Silver Price: $22.90
NYSE: AG $9.52
TSX: FR $12.74
Frankfurt: FMV €8.29

First Majestic Reports Second Quarter Financial Results

August 3, 2017

VANCOUVER, British Columbia, Aug. 03, 2017 (GLOBE NEWSWIRE) -- FIRST MAJESTIC SILVER CORP. (NYSE:AG) (TSX:FR) (the "Company" or “First Majestic”) is pleased to announce the unaudited interim consolidated financial results of the Company for the second quarter ended June 30, 2017. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SED AR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

SECOND QUARTER 2017 HIGHLIGHTS
(compared to First Quarter 2017)

  • Silver equivalent production decreased 9% to 3.9 million ounces
  • Silver production decreased 16% to 2.3 million ounces
  • All-in sustaining costs (“AISC”) increased 19% to $14.58 per payable silver ounce
  • Revenues decreased 13% to $60.1 million
  • Realized average silver price decreased 2% to $17.17 per ounce
  • Mine operating earnings decreased 86% to $1.4 million
  • Cash flow per share was $0.11 per share (non-GAAP), a decrease of 32% from the prior quarter
  • Cash costs increased 11% to $7.41 per payable silver ounce (net of by-product credits)
  • Net earnings of $1.4 million (Basic EPS of $0.01)
  • Adjusted net loss, excluding non-cash and non-recurring items, totaled $3.6 million (Adjusted loss per share of $0.02)
  • Strong treasury with cash and cash equivalentstotaling $126.9 million at the end of the quarter

“Our second quarter results were unfortunately burdened by a number of labour issues which have since been resolved,” stated Keith Neumeyer, President and CEO of First Majestic. “While weaker revenues and cash flows were realized as a result of these work stoppages and a strengthening Mexican Peso, our treasury remained relatively unchanged at a very healthy $126.9 million. Due to this unexpected weakness in cash flows, as a conservative measure, management has decided to reduce capital expenditures by $17.5 million for the year. Our focus in the second half of 2017 remains to be the construction of the new roaster system at our La Encantada mine which is on schedule for commissioning in the first quarter of 2018 as well as the renewed investments in underground development which has been lacking over the past few years. This increase in underground development, which started in mid-2016, will have a direct impact on improving production, however, the positive impacts of these types of investments are generally delayed by 12 to 24 months.”

OPERATIONAL AND FINANCIAL HIGHLIGHTS

Key Performance Metrics   2017-Q2   2017-Q1 Change
Q2 vs Q1
  2016-Q2 Change
Q2 vs Q2
  2017-YTD  
Operational                      
Ore Processed / Tonnes Milled     691,833       822,336   (16 %)     798,182   (13 %)     1,514,170    
Silver Ounces Produced     2,287,188       2,708,978   (16 %)     2,844,930   (20 %)     4,996,166    
Silver Equivalent Ounces Produced     3,888,944       4,267,350   (9 %)     4,681,608   (17 %)     8,156,294    
Cash Costs per Ounce (1)   $ 7.41     $ 6.68   11 %   $ 6.41   16 %   $ 7.02    
All-in Sustaining Cost per Ounce (1)   $ 14.58     $ 12.21   19 %   $ 10.97   33 %   $ 13.30    
Total Production Cost per Tonne (1)   $ 51.53     $ 44.72   15 %   $ 44.97   15 %   $ 47.83    
Average Realized Silver Price per Ounce (1)   $ 17.17     $ 17.55   (2 %)   $ 17.01   1 %   $ 17.37    
Financial (in $millions)                      
Revenues   $ 60.1     $ 69.1   (13 %)   $ 66.1   (9 %)   $ 129.2    
Mine Operating Earnings (2)   $ 1.4     $ 10.0   (86 %)   $ 9.9   (86 %)   $ 11.4    
(Loss) Earnings before Income Taxes   ($6.7 )   $ 2.6   (358 %)   $ 9.2   (173 %)   ($4.1 )  
Net Earnings (Loss)   $ 1.4     $ 2.7   (48 %)   $ 6.1   (77 %)   $ 4.1    
Operating Cash Flows before
Working Capital and Taxes (2)
  $ 18.0     $ 26.6   (32 %)   $ 23.5   (23 %)   $ 44.6    
Cash and Cash Equivalents   $ 126.9     $ 127.6   (1 %)   $ 108.2   17 %   $ 126.9    
Working Capital (1)   $ 130.9     $ 136.8   (4 %)   $ 119.1   10 %   $ 130.9    
Shareholders                      
Earnings (Loss) per Share ("EPS") - Basic   $ 0.01     $ 0.02   (48 %)   $ 0.04   (78 %)   $ 0.03    
Adjusted EPS (1)   ($0.02 )   $ 0.02   (198 %)   $ 0.03   174 %   $ 0.00    
Cash Flow per Share (1)   $ 0.11     $ 0.16   (33 %)   $ 0.15   (26 %)   $ 0.27    

(1) The Company reports non-GAAP measures which include cash costs per ounce, all-in sustaining cost per ounce, total production cost per ounce, total production cost per tonne, average realized silver price per ounce, working capital, adjusted EPS and cash flow per share. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and may differ from methods used by other companies with similar descriptions.
(2) The Company reports additional GAAP measures which include mine operating earnings and operating cash flows before movements in working capital and income taxes. These additional financial measures are intended to provide additional information and do not have a standardized meaning prescribed by IFRS.

FINANCIAL REVIEW

The Company realized an average silver price of $17.17 per ounce during the second quarter of 2017, representing a 1% increase compared with the second quarter of 2016 and a 2% decrease compared to $17.55 in the prior quarter.

