Workers at First Majestic’s Santa Elena mine. Credit: First Majestic.
First Majestic Silver (TSX, NYSE: AG) said total production rose 39% in the third quarter as the Canadian miner churned out the most silver in its history. Shares hit their highest intraday level in more than four years before retreating.
Total production of 7.7 million attributable silver-equivalent oz. in the July-September period included a record 3.9 million oz. silver, 35,681 oz. gold, 13.9 million lb. zinc and 7.7 million lb. lead, Vancouver-based First Majestic said late Wednesday. This compares with 5.5 million silver-equivalent oz. in the same period a year ago.
Driving the record quarterly silver output was attributable production of 1.4 million oz. at Los Gatos – one of the company’s four operating mines in Mexico. First Majestic acquired its 70% stake in the mine in January, and integration is almost complete,…
