<SEC-DOCUMENT>0001628280-21-005616.txt : 20210325
<SEC-HEADER>0001628280-21-005616.hdr.sgml : 20210325
<ACCEPTANCE-DATETIME>20210325160342
ACCESSION NUMBER:		0001628280-21-005616
CONFORMED SUBMISSION TYPE:	6-K/A
PUBLIC DOCUMENT COUNT:		18
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20210325
DATE AS OF CHANGE:		20210325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MAJESTIC SILVER CORP
		CENTRAL INDEX KEY:			0001308648
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34984
		FILM NUMBER:		21772305

	BUSINESS ADDRESS:	
		STREET 1:		925 WEST GEORGIA STREET
		STREET 2:		SUITE 1800
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L2
		BUSINESS PHONE:		604-688-3033

	MAIL ADDRESS:	
		STREET 1:		925 WEST GEORGIA STREET
		STREET 2:		SUITE 1800
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST MAJESTIC RESOURCE CORP
		DATE OF NAME CHANGE:	20041115
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K/A
<SEQUENCE>1
<FILENAME>ag-2020q4x6ka.htm
<DESCRIPTION>6-K/A
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="ia13d18db089e405c8e06ce5a5c41644b_1"></div><div style="min-height:63pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Washington, D.C. 20549</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%">FORM 6-K&#47;A</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the month of February 2021 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commission File Number </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">001-34984</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%;text-decoration:underline">FIRST MAJESTIC SILVER CORP.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Translation of registrant's name into English)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">925 West Georgia Street, Suite 1800, Vancouver BC V6C 3L2</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Address of principal executive offices)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#91; &#93; Form 20-F &#160;&#160;&#91;x&#93; Form 40-F</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)&#58; &#91; &#93;</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)&#58; &#91; &#93;</font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><img alt="image0b311.gif" src="image0b311.gif" style="height:160px;margin-bottom:5pt;vertical-align:text-bottom;width:240px"></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">EXPLANATORY NOTE</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">First Majestic Silver Corp. is filing this Form 6-K&#47;A in order to replace Exhibit 99.1 to its Report on Form 6-K initially filed on February 18, 2021 (the &#8220;Original Filing&#8221;), in order to correct certain typographical errors contained in the Audited Consolidated Financial Statements for the Years Ended December 31, 2020 and 2019. Specifically, the corrections are changes to the Consolidated Statements of Financial Position and Note 4 to correct arithmetical errors for the 2019 total assets and total liabilities and Note 23(a) to correct typographical errors to the tabular number of shares issued and tabular net proceeds from the Company&#8217;s ATM Program during the year ended December 31, 2019. No other changes have been made to the Original Filing, including its exhibits. Other than as expressly set forth herein, this Form 6-K&#47;A does not, and does not purport to, amend, update, or restate the information in any item of the Original Filing or reflect any events that have occurred after the Original Filing was filed.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">DOCUMENTS INCORPORATED BY REFERENCE</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exhibits 99.1 and 99.2 to this Report on Form 6-K&#47;A are hereby incorporated by reference as Exhibits to the Registration Statement on Form F-10 of First Majestic Silver Corp. (File No. 333-251338).</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">DOCUMENTS FILED AS PART OF THIS FORM 6-K&#47;A</font></div><div style="margin-bottom:8pt;margin-top:8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Exhibits</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:4.610%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:92.458%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2020q4fsxex991.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.1</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="ag-2020q4fsxex991.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Audited Consolidated Financial Statements for the Years Ended December 31, 2020 and 2019, as amend</a><a href="ag-2020q4fsxex991.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">ed</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2020q4mdaxex992.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.2*</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="ag-2020q4mdaxex992.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Management's Discussion and Analysis for the Year and Quarter Ended December 31, 2020</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2020q4ceoxex993.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.3*</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="ag-2020q4ceoxex993.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Certification of Annual Filings - CEO</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2020q4cfoxex994.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.4*</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="ag-2020q4cfoxex994.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Certification of Annual Filings - CFO</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2020q4nrxex995.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.5*</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="ag-2020q4nrxex995.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">News Release dated February 18, 2021</a></font></div></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">*Previously filed</font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</font></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:36.967%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:60.833%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FIRST MAJESTIC SILVER CORP.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#47;s&#47; Connie Lillico</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Connie Lillico</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Corporate Secretary</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 25, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr></table></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ag-2020q4fsxex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_1487"></div><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><img alt="image52a.gif" src="image52a.gif" style="height:213px;margin-bottom:5pt;vertical-align:text-bottom;width:320px"></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">First Majestic Silver Corp.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Amendment to Audited Consolidated Financial Statements</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The attached Audited Consolidated Financial Statements of First Majestic Silver Corp. for the years ended December 31, 2020 and 2019 have been amended to correct typographical errors for certain 2019 comparative numbers. Specifically, the corrections are changes to the Consolidated Statements of Financial Position and Note 4 to correct arithmetical errors for the 2019 total assets and total liabilities and Note 23(a) to correct typographical errors to the tabular number of shares issued and tabular net proceeds from the Company&#8217;s ATM Program during the year ended December 31, 2019. No other changes have been made to the financial statements, management's discussion and analysis or reports of the independent registered public accounting firm filed on SEDAR on February 18, 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">This notice does not form a part of the Audited Consolidated Financial Statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">March 25, 2021</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_1"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:13pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:8pt;text-align:center"><img alt="image52a.gif" src="image52a.gif" style="height:186px;margin-bottom:5pt;vertical-align:text-bottom;width:280px"></div><div style="margin-bottom:13pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:15pt;font-weight:700;line-height:120%"> CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">FOR THE YEARS ENDED DECEMBER&#160;31, 2020 AND 2019 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_7"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><img alt="image52a.gif" src="image52a.gif" style="height:213px;margin-bottom:5pt;vertical-align:text-bottom;width:320px"></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:120%">Management&#8217;s Responsibilities over Financial Reporting</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements of First Majestic Silver Corp. (the &#8220;Company&#8221;) are the responsibility of the Company&#8217;s management. The consolidated financial statements are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board and reflect management&#8217;s best estimates and judgment based on information currently available.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management has developed and maintains a system of internal controls to ensure that the Company&#8217;s assets are safeguarded, transactions are authorized and properly recorded, and financial information is reliable.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors is responsible for ensuring management fulfills its responsibilities. The Audit Committee reviews the results of the audit and the annual consolidated financial statements prior to their submission to the Board of Directors for approval.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements have been audited by Deloitte LLP and their report outlines the scope of their examination and gives their opinion on the consolidated financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.040%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:33.404%"></td><td style="width:0.1%"></td></tr><tr style="height:66pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image61.jpg" src="image61.jpg" style="height:81px;margin-bottom:5pt;vertical-align:text-bottom;width:132px"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div><img alt="image71a.jpg" src="image71a.jpg" style="height:81px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Keith Neumeyer</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Raymond Polman, CA</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">President &#38; CEO</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Financial Officer</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 18, 2021</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 18, 2021</font></td></tr></table></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_10"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">To the shareholders and the Board of Directors of First Majestic Silver Corp.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Opinion on the Financial Statements</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We have audited the accompanying consolidated statements of financial position of First Majestic Silver Corp. and subsidiaries (the &#34;Company&#34;) as of December 31, 2020 and 2019, the related consolidated statements of earnings (loss), comprehensive income (loss), changes in equity and cash flows for each of the two years in the period ended December 31, 2020, and the related notes (collectively referred to as the &#34;financial statements&#34;). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2020 and 2019, and its financial performance and its cash flows for each of the two years in the period ended December 31, 2020, in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2020, based on criteria established in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Internal Control &#8212; Integrated Framework (2013)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 18, 2021, expressed an unqualified opinion on the Company's internal control over financial reporting.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Basis for Opinion</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Critical Audit Matters</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The critical audit matter communicated below is a matter arising from the current-period audit of the financial statements that was communicated or required to be communicated to the audit committee and that (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">Primero Tax Rulings &#8212; Refer to Note 26 to the financial statements</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Critical Audit Matter Description </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company has an ongoing dispute with the Mexican Tax Authorities, the Servicio de Administracion Tributaria (&#8220;SAT&#8221;). The dispute relates to the determination of the transfer price, which is based upon an Advanced Pricing Agreement (&#34;APA&#34;) from the SAT, applied to intercompany silver sales in connection with a silver streaming arrangement with an unrelated third party. In 2020, the Mexican Federal Court on Administrative Matters issued a decision nullifying the APA and directing the SAT to re-examine the evidence and basis for the issuance of the APA&#59; the Company has appealed this decision to the Mexican Circuit Courts. As a result of the tax dispute with the SAT, should the Company ultimately be required to pay tax on its intercompany silver revenues based on market prices, the incremental income tax for the years 2010 - 2018 would be approximately $219.2 million, before interest and penalties, without any mitigating adjustments. The Company has not recognized a tax liability related to the Primero tax dispute with the SAT.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The evaluation of the accounting and the disclosure of the matter requires significant management judgment to determine the probability of having to pay incremental income tax. Auditing the accounting and the disclosures related to the tax matter required a high degree of auditor judgment due to the significant judgment by management and evaluating whether the audit evidence supports management&#8217;s position. This resulted in an increased extent of audit effort, including the involvement of tax specialists.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">How the Critical Audit Matter Was Addressed in the Audit </font></div><div><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Our audit procedures relating to the evaluation of the accounting and disclosure related to the tax matter included the following, among others&#58;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%;padding-left:13.02pt">Inquired of management to understand the developments of the tax dispute&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%;padding-left:13.02pt">Evaluated the effectiveness of management&#8217;s controls over the evaluation of the appropriateness of income tax filing positions and corresponding disclosures in the financial statements&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%;padding-left:13.02pt">Obtained and evaluated management&#8217;s assessment of the dispute, including analysis from the Company&#8217;s external counsel&#59; </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%;padding-left:13.02pt">With the assistance of tax specialists, analyzed the Company&#8217;s accounting position related to the tax dispute&#59; and</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%;padding-left:13.02pt">Evaluated the Company&#8217;s disclosures for consistency with our knowledge of the Company&#8217;s tax matters and audit evidence obtained.</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#47;s&#47; Deloitte LLP</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:115%;position:relative;top:-3.5pt;vertical-align:baseline"> </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Chartered Professional Accountants</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Vancouver, Canada</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">February&#160;18, 2021 </font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We have served as the Company's auditor since 2005.</font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;margin-top:10pt"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">To the shareholders and the Board of Directors of First Majestic Silver Corp.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Opinion on Internal Control over Financial Reporting</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We have audited the internal control over financial reporting of First Majestic Silver Corp. and subsidiaries (the &#8220;Company&#8221;) as of December 31, 2020, based on criteria established in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Internal Control &#8212; Integrated Framework (2013)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2020, based on criteria established in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Internal Control &#8212; Integrated Framework (2013)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> issued by COSO.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated financial statements as of and for the year ended December 31, 2020, of the Company and our report dated February 18, 2021, expressed  an unqualified opinion on those financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Basis for Opinion</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company&#8217;s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management&#8217;s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company&#8217;s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Definition and Limitations of Internal Control over Financial Reporting</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company&#59; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company&#59; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#47;s&#47; Deloitte LLP</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Chartered Professional Accountants </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Vancouver, Canada</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">February 18, 2021</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_13"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">TABLE OF CONTENTS</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.723%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:91.151%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.726%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CONSOLIDATED FINANCIAL STATEMENTS</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#006ebf;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_19" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Statements of Earnings (Loss)  </a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_19" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">1</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#006ebf;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Statements of Comprehensive Income (Loss) </a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">2</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Statements of Cash Flows</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">3</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Statements of Financial Position</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_31" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Statements of Changes in Equity</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_31" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">5</a></font></div></td></tr><tr><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">General</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_37" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 1.  Nature of Operations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_37" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 2.  Basis of Presentation</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_43" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 3.  Significant Accounting Policies, Estimates and Judgments</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_49" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Earnings (Loss)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 4.  Segmented Information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_61" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 5.  Revenues</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_61" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_64" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 6.  Cost of Sales</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_64" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_67" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 7.  General and Administrative Expenses</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_67" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 8.  Mine Holding Costs</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 9.  Investment and Other Income (Loss)</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 10.  Finance Costs</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 11.  Earnings or Loss per Share</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Financial Position</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_85" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 12.  Inventories</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_85" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 13.  Other Financial Assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">26</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 14.  Mining Interests</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">27</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 15.  Property, Plant and Equipment</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">30</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_97" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 16.  Right-of-Use Assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_97" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">32</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_100" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 17.  Impairment of Non-Current Assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_100" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">32</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_103" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 18.  Trade and Other Payables</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_103" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">33</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 19.  Debt Facilities</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">34</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 20.  Lease Liabilities</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">36</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 21.  Decommissioning Liabilities</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">37</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 22.  Income Taxes</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">38</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 23.  Share Capital</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">40</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other items</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 24.  Financial Instruments and Related Risk Management</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">43</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_127" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 25.  Supplemental Cash Flow Information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_127" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">48</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_130" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 26.  Contingencies and Other Matters</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_130" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">48</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_133" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 27.  Subsidiaries and Associates</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_133" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">50</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_136" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 28.  Key Management Compensation</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_136" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">51</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_139" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 29.  Subsequent Events</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_139" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">51</a></font></div></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_16"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) </font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE YEARS ENDED DECEMBER 31, 2020 and 2019</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audited Consolidated Financial Statements</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars, except share and per share amounts)</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_19"></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Consolidated Statements of Earnings (Loss) provide a summary of the Company&#8217;s financial performance and net earnings or loss over the reporting periods.</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.601%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.623%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_61" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">5</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,876</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,944</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_64" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">194,305&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">232,146&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales - standby costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_64" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,112&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,405&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,584&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">258,822</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">297,730</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating earnings</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">105,054</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">66,214</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_67" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">7</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,855&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,800&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,325&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine holding costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_70" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">8</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,583&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,579&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Loss on divestiture of exploration projects</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,685&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impairment of non-current assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_100" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">17</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,739&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange loss (gain)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,243)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating earnings (loss)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">40,357</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(31,986)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value adjustment on foreign currency derivatives</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(982)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment and other income</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_73" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">9</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,127&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,109&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_76" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">10</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,773)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(15,147)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">29,729</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(39,024)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">taxes</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax expense </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,966&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,423&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax recovery</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,324)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,973)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,642&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,450&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$23,087</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($40,474)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per common share</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160; &#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basic</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_79" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">11</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.11</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.20)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160; &#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Diluted</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_79" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">11</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.11</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.20)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">average</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">shares</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">outstanding</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160; &#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basic</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_79" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">11</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">213,879,622</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">201,615,489</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160; &#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Diluted</font></div></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_79" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">11</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">215,878,829</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">201,615,489</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Approved by the Board of Directors</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:36.381%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.383%"></td><td style="width:0.1%"></td></tr><tr style="height:51pt"><td colspan="3" style="padding:0 1pt"><div style="text-align:center"><img alt="image61.jpg" src="image61.jpg" style="height:62px;margin-bottom:5pt;vertical-align:text-bottom;width:102px"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center"><img alt="esignaturedpa261a.jpg" src="esignaturedpa261a.jpg" style="height:54px;margin-bottom:5pt;vertical-align:text-bottom;width:149px"></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Keith Neumeyer, Director</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Douglas Penrose, Director</font></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual  Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 1</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_22"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) </font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE YEARS ENDED DECEMBER 31, 2020 and 2019</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audited Consolidated Financial Statements</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars)</font></td></tr></table></div><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Consolidated Statements of Comprehensive Income (Loss) provide a summary of total comprehensive earnings or loss and summarizes items recorded in other comprehensive income that may or may not be subsequently reclassified to profit or loss depending on future events.</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:64.835%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.063%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.623%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$23,087</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($40,474)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other comprehensive income </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Items&#160;that&#160;will not be subsequently reclassified to net earnings (loss)&#58; </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unrealized gain (loss) on fair value of investments in marketable securities, net of tax</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13(b)</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,249&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(255)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Realized gain on investments in marketable securities, net of tax</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13(b)</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">211&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">572&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurement of retirement benefit plan</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(515)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other comprehensive income </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,945&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">317&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total comprehensive income (loss)</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$33,032</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($40,157)</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual  Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 2</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_25"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONSOLIDATED STATEMENTS OF CASH FLOWS</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE YEARS ENDED DECEMBER 31, 2020 and 2019</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audited Consolidated Financial Statements </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars)</font></td></tr></table></div><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Consolidated Statements of Cash Flows provide a summary of movements in cash and cash equivalents during the reporting periods by classifying them as operating, investing or financing activities.</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.736%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.502%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.453%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Activities</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net earnings (loss) for the year</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$23,087&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($40,474)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments for&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56,283&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">67,220&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,325&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,642&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,450&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_76" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">10</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,773&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,147&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on divestiture of exploration projects</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">14</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,894&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fair value adjustment on foreign currency derivatives</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">982&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment of non-current assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_100" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">17</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58,739&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized gains from marketable securities and silver futures derivatives</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,051)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,765)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized foreign exchange (gain) loss </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,522)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">273&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">flows</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">before</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">movements</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">in</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">working</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">capital and taxes</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">107,343</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">108,915</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net change in non-cash working capital items</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_127" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(22,831)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">37,327&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income taxes paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,799)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,217)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash generated</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">by</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">operating</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">activities</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">79,713</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">140,025</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Investing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Activities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenditures on mining interests</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(68,647)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(76,983)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisition of property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(43,322)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(41,625)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deposits paid for acquisition of non-current assets    </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13,846)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,748)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisition of Springpole Silver Stream</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">14(c)</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,521)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_127" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,221&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,422&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">used</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">in</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">investing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">activities</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(127,115)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(116,934)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Activities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from prospectus offerings, net of share issue costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">23(a)</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">126,132&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">81,916&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from exercise of stock options</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,011&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,663&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Repayment of lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,706)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,213)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Finance costs paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,200)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,686)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from debt facility</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">19</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,000&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Repayment of debt facility</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">19</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(19,969)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Shares repurchased and cancelled</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">23(e)</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,694)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">provided by financing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">activities</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">116,574</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">87,680</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Effect of exchange rate on cash and cash equivalents held in foreign currencies</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">397&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,225&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Increase in cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">69,172</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">110,771</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents, beginning of the year</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">169,009&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">57,013&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash and cash equivalents, end of year</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$238,578</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$169,009</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$207,132&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$161,268&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term investments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,446&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,741&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash and cash equivalents, end of year</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$238,578</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$169,009</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Supplemental</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">flow</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">information</font></div></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_127" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual  Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 3</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_28"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">AS AT DECEMBER 31, 2020 AND 2019</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audited Consolidated Financial Statements </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars)</font></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Consolidated Statements of Financial Position provides a summary of assets, liabilities and equity, as well as their current versus non-current nature, as at the reporting date.</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.625%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.747%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.882%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.886%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2019</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$238,578&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$169,009&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,271&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,295&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Value added taxes receivable</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24(c)</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,641&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,637&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inventories</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_85" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">12</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,512&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,517&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,488&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepaid expenses and other</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,725&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,033&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">356,046</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">242,979</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mining interests</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">509,730&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">463,391&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_94" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">15</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">258,220&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">236,639&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Right-of-use assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_97" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">16</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,330&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,034&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deposits on non-current assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,246&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,189&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current income taxes receivable</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,579&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current value added taxes receivable</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24(c)</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,301&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69,644&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51,141&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,237,517</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,012,952</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Liabilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equity</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_103" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">18</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$76,002&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$59,123&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unearned revenue</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_61" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">5</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,717&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,486&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of debt facilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">19</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,975&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,175&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,358&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,920&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income taxes payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,574&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">149&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">101,626</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">71,853</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">19</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">141,733&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">154,643&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,217&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,016&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Decommissioning liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51,471&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,528&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,406&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,675&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current income taxes payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,099&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48,729&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">63,916&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$387,281</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$350,631</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share capital</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,087,139&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">933,182&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity reserves</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101,997&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">90,692&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accumulated deficit</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(338,900)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(361,553)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">equity</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$850,236</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$662,321</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">liabilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">equity</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,237,517</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,012,952</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Commitments (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#59; Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(c))&#59; Subsequent event (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_139" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">29</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual  Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 4</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_31"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE YEARS ENDED DECEMBER 31 2020 AND 2019</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audited Consolidated Financial Statements</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars, except share and per share amounts)</font></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Consolidated Statements of Changes in Equity summarizes movements in equity, including common shares, share capital, equity reserves and retained earnings or accumulated deficit.</font></div><div><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:25.879%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.257%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.257%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.257%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.724%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.257%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.257%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.263%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;Share Capital</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;Equity Reserves</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><br>Accumulated deficit</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;Shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;Amount </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Share-based payments</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(a)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Other comprehensive income(loss)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(b) </font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Equity component of convertible debenture</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(c)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total equity reserves</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;Total equity</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Balance at December 31, 2018</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">193,873,335</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$827,622</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$71,715</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($2,849)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$19,164</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$88,030</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($321,079)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$594,573</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net loss for the year</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(40,474)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(40,474)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other comprehensive income</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">317&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">317&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">317&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total comprehensive loss</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">317</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">317</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(40,474)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(40,157)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares issued for&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Prospectus offerings (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(a))</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11,172,982&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">81,916&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">81,916&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Exercise of stock options (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(b))</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,918,518&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">22,649&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(5,986)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(5,986)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">16,663&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Settlement of restricted share units </font></div><div style="padding-left:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(c))</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">145,576&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">988&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(988)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(988)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares cancelled</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,661&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Balance at December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">208,112,072</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$933,182</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$74,060</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($2,532)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$19,164</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$90,692</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($361,553)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$662,321</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net earnings for the year</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23,087&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23,087&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other comprehensive income</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,945&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,945&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,945&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total comprehensive income</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9,945</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9,945</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,087</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">33,032</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares issued for&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Prospectus offerings (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(a))</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,654,338&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">126,132&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">126,132&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Exercise of stock options (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(b))</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,473,926&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19,914&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(5,903)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(5,903)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">14,011&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Acquisition of Springpole Silver Stream (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">14(c)</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">805,698&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,479&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,479&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Acquisition of mining interests</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">66,997&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">700&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">700&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Settlement of restricted share units </font></div><div style="padding-left:11.25pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(c))</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">127,000&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">992&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(992)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(992)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares repurchased and cancelled </font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(e))</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(275,000)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1,260)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(434)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1,694)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Balance at December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">221,965,031</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,087,139</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$75,420</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$7,413</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$19,164</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$101,997</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($338,900)</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$850,236</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:3pt;padding-left:24.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.33pt">Share-based payments reserve records the cumulative amount recognized under IFRS 2 share-based payments in respect of stock options granted, restricted share units and shares purchase warrants issued but not exercised or settled to acquire shares of the Company.</font></div><div style="margin-bottom:3pt;padding-left:24.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.96pt">Other comprehensive income reserve principally records the unrealized fair value gains or losses related to fair value through other comprehensive income (&#34;FVTOCI&#34;) financial instruments and re-measurements arising from actuarial gains or losses and return on plan assets in relation to San Dimas' retirement benefit plan.</font></div><div style="margin-bottom:3pt;padding-left:24.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(c)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.78pt">Equity component of convertible debenture reserve represents the estimated fair value of its conversion option of $26.3 million, net of deferred tax effect of $7.1 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves. </font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual  Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 5</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_34"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr></table></div></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_37"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">1.  NATURE OF OPERATIONS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic Silver Corp. (the &#8220;Company&#8221; or &#8220;First Majestic&#8221;) is in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico. The Company owns three producing mines&#58; the San Dimas Silver&#47;Gold Mine, the Santa Elena Silver&#47;Gold Mine and the La Encantada Silver Mine, four mines in suspension&#58; the San Martin Silver Mine, the Del Toro Silver Mine, the La Parrilla Silver Mine and the La Guitarra Silver&#47;Gold Mine, and several exploration stage projects. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic is incorporated in Canada with limited liability under the legislation of the Province of British Columbia and is publicly listed on the New York Stock Exchange under the symbol &#8220;AG&#8221;, on the Toronto Stock Exchange under the symbol &#8220;FR&#8221; and on the Frankfurt Stock Exchange under the symbol &#8220;FMV&#8221;. The Company&#8217;s head office and principal address is located at 925&#160;West Georgia Street, Suite 1800, Vancouver, British Columbia, Canada, V6C 3L2.</font></div><div style="text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_43"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2.  BASIS OF PRESENTATION</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (&#8220;IFRS&#8221;). The significant accounting policies, estimates and judgments applied in preparing these consolidated financial statements are summarized in Note 3 of the consolidated financial statements and have been consistently applied throughout all periods presented.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These audited consolidated financial statements have been prepared on an historical cost basis except for certain items that are measured at fair value including derivative financial instruments (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">24</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)) and other financial assets (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">13</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). All dollar amounts presented are in thousands of United States dollars unless otherwise specified. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These audited consolidated financial statements incorporate the financial statements of the Company and its controlled subsidiaries. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The consolidated financial statements include the accounts of the Company and its subsidiaries (see Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_133" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">27</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). Intercompany balances, transactions, income and expenses are eliminated on consolidation.&#160;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These audited consolidated financial statements of First Majestic Silver Corp. for the years ended December 31, 2020 and 2019 were approved and authorized for issue by the Board of Directors on February&#160;18, 2021.</font></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_49"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of audited consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions about future events that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management&#8217;s best knowledge of the amounts, events or actions, actual results may differ from these estimates.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amended IFRS standards that are effective for the current year</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the current year, the Company has applied the below amendments to IFRS Standards and Interpretations issued by the International Accounting Standards Board (&#34;IASB&#34;) that were effective for annual periods that begin on or after January 1, 2020. Their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%;text-decoration:underline">Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7)</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments in Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7) clarify that entities would continue to apply certain hedge accounting requirements assuming that the interest rate benchmark on which the hedged cash flows and cash flows from the hedging instrument are based will not be altered as a result of interest rate benchmark reform. This amendment did not have a significant impact to the Company's financial statements as the Company does not currently apply hedge accounting.</font></div><div style="text-align:justify;text-indent:7.5pt"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 6</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:97%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Amendments to IFRS 16 Leases</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To provide practical relief to lessees in accounting for rent concessions arising as a result of COVID-19 the International Accounting Standards Board (&#34;IASB&#34;) proposed an amendment to IFRS 16 which provides lessees with a practical expedient that relieves a lessee from assessing whether a COVID-19-related rent concession is a lease modification. The amendment is effective for annual reporting periods beginning on or after June 1, 2020, with earlier application permitted. This amendment did not have a significant impact to the Company's financial statements as the Company has not received any COVID-19 related rent concessions as of the date of these financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Amendments to IFRS 3 Definition of a Business</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments clarify that while businesses usually have outputs, outputs are not required for an integrated set of activities and assets to qualify as a business. To be considered a business an acquired set of activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional guidance is provided that helps to determine whether a substantive process has been acquired. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments introduce an optional concentration test that permits a simplified assessment of whether an acquired set of activities and assets is not a business. Under the optional concentration test, the acquired set of activities and assets is not a business if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar assets. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are applied prospectively to all business combinations and asset acquisitions for which the acquisition date is on or after the first annual reporting period beginning on or after January 1, 2020. The Company will assess the impact of these amendments on future acquisitions to all business combinations and asset acquisitions.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Combinations</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquisitions of businesses are accounted for using the acquisition method. The consideration of each business combination is measured, at the date of the exchange, as the aggregate of the fair value of assets given, liabilities incurred or assumed and equity instruments issued by the Company to the former owners of the acquiree in exchange for control of the acquiree. Acquisition-related costs incurred for the business combination are expensed. The acquiree&#8217;s identifiable assets, liabilities and contingent liabilities are recognized at their fair value at the acquisition date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill arising on acquisition is recognized as an asset and initially measured at cost, being the excess of the consideration of the acquisition over the Company&#8217;s interest in the fair value of the net identifiable assets, liabilities and contingent liabilities recognized. If the Company&#8217;s interest in the fair value of the acquiree&#8217;s net identifiable assets, liabilities and contingent liabilities exceeds the cost of the acquisition, the excess is recognized in earnings or loss immediately. Goodwill may also arise as a result of the requirement under IFRS to record a deferred tax liability on the excess of the fair value of the acquired assets over their corresponding tax bases, with the corresponding offset recorded as goodwill.</font></div></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 7</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Goodwill </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill arising on the acquisition of a business is carried at cost as established at the date of the acquisition less accumulated impairment losses, if any. Goodwill is allocated to each of the Company&#8217;s cash-generating units that is expected to benefit from the synergies of the acquisition. A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata based on the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognized directly in profit or loss in the consolidated statements of earnings or loss. An impairment loss recognized for goodwill is not reversed in subsequent periods. As at December 31, 2020, the Company had $nil goodwill (2019 - $nil).</font></td></tr></table></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Foreign Currency</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements are presented in U.S. dollars. The individual financial statements of each entity are presented in their functional currency, which is the currency of the primary economic environment in which the entity operates.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transactions in foreign currencies are translated into the entities&#8217; functional currencies at the exchange rates at the date of the transactions. Monetary assets and liabilities of the Company&#8217;s operations denominated in a currency other than the U.S. dollar are translated using exchange rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates on the dates of the transactions. Revenue and expense items are translated at the exchange rates in effect at the date of the underlying transaction, except for depletion and depreciation related to non-monetary assets, which are translated at historical exchange rates. Exchange differences are recognized in the statements of earnings or loss in the period in which they arise.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Determination of Functional Currency</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The functional currency for each of the Company&#8217;s subsidiaries is the currency of the primary economic environment in which the entity operates. The Company has determined that the functional currency of each entity is the U.S. dollar. Determination of functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment.</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenue Recognition (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_61" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 5</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;<br></font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's primary product is silver. Other metals, such as gold, lead and zinc, produced as part of the extraction process are considered to be by-products arising from the production of silver. Smelting and refining charges are net against revenue from the sale of metals. <br><br>Revenue relating to the sale of metals is recognized when control of the metal or related services are transferred to the customer in an amount that reflects the consideration the Company expects to receive in exchange for the metals.<br><br>When considering whether the Company has satisfied its performance obligation, it considers the indicators of the transfer of control, which include, but are not limited to, whether&#58; the Company has a present right to payment&#59; the customer has legal title to the asset&#59; the Company has transferred physical possession of the asset to the customer&#59; and the customer has the significant risks and rewards of ownership of the asset. </font></td></tr></table></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 8</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenue Recognition (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_61" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note </a><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_61" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">5</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">) (continued)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;<br>(continued)<br></font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Metals in dor&#233; sold are priced on date of transfer of control. Final weights and assays are adjusted on final settlement which is approximately one month after delivery. Metals in concentrate sold are provisionally priced at the date of transfer of control as the final selling price is subject to movements in the monthly average prices up to the final settlement date, typically one to three months after delivery to the customer. Upon transfer of control of the concentrate, the Company recognizes revenue on a provisional basis based on spot price and, at each period end, subsequently re-estimated by reference to forward market prices of the estimated month of settlement, with the impact of changes in the forward market prices recognized as revenue adjustments as they occur until final settlement. <br><br>Revenue from the sale of coins, ingots and bullion is recorded when the products have been shipped and funds have been received. When cash was received from customers prior to shipping of the related finished goods, the amounts are recorded as unearned revenue until the products are shipped.</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Determination of Performance Obligations</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company applied judgment to determine if a good or service that is promised to a customer is distinct based on whether the customer can benefit from the good or service on its own or together with other readily available resources and whether the good or service is separately identifiable. Based on these criteria, the Company determined the primary performance obligation relating to its sales contracts is the delivery of the bullion, dor&#233; and concentrates. Shipping and insurance services arranged by the Company for its concentrate sales customers that occur after the transfer of control are also considered to be performance obligations. </font></div></td></tr></table></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Inventories (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_85" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 12</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:8pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mineral inventories, including stockpiled ore, work in process and finished goods, are valued at the lower of weighted average cost and estimated net realizable value. Cost includes all direct costs incurred in production including direct labour and materials, freight, depreciation and amortization and directly attributable overhead costs. Net realizable value is calculated as the estimated price at the time of sale based on prevailing and future metal prices less estimated future production costs to convert the inventories into saleable form. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any write-downs of inventory to net realizable value are recorded as cost of sales. If there is a subsequent increase in the value of inventories, the previous write-downs to net realizable value are reversed to the extent that the related inventory has not been sold. </font></div></td></tr></table></div><div style="margin-bottom:8pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stockpiled ore inventory represents ore that has been extracted from the mine and is available for further processing. Costs added to stockpiled ore inventory are valued based on current mining cost per tonne incurred up to the point of stockpiling the ore and are removed at the weighted average cost per tonne. Stockpiled ore tonnage is verified by periodic surveys and physical counts.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Work in process inventory includes precipitates, inventories in tanks and in the milling process. Finished goods inventory includes metals in their final stage of production prior to sale, including primarily dor&#233; and dried concentrates at our operations and finished goods in-transit. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Materials and supplies inventories are valued at the lower of weighted average cost and net realizable value. Costs include acquisition, freight and other directly attributable costs.</font></div></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 9</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exploration and Evaluation Expenditures (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 14</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exploration and evaluation activity involves the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation activity includes&#58; </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   acquiring the rights to explore&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   researching and analyzing historical exploration data&#59; </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   gathering exploration data through topographical, geochemical and geophysical studies&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   exploratory drilling, trenching and sampling&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   determining and examining the volume and grade of the resource&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   surveying transportation and infrastructure requirements&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   compiling pre-feasibility and feasibility studies. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Capitalization of exploration and evaluation expenditures commences on acquisition of a beneficial interest or option in mineral rights. Capitalized costs are recorded as mining interests at cost less impairment charges, if applicable. No amortization is charged during the exploration and evaluation phase as the asset is not available for use. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of the Company&#8217;s exploration and evaluation expenditures focus on mineral deposits in proximity to its existing mining operations. Where the Company is acquiring a new property, the Company makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exploration and evaluation expenditures are transferred to development or producing mining interests when technical feasibility and commercial viability of the mineral resource have been demonstrated. Factors taken into consideration include&#58;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  there is sufficient geological certainty of converting the mineral deposit into proven and probable   reserves&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   life of mine plan and economic modeling support the economic extraction of such reserves and       resources&#59;</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  for new properties, a scoping study and&#47;or feasibility study demonstrates that the additional    reserves and resources will generate a positive economic outcome&#59; and</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;    operating and environmental permits exist or are reasonably assured as obtainable.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exploration and evaluation expenditures remain as exploration mining interests and do not qualify as producing mining interests until the aforementioned criteria are met. Exploration and evaluation expenditures are transferred to development or producing mining interests when the technical feasibility and commercial viability of a mineral resource has been demonstrated according to the above mentioned factors.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Economic recoverability and probability of future economic benefits of exploration, evaluation and development costs</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management has determined that exploratory drilling, evaluation, development and related costs incurred which were capitalized have potential future economic benefits and are potentially economically recoverable, subject to impairment analysis. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefit including geologic and metallurgic information, history of conversion of mineral deposits to proven and probable reserves, scoping and feasibility studies, accessible facilities, existing permits and life of mine plans.</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 10</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-top:5pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-top:5pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mining Interests (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 14</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;<br></font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exploration, development and field support costs directly related to mining interests are deferred until the property to which they directly relate is placed into production, sold, abandoned or subject to a condition of impairment. The deferred costs are amortized over the useful life of the ore body following commencement of production, or written off if the property is sold or abandoned. Administration costs and other exploration costs that do not relate to any specific property are expensed as incurred.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon commencement of commercial production, mining interests are depleted on a units-of-production basis over the estimated economic life of the mine. In applying the units of production method, depletion is determined using quantity of material extracted from the mine in the period as a portion of total quantity of material to be extracted in current and future periods based on reserves and resources considered to be highly probable to be economically extracted over the life of mine. If no published reserves and resources are available, the Company may rely on internal estimates of economically recoverable mineralized material, prepared on a basis consistent with that used for determining reserves and resources, for purpose of determining depletion.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From time to time, the Company acquires or disposes of properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee with no obligation or sale until exercised or expired and, accordingly, are recorded as mineral property costs or recoveries when the payments are made or received.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;<br></font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Mineral Reserve and Resource Estimates</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mineral reserve and resource estimates affect the determination of recoverable value used in impairment assessments, the depletion and depreciation rates for non-current assets using the units of production method and the expected timing of reclamation and closure expenditures. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The figures for mineral reserves and mineral resources are determined in accordance with National Instrument 43-101 (&#34;NI 43-101&#34;) Technical Report standards. There are numerous uncertainties inherent in estimating mineral reserves and mineral resources, including many factors beyond the Company&#8217;s control. Such estimation is a subjective process and the accuracy of any mineral reserve or mineral resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and geological interpretation. Differences between management&#8217;s assumptions including economic assumptions such as metal prices and market conditions could have a material effect in the future on the Company&#8217;s financial position, results of operation and cash flows.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;<br></font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Depletion Rate for Mining Interests</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depletion expenses are allocated based on estimated useful life of the asset. Should the expected asset life and associated depletion rate differ from the initial estimate, the change in estimate would be made prospectively in the consolidated statements of earnings or loss.</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 11</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Stream Asset (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 14</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;<br></font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">A stream asset is a long-term metal purchase agreement for which settlement is called for in silver, the amount of which is based on production at a mine corresponding to the specific agreement. On acquisition of a stream asset, it is recorded at cost and is accounted for in accordance with IFRS 6, Exploration and Evaluation of Mineral Resources (&#8220;IFRS 6&#8221;). A stream asset where the mine corresponding to the specific agreement is an exploration and evaluation stage property is classified as exploration and evaluation asset and is assessed for impairment whenever indicators of impairment exist in accordance with IFRS 6. An impairment loss is recognized for the amount by which the asset&#8217;s carrying value exceeds its recoverable amount. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Once the technical feasibility, commercial viability and a development decision have been established, the value of the stream asset is reclassified and accounted for in accordance with IAS 16, Property, Plant and Equipment (&#8220;IAS 16&#8221;). The exploration and evaluation asset is subject to an impairment test prior to reclassification in accordance with IFRS&#160;6. It is subsequently measured at cost less accumulated depletion and accumulated impairment losses, if any. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">A producing stream asset is depleted using the units-of-production method over the life of the property to which the interest relates, which is estimated using available information of proven and probable reserves and the portion of resources expected to be classified as mineral reserves at the mine corresponding to the specific agreement. </font></div><div style="text-align:justify"><font><br></font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Property, Plant and Equipment (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;text-decoration:underline">Note 15</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment are recorded at cost less accumulated depreciation and accumulated impairment losses. The cost of an item of property, plant and equipment includes the purchase price or construction cost, any costs directly attributable to bringing the asset to the location and condition necessary for its intended use, an initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located, and borrowing costs related to the acquisition or construction of qualifying assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment are depreciated using either the straight-line or units-of-production method over the shorter of the estimated useful life of the asset or the expected life of mine. Where an item of property, plant and equipment comprises of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment. Assets under construction are recorded at cost and re-allocated to machinery and equipment when it becomes available for use. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation commences when the asset is in the condition and location necessary for it to operate in the manner intended by management. Depreciation charges on assets that are directly related to mineral properties are allocated to those mineral properties. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company conducts an annual review of residual balances, useful lives and depreciation methods utilized for property, plant and equipment. Any changes in estimate that arise from this review are accounted for prospectively.</font></div></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 12</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Property, Plant and Equipment (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;text-decoration:underline">Note 15</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">) (continued)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Commencement of Commercial Production</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to reaching commercial production levels intended by management, costs incurred are capitalized as part of the related mine or mill and proceeds from mineral sales are offset against costs capitalized. Depletion of capitalized costs for mining properties and depreciation and amortization of property, plant and equipment begin when operating levels intended by management have been reached.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Determining when a mine or mill is in the condition necessary for it to be capable of operating in the manner intended by management is a matter of judgment dependent on the specific facts and circumstances. The following factors may indicate that commercial production has commenced&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; substantially all major capital expenditures have been completed to bring the asset to the                                         condition necessary to operate in the manner intended by management&#59;</font></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the mine or mill has reached a pre-determined percentage of design capacity&#59;</font></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the ability to sustain a pre-determined level of design capacity for a significant period of time (i.e. the ability to process ore continuously at a steady or increasing level)&#59;</font></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the completion of a reasonable period of testing of the mine plant and equipment&#59;</font></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the ability to produce a saleable product (i.e. the ability to produce concentrate within required sellable specifications)&#59;</font></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the mine or mill has been transferred to operating personnel from internal development groups or external contractors&#59; and</font></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  mineral recoveries are at or near the expected production levels.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Depreciation and Amortization Rates for Property, Plant and Equipment</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization expenses are allocated based on estimated useful life of the asset. Should the expected asset life and associated depreciation rates differ from the initial estimate, the change in estimate would be made prospectively in the consolidated statements of earnings or loss.</font></div></td></tr></table></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Borrowing Costs</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset that takes a substantial period of time to get ready for its intended use are capitalized as part of the cost of the asset until the asset is substantially ready for its intended use. Other borrowing costs are recognized as an expense in the period incurred. As at December 31, 2020 and 2019, the Company does not have any qualifying assets under construction.</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right of Use Assets (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note <a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_97" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">16</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">) and Lease Liabilities (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 20</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective January 1, 2019, the Company assesses whether a contract is or contains a lease, at inception of the contract. The Company recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For short-term and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.</font></div><div style="padding-left:6.75pt;text-align:justify"><font><br></font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the lessee uses its incremental borrowing rate. </font></div><div style="padding-left:6.75pt;text-align:justify"><font><br></font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease payments included in the measurement of the lease liability comprise&#58; </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; fixed lease payments (including in-substance fixed payments), less any lease incentives receivable&#59;</font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  variable lease payments that depend on an index or rate, initially measured using the index or                    rate at the commencement date&#59; </font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the amount expected to be payable by the lessee under residual value guarantees&#59; </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the exercise price of purchase options, if the lessee is reasonably certain to exercise the options&#59; and </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease.</font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;</font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. </font></div><div style="padding-left:6.75pt;text-align:justify"><font><br></font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever&#58; </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which case the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used). </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  a lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. </font></div><div style="text-align:justify"><font><br></font></div></td></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 13</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right of Use Assets (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note <a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_97" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">16</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">) and Lease Liabilities (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 20</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">) (continued) </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy (continued)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease payments included in the measurement of the lease liability comprise&#58; </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; fixed lease payments (including in-substance fixed payments), less any lease incentives receivable&#59;</font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  variable lease payments that depend on an index or rate, initially measured using the index or                    rate at the commencement date&#59; </font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the amount expected to be payable by the lessee under residual value guarantees&#59; </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the exercise price of purchase options, if the lessee is reasonably certain to exercise the options&#59; and </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease.</font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;</font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. </font></div><div style="padding-left:6.75pt;text-align:justify"><font><br></font></div><div style="padding-left:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever&#58; </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which case the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used). </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  a lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. </font></div><div style="text-align:justify"><font><br></font></div></td></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:17.135%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.829%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.636%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The right-of-use assets comprise of the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. </font></div><div style="padding-left:15.75pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a practical expedient, IFRS 16 permits a lessee not to separate non-lease components, and instead account for any lease and associated non-lease components as a single arrangement.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognized immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance with the Company&#8217;s general policy on borrowing costs.</font></div></td></tr></table></div><div style="margin-bottom:6pt"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 14</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Impairment of Non-Current Assets (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_100" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 17</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.440%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.821%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.339%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At each statement of financial position date, the Company reviews the carrying amounts of its non-current assets to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. Where the asset does not generate independent cash inflows, the Company estimates the recoverable amount of the cash generating unit (&#8220;CGU&#8221;) to which the asset belongs. <br><br>If the recoverable amount of the asset or CGU is determined to be less than its carrying amount, the carrying amount of the asset or CGU is reduced to its recoverable amount and an impairment loss is recognized as an expense in the consolidated statements of earnings or loss. Recoverable amount is the higher of fair value less costs of disposal (&#8220;FVLCD&#8221;) and value in use (&#8220;VIU&#8221;).<br><br>FVLCD is determined as the amount that would be obtained from the sale of the asset or CGU in an arm&#8217;s length transaction between knowledgeable and willing parties. The Company considers the use of a combination of its internal discounted cash flow economic models and in-situ value of reserves, resources and exploration potential of each CGU for estimation of its FVLCD. These cash flows are discounted by an appropriate post-tax discount rate to arrive at a net present value of the asset. VIU is determined as the present value of the estimated cash flows expected to arise from the continued use of the asset or CGU in its present form and its eventual disposal. VIU is determined by applying assumptions specific to the Company&#8217;s continued use and does not take into account future development. <br><br>Where an impairment loss subsequently reverses, the carrying amount of the asset or CGU is increased to the revised estimate of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment been recognized for the asset or CGU in prior periods, adjusted for additional amortization which would have been recorded had the asset or CGU not been impaired. A reversal of an impairment loss is recognized as a gain in the statements of earnings or loss.</font></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Indications of Impairment and Reversal of Impairment</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management considers both external and internal sources of information in assessing whether there are any indications that the Company&#8217;s property, plant and equipment and mining interests are impaired or previous impairments should be reversed. External sources of information management considers include changes in the market, economic and legal environment in which the Company operates that are not within its control and affect the recoverable amount of its property, plant and equipment and mining interests. Internal sources of information management consider include the manner in which mining properties and plant and equipment are being used or are expected to be used and indications of economic performance of the assets. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For exploration and evaluation assets, indications include but are not limited to expiration of the right to explore, substantive expenditure in the specific area is neither budgeted nor planned, and if the entity has decided to discontinue exploration activity in the specific area</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fair Value Estimates</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In determining the recoverable amounts of the Company&#8217;s property, plant and equipment and mining interests, management makes estimates of the discounted future cash flows expected to be derived from the Company&#8217;s mining properties, costs of disposal of the mining properties and the appropriate discount rate. Reductions in metal price forecasts, increases in estimated future costs of production, increases in estimated future capital expenditures, reductions in the amount of recoverable reserves, resources, and exploration potential, and&#47;or adverse current economics can result in an impairment of the carrying amounts of the Company&#8217;s non-current assets. Conversely, favourable changes to the aforementioned factors can result in a reversal of previous impairments.</font></div></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 15</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Share-based Payment Transactions (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_121" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 23(b)</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Employees (including directors and officers) of the Company may receive a portion of their remuneration in the form of stock options which are share&#8208;based payment transactions (&#8220;share-based payments&#8221;). Stock options issued to employees are measured by reference to their fair value using the Black-Scholes model at the date on which they were granted. Forfeitures are estimated at grant date and adjusted prospectively based on actual forfeitures. Share-based payments expense, for stock options that are forfeited or cancelled prior to vesting, is reversed. The costs of share-based payments are recognized, together with a corresponding increase in the equity reserve, over the period in which the services and&#47;or performance conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (&#8220;the vesting date&#8221;). On exercise by the employee, the associated option value in the equity reserve is reclassified to share capital.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company adopted the 2019 LTIP to allow the Company to grant to its directors, employees and consultants non-transferable Restricted Share Units (&#34;RSU's&#34;) based on the value of the Company's share price at the date of grant. Unless otherwise stated, the awards typically have a graded vesting schedule over a three-year period and can be settled either in cash or equity upon vesting at the discretion of the Company. The Company intends to settle all RSU's in equity.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In situations where equity instruments are issued to non&#8208;employees, the share-based payments are measured at the fair value of goods or services received. If some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at the fair value of the share&#8208;based payment. </font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Valuation of Share-based Payments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses the Black-Scholes Option Pricing Model for valuation of share-based payments. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company&#8217;s earnings and equity reserves.</font></div></td></tr></table></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Taxation (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 22</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case they are recognized in other comprehensive income or directly in equity. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current income tax is based on taxable earnings for the year. The tax rates and tax laws to compute the amount payable are those that are substantively enacted in each tax regime at the date of the statement of financial position.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred income tax is recognized, using the liability method, on temporary differences between the carrying value of assets and liabilities in the statement of financial position, unused tax losses, unused tax credits and the corresponding tax bases used in the computation of taxable earnings, based on tax rates and tax laws that are substantively enacted at the date of the statement of financial position and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, and interests in joint ventures, except where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets are recognized for all deductible temporary differences to the extent that the realization of the related tax benefit through future taxable earnings is probable. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset the current tax assets against the current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.</font></div></td></tr></table></div><div style="margin-top:5pt;text-align:center"><font><br></font></div><div style="margin-top:5pt;text-align:center"><font><br></font></div><div style="margin-top:5pt;text-align:center"><font><br></font></div><div style="margin-top:5pt;text-align:center"><font><br></font></div><div style="margin-top:5pt;text-align:center"><font><br></font></div><div style="margin-top:5pt;text-align:center"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 16</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-top:5pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Taxation (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_118" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 22</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">) (continued)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy (continued)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, and interests in joint ventures, except where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets are recognized for all deductible temporary differences to the extent that the realization of the related tax benefit through future taxable earnings is probable. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset the current tax assets against the current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Recognition of Deferred Income Tax Assets</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In assessing the probability of realizing income tax assets recognized, management makes estimates related to expectations of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Estimates of future taxable income are based on forecasted cash flows from operations and the application of existing tax laws in each jurisdiction. Forecasted cash flows from operations are based on life of mine projections internally developed, reviewed by management and are consistent with the forecasts utilized for business planning and impairment testing purposes. Weight is attached to tax planning opportunities that are within the Company&#8217;s control, and are feasible and implementable without significant obstacles. The likelihood that tax positions taken will be sustained upon examination by applicable tax authorities is assessed based on individual facts and circumstances of the relevant tax position evaluated in light of all available evidence. Where applicable tax laws and regulations are either unclear or subject to ongoing varying interpretations, it is reasonably possible that changes in these estimates can occur that materially affect the amounts of income tax assets recognized. At the end of each reporting period, the Company reassesses recognized and unrecognized income tax assets.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Tax Contingencies</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s operations involve dealing with uncertainties and judgments in the application of tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with tax authorities in various jurisdictions and resolution of disputes arising from tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these liabilities in light of changing facts and circumstances&#59; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company&#8217;s current estimate of the tax liabilities. If the Company&#8217;s estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result.</font></div></td></tr></table></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash and Cash Equivalents</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash in the statement of financial position includes cash on hand and held at banks and cash equivalents include short-term guaranteed investment certificates redeemable within three months or less at the date of purchase.</font></td></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 17</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Financial Instruments </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. On initial recognition, all financial assets and financial liabilities are recorded at fair value, net of attributable transaction costs, except for financial assets and liabilities classified as at fair value through profit or loss (&#8220;FVTPL&#8221;). The directly attributable transaction costs of financial assets and liabilities classified as at FVTPL are expensed in the period in which they are incurred.<br><br>Subsequent measurement of financial assets and liabilities depends on the classifications of such assets and liabilities. </font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Amortized cost</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets that meet the following conditions are measured subsequently at amortized cost&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows, and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amortized cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. Interest income is recognized using the effective interest method.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's financial assets at amortized cost primarily include cash and cash equivalents, trade and other receivables and value added taxes receivable included in other current and non-current financial assets in the Consolidated Statement of Financial Position.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fair value through other comprehensive income (&#34;FVTOCI&#34;)</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets that meet the following conditions are measured at FVTOCI&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has designated certain investments in marketable securities that are not held for trading as FVTOCI (note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">13</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On initial recognition, the Company may make an irrevocable election (on an instrument-by-instrument basis) to designate investments in equity instruments that would otherwise be measured at fair value through profit or loss to present subsequent changes in fair value in other comprehensive income. Designation at FVTOCI is not permitted if the equity investment is held for trading or if it is contingent consideration recognized by an acquirer in a business combination. Investments in equity instruments at FVTOCI are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains and losses arising from changes in fair value recognized in OCI. The cumulative gain or loss is not reclassified to profit or loss on disposal of the equity instrument, instead, it is transferred to retained earnings.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Financial assets measured subsequently at fair value through profit or loss (&#8220;FVTPL&#8221;)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By default, all other financial assets, including derivatives, are measured subsequently at FVTPL.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company, at initial recognition, may also irrevocably designate a financial asset as measured at FVTPL if doing so eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets measured at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognized in profit or loss to the extent they are not part of a designated hedging relationship. Fair value is determined in the manner described in note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">24</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The Company's financial assets at FVTPL include its account receivable arising from sales of metal contained in concentrates.</font></div></td></tr></table></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 18</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Financial Instruments (continued)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;<br></font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Financial assets measured subsequently at fair value through profit or loss (&#8220;FVTPL&#8221;)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By default, all other financial assets, including derivatives, are measured subsequently at FVTPL.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company, at initial recognition, may also irrevocably designate a financial asset as measured at FVTPL if doing so eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial assets measured at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognized in profit or loss to the extent they are not part of a designated hedging relationship. Fair value is determined in the manner described in note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">24</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The Company's financial assets at FVTPL include its account receivable arising from sales of metal contained in concentrates.</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Financial liabilities and equity</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all its liabilities. Equity instruments issued by the Company are recognized at the proceeds received, net of direct issue costs. Repurchase of the Company&#8217;s own equity instruments is recognized and deducted directly in equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Company&#8217;s own equity instruments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial liabilities that are not contingent consideration of an acquirer in a business combination, held for trading or designated as FVTPL, are measured at amortized cost using  the effective interest method. The Company's financial liabilities at amortized cost primarily include trade and other payables, debt facilities (note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">19</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) and lease liabilities (note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">20</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</font></div><div style="text-align:justify"><font><br></font></div></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Provisions (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 21</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions are recognized when the Company has a present legal or constructive obligation as a result of a past event, it is probable that the Company will be required to settle the obligation, and a reliable estimate of the obligation can be made. The amount recognized as a provision is the present value of the expenditures expected to be required to settle the obligation using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognized as finance costs.</font></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Estimates and Judgments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Estimated Reclamation and Closure Costs</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s provision for decommissioning liabilities represents management&#8217;s best estimate of the present value of the future cash outflows required to settle estimated reclamation and closure costs at the end of the mine&#8217;s life. The provision reflects estimates of future costs, inflation, movements in foreign exchange rates and assumptions of risks associated with the future cash outflows, and the applicable risk-free interest rates for discounting the future cash outflows. Changes in the above factors can result in a change to the provision recognized by the Company. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes to reclamation and closure cost obligations are recorded with a corresponding change to the carrying amounts of related mining properties. Adjustments to the carrying amounts of related mining properties can result in a change to future depletion expense.</font></div></td></tr></table></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 19</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  SIGNIFICANT ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Earnings or Loss per Share (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Note 11</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">)</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.174%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:79.603%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Policy&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic earnings or loss per share for the period is calculated by dividing the earnings or loss attributable to equity holders of the Company by the weighted average number of shares outstanding during the reporting period.<br><br>Diluted earnings or loss per share is calculated by adjusting the weighted average number of shares outstanding to assume conversion of all potentially dilutive share equivalents, such as stock options and share purchase warrants, and assumes the receipt of proceeds upon exercise of the options to determine the number of shares assumed to be purchased at the average market price during the period.</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Future Changes in Accounting Policies Not Yet Effective as at December 31, 2020</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%;text-decoration:underline">Interest Rate Benchmark Reform &#8212; Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments in Interest Rate Benchmark Reform &#8212; Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) introduce a practical expedient for modifications required by the reform, clarify that hedge accounting is not discontinued solely because of the IBOR reform, and introduce disclosures that allow users to understand the nature and extent of risks arising from the IBOR reform to which the entity is exposed to and how the entity manages those risks as well as the entity&#8217;s progress in transitioning from IBORs to alternative benchmark rates, and how the entity is managing this transition.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2021, with early application permitted. This amendment is not expected to have a material impact on the Company&#8217;s financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Property, Plant and Equipment &#8212; Proceeds before Intended Use (Amendments to IAS 16)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognises the proceeds from selling such items, and the cost of producing those items, in profit or loss.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2022, with early application permitted. The amendments are applied retrospectively, but only to items of property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after the beginning of the earliest period presented in the financial statements in which the Company first applies the amendments. The Company will recognise the cumulative effect of initially applying the amendments as an adjustment to the opening balance of retained earnings at the beginning of that earliest period presented. This amendment will impact the Company&#8217;s accounting for proceeds from mineral sales prior to reaching commercial production levels intended by management.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Classification of Liabilities as Current or Non-Current (Amendments to IAS 1)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2023, with early application permitted. This amendment is not expected to have a material impact on the Company&#8217;s financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_58"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">4.  SEGMENTED INFORMATION</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All of the Company&#8217;s operations are within the mining industry and its major products are precious metals dor&#233; which are refined or smelted into pure silver and gold and sold to global metal brokers. Historically, the Company has also produced industrial metals of lead and zinc from its sales of concentrates.  Transfer prices between reporting segments are set on an arms-length basis in a manner similar to transactions with third parties. Coins and bullion cost of sales are based on transfer prices.</font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 20</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">4.  SEGMENTED INFORMATION (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">A reporting segment is defined as a component of the Company that&#58;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">engages in business activities from which it may earn revenues and incur expenses&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">whose operating results are reviewed regularly by the entity&#8217;s chief operating decision maker&#59; and</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">for which discrete financial information is available.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">For the year ended December&#160;31, 2020, the Company's reporting segments includes its three operating mines in Mexico. Effective January 1, 2020, the Company no longer considers the La Parrilla, Del Toro, San Martin and La Guitarra mines, which have been placed on suspension, as significant reporting segments. Accordingly, these mines have been grouped as &#34;non-producing properties&#34; category for the year ended December&#160;31, 2020 and 2019. &#8220;Others&#8221; consists primarily of the Company&#8217;s corporate assets including cash and cash equivalents, other development and exploration properties (Note&#160;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">14</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">), debt facilities (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">19</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">), intercompany eliminations, and corporate expenses which are not allocated to operating segments. The Company&#8217;s chief operating decision maker (&#8220;CODM&#8221;) evaluates segment performance based on mine operating earnings. Therefore, other income and expense items are not allocated to the segments. The segmented information for the comparative periods have been adjusted to reflect the Company's reporting segments for the reporting year ended December&#160;31, 2020 for consistency.</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant information relating to the Company&#8217;s reportable operating segments is summarized in the tables below&#58;</font></div><div><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.069%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.335%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31, 2020 and 2019</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Depletion, depreciation, and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating earnings (loss)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Capital expenditures</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mexico</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$211,759</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$110,782</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$33,738</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$67,239</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$43,772</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">185,999&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100,120&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,491&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57,388&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42,511&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">76,051</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">52,990</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,472</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,589</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">33,739</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94,378&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53,605&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,204&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,569&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,004&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">73,632</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">37,794</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8,265</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">27,573</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,733</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50,867&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36,609&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,648&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,610&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,225&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;&#160;&#160;Non-producing Properties</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">183</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,362</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">848</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(2,027)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,338</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,204&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,910&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,162&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(20,868)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,258&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Others</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,251</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,489</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,082</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(320)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">32,453</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">496&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">902&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,079&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,485)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,196&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,876</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$204,417</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$54,405</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$105,054</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$125,035</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,944</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$232,146</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$65,584</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$66,214</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$124,194</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December&#160;31, 2020, the Company had three (December&#160;31, 2019 - six) customers that accounted for 99% of its sales revenue, with one major metal broker accounting for 92% of total revenue (2019 - 85%).</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:27.282%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.223%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.047%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.047%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.047%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.047%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.047%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.050%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">At December 31, 2020 and 2019</font></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Mining Interests</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Property, plant and equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total <br>mining assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;Total <br>assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total liabilities</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Producing</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exploration</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Mexico</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$204,592</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$17,179</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$112,105</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$333,876</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$439,145</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$105,462</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">193,433&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,699&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">116,556&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">318,688&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">360,387&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46,504&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">52,892</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">33,951</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">49,245</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">136,088</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">166,525</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">33,467</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">45,046&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,592&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47,787&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">111,425&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">134,666&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,867&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">25,865</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,955</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">16,555</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">45,375</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">99,185</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">29,354</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,091&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,104&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,736&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">38,931&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">71,255&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,563&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;&#160;&#160;Non-producing Properties</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">108,837</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">37,004</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">29,888</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">175,729</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">219,109</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">40,274</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">105,778&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,938&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,050&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">169,766&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">213,061&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">36,261&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Others</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">26,456</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">50,427</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">76,883</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">313,553</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">178,724</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">34,710&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,510&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">61,220&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">233,583&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">222,436&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$392,185</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$117,545</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$258,220</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$767,950</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$1,237,517</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$387,281</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$367,348</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$96,043</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$236,639</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$700,030</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$1,012,952</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$350,631</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 21</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_61"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:65.25pt;text-indent:-67.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">5.  REVENUES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of the Company&#8217;s revenues are from the sale of precious metals contained in dor&#233; form. The Company&#8217;s primary products are precious metals of silver and gold. Revenues from sale of metal, including by-products, are recorded net of smelting and refining costs. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues for the period are summarized as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.765%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.186%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.191%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">revenue</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">from</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">payable</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">metals&#58;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160;Silver</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$242,338&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">66&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$215,301&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160;Gold</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">124,264&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">143,029&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160;Lead</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,988&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160;Zinc</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,517&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross revenue</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">366,676</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">368,835</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less&#58; smelting and refining costs</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,800)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,891)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,876</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,944</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, the Company had $2.7 million of unearned revenue (December 31, 2019 - $4.5 million) that has not satisfied performance obligations. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Gold Stream Agreement with Sandstorm Gold Ltd.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Santa Elena mine has a purchase agreement with Sandstorm Gold Ltd. (&#8220;Sandstorm&#8221;), which requires the Company to sell 20% of its gold production over the life of mine from its leach pad and a designated area of its underground operations. The selling price to Sandstorm is the lesser of the prevailing market price or $450 per ounce, subject to a 1% annual inflation. During the year ended December&#160;31, 2020, the Company delivered 5,697 ounces (2019 - 9,164 ounces) of gold to Sandstorm at an average price of $463 per ounce (2019 - $458 per ounce). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)   Gold Stream Agreement with Wheaton Precious Metals Corporation</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2018, the San Dimas mine entered into a purchase agreement with Wheaton Precious Metals International (&#34;WPMI&#34;), which entitles Wheaton Precious Metals Corp. (&#34;WPM&#34;) to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1 gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment) and the prevailing market price, for each gold equivalent ounce delivered. Should the average gold to silver ratio over a six month period exceed 90&#58;1 or fall below 50&#58;1, the fixed exchange ratio would be increased to 90&#58;1 or decreased to 50&#58;1, respectively. The fixed gold to silver exchange ratio was revised to 90&#58;1 on April 1, 2020 and reverted to 70&#58;1 on October 14, 2020 after the average gold to silver price ratio over a six month period fell back below 90&#58;1. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December&#160;31, 2020, the Company delivered 38,604 ounces (2019 - 44,667 ounces) of gold to WPM at $610 (2019 - $604) per ounce.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Second Quarter Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 22</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_64"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">6.  COST OF SALES</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales excludes depletion, depreciation and amortization and are costs that are directly related to production and generation of revenues at the operating segments. Significant components of cost of sales are comprised of the following&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.999%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consumables and materials</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$36,760&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$45,947&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Labour costs</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">103,075&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">118,229&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Energy</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,075&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,135&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other costs</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,275&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,243&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Production costs</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$176,185</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$212,554</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transportation and other selling costs</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,288&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,735&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Workers participation costs</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,245&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,036&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Environmental duties and royalties</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,010&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,438&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inventory changes</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(423)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,459&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost recovery related to Republic Metals Refining Corp. bankruptcy</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,600)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Standby Costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,879&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restructuring costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,645&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost of Sales</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$194,305</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$232,146</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost of Sales - Standby Costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$10,112</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1) In November 2018, one of the refineries used by the Company, Republic Metals Refining Corp. (&#34;Republic&#34;), announced it filed for bankruptcy. As a result, the Company wrote off $7.5 million in inventory that was in Republic's possession for refining. In September 2019, the Company reached a partial litigation settlement for $1.6 million. The Company continues to pursue legal channels to recover the remaining balance of inventory, but there is no assurance that this inventory is recoverable.</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">(2)  Effective from July 2019, the Company temporarily suspended all mining and processing activities at the San Martin operation due to a growing insecurity in the area and safety concerns for its workforce. The Company is working with authorities to secure the area and is uncertain of a restart date. From January 1, 2020, such costs were classified as mine holding costs (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%;text-decoration:underline">8</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">) due to continued uncertainty with respect to the timing of restart at San Martin.</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3)  Effective September 2019, the Company temporarily suspended milling operations at the La Parrilla mine. Restructuring costs include severance and plant closure costs incurred for re-organizing the operation.</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4)  Cost of sales for the year ended December&#160;31, 2020 included standby costs of $10.1 million, primarily related to direct costs incurred at the San Dimas ($3.5 million), Santa Elena ($2.0 million) and La Encantada ($1.7 million) mines due to temporary suspensions following Mexico&#8217;s Ministry of Health&#8217;s Federal Decree requiring all non-essential businesses, including mining, to temporarily suspend activities throughout most of April and May in response to the global pandemic. In addition, the Company incurred $2.0 million in standby costs related to the 13-day union work stoppage at San Dimas in June&#160;2020. </font></div><div style="margin-top:3pt;text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_67"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">7.  GENERAL AND ADMINISTRATIVE EXPENSES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">General and administrative expenses are incurred to support the administration of the business that are not directly related to production. Significant components of general and administrative expenses are comprised of the following&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.999%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Corporate administration</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$5,012&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$5,202&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Salaries and benefits</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,271&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,797&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Audit, legal and professional fees</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,353&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,943&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Filing and listing fees</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">499&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">429&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Directors fees and expenses</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">842&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">793&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,878&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,636&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$24,855</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$26,800</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 23</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_70"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">8.  MINE HOLDING COSTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s mine holding costs are primarily comprised of labour costs associated with care and maintenance staffs, electricity, security, environmental and community support costs for the following mines which are currently under temporary suspension&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.999%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Del Toro</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$7,999&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Parrilla</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,563&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,010&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,265&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Guitarra</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,757&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,569&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$21,583</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$7,579</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_73"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">9.  INVESTMENT AND OTHER INCOME </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s investment and other income (loss) are comprised of the following&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.291%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.473%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.476%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gain from investment in marketable securities (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(a)) </font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,973&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$528&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gain from investment in silver futures derivatives </font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,079&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,237&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest income and other</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,075&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,344&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$5,127</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$8,109</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_76"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">10.  FINANCE COSTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance costs are primarily related to interest and accretion expense on the Company&#8217;s debt facilities, lease liabilities and accretion of decommissioning liabilities. The Company&#8217;s finance costs in the period are summarized as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.999%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">19</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10,593&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10,885&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_112" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,479&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,142&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities </font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,362&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,410&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver sales and other</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">339&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">710&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$14,773</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$15,147</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Finance costs for debt facilities include $6.8 million of non-cash accretion expense for the year ended December&#160;31, 2020 (2019 - $6.4 million). </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 24</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_79"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">11.  EARNINGS OR LOSS PER SHARE</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic earnings or loss per share is the net earnings or loss available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted net earnings or loss per share adjusts basic net earnings per share for the effects of potential dilutive common shares.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculations of basic and diluted earnings or loss per share for the years ended December&#160;31, 2020 and 2019 are as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.584%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.330%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net earnings (loss) for the year</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$23,087&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($40,474)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Weighted average number of shares on issue - basic</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">213,879,622&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">201,615,489&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impact of effect on dilutive securities&#58;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Stock options</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,705,689&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restricted and performance share units</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">293,518&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted average number of shares on issue - diluted</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">215,878,829</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">201,615,489</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per share - basic and diluted</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.11</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.20)</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.61pt">For the year ended December&#160;31, 2020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">diluted weighted average number of shares excluded 2,666,819 (2019 - 7,583,439) options, nil restricted and performance share units (2019 - 128,944) and 16,327,598 (2019 - 16,327,598) common shares issuable under the convertible debentures (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline">19(a)</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> that were anti-dilutive.</font></div><div style="text-align:justify;text-indent:4.5pt"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_85"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">12.  INVENTORIES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories consist primarily of materials and supplies and products of the Company&#8217;s operations, in varying stages of the production process, and are presented at the lower of weighted average cost or net realizable value. </font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31,<br>2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31,<br>2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finished goods - dor&#233; </font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2,812&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,965&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Work-in-process</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,780&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,229&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Stockpile</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,336&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,130&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver coins and bullion</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">956&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">291&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Materials and supplies</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,628&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,902&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$32,512</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$30,517</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of inventories recognized as an expense during the period is equivalent to the total of cost of sales plus depletion, depreciation and amortization for the period. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 25</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_88"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">13.  OTHER FINANCIAL ASSETS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, other financial assets consists of the Company&#8217;s investment in marketable securities and foreign exchange derivatives comprised of the following&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31,<br>2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31,<br>2019</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FVTPL marketable securities (a)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$13,876&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$5,626&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FVTOCI marketable securities (b)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,444&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">880&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total marketable securities</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$36,319</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,506</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency derivatives (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_124" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">982&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total other financial assets</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$36,319</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$7,488</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Fair Value through Profit or Loss (&#34;FVTPL&#34;) Marketable Securities</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gain in marketable securities designated as FVTPL for the year ended December&#160;31, 2020 was $2.0 million (2019 - loss of $0.5&#160;million) and was recorded through profit or loss.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As consideration for the acquisition of the Springpole Silver Stream (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">14(c)</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">), the Company received 30 million common share purchase warrants of First Mining Gold Corp., each of which will entitle the Company to purchase one common share of First Mining at CAD$0.40 over a period of five years. The fair value of the warrants was measured at $5.7 million using the Black-Scholes model at the time of the acquisition, and subsequently remeasured at $4.7 million at December&#160;31, 2020.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.42pt">Fair Value through Other Comprehensive Income (&#34;FVTOCI&#34;) Marketable Securities</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in fair value of marketable securities designated as FVTOCI for the year ended December 31, 2020 was $10.5&#160;million (2019 - $0.3 million), net of tax, and was recorded through other comprehensive income and will not be transferred into earnings or loss upon disposition or impairment. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As part of the consideration received for the option arrangement of the La Joya Project (see Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">14(d)</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">), in September 2020, the Company received 5,146,401 common shares of Silver Dollar Resources Inc. (&#34;Silver Dollar&#34;) with a fair value of $6.9&#160;million. In September and December 2020, the Company participated in two private placements of Silver Dollar to acquire an additional 700,000 common shares for $0.7 million. As at December&#160;31, 2020, the fair value of these shares was $8.6&#160;million.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As part of consideration received for the sale of the Plomosas Silver Project (see Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">14</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_91" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">(e)</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">), the Company received 17,097,500 common shares of GR Silver Mining Ltd. with a fair value of $1.7 million on March 27, 2020. In May 2020, the Company participated in a private placement by GR Silver Mining Ltd. (&#34;GR Silver&#34;) and for $0.8 million acquired an additional 4,000,000 shares with 2,000,000 one-year warrants with a strike price of CAD$0.40 per share. As at December&#160;31, 2020, the fair value of these shares was $12.9 million. These shares are designated as FVTOCI marketable securities while the warrants are designated as FVTPL marketable securities. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 26</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_91"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">14.  MINING INTERESTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mining interests primarily consist of acquisition, development and exploration costs directly related to the Company&#8217;s operations and projects. Upon commencement of commercial production, mining interests for producing properties are depleted on a units-of-production basis over the estimated economic life of the mine. In applying the units of production method, depletion is determined using quantity of material extracted from the mine in the period as a portion of total quantity of material, based on reserves and resources, considered to be highly probable to be economically extracted over the life of mine plan.