Revenues generated in the second quarter totaled $60.1 million, a decrease of 9% compared to the second quarter of 2016 primarily due to a 13% decrease in silver equivalent ounces sold, which resulted from lost production due to the illegal work stoppages at the La Encantada, La Parrilla and Santa Elena mines and lower grades due to the lack of investment in underground development over the past few years.

Mine operating earnings were $1.4 million in the quarter compared to $9.9 million in the second quarter of 2016. The decrease in mine operating earnings was primarily affected by lost revenue from the La Encantada illegal strike, where $1.4 million in standby costs continued to be incurred, and $0.2 million in severance costs that were paid out.

Cash flow from operations before movements in working capital and income taxes in the quarter was $18.0 million ($0.11 per share) compared to $23.5 million ($0.15 per share) in the second quarter of 2016. The decrease was primarily attributed to lower mine operating earnings impacted by the mine stoppages in the quarter.

The Company generated net earnings of $1.4 million (EPS of $0.01) in the second quarter compared net earnings of $6.1 million (EPS of $0.04) in the second quarter of 2016. The decrease of $4.7 million was primarily attributed to: 1) $8.5 million decrease in mine operating earnings as a result of mine stoppages; 2) $6.0 million decrease in investment and other income, mainly attributed to market price volatility on the Company's holdings in marketable securities; partially offset by 3) an income tax recovery of $8.1 million in the second quarter due to the impact of foreign exchange on deferred tax liabilities. Excluding all non-cash and non-recurring items, the Company generated an adjusted loss of $3.6 million (adjusted loss of $0.02 per share) during the quarter.

The Company maintains a strong treasury with $126.9 million in cash and cash equivalents at the end of the quarter, reflecting a 1% decrease compared to the prior quarter. The Company’s working capital position decreased 4% to $130.9 million compared to $136.8 million at the end of the prior quarter.

OPERATIONAL HIGHLIGHTS

The table below represents the quarterly operating and cost parameters at each of the Company’s six producing silver mines.

Second Quarter Production Summary   Santa Elena La Encantada La Parrilla Del Toro San Martin La Guitarra Consolidated
Ore Processed / Tonnes Milled     232,451       148,039       132,880     81,843       67,073       29,547       691,833  
Silver Ounces Produced     557,914       374,901       425,060     365,323       425,645       138,345       2,287,188  
Silver Equivalent Ounces Produced     1,399,940       375,563       593,852     712,714       577,598       229,276       3,888,944  
Cash Costs per Ounce   $ 2.86     $ 13.59     $ 11.15   $ 3.99     $ 5.43     $ 12.65     $ 7.41  
All-in Sustaining Cost per Ounce   $ 6.64     $ 17.95     $ 17.12   $ 7.93     $ 7.53     $ 19.51     $ 14.58  
Total Production Cost per Tonne   $ 54.44     $ 33.65     $ 44.54   $ 57.16     $ 69.37     $ 93.49     $ 51.53  

Production in the quarter totalled 3.9 million silver equivalent ounces consisting of 2.3 million ounces of silver, 15,186 ounces of gold, 7.6 million pounds of lead and 0.9 million pounds of zinc. Compared to the previous quarter, total production decreased by 9% primarily due to unusual efforts by unionized workers to illegally disrupt mining activities which caused labour issues, including minor stoppages at La Parrilla and Santa Elena, and a more serious stoppage at the La Encantada mine which lasted 42 days and contributed to a 47% or 333,396 silver equivalent ounce reduction in production at La Encantada. The leaders of the National Union and Confederation of Mexican Workers Union were both supportive of the corrective actions taken by the Company which are expected to lead to improvements in productivity at each of the operations in the coming quarters. The Company anticipates production at La Encantada will be back on track in the third quarter and will work to recuperate lost tonnage over the remainder of 2017.

COSTS AND CAPITAL EXPENDITURES

Cash cost per ounce in the quarter was $7.41, an increase of 11% or $0.73 per ounce compared to the previous quarter. The increase in cash cost per ounce was primarily due to the 16% decrease in silver production and a stronger Mexican peso which appreciated 11% against the U.S. dollars compared to the previous quarter.

AISC per ounce in the second quarter was $14.58, an increase of 19% or $2.37 per ounce compared to the previous quarter. The increase in AISC was primarily due to the 16% decrease in silver production and an increase in sustaining capital expenditures as the Company catches up with program targets for 2017 after a slower than expected initiation of exploration and development activities at the beginning of the year.

Total capital expenditures in the second quarter were $16.3 million, a decrease of 14% compared to the prior quarter, primarily consisting of $3.4 million at Santa Elena, $2.8 million at La Encantada, $3.3 million at La Parrilla, $1.7 million at Del Toro, $2.5 million at San Martin and $1.4 million at La Guitarra.  

OUTLOOK

The Company is updating its 2017 annual silver production guidance to be in the range of 10.0 million to 10.6 million ounces (or 15.7 million to 16.6 million silver equivalent ounces), compared to the previous guidance of 11.1 to 12.4 million ounces (or 16.6 to 18.5 million silver equivalent ounces). The 12% decrease in silver production is primarily due to lower head grades from slow initiation of underground development activities at the beginning of the year and lost production as a result of three illegal blockades in the second quarter which amounted to four days at La Parrilla, two days at Santa Elena and 42 days at La Encantada.

Annual cash cost is now expected to be within the range of $7.00 to $7.75 per ounce, compared to the previous guidance of $6.06 to $6.48 per ounce, primarily due to lower anticipated production levels, higher energy costs attributed to the Mexican government's oil and gas deregulation policies that came into effect in the first quarter of 2017, as well as strengthening of the Mexican pesos against the U.S. dollar.

