First Majestic Silver 2017 Production Declines

(RTTNews) - First Majestic Silver Corp. (AG, FR.TO) reported that its total production in 2017 reached 16.2 million equivalent ounces of silver, representing a 13% decrease over 2016, and in-line with the Company's guidance of 15.7 to 16.6 million silver equivalent ounces. Total production consisted of 9.7 million ounces of silver, 62,991 ounces of gold, 24.5 million pounds of lead and 3.9 million pounds of zinc. Annual silver production of 9.7 million ounces was 3% below the Company's guidance of 10.0 to 10.6 million ounces of silver.

Total production in the fourth quarter of 2017 totaled 4.1 million equivalent ounces of silver consisting of 2.3 million ounces of silver, 17,344 ounces of gold, 4.3 million pounds of lead and 1.3 million pounds of zinc.

The company anticipates 2018 silver production will range between 10.6 million ounces to 11.8 million ounces. Based on the midpoint of the guidance range the Company expects a 15% increase in silver production compared to 2017, primarily due to higher silver grades from caving and the start-up of the new roasting circuit at La Encantada. In addition, total production in 2018 is estimated to range between 15.7 to 17.5 million silver equivalent ounces, representing a slight increase from 2017, primarily due to higher silver production at La Encantada offset by less gold by-product credits at Santa Elena.