First Majestic Produces Record Amount of Silver Equivalent Ounces

First Majestic Silver Corp. (TSX:FR,NYSE:AG) announced its results for the second quarter of 2014, commenting that its five operating Mexico-based silver mines put out a record 3,855,224 silver equivalent ounces. That’s an 18-percent increase from the year-ago quarter.

As quoted in the press release:

Total silver production for the quarter consisted of 3,098,218 ounces of silver, representing an increase of 12% compared to the same quarter in 2013. In addition, 9,131,149 pounds of lead and 2,637,967 pounds of zinc were produced, representing an increase of 54% and a decrease of 9%, respectively, compared to the same quarter of the previous year. Also produced were 2,801 ounces of gold, representing an increase of 40% compared to the second quarter of 2013.

Keith Neumeyer, First Majestic’s president and CEO, commented:

Higher grades and recoveries in the second quarter propelled total silver production to over 3 million ounces, the highest production rate in the Company’s history. This achievement was partially due to a 59% increase in silver production at San Martin, when compared to the prior quarter, due to higher milling rates following the completion of the recent plant expansion and an increase in silver grades.

Our focus in the second half of 2014 will be to continue to seek and implement new technologies and process automations with the objective to further increase efficiencies and reduce costs.

Click here to read the full First Majestic Silver Corp. (TSX:FR,NYSE:AG) press release.