The Company has also updated its capital budget for 2017 and has reduced capital investments by $17.5 million to $106.5 million consisting of $45.6 million for sustaining requirements and $60.9 million for expansionary projects. This represents a 14% decrease compared to the original 2017 capital budget of $124.0 million. The revised annual budget includes capital investments totaling $43.6 million to be spent on underground development, $36.9 million towards property, plant and equipment, $21.6 million in exploration and $4.3 million towards corporate automation and efficiency projects. Total capital expenditures in the first half of 2017 totalled $35.4 million, representing approximately 33% of the $106.5 million revised budget. The Company expects capital spending to increase in the second half of 2017 to catch up to program targets, with a majority of the investment focused on underground development, exploration and the completion of the roaster at La Encantada and the tailings filters at San Martin.

Furthermore, the Company is now expecting to complete a total of 64,500 metres of underground development in 2017, representing a 14% decrease compared the original budget of 74,850 metres. In addition, the Company is planning to complete a total of 145,000 metres of exploration drilling in 2017, representing a 21% decrease compared to the original budget of 183,000 metres. The Company completed 28,692 metres of development and 58,070 exploration metres in the first half of 2017, representing 44% and 40%, respectively, of the revised budget.

A mine-by-mine breakdown of the revised 2017 production guidance is included in the table below. Cash cost and AISC guidance is shown per payable silver ounce. Metal price and foreign currency assumptions for calculating silver equivalent ounces were updated to: silver: $17.00/oz, gold: $1,250/oz, lead: $1.00/lb, zinc: $1.25/lb, MXN:USD 18:1, compared to previous assumptions of: silver: $16.50/oz, gold: $1,200/oz, lead: $1.00/lb, zinc: $1.20/lb, MXN:USD 20:1.

Mine   Silver Oz (M) Silver Eqv Oz (M) Cash Costs ($) AISC ($)
Santa Elena   2.2 - 2.3 5.2 - 5.5 2.58 - 2.85 6.23 - 6.71
La Encantada   2.3 - 2.5 2.3 - 2.5 11.06 - 12.23 14.68 - 16.07
La Parrilla   1.8 - 1.9 2.5 - 2.7 9.36 - 10.35 14.37 - 15.65
Del Toro   1.3 - 1.4 2.5 - 2.7 3.33 - 3.68 9.32 - 10.00
San Martin   1.7 - 1.8 2.2 - 2.3 6.04 - 6.68 9.46 - 10.29
La Guitarra   0.6 - 0.7 0.9 - 1.0 10.83 - 11.97 19.64 - 21.28
Consolidated   10.0 - 10.6 15.7 - 16.6 $7.00 - $7.75 $14.40 - $15.50

*Certain amounts shown may not add exactly to the total amount due to rounding differences.
*Consolidated AISC includes general and administrative cost estimates and non-cash costs of $2.67 to $2.83 per payable silver ounce.

The Company is projecting its 2017 AISC, as defined by the World Gold Council ("WGC"), to be within a range of $14.40 to $15.50 consolidated on a per payable silver ounce basis, compared to the previous guidance of $11.96 to $12.88. An itemized AISC cost table is provided below:

All-In Sustaining Cost Calculation   FY 2017 ($/oz)
Total Cash Costs per Payable Silver Ounce (1)   7.00 - 7.75
Workers Participation Costs   0.24 - 0.26
General and Administrative Costs   1.75 - 1.85
Sustaining Development Costs   1.93 - 2.04
Sustaining Property, Plant and Equipment Costs   2.25 - 2.29
Sustaining Exploration Costs   0.31 - 0.33
Share-based Payments (non-cash)   0.83 - 0.88
Accretion of Reclamation Costs (non-cash)   0.09 - 0.10
All-In Sustaining Costs: (WGC definition)   $14.40 - $15.50
All-In Sustaining Costs: (WGC excluding non-cash items)   $13.48 - $14.52

1. The cash cost per payable silver ounce includes estimated royalties and 0.5% mining environmental fee of $0.12 per ounce. 

CONFERENCE CALL

The Company will be holding a conference call and webcast on Friday, August 4, 2017 at 10 am PDT (1 pm EDT). 

To participate in the conference call, please dial the following:

Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791

Participants should dial in 10 minutes prior to the conference.

Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call will be posted at www.firstmajestic.com.

The conference call will be recorded and you can listen to an archive of the conference by calling:

Canada & USA Toll Free:     1-800-319-6413
Outside Canada & USA:     1-604-638-9010
Access Code:     1572 followed by the # sign

The replay will be available approximately one hour after the conference and will available for 7 days following the conference.  The replay will also be available on the Company’s website for one month.

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 10.0 to 10.6 million ounces of pure silver or 15.7 to 16.6 million ounces of silver equivalents in 2017.

FOR FURTHER INFORMATION contact info@firstmajestic.com, 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

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral reserve and resource estimates and estimates of future production and costs of production at our properties; estimated production rates for silver and other payable metals produced by us, the estimated cost of development of our development projects; the effects of laws, regulations and government policies on our operations, including, without limitation, the laws in Mexico which currently have significant restrictions related to mining; obtaining or maintaining necessary permits, licences and approvals from government authorities; and continued access to necessary infrastructure, including, without limitation, access to power, land, water and roads to carry on activities as planned.

These statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada, Mexico; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properties are mined; the Company’s title to properties; and the factors identified under the caption “Risk Factors” in the Company’s Annual Information Form, under the caption “Risks Relating to First Majestic's Business”.

