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 > Second quarter results

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Post by John007on Aug 17, 2021 9:35am

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Post# 33716096

Second quarter results

SECOND QUARTER 2021 HIGHLIGHTS

Revenues reached a new Company record of $154.1 million following the inclusion of approximately two months of production from the Jerritt Canyon mine in Nevada and robust production from the Mexican operations
Average realized silver price per ounce of $27.32, a 1% increase compared to Q1 2021
Cash costs increased to $13.89 per AgEq ounce, compared to $12.61 in Q1 2021, primarily due to higher ore development and the addition of the Jerritt Canyon operation
AISC were relatively unchanged at $19.42 per AgEq ounce, compared to $19.35 in Q1 2021
Mine operating earnings of $29.4 million, compared to $28.1 million in Q1 2021
Net earnings of $15.6 million (EPS of $0.06), compared to $1.9 million (EPS of $0.01) in Q1 2021
Adjusted EPS of $0.05 after excluding non-cash and non-recurring items, compared to $0.03 in Q1 2021 (non-GAAP)
Cash flow per share was $0.21 per share (non-GAAP), compared to $0.14 per share in Q1 2021
Cash and cash equivalents as of June 30, 2021 was $227.1 million. In addition, the Company has a strong working capital position of $276.3 million and total available liquidity of $316.3 million, including $40.0 million of available undrawn revolving credit facility
Declared a cash dividend payment of $0.006 per common share for the second quarter of 2021 for shareholders of record as of the close of business on August 26, 2021, and will be distributed on or about September 16, 2021