMV (WKN: A0LHKJ)\n\n \n\n\nVANCOUVER, July 14, 2014 /CNW/ - First Majestic Silver Corp. (\"First Majestic\" or the \"Company\") is pleased to announce that total production at its five operating silver mines in Mexico for the second quarter ending June 30, 2014 reached a new quarterly record of 3,855,224 equivalent ounces of silver, representing an 18% increase compared to the same quarter in 2013.\n\nTotal silver production for the quarter consisted of 3,098,218 ounces of silver, representing an increase of 12% compared to the same quarter in 2013.  In addition, 9,131,149 pounds of lead and 2,637,967 pounds of zinc were produced, representing an increase of 54% and a decrease of 9%, respectively, compared to the same quarter of the previous year.  Also produced were 2,801 ounces of gold, representing an increase of 40% compared to the second quarter of 2013.\n\nKeith Neumeyer, President & CEO of First Majestic, states, \"Higher grades and recoveries in the second quarter propelled total silver production to over 3 million ounces, the highest production rate in the Company's history. This achievement was partially due to a 59% increase in silver production at San Martin, when compared to the prior quarter, due to higher milling rates following the completion of the recent plant expansion and an increase in silver grades.\" \n\nMr. Neumeyer continues, \"Our focus in the second half of 2014 will be to continue to seek and implement new technologies and process automations with the objective to further increase efficiencies and reduce costs.\"\n\n\n\n\n\n\nConsolidated Production Results\n\n\n\nQuarter Ended\n\n \n\nJune 30, 2014\n\n\nQuarter Ended\n\n \n\nJune 30, 2013\n\n\n% Change over\n\nPrior Year's \n\n\n\n\nQuarter\n\n\n\nOre processed/tonnes milled\n\n\n671,024\n\n\n668,398\n\n\n0%\n\n\n\nTotal production - ounces of silver equivalent\n\n\n3,855,224\n\n\n3,268,117\n\n\n18%\n\n\n\nTotal silver ounces produced\n\n\n3,098,218\n\n\n2,767,966\n\n\n12%\n\n\n\nSilver grade (g/t)\n\n\n212\n\n\n201\n\n\n6%\n\n\n\nSilver recovery (%)\n\n\n68\n\n\n64\n\n\n5%\n\n\n\nPounds of lead produced\n\n\n9,131,149\n\n\n5,946,539\n\n\n54%\n\n\n\nPounds of zinc produced\n\n\n2,637,967\n\n\n2,898,093\n\n\n-9%\n\n\n\nGold ounces produced\n\n\n2,801\n\n\n1,995\n\n\n40...