Investors are cautioned against attributing undue certainty to forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

September 25, 2020
First Majestic Provides SAT Tax Dispute Update
September 21, 2020
First Majestic Announces Filing of Early Warning Report for Acquisition of Shares of Silver Dollar Resources Inc.
September 17, 2020
First Majestic Announces Closing of CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
September 10, 2020
First Majestic Announces CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
September 1, 2020
First Majestic Publishes ESG and Sustainability Report
August 6, 2020
First Majestic Reports Second Quarter Financial Results
July 15, 2020
First Majestic Produces 3.5 Million Silver Equivalent Ounces from Partial Operations in Second Quarter; Updates 2020 Guidance & Announces Conference Call Details
July 2, 2020
First Majestic Completes Acquisition of Springpole Silver Stream
June 11, 2020
First Majestic Acquires Silver Stream on First Mining’s Springpole Project
June 10, 2020
First Majestic Announces Voting Results from Annual General Meeting and Appointment of New Director
May 14, 2020
First Majestic Reports First Quarter Financial Results; Temporarily Postpones the Sale of Silver and Gold Due to COVID-19; Announces Operational Restart Procedures
May 13, 2020
First Majestic Initiates NAFTA Arbitration Process Against Mexico for Violating International Law
April 14, 2020
First Majestic Produces 6.2 Million Silver Equivalent Ounces in First Quarter
April 3, 2020
First Majestic Provides Update on Operations in Response to COVID-19
March 30, 2020
First Majestic Updates 2019 Mineral Reserve and Resource Estimates
March 27, 2020
First Majestic Acquires Shares in GR Silver - Early Warning
March 18, 2020
First Majestic Renews Share Repurchase Program
February 24, 2020
First Majestic Announces High-Grade Drill Results from its 2019 Exploration Program at the Ermitaño project within the Santa Elena land package
February 19, 2020
First Majestic Announces Financial Results for Q4 and Year End 2019
February 3, 2020
First Majestic Announces New Chief Operating Officer
January 21, 2020
First Majestic Announces 2020 Production and Cost Guidance
January 15, 2020
First Majestic Produces 6.2M Ounces in Q4 and Record 25.6M Ounces in 2019; Announces New Director & Conference Call Details
November 7, 2019
First Majestic Reports Third Quarter Financial Results
October 15, 2019
First Majestic Produces 6.6 Million Silver Equivalent Ounces in Third Quarter
August 7, 2019
First Majestic Reports Second Quarter Financial Results and Updates 2019 Production and Cost Guidance
July 15, 2019
First Majestic Produces 6.4 Million Silver Equivalent Ounces in Second Quarter; Provides Conference Call Details
May 24, 2019
First Majestic Announces Voting Results from Annual General Meeting and Management Changes
May 9, 2019
First Majestic Reports First Quarter Financial Results
May 1, 2019
First Majestic First Quarter Financial Results to be Released on May 9
April 16, 2019
First Majestic Produces 6.3 Million Silver Equivalent Ounces in First Quarter
March 29, 2019
First Majestic Updates 2018 Mineral Reserve and Resource Estimates
March 19, 2019
First Majestic Renews Share Repurchase Program
February 25, 2019
First Majestic Announces High-Grade Drill Results from 2018 Exploration Program at the Ermitaño Silver/Gold Project; Permitting Status Update
February 25, 2019
First Majestic Announces Financial Results for Q4 and Year End 2018
January 14, 2019
First Majestic Produces a Record 22.2M Silver Eqv. Oz in 2018; Announces Higher 2019 Production Outlook & Conference Call Details
December 27, 2018
First Majestic Silver Corp. Announces At-The-Market Offering Equity Program
November 7, 2018
First Majestic Reports Third Quarter Financial Results
November 6, 2018
First Majestic Announces Updated Release Date for Third Quarter Financial Results
October 15, 2018
First Majestic Files Preliminary Base Shelf Prospectus
October 15, 2018
First Majestic Produces a Record 6.7 Million Silver Equivalent Ounces in Third Quarter
September 10, 2018
First Majestic and Evrim Resources Agree to Exercise of Ermitaño and Cumobabi Option Agreements
August 13, 2018
First Majestic Reports Second Quarter Financial Results
July 16, 2018
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
May 25, 2018
First Majestic Announces Voting Results from Annual General Meeting
May 10, 2018
First Majestic Announces New Stream Agreement at San Dimas Mine and New Credit Facility
May 10, 2018
First Majestic Completes Acquisition of Primero
May 9, 2018
First Majestic Announces Amendments to Advance Notice Policy
May 9, 2018
First Majestic Reports First Quarter Financial Results
May 9, 2018
Primero Announces Receipt of Mexican Antitrust Clearance for Arrangement With First Majestic and Files First Quarter Financial Statements on SEDAR
April 19, 2018
First Majestic Produces 3.9M Silver Eqv. Oz in First Quarter
March 29, 2018
First Majestic Updates Mineral Reserve and Resource Estimates for 2017 and Files Form 40-F Annual Report
March 19, 2018
First Majestic Renews Share Repurchase Program
March 13, 2018
Primero Announces Shareholders Vote In Favour Of Transaction With First Majestic
February 28, 2018
First Majestic Announces Financial Results for Q4 and Year End 2017
February 15, 2018
First Majestic announces Exercise and Closing of Over-Allotment Option
