First Majestic, ein Silberjunior auf dem Weg in die Mittelklasse? - Älteste Beiträge zuerst (Seite 3714)

[Ratenkredit]

First Majestic Produces a Record 5.1M Silver Equivalent Ounces in Second Quarter; Increases 2018 Production Guidance to 20.5M – 22.6M Silver Equivalent Ounces





WeiterempfehlenPrint
July 16, 2018 16:30 ET | Source: First Majestic Silver Corp
VANCOUVER, British Columbia, July 16, 2018 (GLOBE NEWSWIRE) -- First Majestic Silver Corp. (NYSE:AG) (TSX:FR) (FRANKFURT:FMV) ("First Majestic" or the "Company") announces total production in the second quarter of 2018 from its seven operating silver mines reached a new Company record of 5.1 million equivalent ounces of silver. Total production consisted of 2.8 million ounces of silver, 25,449 ounces of gold, 3.9 million pounds of lead and 1.4 million pounds of zinc.

The Company has increased its 2018 annual silver production to a new range of 12.0 to 13.2 million ounces, or 20.5 to 22.6 million silver equivalent ounces primarily due to the addition of the San Dimas Silver/Gold mine which was acquired on May 10, 2018. This compares to the previous annual production guidance of 10.6 to 11.8 million ounces of silver, or 15.7 to 17.5 million silver equivalent ounces.

“During the quarter, the integration of the newly acquired San Dimas mine into our Mexican portfolio was our primary focus,” said Keith Neumeyer, President & CEO. “The world-class San Dimas operation, which contributed only seven weeks of production in the second quarter, propelled the Company to a new quarterly production record of 5.1 million silver equivalent ounces and has become our cornerstone asset and will remain a major focus for the next several quarters as we optimize the operation. Short term, we are focused on reducing underground dilution and implementing mill automation processes, including the installation of high intensity grinding technologies in order to increase efficiencies and reduce production costs. In addition, under the new streaming agreement, we are going back to mine numerous high-grade silver veins that were previously deemed uneconomic by the previous operator. In 2018, all-in sustaining costs at San Dimas are projected to be between $6.99 to $8.19 per ounce, making it our lowest cost and our largest producing mine.”

Mr. Neumeyer continued, “At La Encantada, the construction of the new roaster is in its final stages. Commissioning and start up procedures are expected to begin in late August before ramping up to commercial production by the end of the year. These are exciting times for the Company, our employees and our stakeholders.”

PRODUCTION TABLE

Q2 Q2 Y/Y Q1 Q/Q
2018 2017 Change 2018 Change
Ore processed/tonnes milled 851,349 691,833 23% 809,775 5%
Total production - ounces of silver equivalent 5,137,318 3,888,944 32% 3,879,678 32%
Silver ounces produced 2,756,263 2,287,188 21% 2,167,030 27%
Gold ounces produced 25,449 15,186 68% 15,887 60%
Pounds of lead produced 3,949,410 7,625,328 -48% 4,448,378 -11%
Pounds of zinc produced 1,382,760 860,939 61% 1,611,699 -14%
QUARTERLY REVIEW

Total ore processed during the quarter at the Company's seven operating silver mines: San Dimas, Santa Elena, La Encantada, La Parrilla, Del Toro, San Martin and La Guitarra, amounted to 851,349 tonnes, representing a 5% increase compared to the previous quarter. The increase in tonnes compared to the prior quarter was primarily due to the addition of the San Dimas production, offset by a 14% decrease in throughput at La Encantada.

Consolidated silver grades in the quarter averaged 127 g/t compared to 111 g/t in the previous quarter. The 14% increase in silver grades was primarily the result of the addition of seven weeks of production from San Dimas.

