Day: April 19, 2018

“Over the last two years, our renewed capital investment program has generated positive changes to the business,” said Keith Neumeyer, President & CEO. “We are projecting a 15% increase is silver production in 2018, however, most of this increase will be realized in the second half of the year as the new roaster at La Encantada ramps up to commercial production. Furthermore, with the recent increase in reserve grades, head grades at the mills are expected to improve resulting in higher production and lower costs as the year develops.”

“We worked through challenges early in the quarter and had an excellent finish, exceeding our previously indicated projections,” stated Brendan Cahill, President and Chief Executive Officer. “During the quarter, we completed development to advance production into the next levels of the Pierna, Rodilla and 623 mantos. We are now realizing higher grades and have ample dry inventory to deliver improved production going forward. We also continue to mill lower-grade historical stockpiles, which lower our overall head grade, but deliver good cash flow.”