January 29, 2018
First Majestic Completes US$150 Million Convertible Senior Notes Offering
January 25, 2018
First Majestic Prices Offering of Convertible Senior Notes
January 24, 2018
First Majestic Launches Offering of Convertible Senior Notes
January 16, 2018
First Majestic Produces 16.2M Silver Eqv. Oz in 2017 (4.1M Silver Eqv. Oz in Q4); Announces 2018 Production Outlook and Cost Guidance
January 12, 2018
First Majestic Silver Announces Friendly Acquisition of Primero Mining and Restructured Stream with Wheaton Precious Metals
January 9, 2018
First Majestic Provides Review of 2017 Exploration Program and Plans for 2018
December 20, 2017
First Majestic files updated NI 43-101 technical reports on its Del Toro, La Parrilla and San Martin Silver Mines
November 2, 2017
First Majestic Reports Third Quarter Financial Results
October 17, 2017
First Majestic Produces 4.0M Silver Eqv. Oz in Third Quarter
October 3, 2017
First Majestic Reports Accident at La Encantada
August 3, 2017
First Majestic Reports Second Quarter Financial Results
July 11, 2017
First Majestic Produces 3.9M Silver Eqv. Oz in Second Quarter
June 2, 2017
First Majestic to Resume Operations at La Encantada
May 26, 2017
First Majestic Announces Voting Results from Annual General Meeting
May 24, 2017
First Majestic Announce illegal Blockade at La Encantada
May 4, 2017
First Majestic Reports First Quarter Financial Results
April 20, 2017
First Majestic Produces 4.3M Silver Eqv. Oz in First Quarter
March 31, 2017
First Majestic Updates Mineral Reserve and Resource Estimates for YE2016 and Files Form 40-F Annual Report
March 16, 2017
First Majestic Renews Share Repurchase Program
February 28, 2017
First Majestic Appoints New COO and New Member to Board of Directors
February 22, 2017
First Majestic Announces Financial Results for Q4 and Year End 2016
January 17, 2017
First Majestic Produces a Record 18.7M Silver Eqv. Oz in 2016 (4.4M Silver Eqv. Oz in Q4); Announces 2017 Production Outlook and Cost Guidance
November 9, 2016
First Majestic Reports Third Quarter Financial Results
October 27, 2016
Third Quarter Financial Results to be Released on November 9
October 13, 2016
First Majestic Achieves New Record in Silver Production; Produces 4.5 Million Silver Eqv. Ounces in Third Quarter
September 15, 2016
First Majestic Announces Resignation of Ramon Davila From Board of Directors
August 10, 2016
First Majestic Reports Second Quarter Financial Results
July 25, 2016
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 10
July 12, 2016
First Majestic Produces 4.7 Million Silver Eqv. Ounces in Second Quarter
May 27, 2016
First Majestic Announces Election of Directors
May 16, 2016
First Majestic Silver Corp. Changes Annual General Meeting Time
May 12, 2016
First Majestic Silver Corp. Announces Closing of C$50 Million Bought Deal Financing; Over-Allotment Option Fully Exercised
May 10, 2016
First Majestic Reports First Quarter Financial Results
May 5, 2016
First Majestic Revises Date of First Quarter Financial Results to May 10
April 25, 2016
First Majestic Silver Corp.: First Quarter Financial Results to be Released on May 11
April 22, 2016
First Majestic Silver Corp. Announces C$50 Million Bought Deal Financing
April 14, 2016
First Majestic Produces a Record 5.1 Million Silver Eqv. Ounces in First Quarter
March 31, 2016
First Majestic Updates Mineral Reserve and Resource Estimates for Year End 2015 and Files Form 40-F Annual Report
March 28, 2016
First Majestic Silver Corp. Announces Updated La Encantada NI 43-101 Technical Report
March 14, 2016
First Majestic Renews Share Repurchase Program
February 25, 2016
First Majestic Announces Financial Results for Q4 and Year End 2015
February 11, 2016
Fourth Quarter and Year End Financial Results to Be Released on February 25, 2016
February 11, 2016
First Majestic Secures $60 Million Credit Facility
January 19, 2016
First Majestic Produces 16.1M Silver Eqv. Oz in 2015 (4.8M Silver Eqv. Oz in Q4); Announces 2016 Production Outlook and Cost Guidance
November 16, 2015
First Majestic Reports Third Quarter Financial Results
October 14, 2015
First Majestic Produces 3.6 Million Silver Eqv. Ounces in Q3'15
October 1, 2015
First Majestic Completes Acquisition of SilverCrest
September 25, 2015
First Majestic and Silvercrest Announce Shareholder Approval of Plan of Arrangement
September 15, 2015
Leading Independent Advisory Firms ISS and Glass Lewis Recommend that SilverCrest and First Majestic Shareholders Vote FOR the Plan of Arrangement
August 27, 2015
First Majestic and SilverCrest Announce Receipt of Interim Order and Mailing of Meeting Materials
August 11, 2015
First Majestic Reports Second Quarter Financial Results and La Encantada Operational Update
July 30, 2015
First Majestic Silver: Second Quarter Financial Results to Be Released on August 11
July 27, 2015
First Majestic Announces Friendly Acquisition of SilverCrest Mines
July 9, 2015
First Majestic Produces 3.8 Million Silver Eqv. Ounces in Q2'15
May 22, 2015
First Majestic Announces Election of Directors
May 7, 2015
First Majestic Reports First Quarter Financial Results
April 23, 2015
First Quarter Financial Results to be Released on May 7
April 22, 2015
First Majestic Silver Corp. Announces Closing of C$30 Million Bought Deal Financing
April 13, 2015
First Majestic Produces 3.9 Million Silver Eqv. Ounces in Q1'15
