Business

First Majestic Silver Corp (NYSE: AG) Speaks out in Relation to The Production of 3.3 Million Ounces of Silver and 46,545 Ounces of Gold in the Second Quarter of 2021

First Majestic Silver Corp (NYSE: AG) has unveiled the total production in the second quarter of 2021. The reports cover production in all four producing operations, namely the La Encantada Silver Mine, the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the recently acquired Jerritt Canyon Gold Mine. 

The production reached 6.4 million silver equivalent ounces comprising 46,545 ounces of gold and 3.3 million ounces of silver.

First Majestic Silver Corp hopes to unveil its financial results for the second quarter of 2021 on Monday.

The highlights

The production of  6.4 million silver equivalent ounces comprising 46,545 ounces of gold and 3.3 million ounces of silver marked  13%  increases, respectively. It was an impressive rise considering the previous quarter’s performance. In addition, the company speaks out about the 14% increase in silver equivalent production in the three of its mines in Mexico, outlining that it contributed immensely to impressive performance.

Neumeyer speaks out on the recent developments

The President & CEO of First Majestic, Keith Neumeyer, applauds the second-quarter performance, outlining that it marked a significant milestone for them. 

He stated, “The acquisition of Jerritt Canyon not only gave us a new quarterly record in gold production, but it represents the company’s first major investment outside of Mexico. The overall integration process of this new mine is going well and has included several site management changes designed to grow this important operation to production levels not seen for over 15 years.”

The leader dwells in the company’s turnaround story of San Dimas, outlining that they will continue working towards making some significant improvements to Jerritt Canyon. However, he admits that it will take a great deal of investment and time to complete.

He also speaks about the plans underway to explore the potential across Jerritt Canyon’s land package, in which case they anticipate drilling multiple exciting targets. One of the targets happens to be the Waterpipe II.

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