First Majestic Produces 16.2M Silver Eqv. Oz in 2017 (4.1M Silver Eqv. Oz in Q4); Announces 2018 Production Outlook and Cost Guidance

First Majestic Silver (“First Majestic” or the “Company”) (NYSE:AG) (TSX:FR) is pleased to announce the Company’s fourth quarter and full year 2017 production results, as well as production and cost guidance for 2018. Production costs are scheduled to be released on February 28, 2018 with the Company’s full-year and fourth quarter 2017 financial results.
Total production in 2017 reached 16.2 million equivalent ounces of silver, representing a 13% decrease over 2016, and in-line with the Company’s guidance of 15.7 to 16.6 million silver equivalent ounces. Total production consisted of 9.7 million ounces of silver, 62,991 ounces of gold, 24.5 million pounds of lead and 3.9 million pounds of zinc. Annual silver production of 9.7 million ounces was 3% below the Company’s guidance of 10.0 to 10.6 million ounces of silver.
Keith Neumeyer, President & CEO, stated:

“Santa Elena and San Martin were the star performers in 2017. In 2018, we expect higher grades, throughputs and recoveries to improve the operations at La Encantada, La Parrilla, La Guitarra and Del Toro due to the concerted investments in exploration and development that commenced in late 2016.
In addition, the acquisition of the San Dimas mine comes at a great time with all our other operations benefiting simultaneously from increased investments. As a result, the business will benefit from improved operating margins, increased cash flows and greater economies of scale into the coming quarters.”

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