April 13, 2015
First Majestic Produces 3.9 Million Silver Eqv. Ounces in Q1'15
April 6, 2015
First Majestic Announces Promotion of Martin Palacios to Chief Transformation Officer
April 6, 2015
First Majestic Announces Acquisition of Shares of First Mining Corp.
April 5, 2015
First Majestic Silver Corp. Announces C$30 Million Bought Deal Financing
March 31, 2015
Announces New La Guitarra NI 43-101 Technical Report
March 11, 2015
First Majestic Renews Share Repurchase Program
February 23, 2015
First Majestic Announces Financial Results for Q4 and Year End 2014
February 2, 2015
Fourth Quarter and Year End Financial Results to be Released on February 23, 2015
January 13, 2015
First Majestic Produces a Record 4.2M Silver Eqv. Oz in Q4 and Annual Record of 15.3M Silver Eqv. Oz in 2014; Announces 2015 Production Outlook and Cost Guidance
December 1, 2014
Supreme Court of Canada Dismisses Appeal Application by Hector Davila Santos
November 12, 2014
First Majestic Reports Third Quarter Financial Results
November 6, 2014
Conference Call Scheduled on November 12, 2014
October 31, 2014
Third Quarter Financial Results to be Released on November 12, 2014
October 14, 2014
Produces 3.5 Million Silver Eqv. Ounces in Q3; Postpones the Sale of 934K Silver Ounces of Inventory
August 22, 2014
First Majestic to List on the Mexican Stock Exchange
August 13, 2014
First Majestic Reports Second Quarter Financial Results
July 21, 2014
Second Quarter Financial Results to be Released on August 13, 2014
July 14, 2014
New Record of 3.86 million Silver Eqv. Ounces Produced in Q2; Announces Spin-out of Non-Core Exploration Properties
June 9, 2014
First Majestic Wins Application to Dismiss Appeal
May 29, 2014
First Majestic Announces Election of Directors
May 13, 2014
First Majestic Reports First Quarter Financial Results
May 1, 2014
First Quarter Financial Results to be Released on May 13
May 1, 2014
First Quarter Financial Results to be Released on May 13
April 15, 2014
First Majestic Announces US$30M Forward Sale Contract on Lead Production
April 8, 2014
First Majestic's Q1 Production Reaches New Record of 3.63 million Silver Equivalent Ounces
April 4, 2014
First Majestic Appoints VP of Technical Services
March 27, 2014
First Majestic Updates Reserves and Resource Estimates and Files Form 40-F Annual Report
March 10, 2014
First Majestic Announces Extension of Share Repurchase Program
March 3, 2014
First Majestic Announces Changes to Operations and Geological Teams
February 26, 2014
First Majestic Announces Financial Results for Q4 and Year End 2013
February 3, 2014
Fourth Quarter and Year End Financial Results to be Released on February 26, 2014
January 14, 2014
First Majestic becomes a Senior Silver Producer; Produces 10.64M Ounces of Silver in 2013; Projects 12.70M to 13.35M Ounces of Silver in 2014
December 23, 2013
First Majestic Announces Retirement of Robert Young from Board of Directors
December 4, 2013
Silver Doré Production Commences at the Del Toro Silver Mine
November 12, 2013
First Majestic Reports Third Quarter Financial Results
October 30, 2013
Third Quarter Financial Results to be Released on November 12th
October 24, 2013
Appeal Against First Majestic Dismissed
October 16, 2013
First Majestic Produces a New Record of 3.37 million Silver Equivalent Ounces
September 30, 2013
First Majestic Applies to Dismiss Appeal of Positive Judgment for US$93.84 million
August 13, 2013
First Majestic Reports Second Quarter Financial Results
July 15, 2013
Second Quarter Financial Results to be Released on August 13th
July 10, 2013
First Majestic Produces a New Quarterly Record of 3.27 Million Silver Eqv. Ounces
July 2, 2013
Payment of CDN$14.85 million Received in Court Litigation
May 28, 2013
Updated San Martin NI 43-101 Technical Report and Economic Assessment
May 24, 2013
First Majestic Announces Election of Directors
May 15, 2013
First Majestic Reports First Quarter Earnings of $26.5 million on Revenues of $67.1 million
May 7, 2013
First Quarter Financial Results to be Released on May 15th
May 2, 2013
First Majestic Announces Completion of La Guitarra's Expansion to 500 tpd
April 26, 2013
First Majestic Receives Positive Judgment for US$89.6 in Court Litigation
April 17, 2013
First Majestic Earns Socially Responsible Business Distinction Award for Fifth Consecutive Year
April 15, 2013
First Majestic Produces Another Quarterly Record 2.73 Million Silver Eqv. Ounces
April 9, 2013
First Majestic Silver: Del Toro Silver Mine Flotation Circuit Deemed Commercial
March 28, 2013
First Majestic Files Form 40-F Annual Report
March 11, 2013
First Majestic Announces Share Repurchase Program
February 26, 2013
First Majestic Announces Financial Results for Q4 and Year End 2012
February 20, 2013
First Majestic Silver to Announce Fourth Quarter and Year End 2012 Financial Results
February 19, 2013
First Majestic Elects Not to Exercise Right to Match Coeur's Offer for Orko
February 14, 2013
First Majestic Considering Superior Offer from Coeur to Acquire Orko Silver
January 25, 2013
First Majestic Silver Corp.: Production Commences at the Del Toro Silver Mine
January 9, 2013
First Majestic Silver Corp.: Achieved Record Production of 2.6M Silver Eqv. Ounces (2.3M Silver Ounces) in Q4; Produced a Record 9.1M Silver Eqv. Ounces (8.3M Silver Ounces) in 2012
January 2, 2013
First Majestic Appoints VP of Operations