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s mining interests are comprised of the following&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletable properties</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$392,185&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$367,348&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-depletable properties (exploration and evaluation costs)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">117,545&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">96,043&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$509,730</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$463,391</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depletable properties are allocated as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.765%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.747%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Depletable properties</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Non-producing</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Properties</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$193,305</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$45,041</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$99,436</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$478,883</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$816,665</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,596&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,813&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,995&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,088&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">46,492&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Change in decommissioning liabilities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">301&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,338&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">500&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,161&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,300&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfer from exploration properties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,456&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,462&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,659&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,577&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$220,658</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$61,654</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$111,590</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$494,132</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$888,034</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,263&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,218&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,201&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">31,682&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Change in decommissioning liabilities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,527&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,191&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,049&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,059&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,826&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfer from exploration properties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,645&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,229&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">472&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,346&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$250,093</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$73,292</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$118,312</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$497,191</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$938,888</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="12" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Accumulated depletion, amortization and impairment</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($10,871)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($11,594)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($59,872)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($380,677)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($463,014)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depletion and amortization</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(16,354)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5,014)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6,025)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(7,677)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(35,070)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Impairment </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(22,602)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(22,602)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($27,225)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($16,608)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($88,499)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($388,354)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($520,686)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depletion and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(18,277)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,792)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,948)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(26,017)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($45,502)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($20,400)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($92,447)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($388,354)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($546,703)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Carrying values</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$193,433</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$45,046</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$23,091</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$105,778</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$367,348</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$204,592</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$52,892</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$25,865</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$108,837</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$392,185</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 27</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">14.  MINING INTERESTS (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-depletable properties costs are allocated as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.871%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-depletable</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">properties</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">San Dimas</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(a)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Santa</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Elena</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(b)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">La Encantada&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-producing</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Properties</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exploration Projects</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Springpole</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Stream</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(c)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">At</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31,</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2018</font></div></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3,705</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$14,316</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$5,660</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$24,841</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$33,440</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$81,962</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exploration and evaluation expenditures</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,450&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,738&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,164&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,097&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,032&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,481&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in decommissioning liabilities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,061)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,061)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to producing properties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,456)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,462)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,659)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,577)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">At</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31,</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</font></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8,699</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$18,592</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$1,104</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$32,938</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$34,710</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$96,043</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exploration and evaluation expenditures</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,125&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,588&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,323&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,066&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,142&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,356&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43,601&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in decommissioning liabilities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_115" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of exploration project</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13,812)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13,812)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to producing properties</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,645)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,229)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(472)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,346)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$17,179</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$33,951</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$2,955</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$37,004</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$22,099</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$4,356</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$117,545</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines.</font></div><div style="margin-top:3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Exploration projects include the La Luz, La Joya, Los Amoles, Jalisco Group of Properties and Jimenez del Tuel projects, as well as the Plomosas project which was sold during 2020.</font></div><div><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">San Dimas Silver&#47;Gold Mine, Durango State</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2018, the San Dimas Mine is subject to a gold and silver streaming agreement with WPMI which entitles WPM to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1 gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment commencing in May 2019) and the prevailing market price, for each gold ounce delivered. Should the average gold to silver ratio over a six month period exceed 90&#58;1 or fall below 50&#58;1, the fixed exchange ratio would be increased to 90&#58;1 or decreased to 50&#58;1, respectively. The fixed gold to silver exchange ratio was revised to 90&#58;1 on April 1, 2020 and reverted to 70&#58;1 on October 14, 2020 after the average gold to silver price ratio over a six month period fell back below 90&#58;1. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.42pt">Santa Elena Silver&#47;Gold Mine, Sonora State</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Santa Elena Mine is subject to a gold streaming agreement with Sandstorm, which requires the mine to sell 20% of its life of mine gold production from its leach pad and a designated area of its underground operations to Sandstorm. The selling price to Sandstorm is currently the lesser of $464 per ounce, subject to a 1% annual inflation increase every April, and the prevailing market price. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Springpole Silver Stream, Ontario, Canada </font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On July 2, 2020, the Company completed an agreement with First Mining Gold Corp. (&#8220;First Mining&#8221;) to purchase 50% of the life of mine payable silver produced from the Springpole Gold Project (&#34;Springpole Silver Stream&#34;), a development stage mining project located in Ontario, Canada. Pursuant to the agreement, First Majestic agreed to pay First Mining consideration of $22.5 million in cash and shares, in three milestone payments, for the right to purchase silver at a price of 33% of the silver spot price per ounce, to a maximum of $7.50 per ounce (subject to annual inflation escalation of 2%, commencing at the start of the third anniversary of production). Commencing with its production of silver, First Mining must deliver 50% of the payable silver which it receives from the offtaker within five business days of the end of each quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 28</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">14.  MINING INTERESTS (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Springpole Silver Stream, Ontario, Canada (continued)</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transaction consideration paid and payable by First Majestic is summarized as follows&#58;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The first payment of $10.0 million, consisting of $2.5&#160;million in cash and $7.5 million in First Majestic shares (805,698 common shares) was paid to First Mining on July 2, 2020&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The second payment consisting of $3.75 million in cash and $3.75 million in First Majestic shares (287,300 common shares) was paid on January 21, 2021 upon the completion and public announcement by First Mining of the results of a Pre-Feasibility Study for Springpole&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The third payment consisting of $2.5 million in cash and $2.5 million in First Majestic shares (based on 20 days volume weighted average price) will be paid upon receipt by First Mining of a Federal or Provincial Environmental Assessment approval for Springpole.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the agreement, First Mining also granted First Majestic 30 million common share purchase warrants, each of which will entitle the Company to purchase one common share of First Mining at CAD$0.40 over a period of five years. The fair value of the warrants was measured at $5.7 million using the Black-Scholes model.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Mining shall have the right to repurchase 50% of the silver stream for $22.5 million at any time prior to the commencement of production at Springpole leaving the Company with a reduced silver stream of 25% of life of mine payable silver production. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, the Company has paid $10.0 million in consideration to First Mining as part of the agreement, of which $5.7 million was allocated to other financial assets and $4.3 million was allocated to the Springpole Silver Stream recognized within exploration and evaluation assets. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Mining is a related party with two independent board members who are also directors and&#47;or officers of First Majestic.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(d)   La Joya Silver Project, Durango, Mexico</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2020, the Company entered into a five year option agreement with Silver Dollar Resources Inc. (&#34;Silver Dollar&#34;), which gives Silver Dollar the option to earn an initial 80% interest in the Company's La Joya Project, following the exercise of which it may earn an additional 20% for an aggregate 100% interest.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To exercise its first option to acquire an 80% interest in the La Joya Project, Silver Dollar will pay the Company CAD$1.3 million in cash over four years, issue shares equal to 19.9% of Silver Dollar's then-outstanding common shares within one year, incur $1 million of exploration expenditures within the first five years, and grant First Majestic a 2% net smelter returns royalty. If Silver Dollar incurs the exploration expenditures within the first three years&#59; however, First Majestic will waive the remaining $0.6 million of the cash option payments.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Silver Dollar may exercise its second option and acquire the remaining 20% (for an aggregate 100% interest) of the La Joya Project by providing notice to First Majestic within 30 days of earning the first 80% interest and issuing to First Majestic additional shares equal to 5% of Silver Dollar's then-outstanding common shares within five years. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, the Company received $0.3 million in cash and 5,146,401 common shares with a fair value of $6.9 million from Silver Dollar. The Company deducted proceeds received from Silver Dollar from the carrying value of the La Joya project ($0.6 million), reducing its carrying value to $nil and recognized the remaining $6.5 million of proceeds as a gain on divestiture of exploration project.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(e)   Plomosas Silver Project, Sinaloa, Mexico</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the Company divested its subsidiary Minera La Rastra, S.A. de C.V. (&#34;MLR&#34;), which holds the Plomosas Silver Project, to GR Silver for total consideration of $1.7 million, consisting of 17,097,500 common shares of GR Silver with a fair value on the measurement date of $1.7 million, CAD$0.1&#160;million in cash and a 2% net smelter return royalty (&#34;NSR&#34;). GR Silver has the option to repurchase half of the NSR for CAD$1.0 million. As at the date of the transaction, MLR had a carrying value of $11.8 million, including $13.1 million in mining interests, resulting in a loss of $10.2 million on the disposal.</font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 29</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_94"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">15.  PROPERTY, PLANT AND EQUIPMENT</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of the Company's property, plant and equipment is used in the Company's operating mine segments. Property, plant and equipment is depreciated using either the straight-line or units-of-production method over the shorter of the estimated useful life of the asset or the expected life of mine. Where an item of property, plant and equipment comprises of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment. Assets under construction are recorded at cost and re-allocated to land and buildings, machinery and equipment or other when they become available for use. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property,&#160;plant&#160;and&#160;equipment&#160;are&#160;comprised&#160;of&#160;the&#160;following&#58;&#160;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.443%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.157%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.872%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Land and Buildings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Machinery and Equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Assets under Construction</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$177,864</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$430,862</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$35,673</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$23,410</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$667,809</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,991&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">44,709&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">521&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47,221&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,548&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">23,802&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(52,737)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">507&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(7,880)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$198,412</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$456,655</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$27,645</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$24,438</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$707,150</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,096&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47,266&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">391&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">49,753&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">917&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,873&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19,242)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,822&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,630)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$199,329</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$468,624</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$55,669</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$28,651</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$752,273</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="12" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Accumulated depreciation, amortization and impairment</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($111,258)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($291,959)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($13,508)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($416,725)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,980)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(23,829)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,122)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(30,931)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">271&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,189&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">459&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,919&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Impairment </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(13,073)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(15,701)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(28,774)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($129,040)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($326,300)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($15,171)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($470,511)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,188)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19,833)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,555)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(26,576)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,754&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">208&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,034&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($133,156)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($343,379)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($17,518)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($494,053)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Carrying values</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$69,372</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$130,355</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$27,645</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$9,267</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$236,639</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$66,173</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$125,245</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$55,669</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$11,133</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$258,220</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)  Included&#160;in&#160;land&#160;and&#160;buildings&#160;is&#160;$11.2 million&#160;(2019 -&#160;$11.5&#160;million)&#160;of&#160;land&#160;which&#160;is&#160;not&#160;subject&#160;to&#160;depreciation.</font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(2) Assets under construction includes certain innovation projects, such as high-intensity grinding (&#34;HIG&#34;) mills and related modernization, plant improvements, other mine infrastructures and equipment overhauls.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 30</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">15.  PROPERTY, PLANT AND EQUIPMENT (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment, including land and buildings, machinery and equipment, assets under construction and other assets above are allocated by mine as follow&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:24.630%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.606%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Non-producing</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Properties</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$127,763</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$76,671</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$132,146</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$299,037</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$32,192</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$667,809</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,465&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,453&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,066&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,073&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,164&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47,221&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,925)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,638&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">90&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,870)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(10,813)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(7,880)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$136,303</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$90,762</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$137,302</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$297,240</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$45,543</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$707,150</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,384&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,933&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,209&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">272&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26,955&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">49,753&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,364)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,999&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,751)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,555)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,630)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$146,728</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$97,331</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$143,510</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$293,761</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$70,943</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$752,273</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="21" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Accumulated depreciation,<br>amortization and impairment</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($7,545)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($37,007)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($89,086)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($265,811)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($17,276)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($416,725)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(12,355)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6,989)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5,278)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,378)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,931)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(30,931)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">153&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,021&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">572&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,999&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">174&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,919&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Impairment </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(28,774)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(28,774)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($19,747)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($42,975)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($122,566)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($266,190)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($19,033)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($470,511)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(15,032)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6,451)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,646)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(592)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,855)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(26,576)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">156&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,340&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,743)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,909&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">372&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,034&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($34,623)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($48,086)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($126,955)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($263,873)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($20,516)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($494,053)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Carrying values</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$116,556</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$47,787</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$14,736</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$31,050</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$26,510</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$236,639</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$112,105</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$49,245</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$16,555</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$29,888</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$50,427</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$258,220</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines.</font></div><div style="margin-top:3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Additions classified in &#34;Other&#34; primarily consist of innovation projects and construction-in-progress.</font></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 31</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_97"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">16.  RIGHT-OF-USE ASSETS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company entered into operating leases to use certain land, building, mining equipment and corporate equipment for its operations. The Company is required to recognize right-of-use assets representing its right to use these underlying leased asset over the lease term. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Right-of-use asset is initially measured at cost, equivalent to its obligation for payments over the term of the leases, and subsequently measured at cost less accumulated depreciation and impairment losses. Depreciation is recorded on a straight-line basis over the shorter period of lease term and useful life of the underlying asset. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Right-of-use assets&#160;are&#160;comprised&#160;of&#160;the&#160;following&#58;&#160;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:38.138%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.541%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.541%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.541%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.543%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Land and Buildings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Machinery and Equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Initial adoption</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,624&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,036&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,682&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">571&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,132&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,703&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,686&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">232&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,918&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(674)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,286)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,967)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impairment</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,302)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,302)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,207</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$7,812</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$15</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$12,034</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,939&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">554&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,494&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,789&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,779&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(848)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,106)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,961)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(16)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(16)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$8,087</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,234</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$8</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$14,330</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_100"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">17.  IMPAIRMENT OF NON-CURRENT ASSETS</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company did not identify any indicators of potential impairment or impairment reversal on its non-current assets and CGUs during the year ended December&#160;31, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December 31, 2019, the Company determined that the La Encantada mine had an indicator of potential impairment on its non-current assets due to a decrease in economics of the roaster project and mine plan. Based on the Company&#8217;s assessment in 2019, the Company concluded that the La Encantada mine had estimated recoverable value, based on its FVLCD, below its carrying value and impairment charge was required&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:79.747%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:17.323%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31, 2019</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Impairment of non-current assets</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$58,739</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax recovery</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,300)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Impairment of non-current assets, net of tax</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$52,439</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The impairment charge recognized for the year ended December 31, 2019 in respect of La Encantada was allocated as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:29.545%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.803%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.803%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.806%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mining interests</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Right of use assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Property, plant and equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Producing</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exploration</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Encantada Silver Mine</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$22,602&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,061&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$6,302&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$28,774&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$58,739&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recoverable values are determined based on fair market value of the asset and estimated using internal discounted cash flow economic models projected using management&#8217;s best estimate of recoverable mineral reserves and resources, future operating costs, capital expenditures and long-term foreign exchange rates.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 32</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">17.  IMPAIRMENT OF NON-CURRENT ASSETS (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Metal price assumptions used to determine the recoverable amounts for the year ended December 31, 2019 are summarized in the following table&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.414%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.911%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.915%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Commodity Prices</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020-2023 <br>Average</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Long-term</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver (per ounce)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$18.84&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$19.50&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold (per ounce)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,536&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,416&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A discount rate of 4.5%, equivalent to the Company&#8217;s weighted average cost of capital for the year ended December 31, 2019 was used to determine FVLCD based on an internal discounted cash flow economic model. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The internal discounted cash flow economic model used to determine FVLCD is significantly affected by changes in key assumptions for future metal prices, Reserve and Resource levels and recovery rates. Management&#8217;s estimate of FVLCD is classified as level 3 in the fair value hierarchy. There was no material change in the valuation techniques utilized to determine FVLCD in the year ended December&#160;31, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_103"></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">18.  TRADE AND OTHER PAYABLES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s trade and other payables are primarily comprised of amounts outstanding for purchases relating to mining operations, exploration and evaluation activities and corporate expenses. The normal credit period for these purchases is usually between 30 to 90 days.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Trade and other payables are comprised of the following items&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$31,262&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$23,984&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade related accruals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,635&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,314&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payroll and related benefits</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,427&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,059&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Environmental duty</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,156&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,483&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other accrued liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,522&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,283&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$76,002</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$59,123</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 33</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_109"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:65.25pt;text-indent:-67.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">19.  DEBT FACILITIES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in debt facilities during the year ended December 31, 2020 and year ended December 31, 2019, respectively, are comprised of the following&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:61.803%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.190%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.192%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Convertible Debentures<br>(a)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revolving Credit Facility <br>(b)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2018</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$130,807</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,705</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$149,512</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,975&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,498&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,473&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,758&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">654&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,412&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments of finance costs</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,933)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,646)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,579)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2019</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$136,607</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$19,211</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$155,818</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,984&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">763&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,747&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,168&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">678&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,846&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from drawdown of Revolving Credit Facility</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,000&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,000&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of principal</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(19,969)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(19,969)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments of finance costs</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,934)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(801)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,735)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$142,825</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$9,882</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$152,707</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Financial Position Presentation</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of debt facilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,043&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$132&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,175&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of debt facilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">135,564&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,079&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">154,643&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2019</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$136,607</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$19,211</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$155,818</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of debt facilities</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,092&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$9,882&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10,975&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of debt facilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">141,733&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">141,733&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$142,825</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$9,882</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$152,707</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Convertible Debentures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the first quarter of 2018, the Company issued $156.5 million of unsecured senior convertible debentures (the &#8220;Notes&#8221;). The Company received net proceeds of $151.1 million after transaction costs of $5.4 million. The Notes mature on March 1, 2023 and bear an interest rate of 1.875% per annum, payable semi-annually in arrears in March and September of each year. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Notes are convertible into common shares of the Company at any time prior to maturity at a conversion rate of 104.3297 common shares per $1,000 principal amount of Notes converted, representing an initial conversion price of $9.59 per common share, subject to certain anti-dilution adjustments. In addition, if certain fundamental changes occur, holders of the Notes may be entitled to an increased conversion rate. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company may not redeem the Notes before March 6, 2021, except in the event of certain changes in Canadian tax law. At any time on or after March 6, 2021 and until maturity, the Company may redeem all or part of the Notes for cash if the last reported share price of the Company&#8217;s common shares for 20 or more trading days in a period of 30 consecutive trading days exceeds 130% of the conversion price or $12.47 per common share. The redemption price is equal to the sum of&#58; (i) 100% of the principal amount of the notes to be redeemed and (ii) accrued and unpaid interest, if any, to the redemption date. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is required to offer to purchase for cash all of the outstanding Notes upon a fundamental change, at a cash purchase price equal to 100% of the principal amount of the Notes to be purchased, plus accrued and unpaid interest, if any, to the fundamental change purchase date. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 34</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:65.25pt;text-indent:-67.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">19.  DEBT FACILITIES (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:5.73pt">Convertible Debentures (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The component parts of the convertible debentures, a compound instrument, are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. A conversion option that will be settled by the exchange of a fixed amount of cash or another financial asset for a fixed number of the Company's own equity instrument is an equity instrument.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At initial recognition, net proceeds of $151.1 million from the Notes were allocated into its debt and equity components. The fair value of the debt portion was estimated at $124.8 million using a discounted cash flow model method with an expected life of five years and a discount rate of 6.14%. This amount is recorded as a financial liability on an amortized cost basis using the effective interest method using an effective interest rate of 6.47% until extinguished upon conversion or at its maturity date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The conversion option is classified as equity and was estimated based on the residual value of $26.3 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves. Deferred tax liability of $7.1 million related to taxable temporary difference arising from the equity portion of the convertible debenture was recognized in equity reserves. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transaction costs of $5.4 million that relate to the issuance of the convertible debentures were allocated to the liability and equity components in proportion to the allocation of the gross proceeds. Transaction costs relating to the equity component are recognized directly in equity. Transaction costs relating to the liability component are included in the carrying amount of the liability component and are amortized over the life of the convertible debentures using the effective interest method.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.42pt">Revolving Credit Facility</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 10, 2018, the Company entered into a $75.0 million senior secured revolving credit facility (&#34;Revolving Credit Facility&#34;) with the Bank of Nova Scotia, Bank of Montreal and Investec Bank PLC, as lenders. The Revolving Credit Facility will mature on its third anniversary date on May 10, 2021. Interest on the drawn balance will accrue at LIBOR plus an applicable range of 2.25% to 3.5% while the undrawn portion is subject to a standby fee with an applicable range of 0.5625% to 0.875%, dependent on certain financial parameters of First Majestic. As at December&#160;31, 2020, the applicable rates were 2.9% to 0.6875%, respectively. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These debt facilities are guaranteed by certain subsidiaries of the Company and are also secured by a first priority charge against the assets of the Company, and a first priority pledge of shares of the Company&#8217;s subsidiaries.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Revolving Credit Facility includes financial covenants, to be tested quarterly on a consolidated basis, requiring First Majestic to maintain the following&#58; (a) a leverage ratio based on total debt to rolling four quarters adjusted EBITDA of not more than 3.00 to 1.00&#59; (b) an interest coverage ratio, based on rolling four quarters adjusted EBITDA divided by interest payments, of not less than 4.00 to 1.00&#59; and (c) tangible net worth of not less than $563.5 million plus 50% of its positive earnings subsequent to June&#160;30, 2018. The debt facilities also provide for negative covenants customary for these types of facilities and allows the Company to enter into finance leases up to $30.0 million. As at December&#160;31, 2020 and December 31, 2019, the Company was in compliance with these covenants.</font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 35</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_112"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:65.25pt;text-indent:-67.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">20.  LEASE LIABILITIES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has finance leases, operating leases and equipment financing liabilities for various mine and plant equipment, office space and land. Finance leases and equipment financing obligations require underlying assets to be pledged as security against the obligations and all of the risks and rewards incidental to ownership of the underlying asset being transferred to the Company. For operating leases, the Company controls but does not have ownership of the underlying right-of-use assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's incremental borrowing rate. Lease liabilities are subsequently measured at amortized cost using the effective interest rate method. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain lease agreements may contain lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as vehicles, the Company has elected to account for the lease and non-lease components as a single lease component. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in lease liabilities during the year ended December 31, 2020 and year ended December 31, 2019 are comprised of the following&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.829%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.624%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Finance Leases<br>(a)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating Leases<br>(b)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equipment Financing<br>(c)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2018</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$409</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$5,438</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$5,847</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Initial adoption of IFRS 16 </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,682&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,682&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,706&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,706&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,918&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,918&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">789&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">335&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,142&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of principal</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(359)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,395)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,459)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,213)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments of finance costs</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(18)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(379)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(397)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange loss</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$50</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,951</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,935</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$21,936</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,494&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,494&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,779&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,779&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,396&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,479&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of principal</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(50)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,353)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,303)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,706)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments of finance costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(126)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(126)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(281)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(281)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$19,986</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$589</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$20,575</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Financial Position Presentation</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$50&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$4,518&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2,352&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$6,920&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of lease liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,433&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">583&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,016&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2019</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$50</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,951</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,935</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$21,936</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$4,820&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$538&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$5,358&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of lease liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,166&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,217&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$19,986</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$589</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$20,575</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Finance Leases</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From time to time, the Company may purchase equipment under finance leases with terms ranging from 24 to 48 months. As at December&#160;31, 2020, the Company has fully repaid all of its finance leases and all pledges on related property, plant and equipment have been released. </font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 36</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:65.25pt;text-indent:-67.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td></tr></table></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">20.  LEASE LIABILITIES (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)   Operating Leases</font></div><div style="margin-top:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases primarily relate to equipment and building rental contracts, land easement contracts and service contracts that contain embedded leases for property, plant and equipment. These operating leases have remaining lease terms of one to ten years, some of which include options to terminate the leases within a year, with incremental borrowing rates ranging from 5.8% to 12.4%.</font></div><div style="margin-top:3pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December 31, 2020 and 2019, the amounts of lease payments recognized in the profit and loss are summarized as follows&#58;</font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:64.397%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.835%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.130%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended<br>December 31, 2020</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended<br>December 31, 2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expenses relating to variable lease payments not included in <br>    the measurement of lease liability</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$25,560</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14,241</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expenses relating to short-term leases</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,607&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42,994&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expenses relating to low value leases</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">81</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$45,248</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$57,235</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Equipment Financing</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2017, the Company entered into a $7.9 million credit facility with repayment terms ranging from 12 to 16 equal quarterly installments in principal plus related interest. The facility bears an interest rate of LIBOR plus 4.60%. Proceeds from the equipment financing were primarily used for the purchase and rehabilitation of property, plant and equipment. The equipment financing is secured by certain equipment of the Company and is subject to various covenants, including the requirement for First Majestic to maintain a leverage ratio based on total debt to rolling four quarters adjusted EBITDA. As at December&#160;31, 2020 and year ended December&#160;31, 2019, the Company was in compliance with these covenants.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, the net book value of property,&#160;plant&#160;and&#160;equipment&#160;includes $1.9 million&#160;(2019 - $3.3&#160;million)&#160;of&#160;equipment&#160;pledged as security for the equipment financing.</font></div><div style="text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_115"></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">21.  DECOMMISSIONING LIABILITIES</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has an obligation to undertake decommissioning, restoration, rehabilitation and environmental work when environmental disturbance is caused by the development and ongoing production of a mining operation. Movements in decommissioning liabilities during the years ended December&#160;31, 2020 and 2019 are allocated as follow&#58;</font></div><div style="margin-bottom:11pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:23.569%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.270%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">San Martin</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">La Parrilla</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Del Toro</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">La Guitarra</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">La Luz</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2018</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8,412</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$2,321</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6,709</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$2,694</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3,245</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$2,498</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$1,615</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$302</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$27,796</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements during the year&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in rehabilitation provision</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">301&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,338&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,051&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">696&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">945&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,538&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reclamation costs incurred</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(104)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(104)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest or accretion expense</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">744&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">207&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">592&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">237&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">282&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,410&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange loss</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">311&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">888&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2019</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$9,442</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$4,971</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8,112</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$7,103</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$4,337</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3,769</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$2,178</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$616</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$40,528</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements during the year&#58;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposition of exploration project</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(153)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(153)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in rehabilitation provision</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,527&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,191&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,049&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,240&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">830&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">772&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,885&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reclamation costs incurred</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(55)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(81)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(156)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest or accretion expense</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">565&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">295&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">477&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">418&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">226&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,362&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange loss</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(476)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(252)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(415)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(359)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(216)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(190)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,995)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$14,059</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6,150</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$10,223</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8,321</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$5,190</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$4,577</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$2,278</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$673</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$51,471</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 37</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">21.  DECOMMISSIONING LIABILITIES (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A provision for decommissioning liabilities is estimated based on current regulatory requirements and is recognized at the present value of such costs. The expected timing of cash flows in respect of the provision is based on the estimated life of the  Company's mining operations. The discount rate is a risk-free rate determined based on Mexican pesos default swap rates ranging between 5.0% to 5.3% (2019 - 6.6% to 6.8%) for the respective estimated life of the operations. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The inflation rate used is based on historical Mexican inflation rate of 3.9% (2019 - 4.0%). The present value of reclamation liabilities may be subject to change based on changes to cost estimates, remediation technologies or applicable laws and regulations. Changes in decommissioning liabilities are recorded against mining interests.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_118"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  INCOME TAXES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a reconciliation of income taxes calculated at the combined Canadian federal and provincial statutory tax rate to the income tax expense for the year ended December&#160;31, 2020 and 2019&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.999%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">before</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">tax</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$29,729</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($39,024)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Combined statutory tax rate</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.00&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.00&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income tax expense (recovery) computed at statutory tax rate</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8,027</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(10,536)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Reconciling</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">items&#58;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Effect of different foreign statutory tax rates on&#160;earnings of subsidiaries</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,760)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(24,320)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impact of foreign exchange on deferred income tax&#160;assets and liabilities</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,688&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,194)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Change in unrecognized deferred income tax asset</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,596)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,399&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5% mining royalty in Mexico</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,415&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(814)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-deductible expenses</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">758&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,256&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impact of inflationary adjustments</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,317)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,412)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Change in tax provision estimates</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,387&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,987&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impact of divestitures and restructurings</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(16,724)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,236)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,916)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">tax expense</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,642</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,450</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Earnings (Loss) Presentation</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax expense</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$9,966&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$16,423&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax recovery</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,324)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,973)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">tax expense</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,642</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,450</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effective tax rate</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">22</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1.5pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1.5pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</font></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As at December&#160;31, 2020 and 2019, the Company has the following income tax receivable and payable balances&#58;</font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.999%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax receivable</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current income tax receivable</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,579&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,579</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax payable</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$6,574&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$149&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current income tax payable</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,099&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$29,673</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$149</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 38</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  INCOME TAXES (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the years ended December&#160;31, 2020 and 2019, the movement in deferred tax assets and deferred tax liabilities is shown as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.057%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.227%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.160%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Losses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Provisions </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Deferred tax asset not recognized </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Other </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Total </font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$118,393</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$16,508</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($68,348)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$3,556</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$70,109</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Benefit (expense) to income statement</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,079&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,379&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(32,156)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,295&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13,403)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Charged to equity</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">994&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">994&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$126,472</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$22,887</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($100,504)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$8,845</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$57,700</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Benefit to income statement</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,327&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,389&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,788&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">456&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,960&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$147,799</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$25,276</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,716)</font></td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$9,301</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$93,660</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Property, plant and equipment and mining interests</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effect of <br>Mexican tax deconsolidation</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Other </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Total </font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2018</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$65,382</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,744</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$37,688</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$109,814</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Benefit) expense to income statement</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(32,381)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">498&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,643)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(36,526)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassed to current income taxes payable</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,813)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,813)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$33,001</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,429</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$33,045</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$70,475</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Benefit) expense to income statement</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,883&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(113)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(18,311)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,459&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassed to current income taxes payable</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,245)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,245)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Charged to OCI</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,633&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,633&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Divestiture of exploration projects</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,577)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,577)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$56,884</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,071</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$13,790</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$72,745</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Financial Position Presentation</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$51,141&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">63,916&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2019</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$12,775</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$69,644&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48,729&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2020</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($20,915)</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:13pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2020, the Company recognized $69.6 million (2019 - $51.1 million) of net deferred tax assets in entities that have had a loss for tax purposes in either 2020 or 2019, or both. In evaluating whether it is probable that sufficient taxable income will be generated to realize the benefit of these deferred tax assets, the Company considered all available evidence, including approved budgets, forecasts and business plans and, in certain cases, tax planning opportunities. </font></div><div style="margin-bottom:13pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The aggregate amount of taxable temporary differences associated with investments in subsidiaries for which deferred taxes have not been recognized, as at December&#160;31, 2020 was $236.5 million (2019 - $379.3 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 39</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  INCOME TAXES (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020 and 2019, the Company has available Canadian, Swiss and Mexican non-capital tax losses, which if not utilized will expire as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.642%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.835%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.835%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.496%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.502%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year of expiry</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Canadian <br>non-capital losses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Mexican<br>non-capital losses </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2020</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">544&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2021</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,835&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,835&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,825&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2022</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,878&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,878&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,060&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2023</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,071&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,071&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,213&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34,964&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34,964&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2025</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38,901&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38,901&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51,911&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104,044&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104,044&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">113,630&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2027</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,040&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,040&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">56,760&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2028</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57,809&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57,809&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,315&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2029</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68,074&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68,074&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,754&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2030 and after</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,141&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">149,721&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">152,862&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,209&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$3,141</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$484,337</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$487,478</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$487,540</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Unrecognized losses</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$199,775</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$199,775</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$208,253</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_121"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">23.  