Month: May 2019

Mr. Carlos Silva, Chief Operating Officer, stated ‘The first quarter production results continue to reflect operational improvements that were undertaken in 2018 including increased mine development at both mines and a metallurgical review of the mill processing flowsheet at Veta Grande. In particular, we are very pleased with the significant improvement in zinc recovery at Veta Grande.’

“In the first quarter, higher silver production along with improved silver prices generated increased revenues, earnings and cash flows compared to the prior quarter,” stated Keith Neumeyer, President and CEO of First Majestic. “Strong gold production from our San Dimas and Santa Elena mines helped to record better than expected consolidated cash costs and AISC per ounce. Costs are expected to continue to trend lower in the second half of 2019 due to higher production levels at various operations including the commercialization of several cost saving projects which are expected to further increase margins and profitability. We continue to prudently manage the business in a very challenging silver price environment by balancing capital investments with expected cash flows and ensuring we maximize returns on invested capital.”

All director nominees were re?elected, other than Margaret M. Beck, who was nominated for election as a director of the Company for the first time. Godfrey Walton, a director of the Company since July 2002, did not seek re?election but will continue to serve as President and Chief Operating Officer of the Company.

La empresa canadiense Agnico Eagle Mines Limited informó que sus actividades de exploración minera en México están concentradas en sus propiedades Santa Gertrudis, La India, Pinos Altos y El Barqueno.

Jorge A. Ganoza, President and CEO, commented, “I am pleased to present our first Sustainability Report which provides us with the opportunity to highlight the commitment and actions that we are taking as a Company to conduct our mining operations in Peru and Mexico in an economically, socially, and environmentally responsible manner.” Mr. Ganoza added, “This report will provide us with a benchmark for monitoring our progress in the future.”

Our first quarter results reflect the challenging operating environment the industry has faced in recent months. Profitability has been impacted by lower steel pricing due to weaker economic activity and continued global overcapacity, as well as rising raw material costs as a result of supply-side developments in Brazil.

“Because of Greens Creek’s exceptional performance, Hecla’s first quarter was largely as expected, financially.” said Phillips S. Baker, Jr., Hecla’s President and CEO. “Greens Creek exceeded expectations for both gold and silver production due to higher grades and recoveries. However, Casa Berardi and our Nevada operations both produced less cash flow than expected.”

‘Our mines delivered solid results in the first quarter, despite soft precious metal prices, generating $61.4 millionin operating cash flow before interest, taxes and working capital changes,’ said Michael Steinmann, President and Chief Executive Officer. ‘After closing the Tahoe transaction in February, Pan American is now a larger, more diversified company with enhanced growth prospects. As we integrate these new assets into our portfolio, we are focused on capturing synergies and maintaining low-cost, efficient operations across the company.’

‘The drill results to date at Los Ricos have been some of the best in my career,’ stated Brad Langille, President and CEO. ‘The high grades and wide zones identified thus far are less than 150m from surface. Our team has reviewed thousands of historical documents dating back 100 years which has allowed us to develop high probability targets for drilling.’