December 19, 2012
First Majestic Announces US$50M Forward Sale Contract on Base Metals
December 16, 2012
First Majestic Announces Friendly Acquisition of Orko Silver
November 14, 2012
First Majestic Earns $24.9M in Third Quarter; Revenues of $63.6M, an Increase of 4%
November 7, 2012
First Majestic Silver Corp.: Third Quarter Financial Results to Be Released on November 14th
October 10, 2012
First Majestic Produces a Record 2.44 Million Silver Equivalent Ounces in Third Quarter
August 27, 2012
First Majestic Announces Appointment of VP of Exploration
August 21, 2012
First Majestic Silver Corp.: Updated Del Toro NI 43-101 Technical Report & Final Permit Received
August 16, 2012
First Majestic Recognized as a Leader in Corporate Social Responsibility
August 14, 2012
First Majestic Reports Second Quarter Financial Results
August 7, 2012
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 14th
July 17, 2012
First Majestic Produces 2.1 Million Silver Equivalent Ounces in Second Quarter
July 3, 2012
First Majestic Completes Acquisition of Silvermex Resources
June 26, 2012
Silvermex Securityholders Approve Plan of Arrangement With First Majestic
May 22, 2012
First Majestic Silver Corp.: Del Toro NI 43-101 Technical Report & Pre-Feasibility Study
May 10, 2012
First Majestic Reports Strong Earnings of $26.4M in Q1 2012, Up 10% Compared With Q1 2011; Revenues Top $57.8M, Up 5% From Q1 2011
April 16, 2012
First Majestic Silver Corp.: First Quarter Production Results and Full Commencement of Commercial Production at La Parrilla
April 3, 2012
First Majestic Announces Friendly Acquisition of Silvermex Resources
March 30, 2012
First Majestic Files Form 40-F Annual Report
March 5, 2012
First Majestic Announces New Record Earnings & Cash Flows for 2011
February 24, 2012
First Majestic Silver to Announce Fourth Quarter and Year End 2011 Financial Results
January 24, 2012
First Majestic Silver Corp.-La Parrilla Mill Expansion to 2,000 tpd Completed: Del Toro Construction Update
January 12, 2012
First Majestic Silver Corp. Achieved Record Production of 1.96M Silver Ounces (2.1M Silver Eqv. Ounces) in Q4; Produced a Record 7.6M Silver Eqv. Ounces in 2011
January 4, 2012
First Majestic Appoints Chief Information Officer
December 30, 2011
First Majestic Names Douglas Penrose as Chairman
November 9, 2011
First Majestic Silver Corp.: Earnings Hit $27.8 Million in Third Quarter
October 26, 2011
First Majestic Silver Corp.: Third Quarter Financial Results to be Released on November 9th
October 12, 2011
First Majestic Announces Q3 Production Results and Commences Commercial Production at La Parrilla
October 7, 2011
First Majestic Silver Corp.: Third Quarter Production Results to Be Released on October 12, 2011-Conference Call Scheduled
September 20, 2011
First Majestic Silver Corp.: First Stage of Expansion at the La Parrilla Processing Plant Completed
September 13, 2011
First Majestic Silver Corp.: Mill Capacity at La Parrilla to Reach 2,000 tpd Following Positive NI 43-101 Pre-Feasibility Study
August 11, 2011
First Majestic Silver Corp.: Record Earnings of $30.6 million in Second Quarter
August 3, 2011
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 11th
July 7, 2011
First Majestic Silver Corp.: Another Record Quarter of Silver Production
May 16, 2011
First Majestic Earns a Record $23.9 Million in First Quarter of 2011
April 7, 2011
First Majestic Silver Corp.: Silver Production Up 25%; Reaches 97% Pure Silver and Maintains Status as "Purest Silver Company in the World"
March 31, 2011
First Majestic Files Form 40-F Annual Report
March 31, 2011
First Majestic Silver Corp.: Update on the Del Toro Silver Mine
February 28, 2011
First Majestic Silver Corp.: 2010 Audited Financial Results Show Record Earnings & Cash Flows; A Breakout Year for First Majestic
January 11, 2011
First Majestic Silver Corp.: Production Up 72% to 6.53 Million oz Ag in 2010; Exceeds Guidance by 9%
December 13, 2010
First Majestic to List on the New York Stock Exchange
December 6, 2010
First Majestic Silver Corp.: La Parrilla Expansion to 1,600 Tonnes Per Day
November 10, 2010
First Majestic Acquires Surface Rights, Royalties and Infrastructure at Real De Catorce Silver Project
November 9, 2010
First Majestic Silver Corp.: Another Record Quarter of Earnings and Cash Flows
October 6, 2010
First Majestic Silver Corp.: Another New Record for Silver Production; 1,823,370 oz Silver Produced in Q3
August 16, 2010
First Majestic Silver Corp.: Record Earnings and Cash Flows. Purest Silver Producer With 93% of Revenue From Silver Production
July 8, 2010
First Majestic Silver Corp.: New Record for Silver Production; Produces 1,538,798 oz Silver
May 13, 2010
First Majestic Silver Corp.: First Quarter Marks 5th Consecutive Quarter of Net Income
April 22, 2010
First Majestic Silver Corp.: 2nd Year Running for Mexican Distinction as a "Socially Responsible Business"
April 13, 2010
First Majestic Silver Corp.: Conference Call to discuss First Quarter Silver Production and Year End Financial Results
April 12, 2010
First Majestic Silver Corp.: Production Increases by 30% to 1,619,403 Equivalent Ounces Silver
April 8, 2010
First Majestic Silver Corp.: La Encantada Achieves Commercial Production
March 24, 2010
First Majestic Silver Corp.: Conference Call to Discuss First Quarter Silver Production and Year End Financial Results
March 22, 2010