SHARE CAPITAL</font></div><div><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Authorized and issued capital</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has unlimited authorized common shares with no par value. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in the Company&#8217;s issued and outstanding capital during the year is summarized in the consolidated statements of changes in equity.</font></div><div style="padding-left:36pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:45.112%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.086%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31, 2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of Shares</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net Proceeds</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of Shares</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net Proceeds</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">ATM program</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,654,338&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$67,892</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,172,982&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$81,916</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prospectus offering</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,000,000&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,240</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,654,338</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$126,132</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,172,982</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$81,916</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1) In December 2018, and subsequently amended in August 2019 and June 2020, the Company filed prospectus supplements to its short form base shelf prospectus, pursuant to which the Company may, at its discretion and from time-to-time, sell common shares of the Company for aggregate gross proceeds of up to $200.0&#160;million. The sale of common shares is to be made through &#8220;at-the-market distributions&#8221; (&#34;ATM&#34;),&#160;as defined in the Canadian Securities Administrators&#8217; National Instrument&#160;44-102 Shelf Distributions, directly on the New York Stock Exchange. During the year ended December&#160;31, 2020, First Majestic sold 5,654,338 common shares (December 31, 2019 - 11,172,982 common shares) of the Company under the ATM program at an average price of $12.31 (2019 - $7.55) for gross proceeds of $69.6&#160;million (December&#160;31, 2019 - $84.4 million), or net proceeds of $67.9&#160;million (December 31, 2019 - $81.9 million) after costs. At December&#160;31, 2020, the Company completed $154.0 million of the ATM program and the remaining $46.0 million balance of the program has been cancelled.</font></div><div style="padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2) In September 2020, the Company completed a bought deal prospectus offering to sell 5,000,000 common shares at a price of $11.82 (CAD$15.60) per common share for gross proceeds of $59.1 million (CAD$78.1 million), or net proceeds of $58.2 million after costs. </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 40</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">23.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.42pt">Stock options </font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the terms of the Company&#8217;s 2020 Long-Term Incentive Plan (&#34;LTIP&#34;), the maximum number of shares reserved for issuance under the LTIP is 8% of the issued shares on a rolling basis. Options may be exercisable over periods of up to ten years as determined by the Board of Directors of the Company and the exercise price shall not be less than the closing price of the shares on the day preceding the award date, subject to regulatory approval. All stock options granted are subject to vesting with 25% vesting on first anniversary from the date of grant, and 25% vesting each six months thereafter.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes information about stock options outstanding as at December&#160;31, 2020&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:97.222%"><tr><td style="width:1.0%"></td><td style="width:18.749%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.982%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.982%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.982%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.990%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160; &#160;&#160;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Options Outstanding</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> &#160;&#160;&#160;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160; &#160;&#160;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Options Exercisable</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> &#160;&#160;&#160;</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exercise prices (CAD$)</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Remaining Life (Years)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Remaining Life (Years)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.80 - 10.00</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,821,206&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.60&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.70&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,323,015&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.67&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.07&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10.01 - 15.00</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,276,063&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.23&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.96&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,833,567&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.12&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.46&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">15.01 - 20.00</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">831,928&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.95&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.59&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">117,232&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.04&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.14&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20.01 - 126.01</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">144,895&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53.85&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.68&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">144,895&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53.85&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.68&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,074,092&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.07&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.27&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,418,709&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.15&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.59&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in stock options issued during the years ended December 31, 2020 and 2019 are summarized as follows&#58; </font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:34.398%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.156%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.555%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.761%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.555%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.156%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.555%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.764%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance, beginning of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,583,439&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.70&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,266,098&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.76&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,621,924&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.46&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,601,680&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.83&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exercised</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,473,926)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.50&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,918,518)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.54&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cancelled or expired</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(657,345)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.96&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,365,821)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.31&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance, end of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,074,092&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.07&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,583,439&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.70&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December&#160;31, 2020, the aggregate fair value of stock options granted was $12.1 million (December&#160;31, 2019 - $8.5&#160;million), or a weighted average fair value of $4.63 per stock option granted (December 31, 2019 - $3.26).</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%">During the year ended December&#160;31, 2020, total share-based payments expense related to stock options was $7.0 million (2019 - $6.5 million).</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 41</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">23.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.42pt">Stock options (continued)</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following weighted average assumptions were used in estimating the fair value of stock options granted using the Black-Scholes Option Pricing Model&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:97.222%"><tr><td style="width:1.0%"></td><td style="width:22.509%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:37.847%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.193%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.551%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.798%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assumption</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Based</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">on</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate (%)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Yield curves on Canadian government zero- coupon bonds with a remaining term equal to the stock options&#8217; expected life</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.03</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.01</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (years)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average of the expected vesting term and expiry term of the option</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.83</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.80</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected volatility (%)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Historical and implied volatility of the precious metals mining sector</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49.00</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51.29</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield (%)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Annualized dividend rate as of the date of grant</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr></table></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The weighted average closing share price at date of exercise for the year ended December&#160;31, 2020 was CAD$15.61 (December&#160;31, 2019 - CAD$12.81).</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)    Restricted Share Units </font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company adopted the 2019 LTIP to allow the Company to grant to its directors, employees and consultants non-transferable Restricted Share Units (&#34;RSU's&#34;) based on the value of the Company's share price at the date of grant. Unless otherwise stated, the awards typically have a graded vesting schedule over a three-year period and can be settled either in cash or equity upon vesting at the discretion of the Company. The Company intends to settle all RSU's in equity.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The associated compensation cost is recorded as share-based payments expense against equity reserves. </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in RSU's for the years ended December&#160;31, 2020 and 2019&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:44.809%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.235%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31, 2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value <br>(CAD$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value <br>(CAD$)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Outstanding, beginning of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">128,944&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.36&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">211,192&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.72&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">274,520&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.67&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Settled</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(127,000)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.32&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(145,576)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.06&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Forfeited</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(28,653)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.93&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Outstanding, end of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">184,483&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.66&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">128,944&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.36&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%">During the year ended December&#160;31, 2020, total share-based payments expense related to RSUs was $0.8 million (2019 - $1.8 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 42</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">23.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(d) &#160;&#160;&#160;&#160;Performance Share Units </font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company adopted the 2019 LTIP to allow the Company to grant to its directors, employees and consultants non-transferable Performance Share Units (&#34;PSU's&#34;). The amount of units to be issued on the vesting date will vary from 0% to 200% of the number of PSU&#8217;s granted, depending on the Company&#8217;s total shareholder return compared to the return of a selected group of peer companies. Unless otherwise stated, the awards typically vest three years from the grant date. The fair value of a PSU based on the value of the Company's share price at the date of grant and will be adjusted based on actual units issued on the vesting date. The Company intends to settle all PSU's in equity.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in PSU's granted to employees and consultants for the year ended December&#160;31, 2020&#58;&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:73.786%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.456%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.458%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31, 2020</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value<br>(CAD$)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Outstanding, beginning of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">122,575&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.65&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Forfeited</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13,540)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(15.93)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Outstanding, end of the year</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">109,035&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19.57&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%">During the year ended December&#160;31, 2020, total share-based payments expense related to PSUs was $0.5 million (2019 - $nil).</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(e) &#160;&#160;&#160;&#160;Share Repurchase Program</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has an ongoing share repurchase program to repurchase up to 5% of the Company&#8217;s issued and outstanding shares. The normal course issuer bids will be carried through the facilities of the Toronto Stock Exchange and alternative Canadian marketplaces. During the year ended December&#160;31, 2020, the Company repurchased and cancelled 275,000 common shares for a total consideration of $1.7 million through a normal course issuer bid in the open market as approved by the Toronto Stock Exchange. No shares were repurchased during the year ended December&#160;31, 2019.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_124"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s financial instruments and related risk management objectives, policies, exposures and sensitivity related to financial risks are summarized below.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:107%">(a) &#160;&#160;&#160;&#160;Fair value and categories of financial instruments</font></div><div style="padding-left:18pt;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments included in the consolidated statements of financial position are measured either at fair value or amortized cost. Estimated fair values for financial instruments are designed to approximate amounts for which the instruments could be exchanged in an arm&#8217;s-length transaction between knowledgeable and willing parties.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses various valuation techniques in determining the fair value of financial assets and liabilities based on the extent to which the fair value is observable. The following fair value hierarchy is used to categorize and disclose the Company&#8217;s financial assets and liabilities held at fair value for which a valuation technique is used&#58;</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 1&#58; Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Level 2&#58; All inputs which have a significant effect on the fair value are observable, either directly or indirectly, for substantially the full contractual term.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Level 3&#58; Inputs which have a significant effect on the fair value are not based on observable market data.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 43</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:107%">(a) &#160;&#160;&#160;&#160;Fair value and categories of financial instruments (continued)</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below summarizes the valuation methods used to determine the fair value of each financial instrument&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:44.299%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:52.747%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial Instruments Measured at Fair Value</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Valuation Method</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables (related to concentrate sales)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Receivables that are subject to provisional pricing and final price adjustment at the end of the quotational period are estimated based on observable forward price of metal per London Metal Exchange (Level&#160;2)</font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marketable securities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Based on quoted market prices for identical assets in an active market (Level 1) as at the date of statements of financial position</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver futures derivatives</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency derivatives</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial Instruments Measured at Amortized Cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Valuation Method</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Approximated carrying value due to their short-term nature</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Assumed to approximate carrying value as discount rate on</font></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">these instruments approximate the Company's credit risk.</font></td></tr></table></div><div style="text-align:justify;text-indent:18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the Company&#8217;s fair value hierarchy for financial assets and financial liabilities that are measured at fair value&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.345%"><tr><td style="width:1.0%"></td><td style="width:35.318%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.370%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.370%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.370%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.378%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2019</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value measurement</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value measurement</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Carrying value</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Carrying value</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 2</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Financial assets</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,182&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,182&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marketable securities (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,996&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,323&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,506&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,506&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency derivatives (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">982&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">982&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:22.5pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no transfers between levels 1, 2 and 3 during the years ended December&#160;31, 2020 and 2019.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(b)   </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital risk management</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s objectives when managing capital are to maintain financial flexibility to continue as a going concern while</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">optimizing growth and maximizing returns of investments from shareholders.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company monitors its capital structure and, based on changes in operations and economic conditions, may adjust the structure by repurchasing shares, issuing new shares, issuing new debt or retiring existing debt. The Company prepares annual budget and quarterly forecasts to facilitate the management of its capital requirements. The annual budget is approved by the Company&#8217;s Board of Directors.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 44</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(b)   </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital risk management (continued)</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The capital of the Company consists of equity (comprising of issued capital, equity reserves and retained earnings or accumulated deficit), debt facilities, lease liabilities, net of cash and cash equivalents as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:67.886%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.028%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.556%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.030%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$850,236&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$662,321&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">152,708&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">155,818&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,575&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,936&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less&#58; cash and cash equivalents</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(238,578)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(169,009)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$784,941</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$671,066</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="padding-left:22.5pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s investment policy is to invest its cash in highly liquid short-term investments with maturities of 90 days or less, selected with regards to the expected timing of expenditures from operations. The Company expects that its available capital resources will be sufficient to carry out its development plans and operations for at least the next 12 months.</font></div><div style="padding-left:22.5pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is not subject to any externally imposed capital requirements with the exception of complying with covenants under the debt facilities (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie84ccc4cb2ce4c5c8664f43262baabd1_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">19</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) and lease liabilities. As at December&#160;31, 2020 and December&#160;31, 2019, the Company was in compliance with these covenants.</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Financial risk management</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company thoroughly examines the various financial instruments and risks to which it is exposed and assesses the impact and likelihood of those risks. These risks may include credit risk, liquidity risk, currency risk, commodity price risk, and interest rate risk. Where material, these risks are reviewed and monitored by the Board of Directors.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Risk</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk is the risk of financial loss if a customer or counterparty fails to meet its contractual obligations. The Company&#8217;s credit risk relates primarily to chartered banks, trade receivables in the ordinary course of business, value added taxes receivable and other receivables.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December 31, 2020, value added taxes (&#8220;VAT&#8221;) receivable was $56.9 million (2019 - $29.6 million), of which $37.9&#160;million (2019 - $14.2 million) relates to Primero Empresa Minera, S.A. de C.V. (&#34;PEM&#34;). Servicio de Administraci&#243;n Tributaria (&#8220;SAT&#8221;) has not been responsive to VAT refund requests by PEM nor provided any legal basis for withholding these VAT receivables. The Company believes that it has full legal rights to these VAT refunds and expects the amounts to be refunded in the future. As at December 31, 2020, VAT receivables totaling $15.3 million are currently being pursued in Mexican Courts. Due to the uncertain timeline associated with recovery of these amounts, the Company reclassified such amounts as non-current assets though, in the Company's opinion, such amounts are currently due and payable to the Company. </font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company sells and receives payment upon delivery of its silver dor&#233; and by-products primarily through three international customers. All of the Company's customers have good ratings and payments of receivables are scheduled, routine and fully received within 60 days of submission&#59; therefore, the balance of trade receivables owed to the Company</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in the ordinary course of business is not significant.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying amount of financial assets recorded in the consolidated financial statements represents the Company&#8217;s maximum exposure to credit risk. With the exception to the above, the Company believes it is not exposed to significant credit risk.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 45</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Financial risk management (continued)</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">       Liquidity Risk</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they arise. The Company manages liquidity risk by monitoring actual and projected cash flows and matching the maturity profile of financial assets and liabilities. Cash flow forecasting is performed regularly to ensure that there is sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and our holdings of cash and cash equivalents. </font></div><div style="padding-left:22.5pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the maturities of the Company&#8217;s financial liabilities as at December&#160;31, 2020 based on the undiscounted contractual cash flows&#58; </font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:29.005%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.556%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.943%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.556%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.943%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.556%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.943%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.556%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.943%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.556%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.943%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.556%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.044%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Carrying Amount</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Contractual</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Flows</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Less than <br>1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2 to 3<br>years</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">4 to 5<br>years</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">After 5 years</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$76,002&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$76,002&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$76,002&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">152,708&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">174,082&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,180&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">160,902&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,575&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,520&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,557&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,562&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,692&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">709&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,406&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,406&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,406&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$254,691</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$272,010</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$93,739</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$167,464</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,692</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,115</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="padding-left:22.5pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2020, the Company had working capital of $254.4 million (December&#160;31, 2019 &#8211; $171.1 million). Total available liquidity at December&#160;31, 2020 was $319.4 million, including $65.0&#160;million of undrawn revolving credit facility. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes it has sufficient cash on hand, combined with cash flows from operations, to meet operating requirements as they arise for at least the next 12 months. If the Company needs additional liquidity to meet obligations, the Company may consider drawing on its debt facility, securing additional debt financing and&#47;or equity financing. </font></div><div><font><br></font></div><div style="padding-left:18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Currency Risk</font></div><div style="padding-left:18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to foreign exchange risk primarily relating to financial instruments that are denominated in Canadian dollars or Mexican pesos, which would impact the Company&#8217;s net earnings or loss. To manage foreign exchange risk, the Company may occasionally enter into short-term foreign currency derivatives, such as forwards and options, to hedge its cash flows. </font></div><div style="padding-left:18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity of the Company&#8217;s net earnings or loss and comprehensive income or loss due to changes in the exchange rates of the Canadian dollar and the Mexican peso against the U.S. dollar is included in the table below&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.345%"><tr><td style="width:1.0%"></td><td style="width:23.634%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.370%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.370%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.459%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.459%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.459%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.459%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.442%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="39" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December 31, 2020</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Value added taxes receivable</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Other financial assets</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Trade and other payables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Net assets (liabilities) exposure</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in currency</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Canadian dollar</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$75,958&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$74&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$10,140&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">($3,133)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$83,039&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$8,304&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mexican peso</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,369&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">53,201&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(42,763)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">18,807&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,881&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$84,327</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$74</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$53,201</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$10,140</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">($45,896)</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$101,846</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$10,185</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:22.5pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company utilizes certain derivatives to manage its foreign exchange exposures to the Mexican Peso. During the year ended December&#160;31, 2020, the Company realized a foreign exchange loss of $11.5 million (2019 - gain of $2.1 million) and an unrealized loss of $0.9 million (2019 - gain of $1.0 million) on fair value adjustments to its foreign currency derivatives. As at December&#160;31, 2020, the Company does not hold any foreign currency derivatives (2019 - $0.9 million). </font></div><div style="padding-left:22.5pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 46</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Financial risk management (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Commodity Price Risk</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to commodity price risk on silver and gold, which have a direct and immediate impact on the value of its related financial instruments and net earnings. The Company&#8217;s revenues are directly dependent on commodity prices that have shown volatility and are beyond the Company&#8217;s control. The Company does not use derivative instruments to hedge its commodity price risk to silver</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the Company&#8217;s exposure to commodity price risk and their impact on net earnings&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:95.467%"><tr><td style="width:1.0%"></td><td style="width:60.615%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.151%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.565%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.151%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.565%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.153%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in metal prices</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Silver</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gold</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Metals in dor&#233; inventory</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$104&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$226&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$330&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$104</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$226</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$330</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="padding-left:22.5pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Interest Rate Risk</font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to interest rate risk on its short-term investments, debt facilities and lease liabilities. The Company monitors its exposure to interest rates and has not entered into any derivative contracts to manage this risk. The Company&#8217;s interest bearing financial assets comprise of cash and cash equivalents which bear interest at a mixture of variable and fixed rates for pre-set periods of time.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, the Company&#8217;s exposure to interest rate risk on interest bearing liabilities is limited to its debt facilities and lease liabilities. Based on the Company&#8217;s interest rate exposure at December&#160;31, 2020, a change of 25 basis points increase or decrease of market interest rate does not have a significant impact on net earnings or loss.</font></div><div style="padding-left:11.25pt;padding-right:11.25pt;text-align:center"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 47</font></div></td></tr></table></div></div></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_127"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">25.  SUPPLEMENTAL CASH FLOW INFORMATION</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.163%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.180%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.184%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other adjustments to investing activities&#58;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Purchase of marketable securities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($1,522)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from disposal of marketable securities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">664&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">867&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash received on settlement of derivatives</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,079&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,555&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,221</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$3,422</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">change</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">in</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">non-cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">working</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">capital</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">items&#58;</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Decrease in trade and other receivables</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$24&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,304&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Increase) decrease in value added taxes receivable</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(27,525)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,028&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Increase) decrease in inventories</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,288)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,829&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Increase) decrease in prepaid expenses and other</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(692)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">776&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Decrease in income taxes payable</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,115)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,569)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Increase in trade and other payables</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,765&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,959&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($22,831)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$37,327</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">investing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">financing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">activities&#58;</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transfer of share-based payments reserve upon settlement of RSUs</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$992&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$988&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transfer of share-based payments reserve upon exercise of options</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,903&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,986&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition of mining interests</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,179)</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, cash and cash equivalents include $6.4 million (2019 - $5.2 million) that are held in-trust as bonds for tax audits in Mexico that are expected to be resolved within the next 12 months.</font></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_130"></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Due to the size, complexity and nature of the Company&#8217;s operations, various legal and tax matters arise in the ordinary course of business. The Company accrues for such items when a liability is probable and the amount can be reasonably estimated. In the opinion of management, these matters will not have a material effect on the consolidated financial statements of the Company. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Claims and Legal Proceedings Risks</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of business activities. 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&#58; availability of time on court calendars in Canada and elsewhere&#59; the recognition of Canadian judgments under Mexican law&#59; the possibility of settlement discussions&#59; the risk of appeal of judgment&#59; and the insufficiency of the defendant&#8217;s assets to satisfy the judgment amount. Each of these matters is subject to various uncertainties and it is possible that some of these matters may be resolved unfavourably to the Company. First Majestic carries liability insurance coverage and establishes provisions for matters that are probable and can be reasonably estimated. In addition, the Company may be involved in disputes with other parties in the future which may result in a significant impact on our financial condition, cash flow and results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although the Company has taken steps to verify ownership and legal title to mineral properties in which it has an interest, according to the usual industry standards for the stage of mining, development and exploration of such properties, these procedures do not guarantee the Company&#8217;s title. Such properties may be subject to prior agreements or transfers, and title may be affected by undetected defects. However, management is not aware of any such agreements, transfers or defects. </font></div><div style="margin-bottom:6pt"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 48</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Primero Tax Rulings</font></div><div style="padding-right:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When Primero Mining Corp. (&#34;Primero&#34;) acquired the San Dimas Mine in August 2010, it had a Silver Purchase Agreement (&#8220;Old Stream Agreement&#8221;) that required PEM to sell 100% of the silver produced from the San Dimas mine to WPMI, up to 6 million ounces and 50% of silver produced thereafter, at the lower of&#58; (i) the spot market price and (ii) $4.04 per ounce plus an annual increase of 1%. </font></div><div style="padding-right:6.75pt;text-align:justify"><font><br></font></div><div style="padding-right:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to reflect commercial realities and the effects of the Old Stream Agreement, for Mexican income tax purposes, PEM recognized the revenue on these silver sales based on its actual realized revenue (&#8220;PEM Realized Price&#8221;) instead of at spot market prices.</font></div><div style="padding-right:6.75pt;text-align:justify"><font><br></font></div><div style="padding-right:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To obtain assurance that the SAT would accept the PEM Realized Price as the price to use to calculate Mexican income taxes, Primero applied for and received an Advance Pricing Agreement (&#8220;APA&#8221;) from the SAT. The APA confirmed that the PEM Realized Price would be used as Primero&#8217;s basis for calculating taxes owed by Primero on the silver sold under the Old Stream Agreement. Primero believed that the intent of an APA was to have SAT provide tax certainty and as a result made significant investments in Mexico based on that certainty. On October 4, 2012, Primero received the APA Ruling from SAT which confirmed the appropriate price for sales of silver under the Old Stream Agreement was the PEM Realized Price. Under Mexican tax law, an APA ruling is generally applicable for a five year period and this ruling was made effective for 2010 to 2014.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-right:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2016, PEM received a legal claim from the SAT seeking to nullify the APA. The legal claim initiated does not identify any different basis for paying taxes. The Company is continuing PEM's effort to vigorously defend the validity of its APA. If the SAT were successful in retroactively nullifying the APA, the SAT may seek to audit and reassess PEM in respect of its sales of silver in connection with the Old Stream Agreement for 2010 through 2014. If the SAT were successful in retroactively nullifying the APA and issuing reassessments, it would likely have a material adverse effect on the Company&#8217;s results of operations, financial condition and cash flows. Should the Company ultimately be required to pay tax on its silver revenues based on market prices without any mitigating adjustments, the incremental income tax for the years 2010-2018 would be approximately $219.2&#160;million (4,373 million MXN), before interest or penalties.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-right:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2019, as part of the ongoing annual audits of the PEM tax returns, the SAT issued reassessments (the &#34;Reassessments&#34;) for the 2010 to 2012 tax years in the total amount of $246.6 million (4,919 million MXN) inclusive of interest, inflation, and penalties. The Company believes that the Reassessments were issued in violation of the terms of the APA. The key items relate to the view that PEM should pay taxes based on the market price of silver and denial of the deductibility of interest expense and service fees in Mexico all of which the Company disagrees with. The Company continues to defend the APA in the Mexican legal proceedings, and initiated proceedings under relevant tax treaties between the competent tax authorities of Mexico, Canada, Luxembourg and Barbados, all of which were subsequently dismissed on a unilateral basis by the SAT (&#34;Dismissals&#34;) in May 2020. The Company believes that the Dismissals have no legal basis and breach international obligations regarding double taxation treaties, and that the APA remains valid and legally binding. The Company will continue disputing the Reassessments, exhausting its domestic and international remedies. </font></div><div style="padding-right:6.75pt;text-align:justify"><font><br></font></div><div style="padding-right:6.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While the Company continues to vigorously defend the validity of the APA and its transfer pricing position, it is also engaging in various proceedings with the SAT seeking to resolve matters and bring tax certainty through a negotiated solution. Despite these extensive efforts and ongoing legal challenges to the Reassessments and the Dismissals, in April 2020, SAT issued notifications to PEM to attempt to secure amounts it claims are owed pursuant to its reassessments issued. These notifications impose certain restrictions on PEM including its ability to dispose its concessions and real properties. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt"><font><br></font></div><div style="margin-bottom:6pt"><font><br></font></div><div style="margin-bottom:6pt"><font><br></font></div><div style="margin-bottom:6pt"><font><br></font></div><div style="margin-bottom:6pt"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 49</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Primero Tax Rulings (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company has challenged SAT&#8217;s Reassessments and Dismissals through all domestic means available to it, including annulment suits before the Mexican Federal Tax Court on Administrative Matters (&#34;Federal Court&#34;), which has yet to be resolved, and a complaint before Mexico&#8217;s Federal Taxpayer Defense Attorney's Office (known as &#8220;PRODECON&#8221;), which determined that PEM has all legal remedies at its disposal and it has already challenged every SAT ruling, thus the matter must be decided by Mexican Courts. The Company believes that these actions are neither fair nor equitable and are discriminatory against the Company as a foreign investor and amount to a denial of justice under international law, in addition to violating various provisions of the Federal Constitution of the United Mexican States and Mexican domestic law, and Mexican court precedents. As a result, on May 13, 2020, the Company provided to the Government of Mexico notice of its intention to initiate an international arbitration proceeding (&#8220;Notice of Intent&#8221;) pursuant to the North American Free Trade Agreement (&#8220;NAFTA&#8221;). The Notice of Intent initiated a 90-day period for the Government of Mexico to enter into good faith and amicable negotiations with the Company to resolve the dispute. On August 11, 2020, the 90-day period expired without any resolution of the dispute.</font></div><div style="padding-right:2.25pt;text-align:justify"><font><br></font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2020, the Company was served with a decision made by the Federal Court to nullify the APA granted to PEM. The Federal Court&#8217;s decision directs SAT to re-examine the evidence and basis for the issuance of the APA with retroactive effect, for the following key reasons&#58; </font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">        (i) SAT&#8217;s errors in analyzing PEM&#8217;s request for the APA and the evidence provided in support of the request&#59; and </font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">        (ii) SAT&#8217;s failure to request from PEM certain additional information before issuing the APA. </font></div><div style="padding-right:2.25pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company&#8217;s legal advisors reviewed the written reasons and are of the view that the Federal Court&#8217;s decision is flawed both due to SAT's procedural irregularities and failure to address the relevant evidence and legal authorities. In addition, they consider that the laws applied to PEM in the decision are unconstitutional. As a result, the Company filed an appeal of the decision to the Mexican Circuit Courts on November 30, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the Company&#8217;s assessments with third party advisors, the Company believes Primero filed its tax returns compliant with applicable Mexican law and, therefore, no liability has been recognized in the financial statements. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent it is ultimately determined that the appropriate price of silver sales under the Old Stream Agreement is significantly different from the PEM Realized Price and while PEM would have rights of appeal in connection with any reassessments, it is likely to have a material effect on the Company&#8217;s business, financial position and results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_133"></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">La Encantada Tax Re-assessments</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, as part of the ongoing annual audits of the tax returns of Minera La Encantada S.A. de C.V. (&#8220;MLE&#8221;), the SAT issued tax assessments for fiscal 2012 and 2013 in the amount of $7.8 million and $6.3 million, respectively.&#160; The key items relate to forward silver purchase agreement and denial of the deductibility of mine development costs and service fees.&#160; The Company continues to defend the validity of the forward silver purchase agreement and will vigorously dispute the assessments that have been issued.&#160; The Company, based on advice from legal and financial advisors believes MLE&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">First Silver litigation</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2013, the Company received a positive judgment on the First Silver litigation from the Supreme Court of British Columbia (the &#8220;Court&#8221;), which awarded the sum of $93.8 million in favour of First Majestic against Hector Davila Santos (the &#8220;Defendant&#8221;). The Company received a sum of $14.1 million in June 2013 as partial payment of the judgment, leaving an unpaid amount of approximately $62.8 million (CAD$81.5 million). As part of the ruling, the Court granted orders restricting any transfer or encumbrance of the Bola&#241;os Mine by the Defendant and limiting mining at the Bola&#241;os Mine. The orders also require that the Defendant to preserve net cash flow from the Bola&#241;os Mine in a holding account and periodically provide to the Company certain information regarding the Bola&#241;os Mine. However, there can be no guarantee that the remainder of the judgment amount will be collected and it is likely that it will be necessary to take additional action in Mexico and&#47;or elsewhere to recover the balance. Therefore, as at December 31, 2020, the Company has not accrued any of the remaining $64.2 million (CAD$81.5 million) unrecovered judgment in favour of the Company.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 50</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 66.25pt;text-align:left;text-indent:-67.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">27.  SUBSIDIARIES</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements of the Company include the following significant subsidiaries as at December 31, 2020 and 2019 as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.473%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.531%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.743%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Name of subsidiary</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operations and Projects</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Location</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;2020<br>% Ownership </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;2019<br>% Ownership </font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">First Majestic Silver Corp.</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Parent company and bullion sales</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Canada </font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Corporaci&#243;n First Majestic, S.A. de C.V.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Holding company </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Primero Empresa Minera, S.A de C.V.</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">San Dimas Silver&#47;Gold Mine</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico </font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Nusantara de Mexico, S.A. de C.V.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Santa Elena Silver&#47;Gold Mine</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Minera La Encantada, S.A. de C.V.</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Encantada Silver Mine</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico </font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">First Majestic Plata, S.A. de C.V.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Parrilla Silver Mine</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Minera El Pil&#243;n, S.A. de C.V.</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">San Martin Silver Mine</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">First Majestic Del Toro, S.A. de C.V.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Del Toro Silver Mine</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Guitarra Compa&#241;ia Minera, S.A. de C.V.</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Guitarra Silver Mine</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico </font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Majestic Services, S.A. de C.V.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Service company</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;Mexico</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FM Metal Trading (Barbados) Ltd.</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Metals trading company</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Barbados</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FMS Trading AG</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Metals trading company</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Switzerland</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_136"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">28.  KEY MANAGEMENT COMPENSATION</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.730%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.621%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Year Ended December 31, </font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Salaries, bonuses, fees and benefits</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Independent members of the Board of Directors</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$803&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$790&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other members of key management</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,937&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,267&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Independent members of the Board of Directors</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">402&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">439&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other members of key management</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,646&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,975&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$7,788</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$8,471</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div id="ie84ccc4cb2ce4c5c8664f43262baabd1_139"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">29.  SUBSEQUENT EVENTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Completion of Second Payment to First Mining for Acquisition of the Springpole Stream</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 21, 2021, First Majestic completed its second payment of $7.5 million to First Mining for the acquisition of the Springpole Stream by paying $3.75 million in cash and issuing 287,300 common shares. The payment was due upon First Mining's announcement on January 20, 2021 of its positive results of a Pre-Feasibility Study (&#34;PFS&#34;) for the Springpole Gold Project, located in northwestern Ontario, Canada. The PFS results support a 30,000 tonnes-per-day open pit mining operation over an 11 year mine life.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the audited consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report   </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Page 51</font></div></td></tr></table></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ag-2020q4mdaxex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="ida3b1a4d18a84a298a36082865d5206e_1"></div><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:13pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:8pt;text-align:center"><img alt="image0b331a.gif" src="image0b331a.gif" style="height:186px;margin-bottom:5pt;vertical-align:text-bottom;width:280px"></div><div style="margin-bottom:13pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:15pt;font-weight:700;line-height:120%">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">FOR THE YEAR AND QUARTER ENDED DECEMBER&#160;31, 2020  </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:58.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="9" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">925 West Georgia Street, Suite 1800, Vancouver, B.C., Canada V6C 3L2<br>Phone&#58; 604.688.3033 &#124; Fax&#58; 604.639.8873&#124; Toll Free&#58; 1.866.529.2807 &#124; Email&#58; info&#64;firstmajestic.com<br>www.firstmajestic.com</font></td></tr></table></div><div style="text-align:center"><font><br></font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_4"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.751%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:74.049%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">TABLE OF CONTENTS</font></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:89.971%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.812%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_7" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">COMPANY OVERVIEW</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_7" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">3</a></font></div></td></tr><tr style="height:6pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_10" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">20</a><a href="#ida3b1a4d18a84a298a36082865d5206e_10" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">20</a><a href="#ida3b1a4d18a84a298a36082865d5206e_10" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"> ANNUAL HIGHLIGHTS</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_10" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font></div></td></tr><tr style="height:6pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_13" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">2020 </a><a href="#ida3b1a4d18a84a298a36082865d5206e_13" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">FOURTH</a><a href="#ida3b1a4d18a84a298a36082865d5206e_13" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"> QUARTER HIGHLIGHTS</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_13" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">7</a></font></div></td></tr><tr style="height:6pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_16" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">202</a><a href="#ida3b1a4d18a84a298a36082865d5206e_16" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">1</a><a href="#ida3b1a4d18a84a298a36082865d5206e_16" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"> PRODUCTION OUTLOOK AND COST GUIDANCE UPDATE</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_16" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">10</a></font></div></td></tr><tr style="height:6pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OVERVIEW OF OPERATING RESULTS</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Summary of Selected Quarterly Production Results</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">12</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Operations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">San Dimas Silver&#47;Gold Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">16</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_31" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Santa Elena Silver&#47;Gold Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_31" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">18</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_34" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">La Encantada Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_34" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_43" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">La Parrilla Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_43" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_49" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Del Toro Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_49" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_52" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">San Martin Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_52" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">La Guitarra Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Springpole Silver Stream</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OVERVIEW OF FINANCIAL PERFORMANCE</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_67" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Fourth Quarter 2020 vs 2019</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_67" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Year to Date 2020 vs 2019</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">27</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Summary of Selected Quarterly Results</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">29</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OTHER DISCLOSURES</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Liquidity, Capital Resources and Contractual Obligations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">29</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Management of Risks and Uncertainties</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">32</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_82" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Other Financial Information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_82" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">36</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Accounting Policies, Judgments and Estimates</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">37</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Non-GAAP Measures</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">39</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_106" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Management's Report on Internal Control Over Financial Reporting</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_106" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">46</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Cautionary Statements</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#ida3b1a4d18a84a298a36082865d5206e_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">47</a></font></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_7"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:120%">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">This Management&#8217;s Discussion and Analysis of Results of Operations and Financial Condition (&#8220;MD&#38;A&#8221;) should be read in conjunction with the audited consolidated financial statements of First Majestic Silver Corp. (&#8220;First Majestic&#8221; or &#8220;the Company&#8221;) for the year ended December 31, 2020 which are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (&#8220;IFRS&#8221;).&#160;All dollar amounts are expressed in United States (&#8220;US&#8221;) dollars and tabular amounts are expressed in thousands of US dollars, unless otherwise indicated.&#160;Certain amounts shown in this MD&#38;A may not add exactly to total amounts due to rounding differences. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This MD&#38;A contains &#8220;forward-looking statements&#8221; that are subject to risk factors set out in a cautionary note contained at the end of this MD&#38;A.&#160;All information contained in this MD&#38;A is current and has been approved by the Board of Directors of the Company as of February&#160;18, 2021 unless otherwise stated. </font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.751%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:74.049%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">COMPANY OVERVIEW</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic is a multinational mining company headquartered in Vancouver, Canada, focused on primary silver production in M&#233;xico, pursuing the exploration and development of its existing mineral properties and acquiring new assets. The Company owns three producing mines&#58; the San Dimas Silver&#47;Gold Mine, the Santa Elena Silver&#47;Gold Mine, the La Encantada Silver Mine, and four mines currently in care and maintenance&#58; the San Martin Silver Mine, the Del Toro Silver Mine, the La Parrilla Silver Mine and the La Guitarra Silver&#47;Gold Mine. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic is publicly listed on the New York Stock Exchange under the symbol &#8220;AG&#8221;, on the Toronto Stock Exchange under the symbol &#8220;FR&#8221; and on the Frankfurt Stock Exchange under the symbol &#8220;FMV&#8221;. </font></div><div style="text-align:justify"><font><br></font></div><div><img alt="projectsmap2018a151a.jpg" src="projectsmap2018a151a.jpg" style="height:458px;margin-bottom:5pt;vertical-align:text-bottom;width:672px"></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_10"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2020 ANNUAL HIGHLIGHTS</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.702%"><tr><td style="width:1.0%"></td><td style="width:51.885%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.392%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.392%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.392%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.455%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Key Performance Metrics</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2018</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change<br>'20 vs '19</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operational</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,213,954&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,831,999&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,375,452&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(22&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,598,380&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,241,118&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,679,452&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,379,010&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,554,288&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">22,243,071&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(20&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Costs per Ounce </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$5.09&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$5.16&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$6.98&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$13.92&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.64&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$14.95&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Production Cost per Tonne </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$79.59&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$75.05&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$60.71&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Average Realized Silver Price per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.15&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$16.40&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.53&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial (in $millions)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$363.9&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$363.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$300.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mine Operating Earnings (Loss)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$105.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$66.