First Majestic Silver Corp T.AG

Alternate Symbol(s): AG

Metals & Mining Silver

First Majestic Silver Corp. is a mining company. It is focused on silver and gold production in Mexico and the United States. It owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine, and a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, United States. It also owns and operates its own minting facility, First Mint, LLC, and offers a portion of its silver production for sale to the public. The San Dimas Silver/Gold Mine is located over 130 kilometers (km) northwest of the city of Durango, Durango State, Mexico and consists of 71,868 hectares of mining claims located in the states of Durango and Sinaloa, Mexico. The Santa Elena Silver/Gold Mine is located over 150 km northeast of the city of Hermosillo, Sonora, Mexico. The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon.

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First Majestic Silver Corp

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Post by akltoon Oct 16, 2013 11:06am

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Post# 21819875

First Majestic Produces a New Record of 3.37 million Silver

Wed Oct 16, 2013
First Majestic Produces a New Record of 3.37 million Silver Equivalent Ounces

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 third quarter ending September 30, 2013, reached a new quarterly record of 3,370,457 equivalent ounces of silver, representing a 38% increase compared to the same quarter in 2012.

Total silver production for the quarter consisted of 2,689,237 ounces of silver, representing an increase of 22% compared to the same quarter in 2012. In addition, 8,543,551 pounds of lead and 2,232,881 pounds of zinc were produced representing an increase of 158% and 164%, respectively, compared to the same quarter of the previous year. Also, 2,942 ounces of gold were produced, representing an increase of 91% compared to the third quarter of 2012.

Keith Neumeyer, President & CEO of First Majestic, states, "While the third quarter was another volatile period for silver prices, we continue to make progress with our growth strategy in Mexico. The San Martin mill expansion, which is now complete, marks the third major project completed by First Majestic in 2013, following the recent production start-up of Phase 1 at the Del Toro Silver Mine and the completion of the mill expansion at the La Guitarra Silver Mine. Our operations team deserves to be recognized for a job well done."

Production Details Table:

Consolidated Production Results	Quarter Ended September 30, 2013	Quarter Ended September 30, 2012	% Change over Prior Year's Quarter
Ore processed/tonnes milled	641,345	666,688	-4%
Total production - ounces of silver equivalent	3,370,457	2,438,085	38%
Total silver ounces produced	2,689,237	2,205,237	22%
Silver Grade (g/t)	202	167	21%
Silver Recovery (%)	65%	62%	5%
Pounds of lead produced	8,543,551	3,307,944	158%
Equivalent ounces from lead	382,385	99,263	285%
Pounds of zinc produced	2,232,881	844,953	164%
Equivalent ounces from zinc	88,754	24,577	261%
Gold ounces produced	2,942	1,537	91%
Equivalent ounces from gold	182,891	91,690	99%
Tonnes of iron ore produced	5,203	4,673	11%
Equivalent ounces from iron	27,190	17,318	57%