First Majestic Silver Corp.: Year End & Fourth Quarter Financial Results
January 11, 2010
First Majestic Silver Corp.: Production Increases by 18%, Reaches New Record
November 26, 2009
First Majestic Silver Corp.: La Encantada Opening Ceremony & Production of First Silver Precipitates
November 13, 2009
First Majestic Completes Acquisition of Normabec Mining Resources; Normabec Spins Out Brionor Resources Inc.
November 12, 2009
First Majestic Silver Corp.: Record Third Quarter Financial Results
November 6, 2009
Normabec Shareholders Approve Plan Of Arrangement With First Majestic
October 13, 2009
First Majestic Silver Corp.: La Encantada Expansion Nearing Completion
October 6, 2009
First Majestic Silver Corp.: Third Quarter Production Results
September 18, 2009
First Majestic Silver Corp.: Settlement of Current Liabilities Closes
September 16, 2009
First Majestic Silver Corp.: Second Tranche of Non-Brokered Private Placement Closes
September 14, 2009
First Majestic to Acquire Normabec Mining Resources
August 20, 2009
First Majestic Silver Corp.: First Tranche of Non-Brokered Private Placement Closes
August 13, 2009
First Majestic Silver Joins OTCQX
August 12, 2009
First Majestic Silver Corp.: Non-Brokered Private Placement and Debt Settlement
July 20, 2009
Second Quarter Production Results
July 16, 2009
Update of Litigation
May 14, 2009
First Majestic Silver Corp.: First Quarter Financial Results
April 27, 2009
First Majestic Silver Corp.: Silver Production Increases 4% in 1st Quarter
March 31, 2009
2008 Year End Financial Results
March 23, 2009
First Majestic Receives Mexican Distinction as a "Socially Responsible Business"
March 17, 2009
First Majestic Silver Corp.: La Parrilla Receives "Clean Industry Certification"
March 5, 2009
First Majestic Silver Corp.: Closing of $21.2 Million Offering
February 26, 2009
First Majestic Silver Corp.: Resource Disclosure Clarification
February 19, 2009
First Majestic Announces Pricing of Offering
February 18, 2009
First Majestic Announces C$25 Million Offering
February 17, 2009
First Majestic Silver Corp.: La Parrilla Silver Mine Updates NI 43-101 Resource
January 20, 2009
First Majestic Silver Corp.: San Martin Updated NI 43-101 Report Increasing Reserves/Resources by 45.81%
January 13, 2009
First Majestic Silver Corp.: Production Increases 27% in 4th Quarter
December 23, 2008
First Majestic Silver Corp.: La Encantada Updated NI 43-101 Report Increasing Reserves By 183%
November 19, 2008
First Majestic Silver Corp.: Operations Update
November 14, 2008
First Majestic Silver Corp.: Third Quarter Financial Results
October 28, 2008
First Majestic Silver Corp.: Another Major Intersection at Del Toro Silver Mine, Drill Hole Cuts 62.05 Metres (203.58 ft) of 422 g/t Ag, 6.29% Pb, 6.78% Zn & 0.74 g/t Au
October 23, 2008
First Majestic Silver Corp.: 3rd Quarter Production Results
October 10, 2008
First Majestic Silver Corp.: Del Toro Silver Mine NI 43-101 Resources of 57 Million Ag eqv. Ounces
September 11, 2008
First Majestic Silver Corp.: Many Positive Developments Underway
August 15, 2008
First Majestic Silver Corp.: Second Quarter Financial Results
July 17, 2008
First Majestic Silver Corp.: Major Intersection at San Juan Silver Mine; Drill Hole Intersects 74.20 Metres (243 ft) of 359 g/t Ag, 7.07% Pb & 7.60% Zn
July 15, 2008
First Majestic Silver Corp.: 2nd Quarter Production Shows Continued Ramp-Up
June 10, 2008
First Majestic Silver Corp.: Major Expansion Launched at La Encantada Silver Mine
May 16, 2008
First Majestic Silver Corp.: Record First Quarter Financial Results
April 29, 2008
First Majestic Silver Corp.: 1st Quarter Production Results
April 22, 2008
First Majestic Silver Corp.: Commissioning of Flotation Circuit at the San Martin Silver Mine
April 17, 2008
First Majestic Silver Corp.: 2007 Year End Financial Results
April 4, 2008
First Majestic Silver Corp.: Exercise and Closing of Over-Allotment Option
April 1, 2008
First Majestic Silver Corp.: Discovery of New High Grade Ore Shoot on the Vacas Vein at the La Parrilla Silver Mine
March 25, 2008
First Majestic Silver Corp.: Closing of $45,475,000 Offering
March 5, 2008
First Majestic Silver Corp.: Drill Intersects 39.6 Metres of 199 g/t Ag, 3.92% Pb & 4.02% Zn at San Juan Silver Mine
January 30, 2008
La Parrilla Silver Mine Update and New NI 43-101 Resource
January 17, 2008
Another Record Quarter of Silver Production
January 14, 2008
Toronto Stock Exchange Listing
December 13, 2007
TSX Conditional Approval
December 3, 2007
Update on the Chalchihuites Group of Properties
November 29, 2007
Highlights from 3rd Quarter Financial Statements
November 13, 2007
Update on the Cuitaboca Silver Project
October 23, 2007
Another Record Quarter of Silver Production
August 30, 2007
Highlights from 2nd Quarter Financial Statements
July 26, 2007
Second Quarter Silver Production Increases
July 4, 2007
La Parrilla Silver Mine Update and New NI 43-101 Resource
June 18, 2007
La Encantada Silver Mine Update and new NI 43-101 Resource
May 31, 2007
Highlights from 1st Quarter Financial Statements
May 28, 2007
San Martin Silver Mine Update and new NI 43-101 Resource
May 10, 2007
Closing of $34,415,000 Private Placement
April 28, 2007
Silver Production increases by 38%
April 20, 2007
Financing Amended
March 28, 2007
First Majestic Files Preliminary Short Form Prospectus

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