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Re: News Releases - Thursday, April 08, 2010
La Encantada Achieves Commercial Production
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First Majestic Silver Corp. (the "Company") is pleased to announce that
the Company's new 3,500 tpd cyanidation plant at its La Encantada
Silver Mine in Coahuila, Mexico has reached commercial production
effective April 1st, 2010.
The throughput since April 1st has averaged 2600 tpd while the average
throughput for the month of March was 1450 tpd. Full capacity at 3,500
tpd is expected to be reached in May 2010 resulting in production at an
annualized rate of over 4 million ounces of silver dor� bars per year.
The new plant is now 98% complete with the only item remaining being
the delivery and installation of the 'Induction Furnaces'.
The completion of this new world-class cyanidation plant is beginning
to have a significant impact on the Company's production growth. The
Company plans to release its first quarter production results on April
12, 2010.
This plant is currently producing silver precipitates which are being
shipped regularly to the smelter until the new induction furnaces are
installed later this quarter. Once these furnaces are operating, the
Company will be producing its own dor� bars which will further reduce
third party smelting and refining charges.
The last major items installed in the first quarter were the tailings
filter-presses which are allowing for the recirculation of 84% of the
water circulating in the system. These filters are some of the latest
mining technologies available resulting in First Majestic setting an
important standard for sustainable operational practices. The plant is
using much less water than originally expected and much less than a
traditional operation of this type. This state-of-art process is also
opening the possibility for immediate reclamation of permanent
rejuvenated open space.
The use of this filter press technology will play a central role in
achieving superior operational performance in the areas of water use,
cyanide use, land use and environmental impact. These three large,
heavy duty, 2m x 2m automatic filter presses are dewatering the
tailings to 16% moisture levels resulting in substantial savings in
pumping, cyanide consumption and power generation. Additionally, the
remaining tailings cake is being dry-stacked which eliminates the need
for conventional tailings ponds and promotes ongoing reclamation and
re-vegetation of the area.
Ongoing daily improvements are underway and being focused in the areas
of daily tonnage, recoveries, quality of precipitate production and
other plant optimizations.
Ramon Davila, Chief Operating Officer, stated; "To have a plant of this
size deemed commercial within five months of being inaugurated is an
impressive achievement and something our team deserves a lot of credit
for. These are exciting times for First Majestic".
In addition to the completion of the new cyanidation plant, the Company
also invested in improving the old flotation plant by installing
several new flotation cells and ancillary equipment. Improvements in
recoveries resulted immediately and will be evident in future
production and financial results going forward.
Keith Neumeyer, CEO & President stated; "As this major milestone comes
to its completion, this will result in our production of silver
exceeding 6 million ounces this year and we can now look forward to
other exciting challenges ahead. Congratulations should go out to all
of our management, staff and construction crew for their
professionalism and commitment to our growth strategy. This team is now
readying itself for our next stage of expansion. Stay tuned."
First Majestic is a producing silver company focused in Mexico 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 significant 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) 2010 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 Apr 8, 2010 at 7:39:19 AM Pacific Time
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VanEck Vectors Global Alternative Energy ETF
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PRODUCTEUR |
CODE : FR.TO |
ISIN : CA32076R1029 |
CUSIP : 32076R1029 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
First Majestic est une société de production minière d'argent basée au Canada. First Majestic est productrice d'argent, d'or, de plomb et de zinc au Mexique, et détient divers projets d'exploration au Canada et au Mexique. Ses principaux projets en production sont LA PARRILLA SILVER MINE, LA ENCANTADA (FIRST MAJESTIC SILVER), SAN MARTIN et LA ENCANTADA SILVER MINE au Mexique et ses principaux projets en exploration sont REAL DE CATORCE, DEL TORO et CUITABOCA au Mexique et PITT ISLAND, PINCOURT, DOMPIERRE et DESJARDINS au Canada. First Majestic est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 465,4 millions (340,6 millions US$, 313,9 millions €). La valeur de son action a atteint son plus bas niveau récent le 02 novembre 2001 à 0,01 , et son plus haut niveau récent le 17 mai 2024 à 9,99 . First Majestic possède 47 442 200 actions en circulation. |