Trio of Canadian miners report higher production

Wed Oct 10, 2012 9:53am EDT
 
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(Reuters) - Canada's First Majestic Silver Corp reported a 29 percent jump in quarterly silver production, setting a company record, while production at two other Canadian miners, Great Panther Silver Ltd and Brigus Gold Corp, rose as well.

First Majestic said total silver production at its mines in Mexico reached about 2.2 million ounces in the third quarter, crossing the 2 million threshold for the first time in a single quarter. The Vancouver-based company expects to reach the 3 million mark over the next several quarters as it steps up production.

Great Panther, another Vancouver-based silver miner, said silver production was up 8 percent at 371,857 ounces in the quarter, but it brought down its metal production forecast to 2.2 to 2.4 million equivalent silver ounces, from 2.5 to 2.75 million it had forecast earlier.

Halifax-based Brigus Gold Corp produced 19,526 ounces of gold in the third quarter, up 7 percent from the second quarter. The company also secured C$30 million in debt financing.

(Reporting By S. John Tilak)