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($11.9)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Earnings (Loss) before Income Taxes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$29.7&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($39.0)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($263.0)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">176&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Earnings (Loss) </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$23.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($40.5)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($204.2)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">157&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating Cash Flows before Working Capital and Taxes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$107.3&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$108.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$61.6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and Cash Equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$238.6&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$169.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$57.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Working Capital </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$254.4&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$171.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$108.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Earnings (Loss) per Share (&#34;EPS&#34;) - Basic</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.11&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.20)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($1.11)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">154&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjusted EPS</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.18&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.04&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.21)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Flow per Share</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.50&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.54&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.34&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:115%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:115%;padding-left:3.47pt">The Company reports non-GAAP measures which include cash costs per ounce produced, all-in sustaining cost per ounce, total production cost per tonne, average realized silver price per ounce sold, working capital, adjusted EPS and cash flow per share. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and the methods used by the Company to calculate such measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 39 to 45 for a reconciliation of non-GAAP to GAAP measures.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><img alt="chart-6fb11e5593e440758801a.jpg" src="chart-6fb11e5593e440758801a.jpg" style="height:293px;margin-bottom:5pt;vertical-align:text-bottom;width:160px"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    </font><img alt="chart-da8dedd0ee9c44719321a.jpg" src="chart-da8dedd0ee9c44719321a.jpg" style="height:293px;margin-bottom:5pt;vertical-align:text-bottom;width:160px"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">   </font><img alt="chart-86c38963408642a59e01a.jpg" src="chart-86c38963408642a59e01a.jpg" style="height:293px;margin-bottom:5pt;vertical-align:text-bottom;width:160px"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">  </font><img alt="chart-7322c41c00824b0c9121a.jpg" src="chart-7322c41c00824b0c9121a.jpg" style="height:293px;margin-bottom:5pt;vertical-align:text-bottom;width:160px"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Operational Highlights</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.252%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Annual Production Summary</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">713,064&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">640,276&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">860,613&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,213,954</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,399,667&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,692,761&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,505,953&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">11,598,380</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gold Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">71,598&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,242&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">241&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">100,081</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,670,526&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,181,708&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,526,776&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">20,379,010</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Costs per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$2.04&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$5.81&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$10.27&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$5.09</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$8.75&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.78&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.43&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$13.92</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Production Cost per Tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$127.91&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$78.44&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$40.37&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$79.59</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:115%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:115%;padding-left:3.47pt">See &#34;Non-GAAP measures&#34;</font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">Annual silver production</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> of 11,598,380 ounces, which achieved the top-end of the Company&#8217;s revised guidance range of 11.0 to 11.7 million ounces. Strong silver production from La Encantada and San Dimas in the second half of 2020 helped to offset some of the production losses during the Mexican national COVID-19 shutdowns in the second quarter of 2020.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">Annual gold production </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">of 100,081 ounces, which was slightly below the Company&#8217;s revised guidance range of 106,000 to 112,000 ounces, primarily due to lower production rates at Santa Elena and lower gold grades at San Dimas in the second half of 2020. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">La Encantada achieved highest annual silver production since 2014 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">with 3.5 million ounces of silver produced during the year, representing a 14% increase from the prior year and beating the Company&#8217;s revised production guidance of 3.1 to 3.3 million silver ounces.  </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">Record consolidated silver recoveries</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> of 88% during 2020, the highest in the Company&#8217;s 18-year history due primarily to the continued success with fine grinding technologies and mill modernizations. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">The impact of COVID-19 on business and operations&#58; </font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.59pt">In compliance with the decree issued by the Mexican Ministry of Health on March 31, 2020, the Company temporarily suspended operations at its three operating mines during most of April and May (&#34;COVID-19 Suspensions&#34;). Operations resumed following the Mexican Government's decision to allow the restart of mining activities on May 23, 2020.</font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.59pt">In order to accommodate COVID-19 related protocols, all mines have been operating with reduced workforce levels. Worker availability continues to be a challenge but is currently being mitigated by increasing the use of temporary workers and contractors to replace vulnerable workers.</font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.59pt">The Company continues to support its vulnerable workers with paid leave including base pay and medical services as needed. Vulnerable workers currently account for approximately 9% of the Company's workforce at its three operating mines, an improvement from 18% at the end of the second quarter.  </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash cost per ounce&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Cash cost per payable silver ounce in the year was $5.09, a marginal decrease compared to the previous year. The decrease in cash cost was primarily due to cost savings from suspension of higher cost mines in 2019 and a 12% weaker Mexican Peso, partially offset by lower by-product credits and decrease in production attributed to the COVID-19 Suspensions in the second quarter, as well as higher mining contractor costs and COVID-19 related costs.  </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">All-in sustaining cost (&#34;AISC&#34;)&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> AISC per payable silver ounce in 2020 was $13.92, compared to $12.64 in the previous year. The increase in AISC per ounce was primarily attributed to an increase in fixed overhead costs, such as general and administration expenses and annual workers participation benefits, being divided by 12% less silver ounces produced due to the required COVID-19 Suspensions. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial Highlights</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Robust cash position and liquidity&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company ended the year with cash and cash equivalents of $238.6&#160;million compared to $169.0&#160;million at the end of the previous year, while working capital improved to $254.4 million compared to $171.1 million. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Revenue&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company generated annual revenues of $363.9 million in 2020, consistent with 2019 as lost production from COVID-19 Suspensions and worker availability were offset by a 29% increase in average realized silver price, which averaged $21.15 per ounce during the year compared to $16.40 in 2019. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Mine operating earnings&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> During the year, the Company recognized mine operating earnings of $105.1 million compared to $66.2&#160;million in 2019. The increase in mine operating earnings was primarily driven by higher margins attributed to higher silver and gold prices, as well as shifting a greater proportion of the Company's production to its larger and lower cost operations. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Net earnings&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognized net earnings of $23.1 million (earnings per share of $0.11) in 2020 compared to net loss of $40.5 million (loss per share of $0.20) in 2019. Net loss in 2019 was primarily due to the $52.4 million after tax impairment on non-current assets taken in 2019.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Adjusted earnings&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Adjusted earnings (see &#8220;Non-GAAP Measures&#8221;), normalized for non-cash or unusual items such as COVID-19 standby costs, share-based payments and deferred income taxes for the year ended December&#160;31, 2020 was $37.4 million ($0.18 per share), compared to adjusted earnings of $7.3&#160;million ($0.04 per share) in 2019. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash flow from operations&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> During the year, cash flow from operations before changes in working capital and income taxes was $107.3 million ($0.50 per share) compared to $108.9 million ($0.54 per share) in 2019. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Corporate Development and Other</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Acquisition of Springpole Silver Stream from First Mining Gold Corp. (&#34;First Mining&#34;)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 2, 2020, the Company completed an agreement with First Mining to purchase 50% of the life of mine payable silver produced from the Springpole Gold Project (&#34;Springpole Silver Stream&#34;), a development stage mining project located in Ontario, Canada. Under the agreement, First Majestic agreed to pay First Mining total upfront consideration of $22.5 million in cash and shares, over three milestone payments, with ongoing payments of 33% of the silver spot price per ounce, to a maximum of $7.50 per ounce (subject to annual inflation escalation of 2% commencing at the start of the third anniversary of production), as payable silver is delivered by First Mining. The Company made its initial payment of $10.0 million in the third quarter by paying $2.5&#160;million in cash and $7.5 million by issuing 805,698 common shares to First Mining. In January 2021, the Company completed its second payment of $7.5 million to First Mining for the acquisition of the Springpole Stream by paying $3.75 million in cash and issuing 287,300 common shares. The payment was due upon First Mining's announcement on January 20, 2021 of its positive results of the Pre-Feasibility Study (&#34;PFS&#34;) for the Springpole Gold Project, located in northwestern Ontario, Canada. The PFS results support a 30,000 tonnes-per-day open pit mining operation over an 11 year mine life.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Option Agreement with Silver Dollar Resources Inc. (&#34;Silver Dollar&#34;) for Sale of the La Joya Project&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2020, First Majestic entered into a five year option agreement which gives Silver Dollar the option to earn an initial 80% interest in the Company's La Joya Project, following the exercise of which it may earn an additional 20% for an aggregate 100% interest within five years of executing the option agreement.</font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.59pt">To exercise its first option to acquire an 80% interest in the La Joya Project, Silver Dollar will pay the Company CAD$1.3 million in cash over four years, issue shares equal to 19.9% of Silver Dollar's then-outstanding common shares within one year, incur CAD$1.0 million of exploration expenditures within the first five years, and grant First Majestic a 2% net smelter returns royalty. If Silver Dollar incurs the exploration expenditures within the first three years&#59; however, First Majestic will waive CAD$600,000 of the remaining cash option payments.</font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.59pt">Silver Dollar may exercise its second option and acquire the remaining 20% (for an aggregate 100% interest) of the La Joya Project by providing notice to First Majestic within 30 days of earning the first 80% interest and issuing to First Majestic additional shares equal to 5% of Silver Dollar's then-outstanding common shares. </font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:14.59pt">During the third quarter, the Company has received CAD$0.3 million in cash and 19.9% of Silver Dollar&#8217;s outstanding common shares or 5,146,401 common shares with a fair value of $6.9 million from Silver Dollar. After netting La Joya's carrying value of $0.6 million, the Company recognized a gain of $6.5 million on the transaction.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Divestiture of the Plomosas Silver Project</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In March 2020, the Company sold its Plomosas Silver Project to GR Silver Mining Ltd. (&#34;GR Silver&#34;) for total consideration of $1.7 million, consisting of 17,097,500 common shares of GR Silver with a fair value of $1.7 million on the measurement date, CAD$100,000 in cash and a 2% net smelter return royalty on the Plomosas Project with half of the NSR being subject to a buy-back option for CAD$1,000,000. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_13"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2020 FOURTH QUARTER HIGHLIGHTS</font></div></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.001%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.084%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.084%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.786%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.786%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.548%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Key Performance Metrics</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020-Q4</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change<br>Q4 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019-Q4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change<br>Q4 vs Q4</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operational</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">625,332&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">655,920&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">626,482&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,452,959&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,158,866&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,348,424&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,477,492&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,201,085&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,233,412&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash Costs per Ounce </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$6.53&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$2.49&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.73&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$15.92&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$9.94&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$12.25&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Production Cost per Tonne </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$85.68&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$71.56&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$78.62&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Realized Silver Price per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$24.88&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$22.58&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$17.46&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial (in $millions)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$117.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$125.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$96.5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mine Operating Earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$43.7&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$48.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$23.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net Earnings (Loss) </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$34.5&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$30.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b3b3b3;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($39.9)</font></td><td style="border-top:1pt solid #b3b3b3;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #b3b3b3;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating Cash Flows before Movements in Working Capital and Taxes</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$48.2&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$52.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$32.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and Cash Equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$238.6&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$232.4&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$169.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Working Capital </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$254.4&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$266.7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$171.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings (Loss) per Share (&#34;EPS&#34;) - Basic</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.16&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.14&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.19)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EPS</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.11&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.00&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash Flow per Share</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.22&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.24&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.16&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:115%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:115%;padding-left:3.47pt">See &#34;Non-GAAP Measures&#34;</font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.568%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.232%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.232%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.232%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.236%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Fourth Quarter Production Summary</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">208,648&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">168,276&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">248,408&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">625,332</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,941,286&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">418,153&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,093,521&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,452,959</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gold Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,980&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,294&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">69&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">26,343</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,477,061&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">901,630&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,098,800&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,477,492</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Costs per Ounce</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$3.23&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$11.69&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$10.39&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$6.53</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Ounce</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$10.09&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$23.02&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.37&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$15.92</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Production Cost per Tonne</font></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$135.13&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$86.32&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$43.72&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$85.68</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Operational Highlights</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Total production in the fourth quarter was 5.5 million silver equivalent ounces</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, consisting of 3.5 million ounces of silver and 26,343 ounces of gold. Quarterly silver and gold production increased 9% and 2%, respectively, compared to the prior quarter.  </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">San Dimas achieved its highest quarterly silver production since the mine was acquired by First Majestic</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> and produced 1.9 million ounces of silver and 19,980 ounces of gold, representing an increase of 16% and 9%, respectively, from the prior quarter.  </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">La Encantada reached its highest quarterly production since the second quarter of 2013</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> and produced 1.1 million silver ounces, representing a 12% increase from the prior quarter.  </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash cost per ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the quarter was $6.53 per payable silver ounce, compared to $2.49 per ounce in the previous quarter. The increase in cash cost was primarily due to&#58; higher gold by-product credits realized in the third quarter attributed to inventory that rolled over from the second quarter, which contributed an additional $7.4 million or $2.34 per ounce in by-product credits in the previous quarter&#59; a 6% stronger Mexican Peso against the U.S. Dollar compared to the previous quarter&#59; as well as higher COVID-19 related expenses.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">AISC per ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the fourth quarter was $15.92 per ounce compared to $9.94 per ounce in the previous quarter. The  increase in AISC per ounce was primarily attributed to increase in cash cost per ounce, higher sustaining development and capital expenditure activities as the mines ramp up operations after the COVID-19 Suspensions.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Project Updates&#58; </font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:14.15pt">San Dimas Mill Modernization Project&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> A new contractor camp for over 100 workers is being constructed at San Dimas to support the high-intensity grinding (&#8220;HIG&#8221;) mill installation and plant modernization programs. Demolition work and new process piping runs have continued throughout the quarter, however, due to current COVID-19 restrictions the phase-1 HIG mill project completion date has been extended to the second half of 2021. </font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Santa Elena&#8217;s Ermita&#241;o Project&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the Company completed approximately 923 metres of underground development during the quarter. The underground ventilation circuit, which ties together the West and East ramps, was completed at the end of November. On surface, the construction of the transmission power line and housing for the temporary  diesel generators were completed. The diesel generators were delivered to site in early January and are currently undergoing installation.</font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Santa Elena LNG Project&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Liquefied Natural Gas (&#8220;LNG&#8221;) generators were successfully installed at Santa Elena&#8217;s new LNG power facility during the quarter and the project was approximately 90% complete at year end. Electromechanical activities such as the installation of the natural gas pipelines, cooling system, instrumentation and controls, plant safety infrastructure and connection of the main electric cables continued throughout the quarter. Dry-testing and commissioning activities have commenced and the power generation plant is expected to be fully operational in the second quarter of 2021 after completing the commissioning and ramp-up period. </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:14.5pt">Exploration program in the fourth quarter expanded </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">as the Company returned to normal operations resulting from the construction of additional camp facilities and the reduction of the COVID-19 pandemic restrictions. At the end of the fourth quarter, 25 exploration drill rigs were active across the Company&#8217;s mines and projects consisting of 12 rigs at San Dimas, seven rigs at Santa Elena, four rigs at La Encantada and two rigs at La Parrilla.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial Highlights</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">In the fourth quarter, the Company generated revenues of $117.1 million compared to $96.5 million in the fourth quarter of 2019. The increase in revenues was attributed primarily to a 43% increase in average realized silver price, partially offset by a 13% decrease in silver equivalent ounces sold. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The Company realized mine operating earnings of $43.7 million compared to $23.9&#160;million in the fourth quarter of 2019. The increase in mine operating earnings was primarily attributed to higher metal prices.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Net earnings for the quarter was $34.5 million (EPS of $0.16) compared to net loss of $39.9 million (EPS of ($0.19)) in the fourth quarter of 2019. The increase in net earnings was primarily attributed to a $52.4 million after-tax impairment loss taken in the fourth quarter of the prior year.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Adjusted net earnings for the quarter, normalized for non-cash or unusual items such as unrealized gain or loss on mark-to-market adjustment of foreign currency derivatives and marketable securities, share-based payments, impairment of non-current assets and deferred income taxes for the quarter ended December 31, 2020, was $24.2&#160;million&#160;(Adjusted EPS&#160;of&#160;$0.11) compared to adjusted net earnings of $0.3&#160;million (Adjusted EPS of $0.00) in the fourth quarter of 2019.  </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Cash flow generated by operations before movements in working capital and income taxes in the quarter was $48.2&#160;million ($0.22&#160;per share) compared to $32.9 million ($0.16 per share) in the fourth quarter of 2019. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Cash and cash equivalents at December&#160;31, 2020 increased to record levels of $238.6 million and working capital was $254.4 million. </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_16"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.465%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:38.335%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2021 PRODUCTION OUTLOOK AND COST GUIDANCE UPDATE</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">This section provides management&#8217;s production outlook and cost guidance for 2021. These are forward-looking estimates and are subject to the cautionary note regarding the risks associated with relying on forward-looking statements at the end of this MD&#38;A. Actual results may vary based on production and other external factors. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company expects 2021 production from its three operating mines to range between 12.5 to 13.9 million ounces of silver and 100,000 to 112,000 ounces of gold for total production (with gold credits converted to silver ounces) of between 20.6 to 22.9 million silver equivalent ounces. Based on the midpoint of the guidance range the Company expects a 14% increase in silver production and a 7% increase in total production when compared to 2020. The expected increases are primarily due to higher throughputs and silver grades at San Dimas and having a full year of production following Mexico&#8217;s two month national shutdown in 2020, offset by a lower silver to gold ratio which impacts the calculation of conversion to silver equivalent ounces.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">A mine-by-mine breakdown of the 2021 production guidance is included in the table below. Effective 2021, the Company is adjusting its cost guidance and future reporting to reflect cash costs and all-in sustaining cost per ounce (&#8220;AISC&#8221;) on a per silver equivalent payable ounce basis compared to previous disclosure of only silver payable ounces. For 2021, the Company is using an 80&#58;1 silver to gold ratio compared to a 100&#58;1 silver to gold ratio in its revised 2020 guidance.  Metal price and foreign currency assumptions for calculating equivalents are&#58; silver $22.50&#47;oz, gold $1,800&#47;oz, USD&#58;MXN 20&#58;1. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Guidance for 2021</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.851%"><tr><td style="width:1.0%"></td><td style="width:24.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.356%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.356%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.995%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.654%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.357%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Silver Oz (M)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gold Oz (K)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Silver Eqv Oz (M)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash Costs per AgEq Oz ($)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">AISC per <br>AgEq Oz ($)*</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.1 &#8211; 8.0</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72 &#8211; 80</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.9 &#8211; 14.4</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.94 &#8211; 8.43</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.36 &#8211; 12.23</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.0 &#8211; 2.2</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29 &#8211; 32</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.3 &#8211; 4.8</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.93 &#8211; 13.71</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.49 &#8211; 17.68</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.4 &#8211; 3.7</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8211;</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.4 &#8211; 3.7</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.20 &#8211; 11.89</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.72 &#8211; 14.70</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12.5 &#8211; 13.9</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100 &#8211; 112</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20.6 &#8211; 22.9</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$9.52 &#8211; $10.10</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$14.81 &#8211; $15.99</font></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">*Certain amounts shown may not add exactly to the total amount due to rounding differences.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">*Cash Cost and AISC is a non-GAAP measure. Consolidated AISC includes Corporate General &#38; Administrative cost estimates and non-cash costs of $1.74 to $1.94 per payable silver equivalent ounce. The Company calculates consolidated AISC in the manner set out in the table below.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company is projecting its 2021 AISC to be within a range of $14.81 to $15.99 on a per consolidated payable silver equivalent ounce basis. Excluding non-cash items, the Company anticipates its 2021 AISC to be within a range of $14.17 to $15.29 per payable silver equivalent ounce. An itemized AISC cost table is provided below&#58; </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.107%"><tr><td style="width:1.0%"></td><td style="width:84.335%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.465%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">All-In Sustaining Cost Calculations </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">FY 2021<br>($&#47;AgEq oz)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total Cash Costs per Payable Silver Equivalent Ounce </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.52 &#8211; 10.10</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and Administrative Costs</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.10 &#8211; 1.23</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sustaining Development Costs</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.37 &#8211; 1.53</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sustaining Property, Plant and Equipment Costs</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.04 &#8211; 1.16</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sustaining Exploration Costs</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.02 &#8211; 0.03</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Workers Participation Costs</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.74 &#8211; 0.82</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease Payments</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.37 &#8211; 0.42</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based Payments (non-cash)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.52 &#8211; 0.58</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion of Reclamation Costs (non-cash)</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.12 &#8211; 0.13</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">All-In Sustaining Costs&#58;  </font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$14.81 &#8211; $15.99</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">All-In Sustaining Costs&#58; (excluding non-cash items)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$14.17 &#8211; $15.29</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:11.94pt">AISC is a non-GAAP measure and is calculated based on the Company&#8217;s consolidated operating performance. Other mining companies may calculate AISC differently as a result of differences in underlying accounting principles, the definition of &#8220;sustaining costs&#8221; and the distinction between sustaining and expansionary capital costs.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:11.94pt">Total cash cost per payable silver equivalent ounce includes estimated royalties and 0.5% mining environmental fee of $0.11 per payable silver equivalent ounce.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;text-decoration:underline">Ermita&#241;o Development and Construction Remain Key Focus in 2021 </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Since its initial discovery in 2016, the high-grade Ermita&#241;o project has been a priority exploration project for the Company. Located four kilometres east of the existing Santa Elena mill facility, the project has the potential to add significant mine life to the Santa Elena operation. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Since 2016, the Company has completed approximately 72,270 metres of diamond drilling on the property. The Company is planning to release a Preliminary Economic Assessment (&#8220;PEA&#8221;) and updated Resource statement for Ermita&#241;o, with an effective cut-off date of December 31, 2020, by the end of the first quarter of 2021. Furthermore, the Company is currently conducting hydrogeological and geotechnical drilling and testing which will be used as key study work for a planned Pre-Feasibility Study (&#8220;PFS&#8221;) on the project. The PFS is expected to be released in the second half of 2021 and will define initial Reserves, production rates, costs and estimated life of mine for the Ermita&#241;o project.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2021, the Company has budgeted a total of $42.1 million to be invested at Ermita&#241;o to prepare for initial limited mine ore production in the second half of 2021 followed by production ramp up in early 2022. Procurement for the underground mobile mining fleet is expected to occur in the first half of 2021. The Company expects to begin initial test block mining at Ermita&#241;o by mid-2021 to assess the geotechnical conditions, subject to delineation drilling results, and extract approximately 30,000 to 60,000 tonnes of ore material to be used for industrial metallurgical testing purposes. In addition, blending and batching test work is expected to be completed by mid-year to determine the ideal processing procedure to apply at the Santa Elena processing plant.     </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;text-decoration:underline">Investing for Future Growth</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2021, the Company plans to invest a total of $168.4 million on capital expenditures consisting of $55.7 million for sustaining investments and $112.7 million for expansionary projects (including $42.1 million on the Ermita&#241;o project). This represents a 35% increase compared to the Company's 2020 capital expenditures (a 15% increase excluding the Ermita&#241;o project) and is aligned with the Company&#8217;s future growth strategy of investments in fine grinding technology, processing plant modernizations, mine development and to prepare the Ermita&#241;o project for production in early 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The 2021 annual budget includes&#58; total capital investments of $75.9 million to be spent on underground development&#59; $49.8 million towards property, plant and equipment&#59; $27.6 million in exploration&#59; and $15.1 million towards corporate innovation projects. Management may revise the guidance and budget during the year to reflect actual and anticipated changes in metal prices or to the business.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company plans to increase underground development in 2021 to approximately 47,000 metres compared to 38,504 metres completed in 2020. The 2021 development program consists of approximately 27,800 metres at San Dimas&#59; 8,800 metres at Santa Elena&#59; 4,600 metres at La Encantada&#59; and 5,800 metres at the Ermita&#241;o project near Santa Elena. This year-over-year increase is primarily due to the return to normal operating levels following the two-month national shutdown in the second quarter of 2020 and increased ore development within existing mines. In addition, higher development rates are planned at the Ermita&#241;o project in order to prepare the mine for initial production in early 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company also plans to increase exploration drilling in 2021 to approximately 184,150 metres compared to 156,244 metres completed in 2020. The 2021 drilling program will consist of approximately 104,000 metres  at San Dimas with infill and step out holes focusing on near mine and brownfield targets in the West, Central, and Tayoltita blocks&#59; 37,600 metres at Santa Elena with near mine, brownfield and greenfield holes continuing to test the Main, America and Alejandra veins and new targets north and south of the mine area&#59; 14,550 metres at La Encantada with infill and step out holes testing the potential of several near mine and brownfield targets&#59; 13,900 metres at the Ermita&#241;o project intended to increase resource confidence and add new mineral resources&#59; and 7,600 metres at Del Toro and 6,500 metres at La Parrilla intended to test new brownfield and greenfield targets identified through generative exploration in 2020.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Mr. Ramon Mendoza Reyes, Vice President of Technical Services for First Majestic, is a &#34;Qualified Person&#34; as such term is defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this MD&#38;A.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_22"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:61.400%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">OVERVIEW OF OPERATING RESULTS</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Selected Production Results for the Past Eight Quarters</font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.554%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.236%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PRODUCTION HIGHLIGHTS</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q3</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ore processed&#47;tonnes milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">208,648&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">189,918&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114,390&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,109&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">182,265&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173,679&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">172,368&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163,264&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168,276&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204,577&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89,590&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">177,834&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196,640&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">229,094&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">229,761&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219,941&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">248,408&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261,425&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129,579&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221,200&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221,049&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">191,926&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">207,421&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269,611&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,213&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62,148&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Parrilla</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,439&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61,544&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72,551&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Del Toro </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,528&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,829&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,587&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,138&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">625,332</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">655,920</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">333,559</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">599,142</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">626,482</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">655,967</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">736,896</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">812,654</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,477,061&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,125,662&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,395,633&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,672,169&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,516,117&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,502,102&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,641,139&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,172,270&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">901,630&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,091,026&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">595,651&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,593,400&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,592,397&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,859,170&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,461,345&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,403,364&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,098,800&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">984,397&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">514,092&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">929,487&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">991,856&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891,205&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">492,957&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">723,699&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271,450&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421,091&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Parrilla</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">258,683&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">420,712&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">441,095&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Del Toro </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133,042&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125,557&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122,879&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">112,158&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,477,492</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,201,085</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,505,376</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,195,057</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,233,412</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,636,716</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,410,483</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,273,677</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,941,286&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,678,075&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,102,931&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,677,376&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,658,721&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,639,481&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,603,016&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,404,454&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">418,153&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">502,375&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222,100&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">550,133&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">619,321&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">632,216&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">596,872&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">587,195&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,093,521&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">978,416&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">509,544&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">924,472&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">987,630&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885,627&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">489,194&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">720,959&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224,056&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">331,539&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Parrilla</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135,420&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202,698&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219,485&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Del Toro </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82,752&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74,997&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,729&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67,757&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,452,959</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,158,866</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,834,575</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,151,980</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,348,424</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,367,740</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,193,566</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,331,388</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.23&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($1.50)</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.77&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.08&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.74&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$2.28&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1.64&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.93&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$11.69&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.85&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$15.10&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$2.12&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($1.40)</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($7.24)</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$4.28&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$2.81&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$10.39&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$10.14&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$9.38&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$10.77&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$10.12&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$10.72&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$16.57&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$12.60&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$16.52&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$11.35&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Parrilla</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$16.27&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$14.13&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$16.58&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Del Toro</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$28.62&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$29.83&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$27.29&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$27.20&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6.53</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$2.49</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6.73</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$5.16</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.73</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.83</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6.84</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6.34</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">All-in sustaining cost per payable silver ounce</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$10.09&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$4.09&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$13.04&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$9.02&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$7.41&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$7.30&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$8.49&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$5.65&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$23.02&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$6.37&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$24.71&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$6.03&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.66&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($5.17)</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$7.73&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$6.37&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$12.37&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$12.11&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$11.60&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$13.31&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$12.67&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$12.67&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$18.87&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$13.72&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$21.15&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$15.67&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Parrilla</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$28.81&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$21.61&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$25.62&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Del Toro </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$38.84&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$39.77&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$36.33&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$35.89&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$15.92</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$9.94</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$18.57</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$12.99</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$12.25</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$10.76</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$14.76</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$12.91</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Production cost per tonne</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$135.13&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$120.60&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$129.67&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$126.33&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$127.19&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$135.71&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$142.42&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$122.17&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$86.32&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$71.44&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$74.50&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$81.04&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$68.77&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$57.78&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$58.88&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$56.53&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$43.72&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$36.04&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$36.80&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$43.82&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$43.92&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$47.86&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$38.29&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$32.71&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$109.51&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$80.39&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">La Parrilla</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$89.40&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$75.96&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$76.78&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Del Toro </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$106.99&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$98.98&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$91.89&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$95.06&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$85.68</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$71.56</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$78.78</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$82.41</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$78.62</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$78.87</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$77.93</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$66.65</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1) La Parrilla was placed on temporary suspension effective September 2, 2019.</font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2) San Martin was placed on temporary suspension effective July 1, 2019 due to a growing insecurity in the area and safety concerns for our workforce. The re-opening date is contingent on security conditions in the region and cannot be determined at this time.</font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3) Del Toro's mining and milling operations were placed on temporary suspension effective January 1, 2020 to improve overall operating cash flows while focusing on an expanded drill program in the area.</font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4) In response to the COVID-19 pandemic, the Mexican Ministry of Health issued a decree requiring non-essential businesses, including mining, to temporarily suspend activities until May 23, 2020. As a result, production and costs were adversely affected during the quarter.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_25"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Operating Results &#8211; Consolidated Operations</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.132%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.084%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.090%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">CONSOLIDATED</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2019-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">&#160;Change <br>Q4 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">&#160;Change<br> '20 vs '19</font></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Ore processed&#47;tonnes milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">625,332</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">655,920</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">333,559</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">599,142</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,213,954</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,831,999</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">194</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">170</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">193</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">185</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">184</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">169</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average gold grade (g&#47;t)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.37</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.27</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.52</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.74</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.46</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.54</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">88&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">88&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">86&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold recovery (%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,452,959</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,158,866</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,834,575</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,151,980</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,598,380</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,241,118</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold ounces produced </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26,343</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,771</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,764</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32,202</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">100,081</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,580</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(26&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Pounds of lead produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,935,566</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(100&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Pounds of zinc produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,691,100</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(100&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,477,492</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,201,085</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,505,376</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,195,057</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,379,010</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,554,288</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(20&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash cost per payable silver ounce</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$6.53</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$2.49</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$6.73</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$5.16</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$5.09</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$5.16</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">162&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">All-In sustaining costs per ounce</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$15.92</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$9.94</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$18.57</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$12.99</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$13.92</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$12.64</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">60&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total production cost per tonne</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$85.68</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$71.56</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$78.78</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$82.41</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$79.59</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$75.05</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,004</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,575</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,666</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,888</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">38,504</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">54,517</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(29&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Diamond drilling (m)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">57,147</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">46,516</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,250</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">40,458</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">156,244</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">204,371</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(24&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">The Impact of COVID-19 on Business and Operations</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In compliance with the decree issued by the Mexican Ministry of Health on March 31, 2020, the Company temporarily suspended operations at its three operating mines during most of April and May (&#34;COVID-19 Suspensions&#34;). Operations resumed following the Mexican Government's decision to allow the restart of mining activities on May 23, 2020 contingent on the government approving sanitary control plans for each operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to accommodate COVID-19 related protocols, all mines have been operating with reduced workforce levels. Worker availability continues to be a challenge but is currently being mitigated by increasing the use of temporary workers and contractors to replace vulnerable workers.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to support its vulnerable workers with paid leave including base pay and medical services as needed. &#34;Vulnerable employees&#34; as defined by the Mexican Ministry of Health consists of any of the following list of conditions including&#58; anyone 60 years of age or older and workers with pre-existing conditions or compromised immune systems. Vulnerable workers currently account for approximately 9% of the Company's workforce at its three operating mines. The Company is also supporting local communities by sponsoring health professionals, medical equipment, personal protective equipment, medicine and health supplements.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the fourth quarter, the Company constructed and advanced Polymerase Chain Reaction (&#34;PCR&#34;) laboratory test facility in the city of Durango and partnered with a test labs at Hermosillo, Sonora to speed up COVID-19 testing capabilities at its mine sites. Preventative control measures to protect the safety and health of our employees, contractors and communities in which we operate, including social distancing, remote working, cancellation of any non-essential visits to the mines, comprehensive sanitation measures for the workplace and company transportation, as well as pre-screening for virus symptoms remain in effect.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Production</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the year, the Company produced 20.4 million silver equivalent ounces, consisting of 11.6 million ounces of silver and 100,081 ounces of gold. Silver production achieved the top-end of the Company&#8217;s revised guidance range of 11.0 to 11.7&#160;million ounces. Strong silver production from La Encantada and San Dimas in the second half of 2020 helped to offset </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">some of the production losses during the Mexican national COVID-19 shutdowns in the second quarter of 2020. Gold production was slightly below the Company&#8217;s guidance range of 106,000 to 112,000 ounces, primarily due to lower production rates at Santa Elena and lower gold grades at San Dimas in the second half of 2020. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Consolidated silver recoveries achieved a record of 88% during the year, the highest in the Company&#8217;s 18-year history due primarily to the continued success with fine grinding technologies and mill modifications. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the fourth quarter, total production was 5.5 million silver equivalent ounces, consisting of 3.5 million ounces of silver and 26,343 ounces of gold. Quarterly silver and gold production increased 9% and 2%, respectively, compared to the prior quarter.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Despite COVID-19 related challenges, San Dimas and La Encantada both achieved significant milestones during the fourth quarter&#58;</font></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:13.02pt">San Dimas achieved its highest quarterly silver production since the mine was acquired by First Majestic and produced 1.9 million ounces of silver and 19,980 ounces of gold, representing an increase of 16% and 9%, respectively, from the prior quarter&#59; and  </font></div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:13.02pt">La Encantada reached its highest quarterly production since the second quarter of 2013 and produced 1.1&#160;million silver ounces, representing a 12% increase from the prior quarter.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Consolidated silver grades in the quarter averaged 194 g&#47;t compared to 170 g&#47;t in the previous quarter and consolidated gold grades averaged 1.37&#160;g&#47;t compared to 1.27 g&#47;t in the prior quarter.&#160;Consolidated silver and gold recoveries averaged 89% and 96%, respectively, consistent with the previous quarter. La Encantada continues to achieve higher recoveries as a result of improved blending procedures of stockpiles and processing ore with low manganese content. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash Cost and All-In Sustaining Cost per Ounce</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash cost per payable silver ounce in the year was $5.09, a slight decrease compared to the previous year. The decrease in cash cost was primarily due to cost savings from suspension of higher cost mines in 2019 and a 12% weaker Mexican Peso, partially offset by lower by-product credits and decrease in production attributed to the COVID-19 Suspensions in the second quarter, as well as higher mining contractor costs and COVID-19 related costs.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC per payable silver ounce in 2020 was $13.92, compared to $12.64 in the previous year. The increase in AISC per ounce was primarily attributed to an increase in fixed overhead costs, such as general and administration expenses and annual workers participation benefits, being divided by 12% less silver ounces produced due to the required COVID-19 Suspensions. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Cash cost per payable silver ounce for the quarter was $6.53 per payable silver ounce, compared to $2.49 per ounce in the previous quarter. The increase in cash cost was primarily due to higher gold by-product credits realized in the third quarter attributed to inventory that rolled over from the second quarter, which contributed an additional $7.4 million or $2.34 per ounce in by-product credits in the previous quarter, a 6% stronger Mexican Peso against the U.S. Dollar compared to the previous quarter, as well as higher COVID-19 related expenses.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC per payable silver ounce in the fourth quarter was $15.92 per ounce compared to $9.94 per ounce in the previous quarter. The  increase in AISC per payable silver ounce was primarily attributed to increase in cash cost per ounce, higher sustaining development and capital expenditure activities as the mines restarted major capital projects after the COVID-19 Suspensions.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Development and Exploration</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020, the Company completed 38,504 metres of underground development and 156,244 metres of diamond drilling, a decrease of 29% and 24%, respectively, compared to the previous year. At the end of the year, 25 exploration drill rigs were active across the Company&#8217;s mines and projects consisting of 12 at San Dimas, seven at Santa Elena, four at La Encantada and two at La Parrilla.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2020 exploration program primarily included completion of 87,659 metres in 259 drill holes at San Dimas, 16,323 metres in 74 holes at Santa Elena, 16,250 metres in 48 holes at Ermita&#241;o and 18,611 metres in 61 holes at La Encantada. In addition, the Company completed 18,971 metres of regional drilling in 50 holes, including 6,560 metres of greenfield drilling in 21 holes at Santa Elena&#8217;s Los Hernandez project and 10,224 metres of brownfield drilling in 19 holes at La Parrilla. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2021 drilling program is planned to consist of 192,900 metres including approximately 84,750 metres at San Dimas intended to add new mineral resources with a focus on the West, Central, and Tayoltita blocks&#59; 30,500 metres at Santa Elena to continue exploring the Main, Alejandra Bajo and America veins, and to test greenfield targets around Los Hernandez&#59; 15,000 metres at the Ermita&#241;o project intended to increase resource confidence and add new mineral resources&#59; 21,200 metres at La Encantada with an emphasis on exploring the mineral potential of several brownfield targets&#59; and 22,450 metres at Del Toro and 19,000 metres at La Parrilla intended to test near mine, brownfield, and greenfield targets.</font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_28"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">San Dimas Silver&#47;Gold Mine, Durango, M&#233;xico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The San Dimas Silver&#47;Gold Mine is located approximately 130 km northwest of Durango, Durango State, Mexico and consists of 71,868&#160;hectares of mining claims located in the states of Durango and Sinaloa, Mexico. San Dimas is one of the country&#8217;s most prominent silver mines and the largest producing underground mine in the state of Durango with over 250 years of operating history. The San Dimas operating plan involves processing ore from several underground mining areas with a 2,500 tpd capacity milling operation which produces silver&#47;gold dor&#233; bars. The mine is accessible via a 40-minute flight from the Durango International Airport to the private airstrip in the town of Tayoltita. The Company owns 100% of the San Dimas mine.</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.132%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.828%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.387%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q1</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2019-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">&#160;Change <br>Q4 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">&#160;Change<br> '20 vs '19</font></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total ore processed&#47;tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">208,648</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">189,918</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,390</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">200,109</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">713,064</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">691,576</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">309</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">290</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">318</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">280</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">297</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">305</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average gold grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.10</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.11</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.38</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.44</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.24</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4.08</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(21&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">94&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">95&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">94&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">94&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">97&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,941,286</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,678,075</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,102,931</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,677,376</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,399,667</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,305,672</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,980</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18,268</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,042</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,308</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">71,598</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">87,424</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(18&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,477,061</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,125,662</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,395,633</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,672,169</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,670,526</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,831,627</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash cost per ounce</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$3.23</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($1.50)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$3.77</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$3.08</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$2.04</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$1.41</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">All-In sustaining costs per ounce</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$10.09</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$4.09</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$13.04</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$9.02</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$8.75</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$7.26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">147&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total production cost per tonne</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$135.13</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$120.60</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$129.67</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$126.33</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$127.91</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$131.90</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,454</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,111</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,488</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,100</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26,154</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,021</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Diamond drilling (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26,537</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,004</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,031</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">22,087</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">87,659</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">76,467</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(12)</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div style="margin-top:6pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">2020 vs. 2019</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2020, San Dimas produced 6,399,667 ounces of silver and 71,598 ounces of gold for a total production of 12,670,526 equivalent silver ounces, an 8% decrease compared to 13,831,627 silver equivalent ounces in 2019. The mill processed a total of 713,064 tonnes compared to 691,576 tonnes in the previous year. Strong silver production from San Dimas in the second half of 2020 helped to offset some of the production losses resulting from the national COVID-19 shutdowns which occurred in the second quarter of 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2020, silver and gold grades averaged 297 g&#47;t and 3.24 g&#47;t, respectively, compared to 305 g&#47;t and 4.08 g&#47;t in the previous year. Silver and gold recoveries averaged 94% and 96%, respectively, which were consistent with 2019.