Precious Metals


Silver miners are releasing their 2015 production results en masse. Here’s a look at how much they produced last year.

January is just over halfway done, and thus far it’s been a month of ups and downs for the silver price. While the white metal rose as high as $14.31 per ounce on January 7, since then it’s bounced around, most recently closing Tuesday at $14.02.
Against that backdrop, silver miners have been releasing their results for Q4 2015 and 2015 as a whole. Many were able to set new annual production records despite difficult market conditions, and a few produced sizable amounts of gold as well.
Without further ado, here’s a look at a selection of silver miners that have released their 2015 production results. Click through to their press releases for more information, and don’t forget to look out for their financial results in the near future.

Coeur Mining (NYSE:CDE)

2015 silver production: 15.9 million ounces
2015 gold production: 327,908 ounces
Coeur’s 2015 silver and gold production both came in above guidance, and the company has already said that in 2016 it expects to put out 14.6 to 16 million ounces of silver and 320,000 to 347,000 ounces of gold. Coeur plans to release its full operational and financial results for Q4 2015 and full-year 2015 on February 10. More details can be found in the company’s press release.

Endeavour Silver (TSX:EDR,NYSE:EXK)

2015 silver production: 7.2 million ounces
2015 gold production: 59,990 ounces
For 2015, Endeavour’s silver production came in above guidance, while its gold production was in line with guidance. The company plans to release its updated reserve and resource estimates, plus its 2016 production guidance, by the end of the month. Get more details in Endeavour’s press release.

First Majestic Silver (TSX:FR,NYSE:AG)

2015 silver production: 11.1 million ounces
2015 gold production: 25,467 ounces
In all, First Majestic produced 16.1 million silver equivalent ounces in 2015, a new annual record. In addition to gold and silver, the amount includes 40.1 million pounds of lead and 17.5 million pounds of zinc. Next year, the company is calling for silver production of 12 to 13.3 million ounces. First Majestic’s press release can be found here.

Fortuna Silver Mines (TSX:FVI,NYSE:FSM)

2015 silver production: 6.6 million ounces
2015 gold production: 39,689 ounces
Respectively, Fortuna’s 2015 silver and gold production were 2 and 3 percent above guidance. In 2015, the company also produced 35.8 million pounds of zinc, up 31 percent from 2014, and 23.8 million pounds of lead, up 48 percent from 2014. Next year, the company expects to produce 7 million ounces of silver and 42,800 ounces of gold, with the bulk of that coming from its San Jose mine. Read more in Fortuna’s press release.

Great Panther Silver (TSX:GPR,NYSEMKT:GPL)

2015 silver production: 2.4 million ounces
2015 gold production: 21,740 ounces
Great Panther achieved record annual metal production in 2015, putting out a total of 4.2 silver equivalent ounces — all in all, that’s a 30-percent rise from the year-ago period and above guidance. The company also hit silver and gold production records for 2015. In 2016, Great Panther is anticipating consolidated production of between 4 and 4.2 million silver equivalent ounces. Get more information in Great Panther’s press release.

Hecla Mining (NYSE:HL)

2015 silver production: 11.6 million ounces
2015 gold production: 189,162 ounces
In 2015, Hecla exceeded both its silver and gold production guidance, and produced a total of 37.5 million silver equivalent ounces. That’s 9 percent more than in 2014, and 63 percent more than in 2013. The company plans to release its financial results for Q4 2015 and 2015 as a whole on February 23. It will also provide guidance at that time. Read more in Hecla’s press release.

Silver Standard Resources (NASDAQ:SSRI)

2015 silver production: 10.3 million ounces
2015 gold production: 207,006 ounces
Silver Standard achieved record annual production at both of its mines in 2015. Furthermore, in addition to silver and gold, it also put out 9.5 million pounds of zinc in zinc concentrate. In 2016, the company is looking to put out 190,000 to 200,000 ounces of gold, 8 to 10 million ounces of silver and up to 5 million pounds of zinc. Get more details in Silver Standard’s press release.

Tahoe Resources (TSX:THO,NYSE:TAHO)

2015 silver production: 20.4 million ounces
2015 gold production: 230,436 ounces
Last year, Tahoe’s silver production came in within guidance of 18 to 21 million ounces; meanwhile, it achieved record gold production. In 2016, Tahoe is calling for silver production to again fall between 18 and 21 million ounces, while it anticipates gold output of 200,000 to 250,000 ounces. View Tahoe’s press release here for more information.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. 


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