First Majestic reports strong earnings in the amount of 26,4 My. $ in the first quarter 2012 - An increase of 10 % compared to first quarter 2011; Revenue from 57,8 My. $ - An increase of 5 % compared to first quarter 2011

First Majestic reports strong earnings in the amount of 26,4 My. $ in the first quarter 2012 - An increase of 10 % compared to first quarter 2011; Revenue from 57,8 My. $ - An increase of 5 % compared to first quarter 2011

VANCOUVER (BRITISH COLUMBIA), 10. More 2012. FIRST MAJESTIC SILVER CORP. (TSX: FR; NYSE: AG; FRANKFURT: FMV) ("First Majestic" or the "Company") is pleased, the preliminary unaudited condensed consolidated financial results and the company for the first quarter, on the 31. March 2012 came to an end, to announce. The full version of the financial statements and management discussion and analysis on the company's website at www.firstmajestic.com, found on SEDAR at www.sedar.com and EDGAR at www.sec.gov and.

HIGHLIGHTS OF THE FIRST QUARTER 2012

• Profit of 0,25 $ per share (Adjusted) - An increase of 5 % compared to first quarter 2011
• Cash flow from 0,35 $ per share (not in accordance with GAAP) - No change compared to the first quarter 2011
• Adjusted profit from 0,26 $ per share (not in accordance with GAAP) after deduction of losses not yet achieved Silver
• Gross revenue of 57,8 Million $ - An increase of 5 % compared to first quarter 2011
• Net profit after deduction of total 26,4 Million $ - An increase of 10 % compared to first quarter 2011
• earnings from the mining operation of 35,7 Million $
• Production costs totaling 29,24 $ per ton - a reduction of 3 % compared to first quarter 2011
• total investment costs of 8,96 $ per ounce - an increase of 8 % compared to first quarter 2011
• Increase in silver ounces produced in 1.826.803 - An increase of 3 % compared to first quarter 2011 (1.769.208)
• Cash and cash equivalents of 85,3 Million $, Working capital of 108,3 Million $
• Other than First Majestic had cash at the end of the quarter, 596.520 PSLV (Sprott Physical Silver Trust).

CHART OF THE HIGHLIGHTS OF THE FIRST QUARTER 2012

Keith Neumeyer, President und CEO von First Majestic, said: "The first quarter was another successful period for the company, that its growth targets are still achieved. Our capital strength to ensure the timely establishment of our mine Del Toro, where the first production scheduled for the fourth quarter of this year. In the coming weeks, in addition to an updated Preliminary Economic Assessment („PEA“) under NI 43-101 be published. "

"Although the cost of inflation in the mining industry continues to be a strong headwind, First Majestic's operations team contributed a great job in keeping the cost. In comparison shows that the total production costs by 3 % on industry-leading 29,24 $ be reduced per ton, while many similar companies cost increases of 25 to 50 % per ton recorded. First Majestic is located in terms of its production guidelines for the year 2012 continue to target, and management plans, additional guidelines regarding the acquisition of pretend Silvermex, as soon as the deal will be finalized in the coming months. "

FINANCIAL HIGHLIGHTS

• Im Quartal, on the 31. March 2012 came to an end, The company recorded revenues of 57,8 Million $ - An increase of 2,5 Million $ or. 5 % compared to first quarter 2011 (55,3 Million $), based on higher production costs.
• The profit from mining operations in the amount of 35,7 Million $ roughly corresponded to that of the first quarter 2011 (35,6 Million $).
• Net profit after tax amounted to three months, on 31. March 2012 came to an end, on 26,4 Million $ - An increase of 10 % compared to first quarter 2011 (23,9 Million $).
• Earnings per share amounted to three months, on 31. March 2012 came to an end, on 0,25 $ - An increase of 5 % compared to the three months, on 31. March 2011 came to an end (0,24 $).
• In this quarter, the company transformed the not yet generated losses of 4,2 Million $ associated with the excess inventory of 1 Million ounces of silver at a profit of 5,475 Million $. At the end of the first quarter, the Company recorded a stock of 500.000 Ounces at an average price of 34,063 $ auf pro Unze, on 31. March 2012 a market value of 32,484 $ and had not yet achieved a loss of 0,8 Million $ led.
• The net profit for the quarter, on the 31. March 2012 came to an end, reflects not yet achieved silver in losses 0,8 Million $ wider. Adjusted basic earnings per share (not in accordance with GAAP) after the deduction of losses not yet achieved Silver 0,26 $ for this quarter.
• In January 2012 the company acquired 757.500 Trust Units of Sprott Physical Silver Trust (PSLV) at a cost of 13,20 $ per unit (Total cost of 9.999.000 $). In the first quarter 2012 The company also sold 160.980 Trust units at an average price of 15,45 $ per unit (Total revenue from 2,5 Million $) and posted a profit of this sale 362.677 $. For 31. March 2012 There was a recognized, have not taken profit of 255.601 $ in connection with the remaining 596.520 Trust units, on 13,63 $ have been upgraded.
• The cash flow from operations before working capital movements of unbarem and income taxes increased in the first quarter 2012 on 37,1 Million (0,35 $ per share) - An increase of 6 % compared to first quarter 2011 (35,0 Million $; 0,35 $ per share).
• The investment costs per ounce (not in accordance with GAAP) expenses in the first quarter 2012 on 8,96 $ - An increase of 8 % compared to first quarter 2011 (8,26 $). The investment costs in the first quarter primarily due to lower grades and recoveries at the La Encantada mine higher. Since the installation of a new ball mill in mid-April were the recoveries due to an increased share of processed fresh ore increased.
• The production cost per ton amounted to 29,24 $ - A decrease of 3 % compared to first quarter 2011 (30,04 $), reflecting the lower production costs at the La Parrilla mine in connection with the production increase.
• The new Cyanidationskreislauf at the La Parrilla Silver Mine with a capacity of 1.000 tpd was by 1. March 2012 put into operation. The new parallel flotation- Cyanidationskreisläufe and with a capacity of 1.000 tpd (together 2.000 tpd), the old mill with a capacity of 850 tpd replaced, are now fully operational and in March 2012 having an average throughput of 1.850 operated tpd.

