First Majestic Silver Provides 2020 Production Guidance

(RTTNews) - First Majestic Silver Corp. (AG, FR.TO), a mining company focused on silver production in Mexico, expects 2020 silver production to be between 11.8 million ounces to 13.2 million ounces with total production, including gold by-products, between 21.5 million to 24.0 million silver equivalent ounces.

The company stated that its guidance only assumes production coming from its three largest mines: the San Dimas, Santa Elena and La Encantada mines. The San Martin and La Parrilla mines are expected to remain suspended throughout 2020 and the Del Toro mine is being wound down with no production in 2020.

The company plans to increase production at San Dimas by restarting mining operations at the past-producing Tayoltita mine by the end of the first quarter and expects to ramp up production to 300 tpd by the end of 2020.

Silver production at La Encantada is expected to increase to between 2.9 to 3.3 million ounces due to continued improvements in metallurgical recoveries and grades from the San Javier and La Prieta sub-level caving areas.