Consolidated silver recoveries averaged 79%, representing a 6% increase compared to the previous quarter. The Company expects further improvements in recoveries with the anticipated installation and commissioning of the microbubble flotation columns at La Parrilla in the third quarter of 2018, followed by Del Toro in the first quarter of 2019. In addition, delivery and installation of the High Intensity Grinding (“HIG”) mills at Santa Elena and San Dimas are planned for October and November, respectively, followed by commissioning over the following quarter. The benefits of this new technology, most notably higher recoveries and lower operating costs, are expected to be realized after completing ramp up to commercial production in the first half of 2019.

The Company's underground development in the second quarter consisted of 17,838 metres, reflecting a 20% increase compared to 14,914 metres completed in the previous quarter. Additional development contractors were brought in during the second quarter at La Encantada and Del Toro to focus on increasing development rates to support production. Development remains focused on opening new production areas, exploring high potential zones and new stope preparation.

During the quarter, up to 29 diamond drill rigs were active across the Company’s properties. A total of 298 drill holes were completed for a total of 73,899 metres on the seven producing assets as well as the Plomosas Silver Project, representing a 65% increase in drilled metres compared to the previous quarter. Primary exploration activities focused on replacement deposits at the Quebradillas mine and the epithermal vein system at Cerro de Santiago at La Parrilla, exploring extensions of the main Santa Elena vein, vein splays of Santa Elena and at the Ermitaño-West project at Santa Elena, exploring Santa Jessica, Santa Regina and Alexa veins in the Central block and Sinaloa Graben at San Dimas and exploring vein mineralization at the San Juan mine at the Plomosas Silver Project.

MINE BY MINE PRODUCTION TABLE

Mine Ore Processed Tonnes per Day Silver Oz Produced Gold Oz Produced Pounds of Lead Pounds of Zinc Equivalent Silver Ounces
San Dimas(1) 85,765 1,649 808,923 11,348 - - 1,698,382
Santa Elena 228,054 2,506 535,015 11,040 - - 1,407,880
La Encantada 237,862 2,614 325,603 23 - - 327,458
La Parrilla 123,642 1,359 360,862 235 1,653,868 1,382,760 605,826
Del Toro 65,879 724 167,591 73 2,295,542 - 323,714
San Martin 74,431 818 419,815 1,331 - - 524,843
La Guitarra 35,715 392 138,454 1,399 - - 249,214
Total 851,349 9,355 2,756,263 25,449 3,949,410 1,382,760 5,137,318
1) San Dimas production was over the period May 10, 2018 to June 30, 2018, or 52 days.
*Certain amounts shown may not add exactly to the total amount due to rounding differences.
*The following prices were used in the calculation of silver equivalent ounces: Silver: $16.52 per ounce; Gold: $1,300 per ounce; Lead: $1.08 per pound; Zinc: $1.41 per pound.

At the San Dimas Silver/Gold Mine:

For the last seven weeks of the second quarter after acquiring San Dimas, the operation produced 808,923 ounces of silver and 11,348 ounces of gold for a total production of 1,698,382 silver equivalent ounces.
The mill processed a total of 85,765 tonnes with average silver and gold grades of 307 g/t and 4.3 g/t, respectively.
A total of 2,481 metres of underground development was completed in the second quarter.
Six drill rigs completed 22 drill holes for a total of 10,522 metres of exploration drilling during the quarter with a primary focus around Santa Jessica, Santa Regina and Alexa veins in the Central block and Sinaloa Graben.
At the Santa Elena Silver/Gold Mine:

During the quarter, Santa Elena produced 535,015 ounces of silver and 11,040 ounces of gold for a total production of 1,407,880 silver equivalent ounces, reflecting a 9% decrease compared to the prior quarter.
The mill processed a total of 228,054 tonnes, consisting of 128,200 tonnes of underground ore and 99,854 tonnes from the above ground heap leach pad.
Silver and gold grades from underground ore averaged 120 g/t and 2.3 g/t, respectively. Silver and gold grades from the above ground heap leach pad averaged 36 g/t and 0.7 g/t, respectively.
A total of 2,926 metres of underground development was completed in the second quarter compared to 3,030 metres of development in the previous quarter.
Four drill rigs completed 35 drill holes for a total of 10,717 metres of exploration drilling during the quarter compared to 7,097 metres of drilling in the previous quarter.
At the La Encantada Silver Mine:

