Gold and Silver miners (Jr and Exploration)

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First Majestic Silver sees 2017 production in-line with guidance, 2018 higher

Jan. 16, 2018 12:45 PM ET|About: First Majestic Silver Corp. (AG)|By: Carl Surran, SA News Editor

First Majestic Silver (AG +5.9%) is higher after reporting 2017 production reached 16.2M equiv. oz. of silver, a 13% Y/Y decline but in line with the company's guidance of 15.7M-16.6M silver equiv. oz.

Annual silver production of 9.7M oz. was 3% below AG's guidance of 10M-10.6M oz., including Q4 silver production of 2.3M oz. and silver equiv. output of 4.1M oz.

AG anticipates 2018 silver production of 10.6M-11.8M oz., a 15% Y/Y increase based on the midpoint of its guidance range, primarily due to higher silver grades from caving and the start-up of the new roasting circuit at La Encantada; total 2018 silver equiv. production is forecast at 15.7M-17.5M oz., a slight increase from 2017, mostly due to higher silver production at La Encantada offset by less gold by-product credits at Santa Elena.

AG also projects 2018 all-in sustained costs of $15.21-$16.56 per payable silver oz.

https://seekingalpha.com/news/3322971-first-majestic-silver-sees-2017-production-line-guidance-2018-higher