First Majestic Q1 Profit Jumps on Strong Silver Prices

Reuters Africa reported that profits for First Majestic (TSX:FR) were up in first quarter 2011 due to higher silver prices.

The market news is quoted as saying:

In the quarter, production rose 13 percent to 1.8 million silver equivalent ounces. Total cash costs per ounce rose to $8.26 from $7.67 in the year-ago quarter.

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