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Re: News Releases - Tuesday, October 06, 2009
Third Quarter Production Results
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First Majestic Silver Corp. ("First Majestic" or the "Company")
announces today that production in the third quarter ending September
30, 2009 reached 1,089,481 equivalent ounces of silver, representing a
14% increase over the previous quarter's production and a 30% increase
over the same quarter in 2008.
The equivalent silver production for the third quarter consisted of
935,996 ounces of silver, representing a 13% increase from the previous
quarter and 30% increase over the third quarter of the previous year,
1,690,354 pounds of lead, representing a 13% increase from the previous
quarter and an increase of 11% over the same quarter of the previous
year and 732 ounces of gold, representing a decrease of 2%, compared to
the previous quarter and an increase of 37% over the same quarter in
2008.
During the quarter the combined recoveries of silver at the three
operating silver mines in Mexico showed an increase from 64% to 66%.
The overall average silver head grade in the quarter for the three
mines increased to 205 g/t of silver, compared to the previous quarter
of 196 g/t of silver.
The ore processed during the quarter at the Company's three mines; the
La Encantada Silver Mine, the La Parrilla Silver Mine and the San
Martin Silver Mine increased to 215,459 tonnes, representing a 5%
increase over the previous quarter and an increase of 27% when compared
to the third quarter of 2008.
The Company's development programs resulted in 6,597 metres of
underground development globally over all mines, which represented an
increase of 34% when compared to the 4,919 metres of underground
development completed in the previous quarter. The diamond drill
programs underway are for the purpose of assisting in mining activities
only, and consisted of 498 meters of definition drilling in the quarter
compared to 363 metres of drilling in the previous quarter, all of
which was at the San Martin mine.
Keith Neumeyer, CEO & President stated; "our operations team deserves
to be congratulated for delivering a solid quarter. Even though our
focus continues to be on the completion of the large construction
project at La Encantada, this quarter's results are an excellent
accomplishment. It should be further noted, that even though
commissioning of our new 3500 tpd plant commenced in the third quarter,
no production in this quarter was attributed to this expansion as first
revenues won't be recognized until the fourth quarter".
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 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 6, 2009 at 9:53:05 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. |