First Majestic Silver Corp. (AG)

[goforthebet]

First Majestic to Resume Operations at La Encantada

http://ih.advfn.com/p.php?pid=nmona&article=74909388

Date : 06/02/2017 @ 3:28PM

FIRST MAJESTIC SILVER CORP. (NYSE:AG) (TSX:FR) (the "Company" or “First Majestic”) is pleased to announce that it has reached a tentative agreement with the National Union of Miners, Metallurgists, Steelworkers and Similar Workers of Mexico (National Union), to restart operations at the La Encantada Silver Mine in the state of Coahuila, Mexico. In the coming weeks, the Company will undertake a phased restart of operations.


On May 20th, a rogue group of workers halted activities via an illegal blockade after some of the individuals did not agree with the bonus that the Company and the National Union had previously agreed to offer the miners in lieu of profit sharing. Since then, the Company and the National Union have been working together to find an agreement to the dispute which will be favourable for all parties.

Keith Neumeyer, President & CEO commented, “I am very pleased by the responsiveness and cooperation we have received from the National Union in working with us towards finding a solution that satisfies all parties. La Encantada is one of the largest employers in the area and is crucial to the overall health of the local economy.”

The Company is planning to implement a reinduction and retraining process for the union miners as soon as next week. Mine production is now expected to restart by mid-June before ramping up to full production by the end of June.

ABOUT FIRST MAJESTIC
First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates six producing silver mines; the La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and the Santa Elena Silver/Gold Mine. Production from these six mines is projected to be between 11.1 to 12.4 million ounces of pure silver or 16.6 to 18.5 million ounces of silver equivalents in 2017.

FOR FURTHER INFORMATION contact [e-mail], visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer, President & CEO