First Majestic Silver Corp. Reports Production Results for the Fourth Quarter and Full Year of 2012; Provides Production Guidance for the Full Year of 2013
For the year, the company reported the total production in 2012 reached 9,110,452 equivalent ounces of silver, representing a 20% increase over 7,562,494 equivalent ounces of silver produced in 2011. The equivalent silver production for 2012 consisted of 8,260,434 ounces of pure silver, representing a 14% increase from the prior year, 13,240,889 pounds of lead, representing a 68% increase from the previous year, 4,952,899 pounds of zinc, representing a 2,671% increase from the previous year, 18,329 tonnes of iron ore, representing an 85% increase from the previous year, and 4,221 ounces of gold, representing an increase of 175% compared to the previous year. Total silver production in 2012 as a percentage of total metal production amounted to 91%.
The company has elected to provide guidance for 2013 production estimated in a range from 12.3 to 13.0 million ounces of silver equivalent or 11.1 to 11.7 million ounces of pure silver. On a year-over-year comparison, this 2013 estimate represents an increase of 34% to 42% of pure silver production maintaining First Majestic's status as the silver industry's growth leader.