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Re: News Releases - Thursday, November 26, 2009
La Encantada Opening Ceremony & Production of First Silver
Precipitates
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First Majestic Silver Corp. is proud to announce that the new La
Encantada cyanidation plant was inaugurated in a ceremony on November
19, 2009 in which the Mexican Federal Authorities, represented by the
Lic. Ximena Valverde, 'Under Minister of Mines' (Coordinadora General
de Mineria) declared that the new plant is officially open.
This new plant has a total capacity of 3,500 tpd, with estimated annual
production exceeding four million ounces of silver for an investment of
under US$30 million.
Production is expected to reach 2,000 tpd by the end of November and
will be further increased to its 3,500 tpd capacity by year end. The
filter presses were opened during the ceremony for the first time and
represents the first silver precipitate production from this new plant.
The first shipments of silver precipitate to the smelter are planned
within a few weeks as commercially saleable quantities are accumulated.
The final components of the plant to be installed are the 'induction
furnaces' which will allow for melting of the precipitates into silver
dor� bars. The installation of these furnaces will be completed during
the first quarter of 2010.
Keith Neumeyer, President & CEO stated; "We are very pleased with the
opening of this new facility. The first production of precipitate
represents another major milestone in the growth of First Majestic. Our
Mexican construction team led by Ramon Davila, COO, should be
recognized for their hard work and tireless efforts and should be
congratulated for the completion of this very large project. We look
forward to the impact that this new facility will have to increased
commercial production of silver in the months and years to come."
First Majestic is one of North America's fastest growing silver
producers; its silver production is located in safe jurisdictions in
the Americas and remains 100% un-hedged.
First Majestic is a producing silver company focused in M�xico and is
aggressively pursuing its business plan to become a senior silver
producer through the development of its existing assets and the pursuit
through acquisition of additional assets that contribute to achieving
its corporate growth objectives.
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
This press release includes certain "Forward-Looking Statements" within
the meaning of section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of
historical fact, included herein, including without limitation,
statements regarding potential mineralization and reserves, exploration
results and future plans and objectives of First Majestic Silver Corp.
are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
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Copyright (c) 2009 FIRST MAJESTIC SILVER CORP. (TSX: FR) All rights
reserved. For more information visit our website at
http://www.firstmajestic.com/ or send mailto:investor@firstmajestic.com
Message sent on Thu Nov 26, 2009 at 7:00 AM Pacific Time
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First Majestic Silver Corp.
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PRODUCER |
CODE : FR.TO |
ISIN : CA32076R1029 |
CUSIP : 32076R1029 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
First Majestic is a silver producing company based in Canada. First Majestic produces silver, gold, lead and zinc in Mexico, and holds various exploration projects in Canada and in Mexico. Its main assets in production are LA PARRILLA SILVER MINE, LA ENCANTADA (FIRST MAJESTIC SILVER), SAN MARTIN and LA ENCANTADA SILVER MINE in Mexico and its main exploration properties are REAL DE CATORCE, DEL TORO and CUITABOCA in Mexico and PITT ISLAND, PINCOURT, DOMPIERRE and DESJARDINS in Canada. First Majestic is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.1 billions as of today (US$ 884.3 millions, € 774.7 millions). Its stock quote reached its lowest recent point on November 02, 2001 at CA$ 0.01, and its highest recent level on December 22, 2017 at CA$ 9.99. First Majestic has 164 340 000 shares outstanding. |