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VANCOUVER, April 6, 2015 /PRNewswire/ - FIRST
MAJESTIC SILVER CORP. (the "Company" or "First Majestic") is
pleased to announce the promotion of Mr. Martin Palacios to the newly created position of
Chief Transformation Officer (CTO). Since joining the Company in
January 2012 as the Chief Information
Officer (CIO), Mr. Palacios has played an integral part in
diagnosing the Company's information needs and crafted the
Company's mandate to ensure data integrity in what he defined as
the "mining data value chain".
This data chain concept consists on mapping, tracking and
aggregating key data from the mine planning process all the way to
finished goods and mineral sales. With this new mandate and focus,
Mr. Palacios installed and implemented numerous informational
systems where key data flows are digitally imported into SAP, which
is the center piece of the applications portfolio. Total
implementation time of SAP and most of its modules, which began in
January 2013, took 25 weeks to
complete. The applications implemented include: Enterprise Resource
Management - ERP (SAP), Production accounting and metallurgical
balance, Laboratory Information System - LIMS (Labware), Materials
Movement, Microsoft SharePoint - Document repository interaction,
QlikView - business intelligence platform, as well as lime-feed,
ore haulage and concentrate scale automated systems. Using QlikView
as the primary interface, the Company now has several information
dashboards covering the full spectrum of real-time data transacted
across the Company providing complete operational and financial
visibility at each of the five operating mines.
Other areas of focus going forward will include: the continued
improvement and use of SAP, materials management, mill automation,
equipment maintenance and the deployment of a mass internal
communication tool to connect and align all staff with a series of
kiosks installed at all operations.
Mr. Palacios, in collaboration with Company management,
initiated "Boots on the Ground", a vision of a new First Majestic,
conceptualized by Keith Neumeyer,
President and CEO, who believes that mining has to become as close
to a manufacturing business as possible. Manufacturing businesses
constantly look for small efficiencies in each process which should
show continuous improvement, which yield small and large cost
savings over time.
Mr. Neumeyer stated: "It is crucial to have someone focused on
change, as mining operations are demanding, particularly in today's
current environment. A transformational shift is required in the
mining industry which needs to be based on questioning everything,
innovating, improving, eliminating waste and ensuring the ounces
that we produce are profitable ounces. I see these turbulent times
as a golden opportunity to make hard decisions and bring on
transformational change that could be argued, should have happened
earlier, but which in reality was much harder to implement during
the previous cycle".
First Majestic is a mining company focused on silver production
in México and is aggressively pursuing the development of its
existing mineral property assets and the pursuit through
acquisition of additional mineral assets which contribute to the
Company achieving its corporate growth objectives.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President &
CEO
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain "Forward-Looking Statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target", "plan", "forecast",
"may", "schedule" and similar words or expressions, identify
forward-looking statements or information. These forward-looking
statements or information relate to, among other things: the price
of silver and other metals; the accuracy of mineral reserve and
resource estimates and estimates of future production and costs of
production at our properties; estimated production rates for silver
and other payable metals produced by us, the estimated cost of
development of our development projects; the effects of laws,
regulations and government policies on our operations, including,
without limitation, the laws in Mexico which currently have significant
restrictions related to mining; obtaining or maintaining necessary
permits, licences and approvals from government authorities; and
continued access to necessary infrastructure, including, without
limitation, access to power, land, water and roads to carry on
activities as planned.
These statements reflect the Company's current views with
respect to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results,
performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements or information and
the Company has made assumptions and estimates based on or related
to many of these factors. Such factors include, without limitation:
fluctuations in the spot and forward price of silver, gold, base
metals or certain other commodities (such as natural gas, fuel oil
and electricity); fluctuations in the currency markets (such as the
Canadian dollar and Mexican peso versus the U.S. dollar); changes
in national and local government, legislation, taxation, controls,
regulations and political or economic developments in Canada, Mexico; operating or technical difficulties in
connection with mining or development activities; risks and hazards
associated with the business of mineral exploration, development
and mining (including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins and
flooding); risks relating to the credit worthiness or financial
condition of suppliers, refiners and other parties with whom the
Company does business; inability to obtain adequate insurance to
cover risks and hazards; and the presence of laws and regulations
that may impose restrictions on mining, including those currently
enacted in Mexico; employee
relations; relationships with and claims by local communities and
indigenous populations; availability and increasing costs
associated with mining inputs and labour; the speculative nature of
mineral exploration and development, including the risks of
obtaining necessary licenses, permits and approvals from government
authorities; diminishing quantities or grades of mineral reserves
as properties are mined; the Company's title to properties; and the
factors identified under the caption "Risk Factors" in the
Company's Annual Information Form, under the caption "Risks
Relating to First Majestic's Business".
Investors are cautioned against attributing undue certainty to
forward-looking statements or information. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be anticipated, estimated or intended. The Company
does not intend, and does not assume any obligation, to update
these forward-looking statements or information to reflect changes
in assumptions or changes in circumstances or any other events
affecting such statements or information, other than as required by
applicable law.
SOURCE First Majestic Silver Corp.