For the quarter, silver production reached 325,603 ounces representing a 28% decrease from the previous quarter. The decrease in silver production was primarily due to a 14% decrease in tonnes milled and a 14% decrease in silver recoveries compared to the prior quarter.
Silver grades and recoveries during the quarter averaged 83 g/t and 51%, respectively. The San Javier breccia produced 27,500 tonnes with an average silver grade of 103 g/t. Silver grades began to show improvements starting in June as some of the existing ore extraction points passed through a low-grade column of ore blocks and began producing from a high-grade column. Further grade improvements are expected in the second half of 2018 due to higher production rates from San Javier and the start-up of production at the La Prieta breccia.
The roasting project advanced in the second quarter with the completion of the rotary kiln brick lining, grate cooler and thermal insulation of the tertiary air duct. At the end of June, approximately 87% of the project was completed. The coal pulverizing facility, motor control center and electrical wiring are scheduled to be completed by the end of July. Initial production from the roaster is now estimated to begin in late August and ramp up to commercial production by the end of the year.
A total of 1,718 metres of underground development were completed in the second quarter compared to 1,445 metres of development in the previous quarter.
Two drill rigs completed 41 drill holes for a total of 7,020 metres of exploration drilling during the quarter compared to 4,574 metres of drilling in the previous quarter.
At the La Parrilla Silver Mine:

During the quarter, the flotation circuit processed 70,771 tonnes (778 tpd) with an average silver grade of 131 g/t and a 78% recovery while the cyanidation circuit processed 52,871 tonnes (581 tpd) with an average silver grade of 105 g/t and a 71% recovery for total production of 605,826 silver equivalent ounces.
The lead circuit processed an average lead grade of 1.4% with recoveries of 77% for total lead production of 1.7 million pounds, representing a 3% increase compared to the previous quarter.
The zinc circuit processed an average zinc grade of 1.5% with recoveries of 60% for total zinc production of 1.4 million pounds, representing a 14% decrease compared to the previous quarter.
Underground development completed in the quarter totaled 2,761 metres compared to 3,254 metres developed in the previous quarter.
Five drill rigs completed 41 drill holes for a total of 10,444 metres of exploration drilling during the quarter compared to 8,358 metres of drilling in the previous quarter.
At the Del Toro Silver Mine:

During the quarter, Del Toro produced a total of 323,714 silver equivalent ounces reflecting a 26% decrease compared to the prior quarter primarily due to a 17% decrease in throughput, and a 12% decrease in silver grade.
Silver grades and recoveries during the quarter averaged 117 g/t and 68%, respectively.
Lead grades and recoveries averaged 2.7% and 58%, respectively, producing a total of 2.3 million pounds of lead representing a 19% decrease compared to the previous quarter.
Underground development completed in the quarter totaled 3,044 metres compared to 2,836 metres developed in the previous quarter.
Three drill rigs completed 70 drill holes for a total of 9,145 metres of exploration drilling during the quarter compared to 5,824 metres of drilling in the previous quarter.
At the San Martin Silver Mine:

During the quarter, San Martin produced 419,815 ounces of silver and 1,331 ounces of gold for a total production of 524,843 silver equivalent ounces, reflecting a 9% decrease compared to the prior quarter. The decrease in production was primarily attributed to a 13% decrease in silver grades.
Silver grades and recoveries averaged 203 g/t and 87%, respectively, during the quarter. In addition, gold grades and recoveries averaged 0.6 g/t and 87%, respectively.
Underground development completed in the quarter totaled 2,957 metres compared with 2,966 metres of development in the previous quarter.
Three drill rigs completed 36 drill holes for a total of 9,781 metres of exploration drilling during the quarter compared to 4,928 metres of drilling in the previous quarter.
At the La Guitarra Silver Mine:

