InvestorsHub Logo
Followers 439
Posts 45331
Boards Moderated 4
Alias Born 05/11/2008

Re: None

Wednesday, 02/22/2017 8:13:29 AM

Wednesday, February 22, 2017 8:13:29 AM

Post# of 44341
First Majestic Announces Financial Results for Q4 and Year End 2016

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 22, 2017) - FIRST MAJESTIC SILVER CORP.

http://www.marketwired.com/press-release/first-majestic-announces-financial-results-for-q4-and-year-end-2016-frankfurt-fmv-2197570.htm

(FRANKFURT:FMV)(TSX:FR)(NYSE:AG)(BVM:AG) (the "Company" or "First Majestic") is pleased to announce the consolidated financial results for the Company's fourth quarter and year ended December 31, 2016. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.firstmajestic.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

FULL YEAR 2016 HIGHLIGHTS

Produced a record 11.9 million ounces of silver, or 18.7 million silver equivalent ounces.
AISC of $10.79 per payable silver ounce, representing a 20% decrease compared to 2015.
Record revenues of $278.1 million, representing a 27% increase compared to 2015.
Mine operating earnings of $49.2 million, representing a 464% increase compared to 2015.
Earnings per share of $0.05 (basic) compared to a loss per share of ($0.84) in 2015.
Operating cash flows before working capital and taxes of $107.3 million or $0.67 per share.
Ended the year with record cash and cash equivalents of $129.0 million, up from $51.0 million in 2015.

Q4 2016 HIGHLIGHTS

Produced 2.8 million ounces of silver, or 4.4 million silver equivalent ounces.
All-in Sustaining costs ("AISC") of $12.90 per payable silver ounce, representing a 14% increase compared to Q4 2015.

Revenues totaled $66.2 million, relatively unchanged compared to Q4 2015.
Mine operating earnings of $9.9 million, representing a 154% increase compared to Q4 2015.
Operating cash flows before working capital and taxes of $23.4 million or $0.14 per share (non-GAAP).

"First Majestic delivered yet another record year of production, realizing the high end of our annual production guidance of 18.7 million silver equivalent ounces while achieving an all-in sustaining cost of $10.79 per ounce that came in well below our cost guidance range of $11.50 to $12.35 per ounce," said Keith Neumeyer, President and CEO of First Majestic.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.