RE:NEWS- FV Produces 4.7 Million Silver Eqv. Ounces in Q2 Total production in the second quarter of 2016 from First Majestic Silver Corp.'s six operating silver mines reached 4.7 million silver-equivalent ounces, representing a 23-per-cent increase compared with the same quarter in 2015. Total production consisted of 2.8 million ounces of silver, 16,371 ounces of gold, 8.8 million pounds of lead and 3.8 million pounds of zinc.
"We delivered a solid second quarter with total production coming in line with our guidance," said Keith Neumeyer, president and chief executive officer. "I am most pleased to see the grade and recovery increases at Del Toro following improvements in dilution control and the implementation of a flash-flotation approach within the processing plant. In addition, the La Encantada plant resumed normal operations in early May following mechanical modifications to the crushing and grinding areas. These modifications required a temporary mechanical delay which resulted in lower milling rates throughout most of April. At Santa Elena, the operation continues to exceed our production expectations largely in part due to the continued success in mill optimization. As a result, metallurgical recoveries of silver at Santa Elena achieved a new quarterly record of 89 per cent during the second quarter."
A 23% increase in quarterly production YOY, seems very significant to me.