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Thread: First Majestic

  1. #11

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    " First Majestic Reports Third Quarter Financial Results and Quarterly Dividend Payment

    Vancouver, BC, Canada – First Majestic Silver Corp. (NYSE:AG) (TSX:FR) (FSE:FMV) (the "Company" or “First Majestic”) is pleased to announce the unaudited interim consolidated financial results of the Company for the third quarter ended September 30, 2023. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

    Q3 2023 HIGHLIGHTS

    Production of 6.3 million silver equivalent (“AgEq”) ounces, consisting of 2.5 million silver ounces and 46,720 gold ounces, comparable to the previous quarter.
    Quarterly revenues totalled $133.2 million, compared to $146.7 million in the previous quarter.
    Mine operating earnings totalled $13.0 million, compared to $1.1 million in the previous quarter.
    Operating cash flows before movements in working capital and taxes totalled $14.1 million, compared to $26.9 million in the previous quarter.
    Consolidated cash costs improved to $14.13 per AgEq ounce and All-in sustaining costs (“AISC”) (see “Non-GAAP Financial Measures”, below) improved to $19.74 per AgEq ounce representing a reduction of 9% and 8%, respectively, compared to the previous quarter.
    Adjusted net earnings of ($10.93) million (adjusted EPS of ($0.04)) (see “Non-GAAP Financial Measures”, below) after excluding non-cash and non-recuring items.
    Sold 61,444 ounces of silver bullion, or approximately 2.9% of the Company’s silver production, on First Majestic’s online bullion store at an average silver price of $26.17 per ounce for total proceeds of $1.6 million.
    At the end of the quarter, the Company had a cash and restricted cash balance of $257.3 million consisting of $138.3 million cash and cash equivalents and $119.0 million of restricted cash.
    Declared a cash dividend payment of $0.0046 per common share for the third quarter of 2023 for shareholders of record as of the close of business on November 15, 2023, and will be distributed on or about, November 30, 2023."
    American Legion Preamble: https://www.legion.org/preamble

  2. #12

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    " First Majestic Produces 6.6 Million AgEq Oz in Q4 2023 and 26.9 Million AgEq Oz in 2023;

    Announces 2024 Production and Cost Guidance and Announces Conference Call Details.

    Vancouver, BC, Canada – First Majestic Silver Corp. (NYSE:AG) (TSX:FR) (FSE:FMV) (the “Company” or “First Majestic”) announces that total production in the fourth quarter of 2023 from the Company’s three producing mines in Mexico, namely the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine reached 6.6 million silver equivalent (“AgEq”) ounces, consisting of 2.6 million silver ounces and 46,585 gold ounces. Total production for the full year of 2023 consisted of 26.9 million AgEq ounces, aligned to the Company’s 2023 revised guidance of between 26.2 to 27.8 million AgEq ounces, consisting of 10.3 million silver ounces and 198,921 gold ounces.

    Q4 2023 HIGHLIGHTS

    Total Production Increased by 6% Q/Q: Total production reached 6.6 million AgEq ounces in Q4, representing a 6% increase when compared to 6.3 million AgEq ounces produced in the previous quarter. The higher production is related to record quarterly production at Santa Elena of 3.0 million AgEq ounces, partially offset by lower silver production at La Encantada due to the ongoing limited water availability.

    Record production at Santa Elena – up 13% Q/Q: Santa Elena achieved a new quarterly production record in Q4. Strong metal recoveries and grades from Ermitaño enabled Santa Elena to produce 3.0 million AgEq ounces in the fourth quarter, representing a 13% increase compared to the prior quarter.

    Safety: The 2023 consolidated Total Reportable Incident Frequency Rate (“TRIFR”) was 1.02 and the Lost Time Incident Frequency Rate (“LTIFR”) was 0.34, an improvement of 16% and 33% compared to prior year, respectively.

    Environmental, Social and Governance (“ESG”): First Majestic's ESG score with Sustainalytics has improved from 50.56 in 2022 to 31.0 by the end of 2023, putting the Company in the top 38% of its industry peers.
    16 Active Drill Rigs: The Company completed a total of 32,881 metres (“m”) of drilling across its mines in Mexico during the fourth quarter. Throughout the quarter, up to sixteen drill rigs were active consisting of twelve rigs at San Dimas, and four rigs at Santa Elena.

    FY 2023 HIGHLIGHTS

    Consolidated production in 2023 reached 26.9 million AgEq ounces, aligned to the midpoint of the 2023 revised guidance of between 26.2 to 27.8 million AgEq ounces. The-year-over-year decrease can be attributable to the temporary suspension of Jerritt Canyon that was announced by the Company on March 20, 2023.

    Silver production reached 10.3 million ounces, compared to revised guidance range of between 10.5 to 11.2 million ounces, primarily due to lower silver production in H2 at La Encantada. Gold production in 2023 totaled 198,921 ounces aligned to the higher end of the Company’s revised guidance range of between 190,000 to 201,000 ounces.

    Santa Elena produced a new annual record of 9.6 million AgEq ounces in 2023, representing a 5% increase compared to 2022. Mine output and grades from Ermitaño remained strong throughout 2023, and combined with record metallurgical recoveries facilitated by the newly commissioned dual-circuit plant, this enabled Santa Elena to deliver strong production in 2023.

    The Company announced the launch of its 100%-owned and operated minting facility, First Mint, LLC (“First Mint”), which is currently in the commissioning stage. This facility will expand upon existing bullion sales through vertically integrating production of investment-grade fine silver bullion. This will allow First Majestic to sell a substantially greater portion of its silver production directly to its customers.

    Completed the move of the ISO 9001:2015 certified Central Laboratory from Durango to Santa Elena.

    Successfully closed the sales of the La Guitarra Silver Mine and the La Parrilla Silver Mine to Sierra Madre Gold & Silver Ltd. and Silver Storm Mining Ltd., respectively. "
    American Legion Preamble: https://www.legion.org/preamble

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