First Majestic: 1Q Output Declines But In Line With Guidance
First Majestic Silver Corp. (TSX: FR; NYSE: AG; FRANKFURT: FMV; BVM: AG) reports first-quarter silver-equivalent production of 4.3 million ounces, in line with guidance although down from 5.1 million in the same period a year ago. Total production in the January-March period consisted of 2.7 million ounces of silver, 15,095 ounces of gold, 7.5 million pounds of lead and 0.9 million pounds of zinc, the company says. "During the first quarter, total production from our six producing mines met our quarterly guidance expectations," says Keith Neumeyer, president and chief executive officer. "With the renewed investment in underground development and brownfields exploration, we continue to execute on our long-term growth plan to have additional production levels prepared in order to increase throughput rates and head grades at Del Toro, La Parrilla and La Encantada. Our 2017 silver production guidance of 11.1 (to) 12.4 million ounces, or 16.6 (to) 18.5 million silver equivalent ounces, remains unchanged."