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year, cash cost per payable silver ounce averaged $2.04 compared to $1.41 per ounce in 2019. AISC averaged $8.75 per ounce in 2020 compared to $7.26 per ounce in 2019. The increase was primarily attributed to higher union costs, mining contractor costs to replace vulnerable workers, COVID-19 related medical and supplies expenditures, as well as lower by-product credits due to the reduction in gold produced, partially offset by a 12% weaker Mexican Peso against the U.S. Dollar compared to the previous year. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The San Dimas mine is subject to a gold and silver streaming agreement with Wheaton Precious Metals Corp. (&#34;Wheaton&#34; or &#34;WPM&#34;) which entitles Wheaton to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1&#160;gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment commencing in May 2019) and the prevailing market price, for each gold ounce delivered. Should the average gold to silver ratio over a six month period exceed 90&#58;1 or fall below 50&#58;1, the fixed exchange ratio would be increased to 90&#58;1 or decreased to 50&#58;1, respectively. The fixed gold to silver exchange ratio was revised to 90&#58;1 on </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">April 1, 2020 and reverted to 70&#58;1 on October 14, 2020 after the average gold to silver price ratio over a six month period fell back below 90&#58;1.  During the year ended December&#160;31, 2020, the Company delivered 38,604 ounces (2019 - 44,667 ounces) of gold to WPM at $610 (2019 - $604) per ounce.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year, a total of 26,154 metres of underground development and 87,659 metres of diamond drilling were completed compared to 24,021 metres and 76,467 metres, respectively, in the prior year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">2020Q4 vs. 2020Q3</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the fourth quarter, San Dimas produced a total of 3,477,061 silver equivalent ounces compared to 3,125,662 silver equivalent ounces in the prior quarter. The mine recorded its highest quarterly silver production under First Majestic&#8217;s ownership which produced 1,941,286 ounces of silver and 19,980 ounces of gold representing an increase of 16% and 9%, respectively compared to the prior quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The mill processed a total of 208,648 tonnes with average silver and gold grades of 309 g&#47;t and 3.10 g&#47;t, respectively, compared to 189,918 tonnes milled with average silver and gold grades of 290 g&#47;t and 3.11 g&#47;t in the previous quarter. The Central Block and Sinaloa Graben areas contributed approximately 72% and 24%, respectively, of the total production during the quarter.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Silver and gold recoveries averaged 94% and 96%, respectively, during the quarter which were consistent with the prior quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In the fourth quarter, cash cost per ounce was $3.23 per ounce compared to negative $1.50 per ounce in the prior quarter. The increase in cash cost was primarily due to higher gold by-product credits realized in the third quarter attributed to the sale of withheld metal inventory from the second quarter, an increase in mining contractor costs and productivity bonus as a result of increase in throughput during the quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC for the quarter was $10.09 per ounce compared to $4.09 per ounce in the prior quarter. The increase in AISC was primarily due to the increase in cash cost per ounce, as well as accelerated mine development investments during the quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">A total of 8,454 metres of underground development in the fourth quarter, compared to 7,111 metres in the prior quarter. Rehabilitation efforts on six kilometres of underground rail-car tracks inside the Tayoltita mine was mostly completed during the quarter. Initial production from the Tayoltita mine began in June and is expected to ramp-up to more than 200 tpd in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the fourth quarter, three surface drills and nine underground drills completed 26,537 metres compared to 30,004 metres in the prior quarter. Drilling in the fourth quarter was focused in the Central, Sinaloa and Tayoltita Blocks and one regional project.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is expecting to release an updated NI 43-101 Technical Report on San Dimas by the end of the first quarter of 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_31"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Santa Elena Silver&#47;Gold Mine, Sonora, M&#233;xico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Santa Elena Silver&#47;Gold Mine is located approximately 150 kilometres northeast of the city of Hermosillo, Sonora, Mexico and owns mining concessions totaling over 102,244 hectares. The operating plan for Santa Elena involves the processing of ore in a 3,000 tpd cyanidation circuit from a combination of underground reserves and spent ore from the previous heap leach pad. The Company owns 100% of the Santa Elena mine.</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.132%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.828%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.387%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">SANTA ELENA</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q1</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2019-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Change <br>Q4 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">&#160;Change<br> '20 vs '19</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total ore processed&#47;tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">168,276</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">204,577</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89,590</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">177,834</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">640,276</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">875,435</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(18&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(27&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Underground tonnes</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">105,591</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">133,108</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">58,223</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">125,529</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">422,451</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">542,085</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(21&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(22&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">113</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">109</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">109</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">130</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">116</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">131</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(11&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average gold grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.58</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.49</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.70</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.48</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.84</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.31</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(20&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Heap leach tonnes</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt 0 7pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">62,685</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">71,469</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">31,366</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52,305</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">217,826</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">333,351</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(12&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(35&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">33</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">34</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">36</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">34</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">37</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average gold grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.61</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.61</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.62</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.73</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.64</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.66</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">94&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">91&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">95&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">95&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">95&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">418,153</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">502,375</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">222,100</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">550,133</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,692,761</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,435,604</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(30&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,294</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,428</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,677</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,842</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">28,242</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">45,119</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(15&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(37&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">901,630</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,091,026</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">595,651</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,593,400</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,181,708</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,316,277</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(34&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash cost per ounce</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$11.69</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$0.85</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$15.10</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$2.12</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$5.81</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($0.51)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">All-In sustaining costs per ounce</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$23.02</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$6.37</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$24.71</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$6.03</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$12.78</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$3.02</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total production cost per tonne</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$86.32</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$71.44</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$74.50</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$81.04</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$78.44</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$60.23</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,663</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,273</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">606</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,940</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,851</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,241</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">109&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Diamond drilling (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,994</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,308</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">802</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,474</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">39,451</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">56,141</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">65&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(30&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">2020 vs. 2019</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2020, Santa Elena produced 1,692,761 ounces of silver and 28,242 ounces of gold for a total production of 4,181,708 silver equivalent ounces, a 34% decrease compared to 6,316,277 silver equivalent ounces in 2019. The mill processed a total of 640,276 tonnes compared to 875,435 tonnes in the previous year. Production was affected primarily due to the national COVID-19 shutdowns which occurred in the second quarter of 2020, as well as lost productivity attributed to operating under limited workforce levels throughout most of the second half of the year. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Silver and gold grades from underground ore averaged 116 g&#47;t and 1.84 g&#47;t, respectively, compared to 131 g&#47;t and 2.31 g&#47;t in the previous year. Silver recoveries improved from 91% in 2019 to 93% this year while gold recoveries remained consistent at 96%. The increase in recoveries was primarily attributed to a full year of milling from the HIG mill that was successfully put into operation in the third quarter of 2019.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year, cash cost per silver equivalent ounce averaged $5.81 compared to negative $0.51 per ounce in 2019 while AISC averaged $12.78 per silver equivalent ounce compared to $3.02 per ounce in the previous year. The increase was primarily attributed to 34% lower production, a decrease in by-product credits, higher mining contractor costs to replace vulnerable workers and increase in COVID-19 related expenditures such as camp site and medical supplies costs.  </font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Santa Elena mine is subject to a gold streaming agreement with Sandstorm Gold Ltd. (&#8220;Sandstorm&#8221;), which requires the mine to sell 20% of its gold production from the leach pad and a designated area of its underground operations over the life of mine to Sandstorm. The selling price to Sandstorm is currently the lesser of $450 per ounce (subject to a 1% annual inflation increase every April) and the prevailing market price. During the year ended December 31, 2020, the Company delivered 5,697 ounces of gold to Sandstorm at an average price of $463 per ounce.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year, a total of 7,851 metres of underground development and 39,451 metres of diamond drilling were completed, including 2,292 metres of underground development at the Ermita&#241;o project near Santa Elena in advance of production ramp up scheduled for early 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">2020Q4 vs. 2020Q3</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the fourth quarter, Santa Elena produced 901,630 silver equivalent ounces, consisting of 418,153 ounces of silver and 6,294 ounces of gold, representing a decrease of 17% and 15%, respectively compared to the prior quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The mine processed a total of 168,276 tonnes during the quarter, consisting of 105,591 tonnes from the underground mine ore and 62,685&#160;tonnes from the above ground heap leach pad, a decrease of 18% compared to 204,577 total tonnes in the prior quarter. The decrease in tonnes was primarily due to having limited contractor and equipment availability during the quarter. The Company expects mine and plant production to return to normal operating rates by the second quarter of 2021 following improvements in underground ore haulage and increased production at the Main, Alejandra Bajo and America veins</font><font style="color:#008080;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the quarter, silver and gold grades from underground ore averaged 113 g&#47;t and 1.58&#160;g&#47;t, respectively, compared to 109 g&#47;t and 1.49 g&#47;t, respectively in the prior quarter. Above ground heap leach pad averaged 33 g&#47;t and 0.61 g&#47;t respectively during the quarter and where consistent comparing to the prior quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Silver and gold recoveries averaged 93% and 96%, respectively, during the quarter. The Company continues to advance the SAG mill circuit conversion at Santa Elena and anticipates the mill modifications to be commissioned in the third quarter of 2021. Lower operating costs are expected to be achieved once the mill is fully upgraded due to having lower power requirements compared to a standard ball mill as well as a reduction in reagent and grinding media consumption.   </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash cost in the fourth quarter was $11.69 per ounce compared to $0.85 per ounce in the previous quarter. The increase in cash cost was primarily attributed to higher gold by-product credits realized in the third quarter attributed to the sale of withheld metal inventory from the second quarter, which contributed an additional $3.2 million or $6.28 per ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in by-product credits during the third quarter, an increase in COVID-19 related expenditures such as camp site and medical supplies costs as well as the decrease in production.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC for the quarter was $23.02 per ounce compared to $6.37 per ounce in the prior quarter. The increase is primarily attributed to $10.84 per ounce increase in cash cost and a 67% increase in mine development metres, divided over a 17% decrease in silver ounces produced. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The LNG generators were successfully installed at Santa Elena&#8217;s new LNG power facility during the quarter and the project was approximately 90% complete at year end. Electromechanical activities such as the installation of the natural gas pipelines, cooling system, instrumentation and controls, plant safety infrastructure and connection of the main electric cables continued throughout the quarter. Dry-testing and commissioning activities have commenced and the power generation plant is expected to be fully operational in the second quarter of 2021 after completing the commissioning and ramp-up period. The LNG power facility is expected to significantly reduce energy costs and carbon emissions going forward. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the fourth quarter, a total of 2,663 metres of development at Santa Elena compared to 1,273&#160;metres in the previous quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the Ermita&#241;o project near Santa Elena, the Company completed approximately 923 metres of underground development during the quarter. The underground ventilation circuit, which ties together the West and East ramps, was completed at the end of November. On surface, the construction of the transmission power line and housing for the temporary diesel generators were completed. The land use permit (ETJ) was also received in January 2021 thus completing full permitting of the Ermita&#241;o project.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the fourth quarter, five surface drills and three underground drills completed 7,791 metres compared to 7,269 metres in the previous quarter. Drilling in the quarter was directed towards near mine and greenfield targets. In addition, the Company completed 9,203 metres of exploration drilling at the Ermita&#241;o project during the quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company is expecting to release an updated NI 43-101 Technical Report on Santa Elena by the end of the first quarter of 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_34"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">La Encantada Silver Mine, Coahuila, M&#233;xico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The La Encantada Silver Mine is an underground mine located in the northern M&#233;xico State of Coahuila, 708 kilometres northeast of Torreon. La Encantada has 4,076 hectares of mineral concessions and surface land ownership of 1,343 hectares. La Encantada also has a 4,000 tpd cyanidation plant, a camp with 180 houses as well as administrative offices, laboratory, general store, hospital, airstrip and all infrastructure required for such an operation. The mine is accessible via a two-hour flight from the Durango International Airport to the mine&#8217;s private airstrip, or via a mostly-paved road from the closest city, Muzquiz, Coahuila State, which is 225 kilometres away. The Company owns 100% of the La Encantada Silver Mine.</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.387%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">LA ENCANTADA</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-Q1</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2020-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2019-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Change <br>Q4 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Change <br>'20 vs '19</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Ore processed&#47;tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">248,408</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">261,425</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">129,579</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">221,200</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">860,613</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">890,008</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">172</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">152</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">158</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">165</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">162</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">146</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">77&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">79&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">74&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,093,521</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">978,416</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">509,544</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">924,472</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,505,953</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,083,410</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold ounces produced </font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">69</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">76</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">45</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">241</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">190</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(9&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,098,800</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">984,397</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">514,092</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">929,487</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,526,776</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,099,717</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash cost per ounce</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$10.39</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$10.14</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$9.38</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$10.77</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$10.27</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$11.89</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(14&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">All-In sustaining costs per ounce</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$12.37</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$12.11</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$11.60</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$13.31</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$12.43</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$13.90</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(11&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total production cost per tonne</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$43.72</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$36.04</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$36.80</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$43.82</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$40.37</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$40.06</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">888</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,191</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">572</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,024</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,674</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,444</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(25&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(33&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Diamond drilling (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,101</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,528</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">417</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,565</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18,611</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">17,739</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47%&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5%&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">2020 vs. 2019</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2020, La Encantada recorded its highest annual silver production since 2014. During the year, La Encantada produced 3,505,953 ounces of silver and 241 ounces of gold for a total of 3,526,776 silver equivalent ounces, an increase of 14% compared to 3,099,717 silver equivalent ounces in 2019. The increase was primarily due to an 11% increase in silver head grade and a 5% increase in silver recovery, partially offset by a 3% decrease in tonnes milled. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Silver recoveries averaged 78% during the year, compared to 74% in 2019, marking its highest annual recovery rate in the Company&#8217;s history as a result of improved blending procedures of stockpiles and processing ore with low manganese content.   </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Silver grades during the year averaged 162 g&#47;t, an increase of 11% compared to 146 g&#47;t in 2019. The improvement in the grade was driven by higher grades from San Javier and La Prieta.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year, cash cost per ounce averaged $10.27 compared to $11.89 per ounce in 2019, and AISC averaged $12.43 per ounce in 2020 compared to $13.90 per ounce in 2019. The decrease was primarily attributed to higher production, a 12% weaker Mexican Peso against the U.S. Dollar compared to the previous year, which was partially offset by higher COVID-19 related medical supplies costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A total of 3,674 metres of underground development and 18,611 metres of diamond drilling were completed in 2020 compared to 5,444 metres of underground development and 17,739 metres of diamond drilling in the prior year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">2020Q4 vs. 2020Q3</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the quarter, La Encantada produced 1,093,521 silver ounces, representing a 12% increase in production compared to the previous quarter and the highest silver quarterly production since the second quarter of 2013. Silver grades and </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">recoveries during the quarter averaged 172 g&#47;t and 80%, respectively, compared to 152 g&#47;t and 77%, respectively, in the previous quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Strong production from the San Javier and La Prieta caving areas contributed approximately 81% of the total silver production during the quarter. Caving production benefited from higher than expected grades and tonnage during the quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash cost and AISC for the quarter were $10.39 and $12.37 per ounce, respectively, consistent with $10.14 and $12.11 per ounce in the previous quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The mill modernization project designed to improve processing efficiencies had some installation delays throughout 2020 due to the impacts caused by the COVID-19 pandemic. As a result, the project is expected to continue into 2021 with the installation of new scrubbers for the foundry, main gear replacement and new impellers for two thickener tanks, filter press upgrades and improvements to the electrical control room.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A total of 888 metres of underground development were completed in the fourth quarter compared to 1,191 metres in the prior quarter. During the quarter, ramp development continued to access the Milagros breccia to prepare the mine for initial sub-level caving production in 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the fourth quarter, one surface drill and three underground drills completed 8,101 metres of drilling compared to 5,528&#160;metres in the previous quarter. Drilling in the quarter was directed towards near mine targets.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company is expecting to release an updated NI 43-101 Technical Report on La Encantada by the end of the first quarter of 2021.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_43"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">La Parrilla Silver Mine, Durango, M&#233;xico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The La Parrilla Silver Mine, located approximately 65 kilometres southeast of the city of Durango in Durango State, M&#233;xico, is a complex of producing underground operations consisting of the Rosarios, La Blanca and San Marcos mines which are inter-connected through underground workings, and the Vacas and Quebradillas mines which are connected via above-ground gravel roads. The total mining concessions consist of 69,478&#160;hectares. The Company owns 60 hectares, and leases an additional 107&#160;hectares of surface rights, for a total of 167 hectares of surface rights. La Parrilla includes a 2,000 tpd sequential processing plant consisting of a 1,000 tpd cyanidation circuit and a 1,000 tpd flotation circuit, an ISO certified central laboratory, metallurgical pilot plant, buildings, offices and associated infrastructure. The Company owns 100% of the La Parrilla Silver Mine.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operations at the La Parrilla mine have been temporarily suspended since September 2019. The Company is currently using the La Parrilla mill and its ISO Certified Laboratory on site as a research and development facility while continuing the exploration in the district. </font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_49"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Del Toro Silver Mine, Zacatecas, M&#233;xico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Del Toro Silver Mine is located 60 kilometres to the southeast of the Company&#8217;s La Parrilla mine and consists of 2,130&#160;hectares of mining concessions and 219 hectares of surface rights. The Del Toro operation represents the consolidation of three historical silver mines, the Perseverancia, San Juan and Dolores mines, which are approximately one and three kilometres apart, respectively. Del Toro includes a 2,000 tpd flotation circuit and a 2,000 tpd cyanidation circuit. First Majestic owns 100% of the Del Toro Silver Mine.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective January 2020, the Company has temporarily suspended Del Toro's mining and milling operations in order to improve overall operating cash flows and profit margins while focusing on the exploration program in the area. The exploration program will include drilling to test near mine, brownfield and greenfield targets in an effort to develop new resources necessary to support a potential reopening in the future, subject to a sufficient improvement in mineral economics to justify a restart. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_52"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">San Martin Silver Mine, Jalisco, M&#233;xico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The San Martin Silver Mine is an underground mine located near the town of San Martin de Bola&#241;os in the Bola&#241;os river valley, in the northern portion of the State of Jalisco, M&#233;xico. San Martin has 33 contiguous mining concessions in the San Martin de Bola&#241;os mining district covering mineral rights for 12,795 hectares, plus an application to acquire a new mining concession covering 24,723 hectares. In addition, the mine owns 160 hectares of surface land where the processing plant, camp, office facilities, maintenance shops, and tailings dams are located, and an additional 640 hectares of surface rights. The 1,300 tpd mill and processing plant consists of crushing, grinding and conventional cyanidation by agitation in tanks and a Merrill-Crowe dor&#233; production system. The mine can be accessed via small plane, 150 kilometres from Durango, or 250&#160;kilometres by paved road north of Guadalajara, Jalisco. The San Martin Silver Mine is 100% owned by the Company.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In July 2019, the Company temporarily suspended all mining and processing activities at the San Martin operation due to growing insecurity in the area and safety concerns for our workforce. The Company continues to work with government authorities to secure the area and is evaluating alternative operating plans. The re-opening date is contingent on economics and security conditions in the region and cannot be determined at this time.</font></div><div style="text-align:justify"><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_55"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">La Guitarra Silver Mine, M&#233;xico State, M&#233;xico </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The La Guitarra Silver Mine is located in the Temascaltepec Mining District in the State of M&#233;xico, M&#233;xico, approximately 130 kilometres southwest from M&#233;xico City. The La Guitarra mine covers 39,714 hectares of mining claims and has a 500 tpd flotation processing plant, buildings and related infrastructure. The Company owns 100% of the La Guitarra Silver Mine. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The La Guitarra milling and mining operations were placed under care and maintenance effective August 3, 2018 and the Company is currently reviewing strategic options including the potential sale of the operation. The Company will continue with remediation programs to prepare the operation for a potential reopening in the future, subject to sufficient improvement in the economic situation to justify a restart of the operation. Ongoing care and maintenance activities include pumping, de-watering of the underground mine and water treatment continue.</font></div><div style="margin-top:0.05pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_58"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Springpole Silver Stream, Ontario, Canada</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 2, 2020, the Company completed an agreement with First Mining Gold Corp. (&#8220;First Mining&#8221;) to purchase 50% of the life of mine payable silver produced from the Springpole Gold Project (&#34;Springpole Silver Stream&#34;), a development stage mining project located in Ontario, Canada. Pursuant to the agreement, First Majestic agreed to pay First Mining consideration of $22.5 million in cash and shares, in three milestone payments, for the right to purchase silver at a price of 33% of the silver spot price per ounce, to a maximum of $7.50 per ounce (subject to annual inflation escalation of 2%, commencing at the start of the third anniversary of production). Commencing with its production of silver, First Mining must deliver 50% of the payable silver which it receives from the offtaker within five business days of the end of each quarter. </font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transaction consideration paid and payable by First Majestic is summarized as follows&#58;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The first payment of $10.0 million, consisting of $2.5&#160;million in cash and $7.5 million in First Majestic shares (805,698 common shares) was paid to First Mining on July 2, 2020&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The second payment of $7.5 million, consisting of $3.75 million in cash and $3.75 million in First Majestic shares (287,300 common shares) was paid in on January 21, 2021 upon the completion and public announcement by First Mining of the results of a Pre-Feasibility Study for Springpole&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The third payment consisting of $2.5 million in cash and $2.5 million in First Majestic shares (based on 20 days volume weighted average price) will be paid upon receipt by First Mining of a Federal or Provincial Environmental Assessment approval for Springpole.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Mining shall have the right to repurchase 50% of the silver stream for $22.5 million at any time prior to the commencement of production at Springpole leaving the Company with a reduced silver stream of 25% of life of mine payable silver production. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Springpole is one of Canada&#8217;s largest, undeveloped gold projects with permitting underway. In January 2021, First Mining announced positive results of its Pre-Feasibility Study (&#8220;PFS&#8221;) which supports a 30,000 tonnes-per-day open pit mining operation over an 11 year mine life. First Mining announced resources of 24.3 million ounces of silver in the Indicated category and 1.4 million ounces of silver in the Inferred category, plus 4.6 million ounces of gold in the Indicated category and 0.3 million ounces of gold in the Inferred category.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Springpole Project also includes large land holdings of 41,913 hectares which are fully encompassed under the silver streaming agreement.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Mining is a related party with two independent board members who are directors and&#47;or officers of First Majestic. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_64"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.370%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:51.430%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:100%">OVERVIEW OF FINANCIAL PERFORMANCE</font></td></tr></table></div><div id="ida3b1a4d18a84a298a36082865d5206e_67"></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">For the quarters ended December&#160;31, 2020 and 2019 (in thousands of dollars, except for per share amounts)&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.685%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.632%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.632%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.664%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fourth Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fourth Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Variance %</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$117,075</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$96,476</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,008&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55,033&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,399&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17,502&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">73,407&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72,535&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating earnings </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">43,668</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">23,941</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">82&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,205&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,644&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,227&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,907&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine holding costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,017&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,409&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impairment of non-current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,739&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(100)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange loss </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,424)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,947)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating earnings</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">29,643</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(46,811)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value adjustment on foreign currency derivatives</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,880&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment and other (loss) income </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,333)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,475&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,717)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,940)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">27,473</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(49,276)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax expense </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,115&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,487&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax recovery</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11,187)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(19,817)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax recovery</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,072)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,330)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the period</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$34,545</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($39,946)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per share (basic)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.16</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.19)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per share (diluted)</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.15</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.19)</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the quarter increased 21% compared to the same quarter of the previous year primarily attributed to&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 43% increase in realized silver price per ounce sold, which averaged</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$24.88 during the quarter compared to $17.46 in the fourth quarter of 2019, resulting in a $32.5 million increase in revenues&#59;</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  Partially offset by&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 13% decrease in payable equivalent silver ounces sold compared to the same quarter of the prior year, resulting in a $12.0 million decrease in revenues. &#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Cost of sales</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the quarter increased 5% or $3.0 million compared to the same quarter of the previous year as a result of the following factors&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $4.0 million increase in labour costs, primarily due to the temporary use of mining contractors to replace vulnerable workers as well as an increase in workers participation benefits and productivity bonus due to negotiated bonus agreements with the San Dimas union&#59; </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">        Partially offset by&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $1.0 million decrease due to reclassification  of San Martin's standby costs from cost of sales to mine holding cost effective January 1, 2020. </font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.66pt">Depletion, depreciation and amortization</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the quarter decreased $2.1 million or 12% compared to the same quarter of the previous year, primarily attributed to planned suspension of operating activities at the Del Toro, La Parrilla and San Martin mines, as well as a decrease in depletion, depreciation and amortization at La Encantada due to impairment recognized in the previous year.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Mine holding costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> increased by $2.6 million compared to the same quarter of 2019, primarily due to planned suspension of operating activities at the Del Toro mine on January 1, 2020 as well as the reclassification of San Martin's standby costs from cost of sales to mine holding costs effective January 1, 2020.  </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Impairment on non-current assets&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In the fourth quarter of the prior year, the Company recorded an impairment charge of $58.7 million, or $52.4 million net of tax, in relation to the La Encantada mine. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Fair value adjustment on foreign currency derivatives </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of $3.9 million gain in the fourth quarter relates to mark-to-market adjustments on the Company's foreign currency derivatives, which have been fully settled as at December 31, 2020. The Company utilizes these foreign currency options and swaps to hedge cash flows relating to mining operations, exploration and evaluation activities and corporate expenses in Mexican Pesos.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Investment and other income</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the quarter</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">decreased $3.8 million compared to the same quarter of 2019 primarily due to a $2.4 million unrealized loss on investment in marketable securities in the current quarter compared to a $1.5&#160;million unrealized gain in the prior year. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.42pt">During the quarter, the Company recorded an </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">income tax recovery </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of $7.1 million compared to $9.3 million in the fourth quarter of 2019. The decrease in income tax recovery was attributed primarily to a $6.3 million deferred tax recovery recognized in the previous year in relation to impairment on non-current assets, net of foreign exchange impact on the Company's Mexican Peso denominated future income tax liability balances. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.42pt">As a result of the foregoing, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">net earnings </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">for the quarter was $34.5 million (EPS of $0.16) compared to a net loss of  $39.9&#160;million (EPS of ($0.19)) in the same quarter of the prior year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_70"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">For the years ended December&#160;31, 2020, 2019 and 2018 </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(in thousands of dollars, except for per share amounts)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.138%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.804%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.517%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Annual</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Annual</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Annual</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Variance %</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2018</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20 vs '19</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,876</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$363,944</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$300,929</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">0</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">194,305&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">232,146&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">219,162&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(16)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales - standby costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,112&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,405&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,584&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">93,667&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">258,822&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">297,730&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">312,829&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating earnings (loss)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">105,054</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">66,214</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(11,900)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,855&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,800&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,428&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,325&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,375&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Impairment of non-current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,739&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">199,688&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(100)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,893&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine holding costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,583&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,579&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,109&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Loss on divestiture of exploration projects</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,685&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange loss (gain) </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,243)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,874&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating earnings (loss)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">40,357</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(31,986)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(249,267)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value adjustment on foreign currency derivatives</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(982)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment and other income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,127&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,109&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(744)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,773)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(15,147)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13,036)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">29,729</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(39,024)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(263,047)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,966&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,423&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,148&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax recovery</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,324)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,973)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(61,031)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax expense (recovery)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,642&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,450&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(58,883)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the year</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$23,087</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($40,474)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($204,164)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10)</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per share (basic and diluted)</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.11</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.20)</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($1.11)</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the year ended December&#160;31, 2020 was consistent with the previous year, primarily due to the following offsetting factors&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 29% increase in realized silver price per ounce sold, which averaged $21.15 during the year compared to $16.40 in the prior year, resulting in a $71.5 million increase in revenues&#59; </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $2.1 million decrease in smelting and refining charges due to less ounces sold and lower treatment charges for dor&#233; production&#59;</font></div><div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Partially offset by&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 20%</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">decrease in silver equivalent ounces sold compared to the previous year resulting in a $73.7 million decrease in revenue. The decrease in production was primarily attributed to the temporary COVID-19 Suspension and units operating with limited workforce levels. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Cost of sales</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the year decreased $37.8 million or 16% compared to 2019 as a result of the following factors&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $39.5 million cost reduction relates to planned suspension of operating activities at the Company's higher cost operations including Del Toro and La Parrilla during 2019&#59; and</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a decrease in production costs due to reduction in operational days pursuant to the temporary COVID-19 Suspension during the second quarter, </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">cost benefits from a weaker Mexican Peso against the U.S. Dollar, which averaged 12% lower than the previous year&#59;</font></div><div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Partially offset by&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $5.2 million increase in workers participation benefits and productivity bonus due to negotiated union bonus agreements and higher profitability margins during the year. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Standby costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the year were primarily related to direct costs incurred at the San Dimas ($3.5 million), Santa Elena ($2.0 million) and La Encantada ($1.7 million) mines during the temporary COVID-19 Suspensions, as well as $2.0&#160;million incurred during a 13-day union work stoppage at San Dimas during the second quarter of 2020. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.66pt">Depletion, depreciation and amortization</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the year decreased $11.2 million or 17% compared to the previous year primarily attributed to planned suspension of operating activities at the Del Toro, La Parrilla and San Martin mines.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Impairment on non-current assets&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In 2019, the Company recorded an impairment charge of $58.7 million, or $52.4&#160;million net of tax, in relation to the La Encantada mine. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Mine holding costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the year increased $14.0 million compared to the previous year due to a full year of suspension of operating activities at the Del Toro, La Parrilla and San Martin mines which were placed on planned suspension in the second half of 2019. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Loss on divestiture of exploration projects </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of $3.7 million during the year relates to $10.2 million loss on the sale of the Plomosas project to GR Silver Mining Ltd. in March 2020, partially offset by $6.5 million gain on the arrangement to option the La Joya project to Silver Dollar Resources Inc. in September 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Fair value adjustment on foreign currency derivatives</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of $1.0 million loss during the year relates to mark-to-market adjustments on the Company's foreign currency derivatives, which have been fully settled as at December 31, 2020. The Company utilizes these foreign currency options and swaps to hedge cash flows relating to mining operations, exploration and evaluation activities and corporate expenses in Mexican Pesos. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.42pt">During the year ended December&#160;31, 2020, the Company recorded an </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">income tax expense </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of $6.6 million, compared to an income tax expense of $1.5 million in 2019. The increase in income tax expense was primarily driven by increase in operating earnings, a $6.3 million deferred tax recovery recognized in the previous year in relation to impairment on non-current assets, and the foreign exchange impact on the Company's Mexican Peso denominated future income tax liability balances.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.36pt">As a result of the foregoing, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">net earnings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the year ended December&#160;31, 2020 was $23.1 million (EPS of $0.11), compared to a loss of $40.5 million (EPS of ($0.20)) in the prior year. </font></div><div><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_73"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.501%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:55.299%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">SUMMARY OF QUARTERLY RESULTS</font></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:4pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">The following table presents selected financial information for each of the most recent eight quarters&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.511%"><tr><td style="width:1.0%"></td><td style="width:35.758%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.555%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.603%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.555%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.611%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Selected Financial Information</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$117,075&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$125,881&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$34,855&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$86,065&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$96,476&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$96,989&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$83,669&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$86,810&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$58,008&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$60,275&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$26,187&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$49,835&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$55,033&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$54,994&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$62,772&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$59,347&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of sales - standby costs</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$9,166&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$946&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$15,399&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$17,573&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$7,264&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$14,169&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$17,502&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$14,181&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$16,691&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$17,210&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mine operating earnings (loss) </font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$43,668&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$48,033&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($7,762)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$21,115&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$23,941&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$27,814&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$4,206&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$10,253&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net earnings (loss) after tax</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$34,545&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$30,946&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($9,968)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($32,436)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($39,946)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$8,559&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($11,967)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$2,880&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings (loss) per share - basic</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.16&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.14&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.05)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.15)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.19)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.04&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.06)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.01&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings (loss) per share - diluted</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.15&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.14&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.05)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.15)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.19)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.04&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($0.06)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.01&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the fourth quarter of 2020, mine operating earnings were $43.7 million compared to $48.0&#160;million in the previous quarter. The decrease in mine operating earnings was primarily due to the third quarter sale of withheld inventories from the second quarter. During the quarter, the Company also recognized a foreign exchange gain of $2.4 million compared to a loss of $5.3 million in the previous quarter. As a result, net earnings for the quarter was $34.5&#160;million compared to $30.9&#160;million in the previous quarter.</font></div><div><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_76"></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.751%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.049%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">LIQUIDITY, CAPITAL RESOURCES AND CONTRACTUAL OBLIGATIONS</font></td></tr></table></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Liquidity</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, the Company had cash and cash equivalents of $238.6 million, comprised primarily of cash held with reputable financial institutions and is invested in cash accounts and in highly liquid short-term investments with maturities of three months or less. With the exception of $6.4 million held in-trust for tax audits in Mexico, the Company's cash and cash equivalents are not exposed to liquidity risk and there are no restrictions on the ability of the Company to use these funds to meet its obligations. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Working capital as at December&#160;31, 2020 was $254.4 million compared to $171.1&#160;million at December&#160;31, 2019. Total available liquidity at December&#160;31, 2020 was $319.4 million (see page 45), including $65.0&#160;million of undrawn revolving credit facility. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the Company's cash flow activity during the year&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:75.239%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.060%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.062%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flow</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash generated by operating activities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$79,713&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$140,025&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash used in investing activities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(127,115)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(116,934)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash generated by financing activities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">116,574&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">87,680&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Increase in cash and cash equivalents</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$69,172</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$110,771</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Effect of exchange rate on cash and cash equivalents held in foreign currencies    </font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">397&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,225&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents, beginning of the year</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">169,009&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57,013&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash and cash equivalents, end of year</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$238,578</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$169,009</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s cash flows from operating, investing and financing activities during the year ended December&#160;31, 2020 are summarized as follows&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash generated by operating activities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of $79.7 million, primarily due to&#58;</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$107.3 million in operating cash flows from operating activities before movements in working capital and taxes&#59; </font></div><div style="margin-bottom:3pt;padding-left:54pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">net of&#58;</font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$22.8 million in net change in non-cash working capital items during the period, including $27.5 million increase in VAT receivables, $4.3 million increase in inventories, net of $10.8 million decrease in trade and other payables&#59; and</font></div><div style="margin-bottom:6pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$4.8 million in income taxes paid during the period.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash used in investing activities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of $127.1 million, primarily related to&#58;</font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$68.6 million spent on mine development and exploration activities&#59; </font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$43.3 million spent on purchase of property, plant and equipment&#59; and</font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$13.8 million spent on deposits on non-current assets.</font></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash provided by financing activities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of $116.6 million, primarily consists of the following&#58;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$126.1 million of net proceeds from prospectus offerings&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$14.0 million of net proceeds from the exercise of stock options&#59; and</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">net of&#58;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$10.0 million net repayment of debt facility&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$7.7 million on repayment of lease obligations&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$4.2 million payment of financing costs&#59; and</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$1.7 million on repurchase of shares.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Reconciliation on Use of Proceeds from Prospectus Offerings</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">At-the-Market Distributions (&#34;ATM&#34;) Programs</font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the year ended December&#160;31, 2020, the Company sold 5,654,338 common shares under the ATM programs at an average price of $12.31 for gross proceeds of $69.6&#160;million, or net proceeds of $67.9&#160;million after costs. The primary business objectives that the Company expected to use the net proceeds for was for general working capital purposes, for expansion of existing operations, and for one or more other general corporate purposes including to complete corporate acquisitions, to, directly or indirectly, finance future growth opportunities and to repay existing or future indebtedness. The use of proceeds from the amount raised in the current year is reconciled as follows&#58;</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross Proceeds&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$67,892</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Use of Proceeds&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Offering expenses</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,709&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine development</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,487&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine exploration</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,880&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General working capital</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,816&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$67,892</font></td></tr></table></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Prospectus Offering</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2020, the Company completed a bought deal prospectus offering to sell 5,000,000 common shares at a price of $11.82 (CAD$15.60) per common share for gross proceeds of $59.1 million (CAD$78.1 million), or net proceeds of $58.3&#160;million after costs. The use of net proceeds from the offering is reconciled as follows&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.298%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.632%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.632%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.038%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Use of Proceeds&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Intended</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Actual</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Variance</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Offering expenses</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$742</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$853</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$111</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ermita&#241;o expansion</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,606&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,335&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">729&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">La Encantada plant upgrades</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,576&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,712&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(864)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Santa Elena plant upgrades</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,833&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,747&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,086)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">San Dimas plant upgrades</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,591&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,331&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,260)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Working capital and general purposes</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,742&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36,112&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,370&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$59,090</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$59,090</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) &#160;&#160;&#160;&#160;Development for the Ermita&#241;o expansion was accelerated during the fourth quarter and the intended proceeds were used in 2020. </font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) &#160;&#160;&#160;&#160;Plant upgrades at La Encantada consist of installation of a new HIG mill and mill modernization and are estimated to be complete in the first half of 2022. The remaining balance of proceeds are expected to be expended in 2021 and 2022.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) &#160;&#160;&#160;&#160;Plant upgrades at Santa Elena consist of installation of HIG mill, AG conversion and dual circuit optimization which are all expected to be complete in the second half of 2021 and installation of a new LNG plant which is expected to be complete in the first quarter of 2021. The remaining balance of proceeds are expected to be expended in 2021.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4) &#160;&#160;&#160;&#160;Plant upgrades at San Dimas consist of mill modernization, which is expected to be complete in the first half of 2022, and assembly and installation of the new HIG mill which is expected to be completed in the second quarter of 2021, followed by commissioning in the fourth quarter of 2021. The remaining balance of proceeds are expected to be expended in 2021 and 2022.</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Capital Resources</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s objective when managing capital is to maintain financial flexibility to continue as a going concern while optimizing growth and maximizing returns of investments from shareholders. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company monitors its capital structure and based on changes in operations and economic conditions, may adjust the structure by repurchasing shares, issuing new shares, issuing new debt or retiring existing debt. The Company prepares an annual budget and quarterly forecasts to facilitate the management of its capital requirements. The annual budget is approved by the Company&#8217;s Board of Directors.