Mexico-focused First Majestic Silver boosted its production by 15% in 2019 to 25.6-million silver-equivalent ounces (SEO). This was also at the top end of its 24.4-million to 26-million SEO guidance.
Silver production reached 13.2-million ounces, representing a 13% increase over 2018 and within the 2019 guidance range of producing 12.8-million to 13.5-million ounces.
First Majestic says its achieved record consolidated average silver recoveries of 86%, the highest in the company’s 17-year history.
The miner ended the year with a strong cash and cash equivalents balance of $169-million.