During the quarter, La Guitarra produced 138,454 ounces of silver and 1,399 ounces of gold for a total production of 249,214 silver equivalent ounces reflecting a 2% decrease compared to the prior quarter.
Silver grades and recoveries averaged 154 g/t and 78%, respectively, during the quarter. In addition, gold grades and recoveries averaged 1.5 g/t and 79%, respectively.
A total of 1,950 metres of development were completed in the second quarter compared to 1,384 metres of development in the previous quarter.
Three drill rigs completed 21 drill holes for a total of 7,613 metres of exploration drilling during the quarter compared to 5,806 metres of drilling in the previous quarter.
SAN DIMAS OPTIMIZATION PLANS

Given its extensive 250-year production history in Mexico, San Dimas is one of the country’s most prominent silver and gold mines as well as the largest producing underground mine in the state of Durango. However, due to poor economic conditions over recent years caused by weak metal prices and the previous streaming agreement, the operation suffered from a lack of investment. Under the new streaming arrangement as of May 10th, the operation is now generating significant cash flows allowing First Majestic to deploy capital towards exploration and underground development in areas of the mine that were previously deemed uneconomic.

Since the acquisition announcement in January 2018, First Majestic has been developing a long-term mine and mill automation plan for the future of the operation. The Company has identified numerous projects that will be implemented over the next 12 to 18 months to improve production costs at the mine and processing plant, including:

Implementation of High Intensity Grinding technology
Lime automation and pH control
Upgrading the tailings filtration plant
Modernization of the Merrill-Crowe and smelting operations
Installation of the third counter-current decantation tank
Estimated 40% reduction in ore drive development dimensions allowing for reduced dilution and reductions in costs associated with standard ground support
Pillar recoveries from Tayoltita, Santa Rita and Noche Buena mines
In the second half of the 2018, production rates at San Dimas are expected to average 1,700 tpd with estimated average silver and gold grades of 345 g/t and 3.9 g/t, respectively. It should be noted that many of the anticipated benefits from these mine and mill modifications are not yet reflected in the forecasted operating results below and is expected to take several operating quarters to materialize.

[Olderni]

Nur gut, dass San Dimas wohl wirklich ein game changer für AG ist.
Rechnet man SD heraus, sieht es düster aus und das angeblich Wachstum in 2018 wäre nie und nimmer erreichbar gewesen.
SE - ok, aber nicht Spitze
LE - Katastrophe in jeder Hinsicht. Der Roaster kommt jetzt dann im Dezember. Fast ein Jahr verspätet!
LP - Katastrophe
DT - Katastrophe
SM - die oftmals ungeliebte SM hat geliefert
LG - Katastrophe. Offensichtlich kriegt man keine Tonnage bei brauchbaren Grades zusammen. Und nun ist das das Millionengrab praktisch in care & maintenance. Sagte ich schon vor 1-2 Jahren vorher

Natürlich wird das Q2 als Erfolg hingestellt. ich sage nur record production! Die Zahlen geben das sicher her, aber wenn wir ehrlich sind, wäre AG ohne SD praktisch massiv unter Wasser.

Da kann nur besser werden.... und sollte mal der POS anziehen, ja dann wäre alles wieder mit rosa Brillen zu sehen

Grüssung,
E-bert

ps.ich bin gegen einen verkauf von LG. C&M ist aber die richtige MAßnahme

[Ratenkredit]

wie immer von Dir gut zusammengefasst. Naja wenn die alt-Minen nicht greifen aber dann der Zukauf ist es ja wenigstens etwas....... Silber / Gold aber auch so was von schwach......