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is not subject to any externally imposed capital requirements with the exception of complying with banking covenants defined in its debt facilities. As at December&#160;31, 2020 and 2019, the Company was fully in compliance with these covenants.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Contractual Obligations and Commitments </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at December&#160;31, 2020, the Company&#8217;s contractual obligations and commitments are summarized as follows&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.702%"><tr><td style="width:1.0%"></td><td style="width:39.497%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.243%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.094%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.392%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.395%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contractual<br>Cash Flows</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Less than <br>1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2 to 3<br>years</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4 to 5<br>years</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">After 5 years</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$76,002&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$76,002&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">174,082&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,180&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">160,902&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,520&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,557&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,562&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,692&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">709&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,406&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,406&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Purchase obligations and commitments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50,541&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45,541&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,000&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$322,551</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$139,280</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$172,464</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,692</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,115</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2020, the Company had working capital of $254.4 million (2019 &#8211; $171.1 million) and total available liquidity of $319.4 million (2019 &#8211; $226.2 million), including $65.0&#160;million of undrawn revolving credit facility. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes it has sufficient cash on hand, combined with cash flows from operations, to meet operating requirements as they arise for at least the next 12 months.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_79"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:47.561%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">MANAGEMENT OF RISKS AND UNCERTAINTIES</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company thoroughly examines the various financial instruments and risks to which it is exposed and assesses the impact and likelihood of those risks. These risks may include credit risk, liquidity risk, currency risk, commodity price risk, and interest rate risk. Where material, these risks are reviewed and monitored by the Board of Directors.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk is the risk of financial loss if a customer or counterparty fails to meet its contractual obligations. The Company&#8217;s credit risk relates primarily to chartered banks, trade receivables in the ordinary course of business, value added taxes receivable and other receivables.<br><br>As at December 31, 2020, value added taxes (&#8220;VAT&#8221;) receivable was $56.9 million (2019 - $29.6 million), of which $37.9&#160;million (2019 - $14.2 million) relates to Primero Empresa Minera, S.A. de C.V. (&#34;PEM&#34;). Servicio de Administraci&#243;n Tributaria (&#8220;SAT&#8221;) has not been responsive to VAT refund requests by PEM nor provided any legal basis for withholding these VAT receivables. The Company believes that it has full legal rights to these VAT refunds and expects the amounts to be refunded in the future. As at December 31, 2020, VAT receivables totaling $15.3 million are currently being pursued in Mexican Courts. Due to the uncertain timeline associated with recovery of these amounts, the Company reclassified such amounts as non-current assets though, in the Company's opinion, such amounts are currently due and payable to the Company. <br><br>The Company sells and receives payment upon delivery of its silver dor&#233; and by-products primarily through three international customers. All of the Company's customers have good ratings and payments of receivables are scheduled, routine and fully received within 60 days of submission&#59; therefore, the balance of trade receivables owed to the Company<br>in the ordinary course of business is not significant.<br><br>The carrying amount of financial assets recorded in the consolidated financial statements represents the Company&#8217;s maximum exposure to credit risk. With the exception to the above, the Company believes it is not exposed to significant credit risk.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they arise. The Company manages liquidity risk by monitoring actual and projected cash flows and matching the maturity profile of financial assets and liabilities. Cash flow forecasting is performed regularly to ensure that there is sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and our holdings of cash and cash equivalents.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Currency Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to foreign exchange risk primarily relating to financial instruments that are denominated in Canadian dollars or Mexican pesos, which would impact the Company&#8217;s net earnings or loss. To manage foreign exchange risk, the Company may occasionally enter into short-term foreign currency derivatives, such as forwards and options, to hedge its cash flows. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity of the Company&#8217;s net earnings or loss and comprehensive income or loss due to changes in the exchange rates of the Canadian Dollar and the Mexican Peso against the U.S. Dollar is included in the table below&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:24.792%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.167%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.619%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="39" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2020</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Value added taxes receivable</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other financial assets</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Trade and other payables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net assets (liabilities) exposure</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in currency</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Canadian dollar</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$75,958&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$74&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$10,140&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($3,133)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$83,039&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$8,304&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mexican peso</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,369&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">53,201&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(42,763)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,807&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,881&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$84,327</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$74</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$53,201</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10,140</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">($45,896)</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$101,846</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10,185</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Commodity Price Risk</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to commodity price risk on silver and gold, which have a direct and immediate impact on the value of its related financial instruments and net earnings. The Company&#8217;s revenues are directly dependent on commodity prices that have shown volatility and are beyond the Company&#8217;s control. The Company does not use derivative instruments to hedge its commodity price risk to silver</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the Company&#8217;s exposure to commodity price risk and their impact on net earnings&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.692%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.808%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.810%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in metal prices</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Silver</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gold</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Metals in dor&#233; inventory</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$104&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$226&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$330&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$104</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$226</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$330</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Political and Country Risk</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic currently conducts foreign operations primarily in M&#233;xico, and as such the Company&#8217;s operations are exposed to various levels of political and economic risks by factors outside of the Company&#8217;s control. These potential factors include, but are not limited to&#58; royalty and tax increases or claims by governmental bodies, expropriation or nationalization, foreign exchange controls, high rates of inflation, extreme fluctuations in foreign currency exchange rates, import and export tariffs and regulations, lawlessness, cancellation or renegotiation of contracts and environmental and permitting regulations. The Company currently has no political risk insurance coverage against these risks. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is unable to determine the impact of these risks on its future financial position or results of operations. Changes, if any, in mining or investment policies or shifts in political attitude in foreign countries may substantively affect the Company&#8217;s exploration, development and production activities.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Uncertainty in the Calculation of Mineral Reserves, Resources and Silver Recovery </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There is a degree of uncertainty attributable to the calculation of Mineral Reserves and Mineral Resources (as defined in NI 43-101). Until Mineral Reserves or Mineral Resources are actually mined, extracted and processed, the quantity of minerals and their grades must be considered estimates only. In addition, the quantity of Mineral Reserves and Mineral Resources may vary depending on, among other things, applicable metal prices. Any material change in the quantity of Mineral Reserves, Mineral Resources, grade or mining widths may affect the economic viability of some or all of the Company&#8217;s mineral properties and may have a material adverse effect on the Company's operational results and financial condition. Mineral Reserves on the Company&#8217;s properties have been calculated on the basis of economic factors at the time of calculation&#59; variations in such factors may have an impact on the amount of the Company&#8217;s Mineral Reserves. In addition, there can be no assurance that silver recoveries or other metal recoveries in small scale laboratory tests will be duplicated in larger scale tests under on-site conditions or during production, or that the existing known and experienced recoveries will continue.</font></div><div><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Public Health Crises </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Global financial conditions and the global economy in general have, at various times in the past and may in the future, experience extreme volatility in response to economic shocks or other events, such as the ongoing situation concerning COVID&#8208;19. Many industries, including the mining industry, are impacted by volatile market conditions in response to the widespread outbreak of epidemics, pandemics or other health crises. Such public health crises and the responses of governments and private actors can result in disruptions and volatility in economies, financial markets and global supply chains as well as declining trade and market sentiment and reduced mobility of people, all of which could impact commodity prices, interest rates, credit ratings, credit risk and inflation. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's business could be materially adversely affected by the effects of the COVID&#8208;19 pandemic. As at the date of this MD&#38;A, the global reactions to the spread of COVID&#8208;19 have led to, among other things, significant restrictions in many jurisdictions on travel and gatherings of individuals, quarantines, temporary business closures and a general reduction in consumer activity. Although quarantines have been lifted in many jurisdictions, certain jurisdictions that have previously lifted quarantines have been required to re-impose them. While these effects are expected to be temporary, the duration of the disruptions to business internationally and the related financial impact on the Company and the economy in general cannot be estimated with any degree of certainty at this time. In addition, the increasing number of individuals infected </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">with COVID&#8208;19 has resulted in a widespread global health crisis that has adversely affected global economies and financial markets and could result in a protracted economic downturn that could have an adverse effect on the demand for precious metals and the Company's future prospects. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In particular, the continued spread of COVID&#8208;19 globally could materially and adversely impact the Company's business, including without limitation, employee health, workforce availability and productivity, limitations on travel, supply chain disruptions, increased insurance premiums, increased costs and reduced efficiencies, the availability of industry experts and personnel, restrictions on the Company's exploration and drilling programs and&#47;or the timing to process drill and other metallurgical testing and the slowdown or temporary suspension of operations at some or all of the Company's properties, resulting in reduced production volumes. Although the Company has the capacity to continue certain administrative functions remotely, many other functions, including mining operations, cannot be conducted remotely.  </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 24, 2020, the Mexican federal government implemented a decree imposing certain preventive measures aimed at mitigating the impact of COVID&#8208;19. The decree temporarily suspended certain activities relating to physical gatherings and the transit or movement of individuals and was subsequently amended to restrict access and require the closure of the Company&#8217;s mines from April 3, 2020. On May 13, 2020, the Mexican government officially confirmed that mining was deemed essential and operations were permitted to restart on May 18, 2020. On May 23, 2020, Mexican government authorized the Company to restart its mining operations, however, there can be no guarantee that the decree will not be amended in the future to impose more severe measures or restrictions or that state governments in those jurisdictions in which the Company&#8217;s facilities are located will not pass similar decrees reducing or preventing access to the Company&#8217;s facilities, potentially causing disruption or closure of one or more of the Company&#8217;s mines.   </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the temporary closures of its facilities the Company experienced loss of production at its facilities during the second and third financial quarters of 2020. As at early November, the Company&#8217;s three operating mines had returned to normal operations. Worker availability is a challenge but has been gradually improving and is being mitigated by increasing the use of temporary workers and contractors. The Company is in the process of constructing Polymerase Chain Reaction (&#34;PCR&#34;) laboratory test facilities on site at San Dimas and partnering with test labs at Santa Elena to speed up COVID-19 testing capabilities at its mine sites. Preventative control measures to protect the safety and health of our employees, contractors and communities in which we operate, including social distancing, remote working, cancellation of any non-essential visits to the mines, comprehensive sanitation measures for the workplace and company transportation, as well as pre-screening for virus symptoms remain in effect.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There is no guarantee that the Company will not experience significant disruptions to or additional closures of some or all of its active mining operations due to COVID-19 restrictions in the future. Any such disruptions or closures could have a material adverse effect on the Company&#8217;s production, revenue, net income and business. In addition, parties with whom the Company does business or on whom the Company is reliant, including suppliers and refineries may also be adversely impacted by the COVID-19 crisis which may in turn cause further disruption to the Company&#8217;s business, including delays or halts in availability or delivery of consumables and delays or halts in refining of ore from the Company&#8217;s mines. Any long term closures or suspensions may also result in the loss of personnel or the workforce in general as employees seek employment elsewhere.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The impact of COVID&#8208;19 and government responses thereto may also continue to have a material impact on financial markets and could constrain the Company's ability to obtain equity or debt financing in the future, which may have a material and adverse effect on its business, financial condition and results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">Environmental and Health and Safety Risks</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s activities are subject to extensive laws and regulations governing environmental protection and employee health and safety. Environmental laws and regulations are complex and have tended to become more stringent over time. The Company is required to obtain governmental permits and in some instances air, water quality, and mine reclamation rules and permits. The Company has complied with environmental taxes applied to the use of certain fossil fuels according to the Kyoto Protocol. Although the Company makes provisions for reclamation costs, it cannot be assured that these provisions will be adequate to discharge its future obligations for these costs. Failure to comply with applicable environmental and health and safety laws may result in injunctions, damages, suspension or revocation of permits and imposition of penalties. While the health and safety of our people and responsible environmental stewardship are our top priorities, there can be no assurance that First Majestic has been or will be at all times in complete compliance with such laws, regulations and permits, or that the costs of complying with current and future environmental and health and safety laws and permits will not materially and adversely affect the Company&#8217;s business, results of operations or financial condition.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Claims and Legal Proceedings Risks</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of business activities. 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&#58; availability of time on court calendars in Canada and elsewhere&#59; the recognition of Canadian judgments under Mexican law&#59; the possibility of settlement discussions&#59; the risk of appeal of judgment&#59; and the insufficiency of the defendant&#8217;s assets to satisfy the judgment amount. Each of these matters is subject to various uncertainties and it is possible that some of these matters may be resolved unfavourably to the Company. First Majestic carries liability insurance coverage and establishes provisions for matters that are probable and can be reasonably estimated. In addition, the Company may be involved in disputes with other parties in the future which may result in a significant impact on our financial condition, cash flow and results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although the Company has taken steps to verify ownership and legal title to mineral properties in which it has an interest, according to the usual industry standards for the stage of mining, development and exploration of such properties, these procedures do not guarantee the Company&#8217;s title. Such properties may be subject to prior agreements or transfers, and title may be affected by undetected defects. However, management is not aware of any such agreements, transfers or defects. </font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Primero Tax Rulings</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When Primero Mining Corp. (&#34;Primero&#34;) acquired the San Dimas Mine in August 2010, it had a Silver Purchase Agreement (&#8220;Old Stream Agreement&#8221;) that required PEM to sell 100% of the silver produced from the San Dimas mine to WPM, up to 6 million ounces and 50% of silver produced thereafter, at the lower of&#58; (i) the spot market price and (ii) $4.04 per ounce plus an annual increase of 1%. </font></div><div style="padding-right:6.75pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to reflect commercial realities and the effects of the Old Stream Agreement, for Mexican income tax purposes, PEM recognized the revenue on these silver sales based on its actual realized revenue (&#8220;PEM Realized Price&#8221;) instead of at spot market prices.</font></div><div style="padding-right:6.75pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To obtain assurance that the SAT would accept the PEM Realized Price as the price to use to calculate Mexican income taxes, Primero applied for and received an Advance Pricing Agreement (&#8220;APA&#8221;) from the SAT. The APA confirmed that the PEM Realized Price would be used as Primero&#8217;s basis for calculating taxes owed by Primero on the silver sold under the Old Stream Agreement. Primero believed that the intent of an APA was to have SAT provide tax certainty and as a result made significant investments in Mexico based on that certainty. On October 4, 2012, Primero received the APA Ruling from SAT which confirmed the appropriate price for sales of silver under the Old Stream Agreement was the PEM Realized Price. Under Mexican tax law, an APA ruling is generally applicable for a five year period and this ruling was made effective for 2010 to 2014.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2016, PEM received a legal claim from the SAT seeking to nullify the APA. The legal claim initiated does not identify any different basis for paying taxes. The Company is continuing PEM's effort to vigorously defend the validity of its APA. If the SAT were successful in retroactively nullifying the APA, the SAT may seek to audit and reassess PEM in respect of its sales of silver in connection with the Old Stream Agreement for 2010 through 2014. If the SAT were successful in retroactively nullifying the APA and issuing reassessments, it would likely have a material adverse effect on the Company&#8217;s results of operations, financial condition and cash flows. Should the Company ultimately be required to pay tax on its silver revenues based on market prices without any mitigating adjustments, the incremental income tax for the years 2010-2018 would be approximately $219.2&#160;million (4,373 million MXN), before interest or penalties.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2019, as part of the ongoing annual audits of the PEM tax returns, the SAT issued reassessments (the &#34;Reassessments&#34;) for the 2010 to 2012 tax years in the total amount of $246.6 million (4,919 million MXN) inclusive of interest, inflation, and penalties. The Company believes that the Reassessments were issued in violation of the terms of the APA. The key items relate to the view that PEM should pay taxes based on the market price of silver and denial of the deductibility of interest expense and service fees in Mexico all of which the Company disagrees with. The Company continues to defend the APA in the Mexican legal proceedings, and initiated proceedings under relevant tax treaties between the competent tax authorities of Mexico, Canada, Luxembourg and Barbados, all of which were subsequently dismissed on a unilateral basis by the SAT (&#34;Dismissals&#34;) in May 2020. The Company believes that the Dismissals have no legal basis and breach international obligations regarding double taxation treaties, and that the APA remains valid and legally binding. The Company will continue disputing the Reassessments, exhausting its domestic and international remedies. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While the Company continues to vigorously defend the validity of the APA and its transfer pricing position, it is also engaging in various proceedings with the SAT seeking to resolve matters and bring tax certainty through a negotiated solution. Despite these extensive efforts and ongoing legal challenges to the Reassessments and the Dismissals, in April 2020, SAT issued notifications to PEM to attempt to secure amounts it claims are owed pursuant to its reassessments issued. These notifications impose certain restrictions on PEM including its ability to dispose its concessions and real properties. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has challenged SAT&#8217;s Reassessments and Dismissals through all domestic means available to it, including annulment suits before the Mexican Federal Tax Court on Administrative Matters (&#34;Federal Court&#34;), which has yet to be resolved, and a complaint before Mexico&#8217;s Federal Taxpayer Defense Attorney's Office (known as &#8220;PRODECON&#8221;), which determined that PEM has all legal remedies at its disposal and it has already challenged every SAT ruling, thus the matter must be decided by Mexican Courts. The Company believes that these actions are neither fair nor equitable and are discriminatory against the Company as a foreign investor and amount to a denial of justice under international law, in addition to violating various provisions of the Federal Constitution of the United Mexican States and Mexican domestic law, and Mexican court precedents. As a result, on May 13, 2020, the Company provided to the Government of Mexico notice of its intention to initiate an international arbitration proceeding (&#8220;Notice of Intent&#8221;) pursuant to the North American Free Trade Agreement (&#8220;NAFTA&#8221;). The Notice of Intent initiated a 90-day period for the Government of Mexico to enter into good faith and amicable negotiations with the Company to resolve the dispute. On August 11, 2020, the 90-day period expired without any resolution of the dispute.</font></div><div style="padding-right:2.25pt;text-align:justify"><font><br></font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2020, the Company was served with a decision made by the Federal Court to nullify the APA granted to PEM. The Federal Court&#8217;s decision directs SAT to re-examine the evidence and basis for the issuance of the APA with retroactive effect, for the following key reasons&#58; </font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">        (i) SAT&#8217;s errors in analyzing PEM&#8217;s request for the APA and the evidence provided in support of the request&#59; and </font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">        (ii) SAT&#8217;s failure to request from PEM certain additional information before issuing the APA. </font></div><div style="padding-right:2.25pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company&#8217;s legal advisors reviewed the written reasons and are of the view that the Federal Court&#8217;s decision is flawed both due to SAT's procedural irregularities and failure to address the relevant evidence and legal authorities. In addition, they consider that the laws applied to PEM in the decision are unconstitutional. As a result, the Company filed an appeal of the decision to the Mexican Circuit Courts on November 30, 2020. The Company is unable to provide any certainty as to the outcome or timing of such challenge. No tax is payable under the Reassessments while such challenges are in process.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-right:2.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the Company&#8217;s assessments with third party advisors, the Company believes Primero filed its tax returns compliant with applicable Mexican law and, therefore, no liability has been recognized in the financial statements. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent it is ultimately determined that the appropriate price of silver sales under the Old Stream Agreement is significantly different from the PEM Realized Price and while PEM would have rights of appeal in connection with any reassessments, it is likely to have a material effect on the Company&#8217;s business, financial position and results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">La Encantada Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, as part of the ongoing annual audits of the tax returns of Minera La Encantada S.A. de C.V. (&#8220;MLE&#8221;), the SAT issued tax assessments for fiscal 2012 and 2013 in the amount of $7.8 million (155.5 million MXN) and $6.3 million (126.6 million MXN), respectively.&#160; The key items relate to a forward silver purchase agreement and denial of the deductibility of mine development costs and service fees.&#160; The Company continues to defend the validity of the forward silver purchase agreement and will vigorously dispute the assessments that have been issued.&#160; The Company believes MLE&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.&#160;The Company&#8217;s legal and financial advisors continue to believe that the Company has filed its tax returns in compliance with applicable Mexican law.&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="text-align:justify"><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_82"></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.501%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:55.299%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">OTHER FINANCIAL INFORMATION</font></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Share Repurchase Program</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has an ongoing share repurchase program to repurchase up to 5% of the Company&#8217;s issued and outstanding shares. The normal course issuer bids will be carried through the facilities of the Toronto Stock Exchange and alternative Canadian marketplaces. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December&#160;31, 2020, the Company repurchased and cancelled 275,000 common shares for a total consideration of $1.7 million, an average price of CAD$8.56 per share, through a normal course issuer bid in the open market as approved by the Toronto Stock Exchange. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Off-Balance Sheet Arrangements</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2020, the Company had no material off-balance sheet arrangements such as contingent interest in assets transferred to an entity, derivative instruments obligations or any obligations that generate financing, liquidity, market or credit risk to the Company, other than contingent liabilities and vendor liability and interest, as disclosed in this MD&#38;A and the consolidated financial statements and the related notes. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Related Party Disclosures</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amounts paid to related parties were incurred in the normal course of business and measured at the exchange amount, which is the amount agreed upon by the transacting parties and on terms and conditions similar to non-related parties. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2020, the Company completed the agreement with First Mining Gold Corp., to purchase 50% of the payable silver produced from the Springpole Gold Project for total consideration of $22.5 million in cash and shares, over three payments, for the silver stream which covers the life of the Springpole project (see &#34;Corporate Development Highlights&#34;). First Mining is a related party with two independent board members who are directors and&#47;or officers of First Majestic.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With the exception of the agreement with First Mining Gold Corp., there were no transactions with related parties outside of the ordinary course of business during the year ended December&#160;31, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Outstanding Share Data</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As at February&#160;17, 2021, the Company has 222,660,666 common shares issued and outstanding.</font></div><div style="text-align:justify"><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_88"></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:38.930%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">ACCOUNTING POLICIES, JUDGMENTS AND ESTIMATES</font></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Critical Accounting Judgments and Estimates</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with IFRS as issued by IASB requires management to make judgments, estimates and assumptions about future events that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management&#8217;s best knowledge of the amount, events or actions, actual results may differ from these estimates. During the year ended December 31, 2020, there were no changes in critical accounting judgments and estimates that were significantly different from those disclosed in the Company's annual MD&#38;A as at and for the year ended December 31, 2019.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Future Changes in Accounting Policies Not Yet Effective as at December 31, 2020</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%;text-decoration:underline">Interest Rate Benchmark Reform &#8212; Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments in Interest Rate Benchmark Reform &#8212; Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) introduce a practical expedient for modifications required by the reform, clarify that hedge accounting is not discontinued solely because of the IBOR reform, and introduce disclosures that allow users to understand the nature and extent of risks arising from the IBOR reform to which the entity is exposed to and how the entity manages those risks as well as the entity&#8217;s progress in transitioning from IBORs to alternative benchmark rates, and how the entity is managing this transition.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2021, with early application permitted. This amendment is not expected to have a material impact on the Company&#8217;s financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Property, Plant and Equipment &#8212; Proceeds before Intended Use (Amendments to IAS 16)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognises the proceeds from selling such items, and the cost of producing those items, in profit or loss.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2022, with early application permitted. The amendments are applied retrospectively, but only to items of property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after the beginning of the earliest period presented in the financial statements in which the Company first applies the amendments. The Company will recognise the cumulative effect of initially applying the amendments as an adjustment to the opening balance of retained earnings at the beginning of that earliest period presented. This amendment will impact the Company&#8217;s accounting for proceeds from mineral sales prior to reaching commercial production levels intended by management.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Classification of Liabilities as Current or Non-Current (Amendments to IAS 1)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are applied on or after the first annual reporting period beginning on or after January 1, 2023, with early application permitted. This amendment is not expected to have a material impact on the Company&#8217;s financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_91"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.090%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:72.710%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NON-GAAP MEASURES</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has included certain non-GAAP measures including &#8220;Cash costs per ounce&#8221;, &#8220;Production cost per tonne&#8221;, &#8220;All-in sustaining costs per ounce&#8221;, &#8220;Average realized silver price&#8221;, &#8220;Adjusted earnings per share&#8221;, &#8220;Cash flow per share&#8221; and &#34;Working capital&#8221; to supplement its consolidated financial statements, which are presented in accordance with IFRS. The terms IFRS and generally accepted accounting principles (&#8220;GAAP&#8221;) are used interchangeably throughout this MD&#38;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash Cost per Ounce, All-In Sustaining Cost per Ounce and Production Cost per Tonne </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash costs per ounce and total production cost per tonne are non-GAAP measures used by the Company to manage and evaluate operating performance at each of the Company&#8217;s operating mining units, and are widely reported in the mining industry as benchmarks for performance, but do not have a standardized meaning and are disclosed in addition to IFRS measures. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All-in sustaining cost (&#8220;AISC&#8221;) is a non-GAAP measure and was calculated based on guidance provided by the World Gold Council (&#8220;WGC&#8221;). WGC is not a regulatory industry organization and does not have the authority to develop accounting standards for disclosure requirements. Other mining companies may calculate AISC differently as a result of differences in underlying accounting principles and policies applied, as well as differences in definitions of sustaining versus expansionary capital expenditures. AISC is a more comprehensive measure than cash cost per ounce for the Company&#8217;s consolidated operating performance by providing greater visibility, comparability and representation of the total costs associated with producing silver from its current operations. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company defines sustaining capital expenditures as, &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">costs incurred to sustain and maintain existing assets at current productive capacity and constant planned levels of productive output without resulting in an increase in the life of assets, future earnings, or improvements in recovery or grade. Sustaining capital includes costs required to improve&#47;enhance assets to minimum standards for reliability, environmental or safety requirements. Sustaining capital expenditures excludes all expenditures at the Company&#8217;s new projects and certain expenditures at current operations which are deemed expansionary in nature.&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expansionary capital expenditure is defined as, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#34;costs incurred to extend existing assets beyond their current productive capacity and beyond their planned levels of productive output, resulting in an increase in the life of the assets, increasing their future earnings potential, or improving their recoveries or grades which would serve to increase the value of the assets over their useful lives&#34;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Development and exploration work which moves inferred resources to measured or indicated resources and adds to the Net Present Value of the assets is considered expansionary in nature. Expansionary capital also includes costs required to improve&#47;enhance assets beyond their minimum standard for reliability, environmental or safety requirements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Consolidated AISC includes total production cash costs incurred at the Company&#8217;s mining operations, which forms the basis of the Company&#8217;s total cash costs. Additionally, the Company includes sustaining capital expenditures, corporate general and administrative expense, share-based payments, operating lease payments and reclamation cost accretion. AISC by mine does not include certain corporate and non-cash items such as general and administrative expense and share-based payments. The Company believes this measure represents the total sustainable costs of producing silver from current operations, and provides additional information of the Company&#8217;s operational performance and ability to generate cash flows. As the measure seeks to reflect the full cost of silver production from current operations, new project and expansionary capital at current operations are not included. Certain other cash expenditures, including tax payments, dividends and financing costs are also not included. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective January 1, 2021, the Company is transitioning its cost reporting from Cost per Payable Silver Ounce to Cost per Payable Silver Equivalent Ounce (&#34;AgEq Oz&#34;) basis. Management believes the change to using Payable AgEq Oz will provide management and investors with an improved ability to evaluate operating performance of the Company, as it eliminates volatility in Cash Cost and AISC per ounce due to market volatility in silver and gold prices as well as timing of by-product credit sales. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_97"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables provide detailed reconciliations of these measures to cost of sales, as reported in notes to our consolidated financial statements.</font></div><div style="margin-bottom:5pt;margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.252%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(expressed in thousands of U.S. Dollars,   <br>except ounce and per ounce amounts)</font></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended December 31, 2020</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mining cost</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12,669&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$4,461&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$3,106&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$20,236&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,028&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,308&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,573&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,909&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,497&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,757&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,183&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,437&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$28,194</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$14,526</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10,862</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$53,582</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Add&#58; transportation and other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">433&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">134&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">160&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">784&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">471&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">107&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">241&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">819&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Add&#58; environmental duty and royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">425&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">141&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">665&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total cash cost before by-product credits (B)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$29,523</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$14,864</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$11,404</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$55,850</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deduct gold by-product credits (C)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($23,256)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($9,981)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($93)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($33,328)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total cash cost (D &#61; B - C)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$6,267</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$4,883</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$11,311</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$22,522</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,103&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">87&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,245&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,727&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,227&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">149&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">125&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">623&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Sustaining capital expenditures</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,999&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,636&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,298&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,507&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">963&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">646&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,024&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">All-In Sustaining Costs (E)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$19,576</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$9,615</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$13,467</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$54,875</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payable silver ounces produced (F)</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,940,315</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">417,735</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,089,147</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,447,196</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payable silver equivalent ounces produced (G)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,475,323</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">900,729</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,094,268</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,470,319</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Tonnes milled (H)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">208,648</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">168,276</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">248,408</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">625,332</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce, before by-product credits (B&#47;F)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$15.22</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$35.58</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.47</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$16.20</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce (D&#47;F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$3.23</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$11.69</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.39</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$6.53</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">AISC per payable silver ounce (E&#47;F)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.09</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$23.02</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$12.37</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$15.92</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Production cost per tonne (A&#47;H)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$135.13</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$86.32</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$43.72</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$85.68</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable AgEq Oz (B&#47;G)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$8.49</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$16.50</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.42</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.21</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">AISC per payable AgEq Oz ((E+C)&#47;G)</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$12.32</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$21.76</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$12.39</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$16.12</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-top:3pt;text-align:center"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.096%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.060%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.060%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.060%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.060%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.064%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(expressed in thousands of U.S. Dollars, <br>except ounce and per ounce amounts)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Three Months Ended December 31, 2019</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Del Toro</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Mining cost </font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$9,803&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$4,410&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$2,653&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$964&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$17,830&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,664&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,486&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,394&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">705&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,249&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,714&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,629&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,661&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,169&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,173&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$23,182</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$13,524</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$9,708</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$2,838</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$49,252</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Add&#58; transportation and other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">317&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">81&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">448&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">162&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">203&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">138&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">951&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Add&#58; environmental duty and royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">202&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">127&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">34&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">370&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total cash cost before by-product credits (B)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$24,149</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$13,894</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$10,028</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$3,035</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$51,214</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Deduct by-product credits attributed to&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gold by-product credits</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(22,895)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(14,759)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(74)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(37,725)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Lead by-product credits</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(788)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(795)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Zinc by-product credits</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(50)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total by-product credits (C)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($22,895)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($14,759)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($74)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($785)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($38,570)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total cash cost (D &#61; B - C)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,254</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($865)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$9,954</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$2,250</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$12,644</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,930&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,413&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,230&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,907&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">186&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">603&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Sustaining capital expenditures</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,879&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,818&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,645&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">679&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,090&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">57&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">205&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">637&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,198&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">All-In Sustaining Costs (E)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$12,306</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$2,269</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$12,462</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$3,054</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$41,085</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Payable silver ounces produced (F)</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">1,657,891</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">618,702</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">983,680</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">78,614</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">3,338,887</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payable silver equivalent ounces produced (G)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">3,514,359</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">1,590,805</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">987,779</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">123,491</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">6,216,434</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Tonnes milled (H)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">182,265</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">196,640</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">221,049</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">26,528</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">626,482</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce, before by-product credits (B&#47;F)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$14.55</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$22.46</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$10.19</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$38.60</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$15.33</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce (D&#47;F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$0.74</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($1.40)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$10.12</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$28.62</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$3.73</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">AISC per payable silver ounce (E&#47;F)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$7.41</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$3.66</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$12.67</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$38.84</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$12.25</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Production cost per tonne (A&#47;H)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$127.19</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$68.77</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$43.92</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$106.99</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$78.62</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable AgEq Oz (B&#47;G)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$6.86</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$8.73</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$10.15</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$24.58</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$8.23</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">AISC per payable AgEq Oz ((E+C)&#47;G)</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$10.01</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$10.70</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$12.69</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$31.09</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$12.81</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.346%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.401%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(expressed in thousands of U.S. Dollars, <br>except ounce and per ounce amounts)</font></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Year Ended December 31, 2020</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mining cost</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$40,662&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15,952&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$9,597&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$66,211&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,318&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,187&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,335&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">57,840&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,232&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,088&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,813&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,133&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$91,212</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$50,227</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$34,746</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$176,185</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Add&#58; transportation and other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,224&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">397&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">425&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,288&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,604&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">434&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">749&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,800&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Add&#58; environmental duty and royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,278&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">395&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">337&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,010&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total cash cost before by-product credits (B)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$95,318</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$51,453</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$36,257</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$183,283</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deduct by-product credits attributed to&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gold by-product credits</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(82,252)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(41,630)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(382)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(124,264)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Lead by-product credits</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(74)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deduct gold by-product credits (C)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">($82,252)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">($41,630)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">($382)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">($124,338)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total cash cost (D &#61; B - C)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$13,066</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$9,823</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$35,875</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$58,945</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,663&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">206&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">377&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,245&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">22,977&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">565&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">295&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">477&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,362&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Sustaining capital expenditures</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,361&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,033&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,112&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">49,003&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">291&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,252&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,573&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,349&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">All-In Sustaining Costs (E)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$55,946</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$21,609</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$43,414</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$161,136</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payable silver ounces produced (F)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,396,467</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,691,068</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,491,929</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">11,579,464</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payable silver equivalent ounces produced (G)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">12,664,191</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,177,527</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,512,127</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">20,353,844</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Tonnes milled (H)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">713,064</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">640,276</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">860,613</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,213,954</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce, before by-product credits (B&#47;F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$14.90</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$30.43</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.38</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$15.83</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce (D&#47;F)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$2.04</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$5.81</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.27</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$5.09</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">AISC per payable silver ounce (E&#47;F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$8.75</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$12.78</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$12.43</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$13.92</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Production cost per tonne (A&#47;H)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$127.91</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$78.44</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$40.37</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$79.59</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash cost per payable AgEq Oz (B&#47;G)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$7.53</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$12.32</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.32</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$9.00</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">AISC per payable AgEq Oz ((E+C)&#47;G)</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$10.91</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$15.14</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$12.47</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$14.03</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)  Production costs in the year ended December 31, 2020 exclude standby costs related to COVID-19 Suspensions at San Dimas ($3.5 million), Santa Elena ($2.0 million) and La Encantada ($1.7 million), as well as the 13-day union work stoppage at San Dimas ($2.0 million).</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.959%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.021%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(expressed in thousands of U.S. Dollars, except ounce and per  ounce amounts)</font></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Twelve  Months Ended December 31, 2019</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">San Martin</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">La Parrilla</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Del Toro</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mining cost</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$39,230&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$17,922&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$8,374&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3,390&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$5,097&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3,621&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$77,633&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,568&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,473&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,139&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,210&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,671&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,734&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74,796&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,420&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,330&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,141&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,690&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,467&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,070&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,118&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$91,219</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$52,725</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$35,654</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$9,290</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$13,235</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$10,425</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$212,548</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Add&#58; transportation and other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,138&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">258&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">302&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">558&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">178&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,737&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,234&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">526&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">670&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">142&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,812&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">508&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,892&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Add&#58; environmental duty and royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">739&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">472&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,437&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total cash cost before by-product credits (B)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$94,330</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$53,981</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$36,728</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$9,569</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$15,650</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$11,138</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$221,614</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Deduct by-product credits attributed to&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Gold by-product credits</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85,468)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(55,211)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(197)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,105)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(143,029)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Lead by-product credits</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,997)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,991)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,988)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Zinc by-product credits</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,517)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,517)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total by-product credits (C)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($85,468)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($55,211)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($197)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($2,105)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($7,556)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($2,997)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($153,534)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total cash cost (D &#61; B - C)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8,862</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($1,230)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$36,531</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$7,464</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8,094</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8,141</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$68,080</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,552&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">313&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">489&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">244&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,036&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,164&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,325&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">744&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">207&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">591&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">237&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">282&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,409&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Sustaining capital expenditures</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,378&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,842&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,546&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,091&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,937&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,322&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51,203&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">318&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">701&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">112&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,397&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">All-In Sustaining Costs (E)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$45,757</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$7,346</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$42,682</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$10,393</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$13,656</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$10,880</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$166,614</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Payable silver ounces produced (F)</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,302,519</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,433,169</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,071,077</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">555,039</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">519,311</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">288,073</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,169,187</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Payable silver equivalent ounces produced (G)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,824,712</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,309,961</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,086,895</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">691,780</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">999,117</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">457,850</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25,370,314</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Tonnes milled (H)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">691,576</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">875,435</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">890,008</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101,362</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">167,535</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">106,083</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,831,999</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce, before by-product credits (B&#47;F)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$14.97</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$22.19</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$11.96</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$17.24</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$30.14</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$38.66</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$16.83</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash cost per payable silver ounce (D&#47;F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$1.41</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($0.51)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$11.89</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$13.45</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$15.59</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$28.26</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$5.16</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">AISC per payable silver ounce (E&#47;F)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$7.26</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3.02</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$13.90</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$18.73</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$26.29</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$37.77</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$12.64</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Production cost per tonne (A&#47;H)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$131.90</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$60.23</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$40.06</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$91.65</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$78.99</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$98.29</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$75.05</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash cost per payable AgEq Oz (B&#47;G)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6.82</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8.55</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$11.90</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$13.83</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$15.66</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$24.33</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$8.74</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">AISC per payable AgEq Oz ((E+C)&#47;G)</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$9.49</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$9.91</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$13.89</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$18.07</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$21.23</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$30.31</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$12.62</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_100"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Average Realized Silver Price per Ounce </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues are presented as the net sum of invoiced revenues related to delivered shipments of silver dor&#233; bars and concentrates, including associated metal by-products of gold, lead and zinc after having deducted refining and smelting charges, and after elimination of intercompany shipments of silver, silver being minted into coins, ingots and bullion products. