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First Majestic Silver: Target not ambitious - it's realistic!

10.11.2011 09:32

"We are expecting 10 million ounces production in 2012. That is with the increase from La Parrilla, a little bit of increase from La Encantada and Del Toro will be contributing some ounces by the end of the year", says First Majestic Silver-CEO Keith Neumeyer. Although an analysts calls Neumeyer's goal ambitions, the manager trusts in the growth of his company.

First Majestic Silver is doing great. The company has been growing for thirteen consecutive quarters. "We will produce eight million ounces this year and ten million in 2014", CEO Keith Neumeyer says at the International Precious Metals & Commodities Show in Munich. Especially in times of crisis people see precious metals as a form of a safe haven.
First Majestic silver owns three operating mines, which have been expanded every year. In La Parrilla the company started almost from cratch in 2004. Back then the mine was running 180 times a day - by now it's 2.000 times. The company expects to produce about thre millionen ounces a year there.
The mine in Del Toro is planned to be the largest mine of the company in 2014. First Majestic broke ground in April. By 2014 the mine will be producing about six millionen ounces.

Looking for the German version of the interview? Click here

Aktie: First Majestic Silver , ETFS MET.SEC.DZ07/UN.XAG,
Redaktion: Christine Völkel

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