[Olderni]

Wir haben immer noch Kaufkurse, sogar bei AG
Ich verfolge das jetzt ja schon seit vielen Jahren. Unterm Strich sind die Minen im Grade auch nicht gut genug. Da ist sicher Pech dabei...
Allerdings stell ich auch fest, dass immer viel versprochen wird, aber nur sehr wenig gehalten. Beispiele dafür, die nichts mit Grades zu tun haben, sind.
- der Roaster auf LE
- Die Erweiterung von LG auf 1000 t/d. Das ist gerade mal ein halbes Jahr her und nun will man LG sogar verkaufen
- La Luz, einstmals die "cheapest aquisition in the silver space"
- die 4 Mio Ag/a Del Toro Mine
- das unsäglich langsame Development
- und und und

heißt: Es gibt auch Handlungsbedarf auf Managementseite, da hier entweder falsch entschieden oder nicht richtig nachgehalten oder schlichtweg oft Blödsinn erzählt wird. Kann man sich aussuchen, was am besten passt.

E-bert

[Wallstraat]

Um die 7 $ Nachkaufkurse? Was meint ihr

[dogweiler]

Antwort auf Beitrag Nr.: 58.233.495 von Wallstraat am 17.07.18 15:58:54

Ich würde gerade mal die Füße stillhalten und abwarten.

Die Zahlen waren wirklich grausam schlecht - eine Minenschießung (selbst wenn sie nur vorrübergehend sein sollte) - ist eine einmalige Zäsur in 16 yr Unternehmensgeschichte und könnte negativ nachhallen, jedenfalls für einige Tage.

Darum lieber abwarten, wo sich ein tragfähiger Boden ausbildet. Solange Silber sowieso nur fällt, läuft AG kaum weg.

[Wallstraat]

Gut analysiert ja.. würde zu gerne nachkaufen aber warte erst einmal die Kerze heute ab

[Ratenkredit]

Antwort auf Beitrag Nr.: 58.233.546 von Wallstraat am 17.07.18 16:05:07

Zitat von Wallstraat: Gut analysiert ja.. würde zu gerne nachkaufen aber warte erst einmal die Kerze heute ab

ja, allerdings würde ich genau Silber / FM im Blick behalten. Schaut man sich die Minen an dann wird FM hier gerade abgestraft ( Zahlen) alle anderen recht stabil. Mir sagt dies das Silber nicht weit weg vom Boden ist und die Minen das Spiel nicht mitmachen.

[Streberleiche]

Beim POS sind wir mittlerweile wieder in einem Bereich, in dem nur die allerwenigsten reinen Silberminen profibal arbeiten. Das sollte einem weiteren Abverkauf im Wege stehen. Maximal noch kurz auf 15,20/15,00 USD und dann up, evtl. gleichzeitig mit einem POG von 1200 USD.

Das mit dem Abverkauf bei FR hätte man sich denken können. Wie hier schon geschrieben, haben erstaunlicherweise sämtliche "alten" Minen produktionsmäßig mies performed im Q2.

Die Planungen für das zweite Halbjahr sehen jedoch auch bei diesen Minen schon wieder etwas besser aus. Und letztendlich hat FR wegen San Dimas im Durchschnitt insgesamt recht niedrige Produktionskosten für 2018. 2019 wird SD dann das gesamte Jahr über laufen bzw. die volle Jahresproduktion ins Ergebnis liefern, insofern werden wir auch hier eine satte Produtionssteigerung bei noch niedrigeren Produktionskosten sehen.

Meiner Meinung nach ist FR nach dem heutigen starken Kursverlust und dem der letzten 1-2 Wochen von 25% mittlerweile eine Halteposition. Verkaufen werde ich keine Aktie mehr. Kaufen aber auch erst, sobald die Aktie nachhaltig zeigt, dass sie sich ausgekotzt hat.

[dogweiler]

First Majestic Silver Price Target Cut to $10.00/Share From $11.50 by H.C. Wainwright

First Majestic Silver Corp Price Target Cut to C$9.25/Share From C$9.75 by BMO Capital Markets