First Majestic Silver Corp. announced production results for the fourth quarter and full year ended December 31, 2013. For the quarter total production reached 3,421,161 equivalent ounces of silver consisting of 2,746,598 ounces of silver, 3,519 ounces of gold, 8,355,889 pounds of lead and 1,698,745 pounds of zinc. The company's underground development in the fourth quarter consisted of 13,280 meters, a 22% increase compared to 10,923 meters completed in the previous quarter.

For the year, total production reached 12,791,527 equivalent ounces of silver, representing a 41% increase over 2012 and in line with previous production guidance estimates. The equivalent silver production for 2013 consisted of 10,641,465 ounces of silver, 10,040 ounces of gold, 26,904,093 pounds of lead and 8,509,097 pounds of zinc. Total underground development completed in 2013 amounted to 53,257 meters compared to 57,267 meters developed in 2012. The 2013 exploration program consisted of 58,578 meters of diamond drilling compared to 135,769 meters drilled in 2012.

The company also provided capital expenditure guidance for the year 2014. The company expects development sustaining capital to be between $2.89 Ag oz to $3.04 Ag oz, exploration sustaining capital to be between $0.58 Ag oz to $0.61 Ag oz, property, plant and equipment capital to be between $1.19 Ag oz to $1.25 Ag oz and all-in sustaining costs of $15.87 Ag oz to $16.69 Ag oz. The annual budget includes a total of $42.3 million to be spent towards plant, property and equipment, $55.7 million towards total development and $8.0 million in total exploration.