First Majestic Silver Corp. announced production results for the fourth quarter and full year of 2018. For the year, the company produced total production in 2018 reached 22.2 million equivalent ounces of silver, representing a 37% increase over 2017, and at the upper end of the Company's guidance of 20.5 to 22.6 million silver equivalent ounces. Total production consisted of 11.7 million ounces of silver, 111,084 ounces of gold, 16.1 million pounds of lead and 5.7 million pounds of zinc. Annual silver production was slightly below the company's guidance of 12.0 to 13.2 million ounces primarily due to lower than expected silver production at La Encantada in 2018.

For the quarter, the company's total production was 6,485,761 equivalent ounces of silver consisting of 3,250,816 ounces of silver, 34,487 ounces of gold, 3,294,360 pounds of lead and 1,466,812 pounds of zinc compared to 4,065,337 equivalent ounces of silver consisting of 2,337,463 ounces of silver, 17,344 ounces of gold, 4,271,970 pounds of lead and 1,289,031 pounds of zinc for the same period in last year.

The company provided production guidance for the year 2019. The company anticipates 2019 silver production will range between 14.2 to 15.8 million ounces with total production (including gold, lead and zinc by-products) between 24.7 to 27.5 million silver equivalent ounces. Based on the midpoint of the guidance range the company expects a 28% increase in silver production and an 18% increase in total production when compared to 2018. The increases are primarily due to having a full year of production from San Dimas, the start-up of the new roasting circuit at La Encantada offset by lower production at Del Toro and La Parrilla.