This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Silver DorA© Production Commences At The Del Toro Silver Mine

In respect to the exploration and development programs since the release of the PFS, the Company has invested an additional $13.4 million which was primarily consisting of expansionary capital to enhance the potential of the Del Toro mine and to extend its mine life. The Company expects to invest, up to December 31, 2014, an additional $19.2 million on exploration and development, $22.5 million on additional plant and equipment, and $3.9 million which has been budgeted towards the completion of the 115kW power line.

As previously announced, the Company is planning to accelerate the ramp up of the cyanidation circuit to 2,000 tpd in early 2014. However, due to persistently low silver prices, management has determined to delay further investment at Del Toro beyond what is necessary. The installation of the first SAG mill has been delayed and as a result total throughput at Del Toro is expected to reach 2,500 tpd in the first quarter of 2014. Management will determine at which time, the expansion to 3,000 tpd or beyond will occur. With these changes in throughput and assuming the mill is maintained at 2,500 tpd throughout 2014, management estimates production of approximately 3.1 million ounces silver or 3.3 million ounces of silver equivalent, with the majority of these ounces coming in the form of silver doré bars, thereby reducing treatment costs due to less Lead and Zinc concentrate production as outlined in the earlier plant design detailed in the PFS.

First Majestic is a mining company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs