First Majestic Silver Produces 4.5 Million Silver Equivalent Ounces in Q3 2016

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1082-tsx/fr/26513-first-majestic-silver-produces-4-5-million-silver-equivalent-ounces-in-q3-2017.html

Nov. 9, 2016 – First Majestic Silver Corp. (TSX:FR / NYSE:AG) (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, 2016. The full version of the financial statements and the management discussion and analysis can be viewed on the Company’s web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.All amounts are in U.S. dollars unless stated otherwise.

THIRD QUARTER 2016 HIGHLIGHTS

(compared to Third Quarter 2015)

  • Silver equivalent production increased 27% to 4.5 million ounces
  • Silver production increased 20% to 3.1 million ounces – a new quarterly record
  • All-in sustaining costs (“AISC”) decreased 27% to $10.52 per payable silver ounce
  • Revenues increased 78% to $79.3 million
  • Realized average silver price increased 30% to $19.72 per ounce
  • Mine operating earnings increased 656% to $20.0 million
  • Net earnings increased 556% to $8.1 million (Basic EPS of $0.05)
  • Adjusted earnings, excluding non-cash and non-recurring items, increased 254% to $11.7 million (Adjusted EPS of $0.07)
  • Operating cash flows before working capital and taxes increased 319% to $35.4 million or $0.22 per share (non-GAAP)
  • Cash costs decreased 33% to $5.84 per payable silver ounce (net of by-product credits)
  • Cash and cash equivalents totaled $122.5 million at the end of the quarter, representing a $14.3 million increase compared to the previous quarter

Leave a Reply