Thursday, October 9, 2025

Latest

First Majestic Sees Q2 Production Decline Following Jerritt Canyon Closure

First Majestic Silver (TSX: FR) has seen silver equivalent ounces produced decline by 17% in the second quarter of 2023 versus that of the first quarter.

The decline in silver equivalent production is a result of gold ounces produced declining 26% to 45,022 ounces, a result of the halting of production at Jerritt Canyon. Silver production meanwhile improved 4% on a quarter over quarter basis, with 2,633,411 ounces produced.

Consolidated cash costs per silver equivalent ounce came in at $15.58, while all-in sustaining costs amounted to $21.52 per ounce. The average realized price per equivalent ounce meanwhile came in at $24.95.

READ: First Majestic Suspends Mining At Jerritt Canyon Gold Mine

Revenues for the three month period ended June 30 totaled out at $146.7 million, which represents a decline of 7% from the first quarter. Mine operating earnings meanwhile came in at $1.1 million, with the company posting an overall net loss of $17.5 million for the three month period.

Cash and cash equivalents as of quarter ended amounted to $306.3 million, of which $146.1 million is restricted cash. The company also announced a cash dividend of $0.0051 per common share for shareholders of record as of August 16, 2023.

First Majestic last traded at $7.94 on the TSX.


The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Five Major U.S. Banks Face Billions in Losses as Surging Silver Prices Pressure Short Sellers

Silver prices have spiked significantly in October, climbing nearly 8% this month to exceed $33.60...
Sunday, October 27, 2024, 07:46:00 AM

First Majestic Silver Sees $106 Million In Revenue In Q1

First Majestic Silver (TSX: FR) has released its unaudited condensed interim consolidated financial results for...

Wednesday, May 8, 2024, 10:40:00 AM

First Majestic Silver Produces 7.3 Million Silver Equivalent Ounces In Q3 2021

First Majestic Silver Corp. (TSX: FR) provided this morning the production results for Q3 2021....

Tuesday, October 12, 2021, 10:42:00 AM

Eric Sprott Invests $78 Million In First Majestic Silver

Eric Sprott is evidently a fan of First Majestic Silver (TSX: FR) (NYSE: AG), with...

Thursday, September 10, 2020, 04:53:03 PM

First Majestic Hits 8.15 g/t Gold, 427 g/t Silver Over 4.78 Metres True Width In New High Grade Discovery At Santa Elena

First Majestic Silver (TSX: AG) has made its largest discovery since 2016 at its Santa...
Wednesday, July 31, 2024, 09:14:00 AM