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Re: News Releases - Tuesday, October 13, 2009
La Encantada Expansion Nearing Completion
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First Majestic Silver Corp. (the "Company") is pleased to announce that
the Company's new 3,500 tpd Cyanidation Plant at its La Encantada
Silver Mine in Coahuila, Mexico is in the final stages of construction
and the commissioning process commenced in last week of August.
The completion of this new world-class cyanidation plant will have a
significant impact on the Company's production growth going forward.
The first deliveries of silver precipitates are expected by mid
November. Full production, at an annualized rate of over 4 million
ounces of silver dor� bars is expected to be achieved by year end.
All major components of this new mill have either been constructed and
/ or installed with only some final wiring and piping required for
completion. Testing of the major components and equipment have been
ongoing for the past few weeks.
The mill input plan during the coming weeks is as follows: initial
production reaching 1000 tpd by the end of October, ramping up to 2000
tpd by the end of November, and full production at the rate of 3500 tpd
anticipated by the end of December.
The Company will hold the official inauguration on November 19, 2009.
Over 300 people are expected to attend the inaugural ceremonies,
including; state and federal government officials, business partners,
shareholders, analysts and brokers.
Keith Neumeyer, CEO & President stated; "As the completion of
construction draws near and the testing and commissioning process
continues, another major milestone for First Majestic is approaching.
This state of the art, large scale operation has been constructed
during a very difficult economic environment and under a very tight
timeline. Congratulations should go out to all our management, staff
and construction crew for their perseverance, resolve and commitment.
Our attention is now turning to the production and shipment of the
first precipitates for dor� production, and reaching the full operating
capacity of the plant."
Ramon Davila, COO commented, "This plant has been constructed using the
best design elements, and using state of the art equipment. When full
production rates for this plant have been reached, our achievements
will definitely be noticed in the mining and investment communities.
These are exciting times for First Majestic; particularly for our
construction crew, management and staff."
First Majestic is a producing silver company focused in Mexico and is
aggressively pursuing its business plan to become a senior silver
producer through the development of its existing assets and the pursuit
through acquisition of additional assets that contribute to achieving
its significant corporate growth objectives.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our
website at www.firstmajestic.com or call our toll free number
1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer,
President & CEO
This press release includes certain "Forward-Looking Statements" within
the meaning of section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of
historical fact, included herein, including without limitation,
statements regarding potential mineralization and reserves, exploration
results and future plans and objectives of First Majestic Silver Corp.
are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
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Copyright (c) 2009 FIRST MAJESTIC SILVER CORP. (TSXV-FR) All rights
reserved. For more information visit our website at
http://www.firstmajestic.com/ or send mailto:investor@firstmajestic.com
Message sent on Tue Oct 13, 2009 at 11:47:19 AM Pacific Time
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VanEck Vectors Global Alternative Energy ETF
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PRODUCTEUR |
CODE : FR.TO |
ISIN : CA32076R1029 |
CUSIP : 32076R1029 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
First Majestic est une société de production minière d'argent basée au Canada. First Majestic est productrice d'argent, d'or, de plomb et de zinc au Mexique, et détient divers projets d'exploration au Canada et au Mexique. Ses principaux projets en production sont LA PARRILLA SILVER MINE, LA ENCANTADA (FIRST MAJESTIC SILVER), SAN MARTIN et LA ENCANTADA SILVER MINE au Mexique et ses principaux projets en exploration sont REAL DE CATORCE, DEL TORO et CUITABOCA au Mexique et PITT ISLAND, PINCOURT, DOMPIERRE et DESJARDINS au Canada. First Majestic est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 465,4 millions (340,6 millions US$, 313,9 millions €). La valeur de son action a atteint son plus bas niveau récent le 02 novembre 2001 à 0,01 , et son plus haut niveau récent le 17 mai 2024 à 9,99 . First Majestic possède 47 442 200 actions en circulation. |