SUMMARY

First Majestic had another solid quarter, in which the profits and cash flow in part to an increase in overall production 2.007.219 Are attributable silver equivalent ounces - an increase of 10 % compared to first quarter 2011 (1.825.366 silver equivalent ounces produced). Silver production was in the first quarter 1.826.803 Silver ounces produced remains solid - an increase of 3 % compared to first quarter 2011 (1.769.208 ounces of silver produced).

At the 1. March 2012 was recently extended Oxidkreislauf with a capacity of 1.000 tpd taken at the La Parrilla Silver Mine in operation, which allowed an increase in production of silver dore bars. The second quarter 2012 is the first full quarter of his, in which both expand production cycles (1.000 tpd Flotation + 1.000 tpd Cyanidation) are in commercial operation. Consequently, the cash costs per ounce at the La Parrilla due to the increase in production to 2.000 tpd expected to decline, while the proportion of silver in the face Doré is compared to concentrates lower refining costs be higher.

The recent installation of the third ball mill at the La Encantada Silver Mine has a positive effect on the silver extraction rate. The third ball mill at 19. April 2012 taken with the aim of operating in, the recovery rates and the average maximum levels by increasing the production rate increase of fresh ore. Due to the Erzaufhaldung in recent months and the successful development of the mine's management decided, the proportion of the fresh ore from 1.500 on 1.800 increase tpd. In addition, further metallurgical tests performed, to evaluate the efficiency. The mill building in the vibrant corporate Del Toro Silver Mine is still on schedule; the first production for the fourth quarter 2012 provided.

First Majestic is a producing silver company, whose emphasis is on the silver production in Mexico and is consistently focused its business strategy to, through the development of its existing licenses and the purchase of additional raw material concessions to become a leading producer of silver to be and to achieve its growth targets.

FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release contains certain "forward-looking statements" or "forward-looking information" under the United States Private Securities Litigation Reform Act of 1995 or. applicable Canadian securities laws. The "accept" terms, "Believe", "Estimate", "Expect", "Anpeilen", "Plan", "Forecast", "May" and similar terms or expressions in this news release identify forward-looking statements or information. These forward-looking statements or information include, among other things,: the accuracy of mineral reserves- and mineral resource estimates; the estimated cost and timing of development of our development projects; the timing of completion of exploration programs and the creation of "technical reports"; the impact of laws, Rules or regulations on our operations, including, but not limited to, the laws in Mexico, currently provide significant constraints in the mining industry; obtaining the necessary licenses, Licenses and permits from the authorities; the continuous access to the necessary infrastructure, including, but not limited to, access to electricity, Land, Water and roads, perform the work as planned to.

These statements reflect the current views of the Company regarding future events and are necessarily based upon a number of assumptions and estimates, the considerable commercial, economic, political and social uncertainties and contingencies, even if you are deemed reasonable by the Company. Many known and unknown factors could cause, that could cause actual results, Performance or achievements to differ materially from the results, Performance or achievements, in such forward-looking statements or information expressly or implicitly expressed were. The assumptions and estimates of the company are based on numerous factors, or that correlate with the. Such factors include, but not limited to: Fluctuations in the price of silver, Gold, Base metals or certain other commodities (such as gas, Heating oil and electricity); Fluctuations in currency markets (such as the price of the Canadian dollar and Mexican peso against the U.S. Dollar); Changes in national or local government, Legislation and fiscal policy, on the political and economic developments in Canada and Mexico; operating or technical difficulties in connection with mining- or development work; Risks and hazards associated with mineral exploration, -development and acquisition (including environmental risks, Industrial accidents, unusual or unexpected developments, Subsidence or flooding); Risks related to the creditworthiness or financial condition of suppliers, Refinery companies and other parties, with which the company does business; the inability, take out appropriate insurance, to cover risks and hazards; Laws and regulations, could restrict mining operations, including those, that have just been introduced in Mexico; the relationship with employees; Relations with local communities and indigenous populations; availability and increased costs associated with the mining and working; the speculative nature of mineral exploration and development, including the risks, by the authorities with the necessary licenses, To obtain licenses and permits; declining quantities or grades of mineral reserves in the breakdown of concessions; the right of the company's concession areas; and factors, have been under "Risk Factors" identified in the Annual Information Form of the company in "Risks Relating to First Majestic's Business".

Investors are cautioned, that is based upon forward-looking statements or information should not be left unconditionally. The Company has attempted to, identify important factors, which may cause, cause actual results to differ materially. It can also lead to other factors, that the results not as expected, estimated or intended. The Company does not intend or. is not required, these forward-looking statements or information as to adapt, to reflect changed assumptions or circumstances or other events, have an influence on such statements or information, unless, called for in the relevant laws.

Contact Information:

First Majestic Silver Corp.
Toll-free: 1.866.529.2807

or

(604) 688-3033

(604) 639-8873 (FAX)

info@firstmajestic.com
www.firstmajestic.com

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