First Majestic Silver Corp. Announces Production Results for the Fourth Quarter and Full Year of 2017; Provides Production Guidance for the Year 2018
For the quarter, the company's total production was 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 provided production guidance for the year 2018. 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 startup of the new roasting circuit at La Encantada. In addition, total production in 2018 is estimated to range between 15.7 million 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 byproduct credits at Santa Elena.