First Majestic’s 2014 Silver Equivalent Production Up 19 Percent

First Majestic Silver Corp. (TSX:FS,NYSE:AG) announced its 2014 Q4 and full-year production results, noting that for the whole of 2014 it put out 15,257,958 silver equivalent ounces. That’s a 19-percent rise over 2013 and breaks down into 11,748,721 ounces of silver, 12,283 ounces of gold, 39,192,908 pounds of lead and 13,130,378 pounds of zinc.

As quoted in the press release:

Total production in the fourth quarter also reached a new quarterly record of 4,247,527 equivalent ounces of silver consisting of 3,074,567 ounces of silver, 3,326 ounces of gold, 11,764,160 pounds of lead and 4,580,260 pounds of zinc.

For 2015, the Company anticipates 2015 silver production will range between 11.8 to 13.2 million ounces (15.3 to 17.1 million silver equivalent ounces). A majority of the projected increase will be achieved following the upgrade and expansion of the crushing and grinding area at La Encantada in the first half of 2015 to allow the processing of ore to be increased to 3,000 tpd in combination with an increase in underground mine extraction linked to the addition of bulk mining methods.

Keith Neumeyer, president and CEO of First Majestic, commented:

Our fourth quarter production results show that our operations are back on track following a brief period of operational adjustments. We have made difficult but necessary changes to adapt to the current market environment and our recent cost cutting is beginning to be realized at the operations. We have made great strides thus far and I look forward to further cost improvements and efficiencies throughout 2015.

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