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is an analysis of the gross revenues prior to refining and smelting charges, and shows deducted smelting and refining charges to arrive at the net reportable revenue for the period per IFRS. Gross revenues are divided into payable equivalent silver ounces sold to calculate the average realized price per ounce of silver equivalents sold. </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.702%"><tr><td style="width:1.0%"></td><td style="width:45.914%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.482%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.482%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.691%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.693%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended December 31,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Revenues as reported</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$117,075</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$96,476</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$363,876</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$363,944</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Add back&#58; smelting and refining charges</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">819&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">950&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,800&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,891&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Gross revenues</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">117,894</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">97,426</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">366,676</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">368,835</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Sandstorm gold revenues</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(580)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,078)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,636)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,200)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Wheaton gold revenues</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,056)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,969)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(23,541)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(26,994)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Gross revenues, excluding Sandstorm, Wheaton (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$110,258</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$89,379</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$340,499</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$337,641</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:3pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Payable equivalent silver ounces sold</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,319,935&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,125,349&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,614,393&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,509,434&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Payable equivalent silver ounces sold to Sandstorm</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(81,319)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(200,479)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(499,931)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(789,783)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Payable equivalent silver ounces sold to Wheaton</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(807,046)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(804,896)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,016,658)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,126,715)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payable equivalent silver ounces sold, excluding <br>&#160;&#160;&#160;&#160;Sandstorm and Wheaton (B)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,431,570</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,119,974</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">16,097,804</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">20,592,936</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Average realized price per ounce of silver sold (A&#47;B)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$24.88</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$17.46</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$21.15</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$16.40</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Average market price per ounce of silver per COMEX</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$24.44&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$17.33&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.72&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$16.20&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160;Average realized price per ounce of silver sold in each reporting period is affected by mark-to-market adjustments and final settlements on concentrate shipments in prior periods. Concentrates sold to third-party smelters are provisionally priced and the price is not settled until a predetermined future date, typically one month after delivery to the customer, based on the market price at that time. The mark-to-market adjustments do not apply to dor&#233; sales.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash Flow per Share</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash Flow per Share is determined based on operating cash flows before movements in working capital and income taxes, as illustrated in the consolidated statements of cash flow, divided by the weighted average shares outstanding during the period. </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.851%"><tr><td style="width:1.0%"></td><td style="width:46.590%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.163%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.163%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.676%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended December 31,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating Cash Flows before Working Capital and Taxes</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$48,224</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$32,875</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$107,343</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$108,915</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Weighted average number of shares on issue - basic</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">221,463,289&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">205,753,770&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">213,879,622&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">201,615,489&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash Flow per Share</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.22</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.16</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.50</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.54</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Adjusted Earnings per Share (&#8220;Adjusted EPS&#8221;)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses the financial measure &#8220;Adjusted EPS&#8221; to supplement information in its consolidated financial statements. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors and analysts use this information to evaluate the Company&#8217;s performance. The Company excludes certain non-cash and unusual items from net earnings to provide a measure which allows the Company and investors to evaluate the operating results of the underlying core operations. The presentation of Adjusted EPS is not meant to be a substitute for EPS presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS measure.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table provides a detailed reconciliation of net losses as reported in the Company&#8217;s consolidated financial statements to adjusted net earnings and Adjusted EPS&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.659%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended December 31,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Year Ended December 31,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net earnings (loss) as reported</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$34,545</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">($39,946)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$23,087</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">($40,474)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments for non-cash or unusual items&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;Deferred income tax recovery</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(11,187)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(19,817)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,324)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(14,973)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Share-based payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,227&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,907&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,255&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,325&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Loss (gain) from investment in derivatives and marketable<br>&#160;&#160;&#160;&#160;securities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,445&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(243)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,973)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,765)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Unrealized (gain) loss on foreign currency derivatives</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,880)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">982&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Recovery of mineral inventory</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(355)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(443)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,578)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;Impairment of non-current assets</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58,739&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58,739&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;Standby costs related to COVID-19 Suspension</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,162&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Loss on divestiture of exploration projects</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,685&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjusted net earnings</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$24,150</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$285</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$37,431</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$7,274</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Weighted average number of shares on issue - basic</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">221,463,289&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">205,753,770&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">213,879,622&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">201,615,489&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjusted EPS</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.11</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.00</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.18</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$0.04</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:3pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Working Capital and Available Liquidity</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Working capital is determined based on current assets and current liabilities as reported in the Company&#8217;s consolidated financial statements. The Company uses working capital as a measure of the Company&#8217;s short-term financial health and operating efficiency. Available liquidity includes the Company's working capital and undrawn revolving credit facility. </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.953%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.359%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2019</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current Assets</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$356,046&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$242,979&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Current Liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(101,626)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(71,853)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Working Capital</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$254,420</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$171,126</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Available Undrawn Revolving Credit Facility</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">65,000&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55,031&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Available Liquidity</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$319,420</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$226,157</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="ida3b1a4d18a84a298a36082865d5206e_106"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:87.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.359%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">MANAGEMENT&#8217;S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING</font></td></tr></table></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Disclosure Controls and Procedures</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s management, with the participation of its President and Chief Executive Officer (&#8220;CEO&#8221;) and Chief Financial Officer (&#8220;CFO&#8221;), has evaluated the effectiveness of the Company&#8217;s disclosure controls and procedures. Based upon the results of that evaluation, the Company&#8217;s CEO and CFO have concluded that, as of December&#160;31, 2020, the Company&#8217;s disclosure controls and procedures were effective to provide reasonable assurance that the information required to be disclosed by the Company in reports it files is recorded, processed, summarized and reported, within the appropriate time periods and is accumulated and communicated to management, including the CEO and CFO, as appropriate to allow timely decisions regarding required disclosure.</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Internal Control over Financial Reporting</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s management, with the participation of its CEO and CFO, is responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined in the rules of the United States Securities and Exchange Commission and the Canadian Securities Administrators. The Company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with IFRS as issued by the IASB. The Company&#8217;s internal control over financial reporting includes policies and procedures that&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.27pt">maintain records that accurately and fairly reflect, in reasonable detail, the transactions and dispositions of assets of the Company&#59;</font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; &#160;&#160;&#160;&#160;provide reasonable assurance that transactions are recorded as necessary for preparation of financial statements in accordance with IFRS as issued by IASB&#59;</font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.27pt">provide reasonable assurance that the Company&#8217;s receipts and expenditures are made only in accordance with authorizations of management and the Company&#8217;s Directors&#59; and</font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; &#160;&#160;&#160;&#160;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company&#8217;s assets that could have a material effect on the Company&#8217;s consolidated financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s internal control over financial reporting may not prevent or detect all misstatements because of inherent limitations. Additionally, projections of any evaluation of effectiveness for future periods are subject to the risk that controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with the Company&#8217;s policies and procedures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's management evaluated the effectiveness of our internal controls over financial reporting based upon the criteria set forth in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on management's evaluation, our CEO and CFO concluded that our internal controls over financial reporting was effective as of December 31, 2020.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's independent registered public accounting firm, Deloitte LLP, have audited these Consolidated Annual Financial Statements and have issued an attestation report dated February 18, 2021 on the Company's internal control over financial reporting based on the criteria set forth in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of Treadway Commission.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December 31, 2020, the Company implemented social distancing protocols to have majority of its corporate office and site administrative staff to work remotely from home. This change has required certain processes and controls that were previously done or documented manually to be completed and retained in electronic form. Despite the changes required by the current environment, there have been no significant changes in our internal controls during the year ended December 31, 2020 that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Limitations of Controls and Procedures</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s management, including the President and Chief Executive Officer and Chief Financial Officer, believes that any disclosure controls and procedures or internal control over financial reporting, no matter how well conceived and operated, may not prevent or detect all misstatements because of inherent limitations. Further, the design of a control </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, they cannot provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been prevented or detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by unauthorized override of the control. The design of any control system also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Accordingly, because of the inherent limitations in a cost effective control system, misstatements due to error or fraud may occur and not be detected.</font></div><div style="text-align:justify"><font><br></font></div><div id="ida3b1a4d18a84a298a36082865d5206e_109"></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.703%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:68.097%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CAUTIONARY STATEMENTS</font></td></tr></table></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cautionary Note regarding Forward-Looking Statements</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain information contained herein this MD&#38;A constitutes forward-looking statements under applicable securities laws (collectively, &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">forward-looking statements</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). These statements relate to future events or the Company&#8217;s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to&#58; commercial mining operations&#59; anticipated mineral recoveries&#59; projected quantities of future mineral production&#59; statements with respect to the Company&#8217;s business strategy&#59; future planning processes&#59; anticipated development, expansion, exploration activities and production rates&#59; the estimated cost and timing of plant improvements at the Company&#8217;s operating mines and development of the Company&#8217;s development projects&#59; the timing of completion of exploration programs and drilling programs&#59; the repayment of the Debentures&#59; statements with respect to the Company&#8217;s future financial position including operating efficiencies, cash flow, capital budgets, costs and expenditures&#59; the preparation of technical reports and completion of preliminary economic assessments&#59; the repurchase of the Company&#8217;s shares&#59; viability of the Company&#8217;s projects&#59; potential metal recovery rates&#59; the conversion of the Company&#8217;s securities. All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as &#8220;seek&#8221;, &#8220;anticipate&#8221;, &#8220;plan&#8221;, &#8220;continue&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;, &#8220;may&#8221;, &#8220;will&#8221;, &#8220;project&#8221;, &#8220;predict&#8221;, &#8220;forecast&#8221;, &#8220;potential&#8221;, &#8220;targeting&#8221;, &#8220;intend&#8221;, &#8220;could&#8221;, &#8220;might&#8221;, &#8220;should&#8221;, &#8220;believe&#8221; and similar expressions) are not statements of historical fact and may be &#8220;forward-looking statements&#8221;.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Forward-looking statements are based on the opinions and estimates of management at the dates the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, without limitation&#58; the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, the availability of and costs of financing needed in the future, and other factors described in the Company&#8217;s Annual Information Form under the heading &#8220;Risk Factors&#8221;.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes that the expectations reflected in any such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein this MD&#38;A should not be unduly relied upon. These statements speak only as of the date of this MD&#38;A. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. Actual results may differ materially from those expressed or implied by such forward-looking statements.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cautionary Note regarding Reserves and Resources</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">National Instrument 43-101 (&#8220;NI 43-101&#8221;), issued by the Canadian Securities Administrators, lays out the standards of disclosure for mineral projects. This includes a requirement that a certified Qualified Person (&#8220;QP&#8221;) (as defined under the NI 43-101) supervises the preparation of the mineral reserves and mineral resources. Ramon Mendoza, P. Eng., Vice President of Technical Services is a certified QP for the Company and has reviewed this MD&#38;A for QP technical disclosures. All NI&#160;43-101 technical reports can be found on the Company&#8217;s website at </font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or on SEDAR at </font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cautionary Note to United States Investors Concerning Estimates of Mineral Reserves and Resources</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Management&#8217;s Discussion and Analysis has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ in certain material respects from the disclosure requirements of United States securities laws. The terms &#8220;mineral reserve&#8221;, &#8220;proven mineral reserve&#8221; and &#8220;probable mineral reserve&#8221; are Canadian mining terms as defined in accordance with Canadian NI 43-101 Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining, Metallurgy and Petroleum (the &#8220;CIM&#8221;) - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These definitions differ from the definitions in the disclosure requirements promulgated by the Securities and Exchange Commission (the &#8220;Commission&#8221;) and contained in Industry Guide 7 (&#8220;Industry Guide 7&#8221;). Under Industry Guide 7 standards, a &#8220;final&#8221; or &#8220;bankable&#8221; feasibility study is required to report mineral reserves, the three-year historical average price is used in any mineral reserve or cash flow analysis to designate mineral reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the terms &#8220;mineral resource&#8221;, &#8220;measured mineral resource&#8221;, &#8220;indicated mineral resource&#8221; and &#8220;inferred mineral resource&#8221; are defined in and required to be disclosed by NI 43-101. However, these terms are not defined terms under Industry Guide 7 and are not permitted to be used in reports and registration statements of United States companies filed with the Commission. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves. &#8220;Inferred mineral resources&#8221; have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of &#8220;contained ounces&#8221; in a mineral resource is permitted disclosure under Canadian regulations. In contrast, the Commission only permits U.S. companies to report mineralization that does not constitute &#8220;mineral reserves&#8221; by Commission standards as in place tonnage and grade without reference to unit measures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accordingly, information contained in this Management&#8217;s Discussion and Analysis may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations of the Commission thereunder.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Additional Information</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional information on the Company, including the Company&#8217;s Annual Information Form and the Company&#8217;s audited consolidated financial statements for the year ended&#160;December 31, 2020, is available on SEDAR at </font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and on the Company&#8217;s website at </font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2020 Annual Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>ag-2020q4ceoxex993.htm
<DESCRIPTION>EX-99.3
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="i6fb8e9d605a548eea7ecccfbd50d5791_49"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit  99.3</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Form 52-109F1</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Certification of Annual Filings</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Full Certificate</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">I, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Keith Neumeyer, Chief Executive Officer of First Majestic Silver Corp.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, certify the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Review&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> I have reviewed the AIF, if any, annual financial statements and annual MD&#38;A, including, for greater certainty, all documents and information that are incorporated by reference in the AIF (together, the &#8220;annual filings&#8221;) of </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">First Majestic Silver Corp.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (the &#8220;issuer&#8221;) for the financial year ended </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December&#160;31, 2020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">No misrepresentations&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the annual filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, for the period covered by the annual filings.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Fair presentation&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the annual financial statements together with the other financial information included in the annual filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the annual filings.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Responsibility&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&#38;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 Certification of Disclosure in Issuers&#8217; Annual and Interim filings, for the issuer.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the financial year end</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:25.15pt">designed DC&#38;P, or caused it to be designed under our supervision, to provide reasonable assurance that</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-44.35pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">material information relating to the issuer is made known to us by others, particularly during the period in which the annual filings are being prepared&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-46.64pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:24.69pt">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#8217;s GAAP.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:23.36pt">Control framework&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s ICFR is </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">COSO&#8217;s 2013 Internal Control &#8211; Integrated Framework</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:23.36pt">ICFR &#8211; material weakness relating to design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer has disclosed in its annual MD&#38;A for each material weakness relating to design existing at the financial year end</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:7.15pt">a description of the material weakness&#59;</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.69pt">the impact of the material weakness on the issuer&#8217;s financial reporting and its ICFR&#59; and</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(c)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:7.72pt">the issuer&#8217;s current plans, if any, or any actions already undertaken, for remediating the material weakness.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Limitation on scope of design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> he issuer has disclosed in its annual MD&#38;A </font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)   </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the fact that the issuer&#8217;s other certifying officer(s) and I have limited the scope of our design of DC&#38;P and ICFR to exclude controls, policies and procedures of </font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (i)   N&#47;A</font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">                 (ii)  N&#47;A</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">                (iii)  a business that the issuer acquired not more than 365 days before the issuer&#8217;s financial year end&#59; and </font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">summary financial information about the proportionately consolidated entity, special purpose entity or business that the issuer acquired that has been proportionately consolidated or consolidated in the issuer&#8217;s financial statements. </font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Evaluation&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer's other certifying officer(s) and I have</font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">evaluated, or caused to be evaluated under our supervision, the effectiveness of the issuer's DC&#38;P at the financial year end and the issuer has disclosed in its annual MD&#38;A our conclusions about the effectiveness of DC&#38;P at the financial year end based on that evaluation&#59; and</font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">evaluated, or caused to be evaluated under our supervision, the effectiveness of the issuer's ICFR at the financial year end and the issuer has disclosed in its annual MD&#38;A</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%"> (i)  our conclusions about the effectiveness of ICFR at the financial year end based on that evaluation&#59; and</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%">(ii)  for each material weakness relating to operation existing at the financial year end</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%">             (A)  a description of the material weakness&#59;</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%">             (B)  the impact of the material weakness on the issuer's financial reporting and its ICFR&#59; and</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">             (C)  the issuer's current plans, if any, or any actions already undertaken, for remediating the<br>                    material weakness.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:30.94pt">Reporting changes in ICFR&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer has disclosed in its annual MD&#38;A any change in the issuer&#8217;s ICFR that occurred during the period beginning on </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">October 1, 2020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and ended on </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December&#160;31, 2020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s ICFR.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:30.94pt">Reporting to the issuer's auditors and board of directors or audit committee&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of ICFR, to the issuer's auditors, and the board of directors or the audit committee of the board of directors any fraud that involves management or other employees who have a significant role in the issuer's ICFR.</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:4.317%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.085%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:62.298%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; </font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">February 18, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#8220;Keith Neumeyer&#8221;</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Keith Neumeyer</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Executive Officer</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>ag-2020q4cfoxex994.htm
<DESCRIPTION>EX-99.4
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="i8a2ef54804d24dbb98cfc2d55d3d69ae_49"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exhibit  99.4</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Form 52-109F1</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Certification of Annual Filings</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Full Certificate</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">I, Raymond Polman, Chief Financial Officer of First Majestic Silver Corp.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, certify the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Review&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> I have reviewed the AIF, if any, annual financial statements and annual MD&#38;A, including, for greater certainty, all documents and information that are incorporated by reference in the AIF (together, the &#8220;annual filings&#8221;) of </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">First Majestic Silver Corp.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (the &#8220;issuer&#8221;) for the financial year ended </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December&#160;31, 2020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">No misrepresentations&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the annual filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, for the period covered by the annual filings.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Fair presentation&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the annual financial statements together with the other financial information included in the annual filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the annual filings.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Responsibility&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&#38;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 Certification of Disclosure in Issuers&#8217; Annual and Interim filings, for the issuer.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the financial year end</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:25.15pt">designed DC&#38;P, or caused it to be designed under our supervision, to provide reasonable assurance that</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-44.35pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">material information relating to the issuer is made known to us by others, particularly during the period in which the annual filings are being prepared&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-46.64pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:24.69pt">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#8217;s GAAP.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:23.36pt">Control framework&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s ICFR is </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">COSO&#8217;s 2013 Internal Control &#8211; Integrated Framework</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:23.36pt">ICFR &#8211; material weakness relating to design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer has disclosed in its annual MD&#38;A for each material weakness relating to design existing at the financial year end</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:7.15pt">a description of the material weakness&#59;</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.69pt">the impact of the material weakness on the issuer&#8217;s financial reporting and its ICFR&#59; and</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(c)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:7.72pt">the issuer&#8217;s current plans, if any, or any actions already undertaken, for remediating the material weakness.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Limitation on scope of design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> he issuer has disclosed in its annual MD&#38;A </font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)   </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the fact that the issuer&#8217;s other certifying officer(s) and I have limited the scope of our design of DC&#38;P and ICFR to exclude controls, policies and procedures of </font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (i)   N&#47;A</font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">                 (ii)  N&#47;A</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">                (iii)  a business that the issuer acquired not more than 365 days before the issuer&#8217;s financial year end&#59; and </font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">summary financial information about the proportionately consolidated entity, special purpose entity or business that the issuer acquired that has been proportionately consolidated or consolidated in the issuer&#8217;s financial statements. </font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Evaluation&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer's other certifying officer(s) and I have</font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">evaluated, or caused to be evaluated under our supervision, the effectiveness of the issuer's DC&#38;P at the financial year end and the issuer has disclosed in its annual MD&#38;A our conclusions about the effectiveness of DC&#38;P at the financial year end based on that evaluation&#59; and</font></div><div><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">evaluated, or caused to be evaluated under our supervision, the effectiveness of the issuer's ICFR at the financial year end and the issuer has disclosed in its annual MD&#38;A</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%"> (i)  our conclusions about the effectiveness of ICFR at the financial year end based on that evaluation&#59; and</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%">(ii)  for each material weakness relating to operation existing at the financial year end</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%">             (A)  a description of the material weakness&#59;</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%">             (B)  the impact of the material weakness on the issuer's financial reporting and its ICFR&#59; and</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">             (C)  the issuer's current plans, if any, or any actions already undertaken, for remediating the</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">                    material weakness.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:30.94pt">Reporting changes in ICFR&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer has disclosed in its annual MD&#38;A any change in the issuer&#8217;s ICFR that occurred during the period beginning on </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">October 1, 2020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and ended on </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December&#160;31, 2020 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s ICFR.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:30.94pt">Reporting to the issuer's auditors and board of directors or audit committee&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of ICFR, to the issuer's auditors, and the board of directors or the audit committee of the board of directors any fraud that involves management or other employees who have a significant role in the issuer's ICFR.</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:4.317%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.085%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:62.298%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; </font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">February 18, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#8220;Raymond Polman&#8221;</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Raymond Polman</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Financial Officer</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>ag-2020q4nrxex995.htm
<DESCRIPTION>EX-99.5
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="i4d6b309820cf4e918ad740a8b7696630_1"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><img alt="fmlogoa411.jpg" src="fmlogoa411.jpg" style="height:194px;margin-bottom:5pt;vertical-align:text-bottom;width:285px"></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%">NEWS RELEASE</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">New York - AG</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 18, 2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Toronto &#8211; FR</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Frankfurt &#8211; FMV</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:700;line-height:115%;text-decoration:underline">First Majestic Announces Financial Results for Q4 2020, FY2020 and </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:700;line-height:115%;text-decoration:underline">Appointment of New Director</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%;text-decoration:underline">   </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">FIRST MAJESTIC SILVER CORP.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%"> (AG&#58; NYSE&#59; FR&#58; TSX) (the &#34;Company&#34; or &#8220;First Majestic&#8221;) is pleased to announce the consolidated financial results for the Company&#8217;s fourth quarter and year ended December 31, 2020. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">, on SEDAR at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;text-decoration:underline">www.sedar.com</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">and EDGAR at</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%"> </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;text-decoration:underline">www.sec.gov</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">. All amounts are in U.S. dollars unless stated otherwise.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">2020 HIGHLIGHTS</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Generated robust revenues of $363.9 million primarily due to strong silver production and higher metal prices in the second half of 2020 which helped to offset reduced revenues in Q2 2020 due to Mexico&#8217;s national COVID-19 shutdown. </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Mine operating earnings of $105.1 million primarily due to higher silver and gold prices, as well as shifting a greater portion of production to its larger and lower cost operations. </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Operating cash flows before working capital and taxes of $107.3 million or $0.50 per share. </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Net earnings of $23.1 million, or basic earnings per share (&#8220;EPS&#8221;) of $0.11, representing a 157% increase compared to 2019.</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Adjusted net earnings of $37.4 million, or $0.18 per share, after excluding non-cash or unusual items.</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Cash costs of $5.09 per payable silver ounce representing a 1% decrease compared to 2019 and  slightly above the revised guidance range of $3.95 to $4.59 per ounce primarily due to lower than expected gold by-product credits at Santa Elena and San Dimas in the second half of 2020. </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">All-in sustaining costs (&#8220;AISC&#8221;) of $13.92 per payable silver ounce representing a 10% increase compared to 2019 and slightly above the revised guidance range of $12.29 to $13.45 per ounce. </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Realized an average silver price of $21.15 per payable silver ounce, representing a 29% increase compared to 2019.  </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Ended 2020 with record cash and cash equivalents of $238.6 million, up from $169.0 million at the end of 2019.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">Q4 2020 HIGHLIGHTS</font></div><div><font><br></font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Revenues totaled $117.1 million, representing a 21% increase compared to Q4 2019.</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Mine operating earnings of $43.7 million, representing an 82% increase compared to $23.9 million in Q4 2019.  </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Operating cash flows before working capital and taxes of $48.2 million, or $0.22 per share (non-GAAP). </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Net earnings of $34.5 million, or EPS of $0.16.  </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Adjusted net earnings $24.2 million, or $0.11 per share, after excluding non-cash or unusual items.</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Cash costs of $6.53 per payable silver ounce, representing a 75% increase compared to Q4 2019.</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">AISC of $15.92 per payable silver ounce, representing a 30% increase compared to Q4 2019.</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:12.53pt">Realized an average silver price of $24.88 per payable silver ounce, representing a 43% increase compared to Q4 2019.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">CEO COMMENTS</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8220;First Majestic finished 2020 with strong silver production and solid financial results despite the early challenges related to the COVID-19 global pandemic,&#8221; stated Keith Neumeyer, President and CEO of First Majestic. &#8220;We generated 87% of our $105.1 million in operating earnings in the second half of 2020 primarily due to higher silver production and an improved metal price environment. This significant increase in profitability helped to lift our cash balance to a record $238.6 million at the end of the year. We also announced our inaugural dividend policy at the end of 2020 which was a major milestone and something I am particularly proud of as this has been a long-term objective of the Company. Looking ahead, we continue to expect higher prices as silver supplies tighten due to increases in investor demand and the longer-term global transition to greener energy and electric vehicle solutions.&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">2020 ANNUAL AND FOURTH QUARTER HIGHLIGHTS </font></div><div style="text-align:justify"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:39.279%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.229%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.229%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.646%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.249%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.215%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Key Performance Metrics</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020-Q4</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019-Q4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change<br>Q4 vs Q4</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2019</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change<br>'20 vs '19</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operational</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">625,332&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">626,482&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,213,954&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,831,999&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(22&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,452,959&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,348,424&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,598,380&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,241,118&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,477,492&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,233,412&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,379,010&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,554,288&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(20&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Costs per Ounce </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$6.53&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$3.73&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b3b3b3;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="border-top:1pt solid #b3b3b3;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$5.09&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$5.16&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.92&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.25&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$13.92&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.64&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Production Cost per Tonne </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$85.68&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$78.62&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$79.59&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$75.05&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Average Realized Silver Price per Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$24.88&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$17.46&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.15&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$16.40&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial (in $millions)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$117.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$96.5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$363.9&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$363.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mine Operating Earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$43.7&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$23.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">82&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$105.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$66.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net (Loss) Earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$34.5&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($39.9)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$23.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($40.5)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">157&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating Cash Flows before Movements in Working Capital and Taxes</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$48.2&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$32.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$107.3&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$108.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and Cash Equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$238.6&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$169.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$238.6&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$169.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Working Capital </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$254.4&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$171.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$254.4&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$171.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Earnings (Loss) per Share (&#34;EPS&#34;) - Basic</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.16&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.19)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.11&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.20)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">154&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjusted EPS</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.11&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.00&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.18&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.04&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Flow per Share</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.22&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.16&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.50&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.54&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:115%">&#34;NM&#34; - Not meaningful</font></div><div style="margin-top:6pt;padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)&#160; The Company reports non-GAAP measures which include cash costs per ounce produced, all-in sustaining cost per ounce, total production cost per tonne, average realized silver price per ounce, working capital, adjusted EPS and cash flow per share.&#160; These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and may differ from methods used by other companies with similar descriptions.&#160; </font></div><div style="margin-top:6pt;padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font><br></font></div><div style="margin-bottom:6pt;padding-right:31.5pt;text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-right:31.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">2020 FINANCIAL RESULTS</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Full year revenues totaled $363.9 million as higher silver and gold prices were offset by reduced production rates due to Mexico&#8217;s national COVID-19 suspensions and reduced worker availability. The average realized silver price increased 29% to $21.15 per ounce during the year compared to $16.40 in 2019. However, strong silver production from La Encantada and San Dimas in the second half of 2020 helped to also offset some of the production losses resulting from the COVID-19 shutdowns in the second quarter of 2020. At the end of 2020, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">approximately 9% of the Company's workforce at its three operating mines remained vulnerable under Mexico&#8217;s national decree, an improvement from 18% at the end of the second quarter.</font><font style="color:#ff0000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Annual mine operating earnings totaled $105.1 million compared to $66.2 million in 2019. The increase in mine operating earnings was primarily driven by higher silver and gold prices, as well as shifting a greater proportion of the Company's production to its larger and lower cost operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Cash flows before movements in working capital and taxes during the year was $107.3 million ($0.50 per share) compared to $108.9 million ($0.54 per share) in 2019. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Adjusted EPS (non-GAAP), normalized for non-cash or unusual items such as impairment of non-current assets, share-based payments and deferred income taxes for the year ended December 31, 2020 was $0.18 compared to $0.04 in 2019. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">The </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Company ended 2020 with $238.6 million in cash and cash equivalents compared to $169.0 million at the end of 2019.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">In addition, the Company ended the year with working capital of $254.4 million compared to $171.1&#160;million at the end of 2019. The increase in cash and cash equivalents was primarily attributed to $79.7&#160;million generated from its operating activities, $126.1 million raised through prospectus offerings and its &#8220;at-the-market distributions&#8221; equity financing program, proceeds of $14.0 million from exercise of stock options, net of $127.1 million spent on investing activities primarily relating to mining interests and property, plant, and equipment.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">FULL YEAR 2020 OPERATIONAL HIGHLIGHTS</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.531%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.743%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Annual Production Summary</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">713,064&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">640,276&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">860,613&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,213,954</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,399,667&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,292,761&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,505,953&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,198,380</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">71,598&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,242&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">241&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100,081</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,670,526&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,181,708&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,526,776&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20,379,010</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash Costs per Ounce*</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2.04&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$5.81&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10.27&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$5.09</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Ounce*</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$8.75&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$12.78&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$12.43&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$13.92</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total Production Cost per Tonne</font></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$127.91&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$78.44&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$40.37&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$79.59</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">*Cash Cost per Ounce and All-in Sustaining Cost per Ounce are calculated on a per payable silver ounce basis.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Total silver production reached 11.6 million ounces achieving the top-end of the Company&#8217;s guidance of 11.0 to 11.7 million silver.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Strong silver production from La Encantada and San Dimas in the second half of 2020 helped to offset some of the production losses during the Mexican national COVID-19 shutdowns in the second quarter of 2020. Total gold production reached 100,081 ounces slightly below the Company&#8217;s guidance range of producing between 106,000 to 112,000 ounces.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">The slight miss was primarily due to lower production rates at Santa Elena and lower gold grades at San Dimas in the second half of 2020. The La Encantada mine achieved its highest annual silver production since 2014 with 3.5 million ounces of silver produced during the year, representing a 14% increase from the prior year, and beating the Company&#8217;s revised production guidance of 3.1 to 3.3 million silver ounces.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Cash cost per ounce in the year was $5.09, a slight decrease compared to the previous year. The decrease in cash cost was primarily due to cost savings from the suspension of higher cost mines in 2019 and a 12% weaker </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Mexican Peso, partially offset by lower by-product credits and decrease in production attributed to the COVID-19 suspensions, as well as higher mining contractor costs and COVID-19 related costs.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">AISC per ounce in 2020 was $13.92, compared to $12.64 in the previous year. The increase in AISC per ounce was primarily attributed to an increase in fixed overhead costs, such as general and administration expenses and annual workers participation benefits, being divided by 12% less silver ounces produced due to the required COVID-19 suspensions</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">The Company&#8217;s total capital expenditures in 2020 was $125.0 million consisting of $31.7 million for underground development, $43.6 million in exploration and $28.5 million in property, plant and equipment, and $21.2 million in innovation projects. Total investments in 2020, on a mine-by-mine basis, primarily consisted of $43.8 million at San Dimas, $33.7 million at Santa Elena (including $14.6 million for the Ermita&#241;o project), $10.7 million at La Encantada, $2.8 million at La Parrilla, $1.2 million at Del Toro and $0.3 million at San Martin. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">Q4 2020 FINANCIAL RESULTS</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Revenues generated in the fourth quarter of 2020 totaled $117.1 million, representing a 21% increase compared to the fourth quarter of 2019, primarily due to a 43% increase in average realized silver price compared to the same quarter of the prior year, plus a 13% decrease in silver equivalent ounces sold compared to the same quarter of 2019. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Mine operating earnings were $43.7 million, representing an 82% increase compared the fourth quarter of 2019. The increase in mine operating earnings in the quarter was primarily attributed to higher metals prices.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">The Company recorded net earnings of $34.5 million (EPS of $0.16) compared to net loss of $39.9 million (EPS of ($0.19)) in the fourth quarter of 2019. The increase in net earnings was primarily attributed to a $52.4 million after-tax impairment loss taken in the fourth quarter of the prior year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Cash flows before movements in working capital and income taxes were $48.2 million ($0.22 per share), compared to $32.9 million ($0.16 per share) in the fourth quarter of 2019.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Adjusted net earnings for the fourth quarter was $24.2 million (Adjusted EPS of $0.11) compared to adjusted net earnings of $0.3 million (Adjusted EPS of $0.00) in the fourth quarter of 2019, after excluding non-cash or non-recurring items. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Q4 2020 OPERATIONAL HIGHLIGHTS</font></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.401%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fourth Quarter Production Summary</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">208,648&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">168,276&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">248,408&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">625,332</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,941,286&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">418,153&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,093,521&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,452,959</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,980&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,294&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">26,343</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,477,061&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">901,630&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,098,800&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5,477,492</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash Costs per Ounce*</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3.23&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$11.69&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10.39&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6.53</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Ounce*</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10.09&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$23.02&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$12.37&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$15.92</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total Production Cost per Tonne</font></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$135.13&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$86.32&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$43.72&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$85.68</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">*Cash Cost per Ounce and All-in Sustaining Cost per Ounce are calculated on a per payable silver ounce basis.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Total production in the fourth quarter of 2020 reached 5.5 million silver equivalent ounces, consisting of 3.5&#160;million ounces of silver and 26,343 ounces of gold. Quarterly silver and gold production increased 9% and 2%, respectively, compared to the prior quarter.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">   </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Cash cost per ounce for the quarter was $6.53 per payable silver ounce, compared to $2.49 per ounce in the previous quarter. The increase in cash cost was primarily due to higher gold by-product credits realized in the third quarter attributed to inventory that rolled over from the second quarter, which contributed an additional </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">$7.4&#160;million or $2.34 per ounce in by-product credits in the previous quarter, a 6% stronger Mexican Peso against the U.S. Dollar compared to the previous quarter, as well as higher COVID-19 related expenses.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">AISC per ounce in the fourth quarter was $15.92 per ounce compared to $9.94 per ounce in the previous quarter. The increase in AISC per ounce was primarily attributed to increase in cash cost per ounce, higher sustaining development and capital expenditure activities as the mines ramp up operations after the COVID-19 suspensions.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Capital expenditures in the fourth quarter were $43.7 million, an increase of 24% compared to the prior quarter, primarily consisting of $14.1 million at San Dimas, $13.8 million at Santa Elena (including $6.6 million for the Ermita&#241;o project), $3.6 million at La Encantada, $0.9 million at La Parrilla, $0.4 million at Del Toro and $11.0 million for innovation projects. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">ELECTION OF DIRECTOR</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">The Board of Directors have appointed Mr. Thomas Fudge as a Director of the Company effective February 17, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Mr. Fudge brings over 42 years of professional mining experience having previously worked with companies including Tahoe Resources, Alexco Resources, Hecla Mining, and Sunshine Precious Metals.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Mr. Fudge holds a Bachelor of Science degree in Mining Engineering from Michigan Technological University and has overseen numerous major mining construction projects in the United States, Mexico, Venezuela, Yukon Territory, Guatemala, and Peru.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8220;On behalf of the Board of Directors, I am pleased to welcome Thomas to the First Majestic team,&#8221; said Keith Neumeyer, President &#38; CEO. &#8220;Thomas&#8217;s wealth of mining and construction experience will make him a valuable contributor to the Board as we work towards our goal of becoming a 30 million ounce producer.&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">INAUGURAL DIVIDEND POLICY</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">As previously announced on December 7, 2020, the Board of Directors had adopted a dividend policy under which the Company intends to pay quarterly dividends of 1% of net revenues commencing after the completion of the first quarter of 2021. The initial quarterly payment for the first quarter of 2021 is expected to be paid in May. In accordance with the rules of the Toronto Stock Exchange the Company will issue a press release at the time each quarterly dividend is declared. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">   </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:115%">ABOUT THE COMPANY</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">First Majestic is a publicly traded mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver&#47;Gold Mine, the Santa Elena Silver&#47;Gold Mine and the La Encantada Silver Mine.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Production from these mines are projected to be between 12.5 to 13.9 million silver ounces or 20.6 to 22.9 million silver equivalent ounces in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:140%">FOR FURTHER INFORMATION contact info&#64;firstmajestic.com, visit our website at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:140%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:140%"> or call our toll free number 1.866.529.2807.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:140%">FIRST MAJESTIC SILVER CORP.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:140%">&#8220;signed&#8221;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:140%">Keith Neumeyer, President &#38; CEO</font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cautionary Note Regarding Forward Looking Statements</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">This press release contains &#8220;forward&#8208;looking information&#8221; and &#34;forward-looking statements&#8221; under applicable Canadian and U.S. securities laws (collectively, &#8220;forward&#8208;looking statements&#8221;). These statements relate to future events or the Company's future performance, business prospects or opportunities that are </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to&#58; the Company&#8217;s business strategy&#59; future planning processes&#59; commercial mining operations&#59; cash flow&#59; budgets&#59; capital expenditures&#59; the timing and amount of estimated future production&#59; recovery rates&#59; mine plans and mine life&#59; the future price of silver and other metals&#59; costs&#59; costs and timing of the development of new deposits&#59; capital projects and exploration activities and the possible results thereof&#59; completion of technical reports and the timing of release. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward&#8208;looking statements. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward&#8208;looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as &#8220;seek&#8221;, &#8220;anticipate&#8221;, &#8220;plan&#8221;, &#8220;continue&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;, &#8220;may&#8221;, &#8220;will&#8221;, &#8220;project&#8221;, &#8220;predict&#8221;, &#8220;forecast&#8221;, &#8220;potential&#8221;, &#8220;target&#8221;, &#8220;intend&#8221;, &#8220;could&#8221;, &#8220;might&#8221;, &#8220;should&#8221;, &#8220;believe&#8221; and similar expressions) are not statements of historical fact and may be &#8220;forward&#8208;looking statements&#8221;.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to&#58; the duration and effects of the coronavirus and COVID-19, and any other pandemics or public health crises on our operations and workforce, and the effects on global economies and society, actual results of exploration activities&#59; conclusions of economic evaluations&#59; changes in project parameters as plans continue to be refined&#59; commodity prices&#59; variations in ore reserves, grade or recovery rates&#59; actual performance of plant, equipment or processes relative to specifications and expectations&#59; accidents&#59; fluctuations in costs&#59; labour relations&#59; availability and performance of contractors&#59; relations with local communities&#59; changes in national or local governments&#59; changes in applicable legislation or application thereof&#59; delays in obtaining approvals or financing or in the completion of development or construction activities&#59; exchange rate fluctuations&#59; requirements for additional capital&#59; government regulation&#59; environmental risks&#59; reclamation expenses&#59; outcomes of pending litigation including appeals of judgments&#59; resolutions of claims and arbitration proceedings&#59; negotiations and regulatory proceedings&#59; limitations on insurance coverage as well as those factors discussed in the section entitled &#34;Description of the Business - Risk Factors&#34; in the Company's most recent Annual Information Form, available on www.sedar.com, and Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C.  Although First Majestic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:115%">The Company believes that the expectations reflected in these forward&#8208;looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward&#8208;looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6pt;font-weight:400;line-height:115%"> </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>chart-6fb11e5593e440758801a.jpg
<TEXT>
begin 644 chart-6fb11e5593e440758801a.jpg
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MK7B2;5?"OBC^U8O(BNGCC@-P$%Y#+$CI%"7@F5=KH2DF"S, 4?\ @@I^V?\
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M25B6D,;>>@+$XC,:=$%>??L=?\$--*_;[_X(<ZK_ ,%!OV@OVLO'E[X@\(>
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MPLTG6?'5I;Q$_O8K/6](M[LM[1V5W=2_6$5^_/\ P3\_X*N>"_'W_!#'1O\
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M^F0: -6BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M** "BBB@ HHHH **** "BBB@ HHKB/$_QD_X1S7KG1/^$<\[[.X7S?MFW=D
M]-AQU]:Z,/A:^+FXTE=K7HOS,ZE6%)7DSMZ*\Y_X7_\ ]2E_Y/\ _P!KH_X7
M_P#]2E_Y/_\ VNNS^Q<S_P"??XQ_S,OKF'_F_!GHU5KK1](O;Z#4[W2K::YM
M23:W$L"L\)(P=K$97(]*X+_A?_\ U*7_ )/_ /VNC_A?_P#U*7_D_P#_ &NC
M^Q<S_P"??XQ_S#ZYA_YOP9Z(883,+@Q*9%4JKE>0"02,^AP/R%.KSG_A?_\
MU*7_ )/_ /VNC_A?_P#U*7_D_P#_ &NC^Q<S_P"??XQ_S#ZYA_YOP9Z-17G/
M_"__ /J4O_)__P"UT?\ "_\ _J4O_)__ .UT?V+F?_/O\8_YA]<P_P#-^#/1
MJ*XCPQ\9/^$CUZVT3_A'/)^T.5\W[9NVX!/38,]/6NWKCQ.%KX2:C55F]>C_
M "-:=6%57BPHHHKG- HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M^T/X5^+]A^U7<>$Y?$_P\^.>L>#T;P583V]@+:VM+"9503NTDF'N9!YC8+
ME5Z4 ?3U%>3?M*>!?VP?%=WIVH_LS_M1^"/AW86=K,=;C\7?"N7Q$;IL@K(D
MB:M8B!54-D$/G.<KC!\Z_P""27[0?[1_[5'[*ES\>/VB/$WA[7(-<\;:NOP\
MU[P[X7ET9-6\-6\PMK.^DM)+JY,3W#PSW"CS6'DS0]?O$ ^GJ*** "BBB@ H
MHHH **** "BBB@ HHHH ^"_^#B+]I']GWX9?\$Y?'7P>^(OQL\*Z%XL\3V^D
MS^'/#>K:[!;WVIQ0ZW8O,\$#L'E5%5BQ4$ *2>E>G_MM_MU?L6M_P3L\:_%M
M?VK_ (>'PMXX\$>(=)\&^(AXOL_L6N7XLKJ(VMI-YFR>421NFQ"6W(1C(KZE
MHH ^,_\ @G?^WM^QOX5_X)9? SQK?_M%>&;K3-(\'>"_ ^KW6C7O]H?8/$4^
MG65O'IDZVHD:&?S9$5E<+LW9?:,FODCXZWOP4^ _[6/[:+?M-?MU_$;X.^,]
M5UBQ\5_"/3O#?C^;1/\ A)89/#ME;6LUA:Q;6UN=+NT>S:V/G*#$%\I=Y9OV
M!EAAG4)/$K@,& =<X(.0?J" ?PJ&[TG2K^ZM[Z^TRWFGM'+6DTL*L\+$8)0D
M94D<<4 >>_L::[\:_%'[(GPM\2_M)Z<UI\0]0^'FC7/CFUDMQ"\6KO90M=JT
M:@"-A,7R@X4Y X%>E444 %%%% !7B/Q._P"1[U'_ *ZK_P"@+7MU>(_$[_D>
M]1_ZZK_Z M?0<._[W+_#^J.''_PEZF#1117V!Y(4444 %%%% !1110!O?#'_
M )'O3O\ KJW_ * U>W5XC\,?^1[T[_KJW_H#5[=7Q_$7^]Q_P_JSUL!_"?J%
M%%%?/G<%<G\:?B!XW^&7@:7Q5\/?@5XC^(NI)<1QIX9\+:AI=K=R(QPT@DU.
M[M;<*@Y(,H8_PAJZRB@#XJ_X))Z7^UA^S!_P3VM/@=\;_P!AOQOHWBGX>V5]
M-8Z6OBCPS<_\)3)=:C?78@L9(-6>.)T22)6-VUNFZ0;68!B*W_!-*S_; ^$W
MB?X_)\7_ -@KQMX3B\?_ !9\0?$+PO?:MXO\,7%O-'<6FGPV^F2_8-5N98KI
MVMY#N\LP* "9<D"OMZB@#Y1_;/MOVU_VHO\ @G79?#+X;? ^]\"?$/XOQZ;X
M=\;6!\3V5R_P_P!+OV":O>-<JZ)=-!:><B>0"[2RQE4^5L?2?PS^'/@WX/\
MPYT#X3?#O1(M-T#PQHUKI6B:= ,);6EO$L4,8]E1%'X5MT4 %%%% !1110 4
M444 %%%% !7QU_P6!_X*S?\ #J+P-X*\:?\ "@?^$]_X3#5KNR^S?\)5_9?V
M3R8DDW[OLMQYF=^,87&.IK[%K\=?^#P+_DAOP6_[&S5?_2:&OL_#[*<OSSC'
M"8'&PYZ4W+F5VKVA)K6+36J6S/-S?$5<+EU2K2=I*UG\UW.3_P"(QK_K'1_Y
MEW_[T4?\1C7_ %CH_P#,N_\ WHK\2:*_J[_B#_AU_P! /_E6M_\ +#X/_6'.
M/^?O_DL?\C]MO^(QK_K'1_YEW_[T4?\ $8U_UCH_\R[_ />BOQ)HH_X@_P"'
M7_0#_P"5:W_RP/\ 6'./^?O_ )+'_(_;;_B,:_ZQT?\ F7?_ +T4?\1C7_6.
MC_S+O_WHK\2:*/\ B#_AU_T _P#E6M_\L#_6'./^?O\ Y+'_ "/VV_XC&O\
MK'1_YEW_ .]%'_$8U_UCH_\ ,N__ 'HK\2:*/^(/^'7_ $ _^5:W_P L#_6'
M./\ G[_Y+'_(_;;_ (C&O^L='_F7?_O17[!_LX_%S_AH#]GKP'\>?^$>_LC_
M (3;P9I>O_V5]K^T?8OMEI%<>1YNQ/,V>9MW[5W;<[1G _C&K^P;_@G)_P H
M]/@/_P!D9\+_ /IIMJ_'/&+@GACA7+L+5RO#^SE.<E)\\Y725U\<I6^1]%P[
MF>-Q]:I&O.Z25M$OR2/9J\1^)W_(]ZC_ -=5_P#0%KVZO$?B=_R/>H_]=5_]
M 6OR'AW_ 'N7^']4>]C_ .$O4P:***^P/)"BBB@ HHHH **** -[X8_\CWIW
M_75O_0&KVZO$?AC_ ,CWIW_75O\ T!J]NKX_B+_>X_X?U9ZV _A/U*?B*[N+
M#P_?WUI)LEALY9(FP#A@A(.#QUKR+_A;7Q!_Z&#_ ,E(O_B*]9\7?\BIJ?\
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M (I?^FYGCY]_R**OHOS1^#M%%%?W0?EX4444 %%%% !1110 5_8-_P $Y/\
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M%%%% !1110 4444 >F_ 3_D':C_UWC_D:[^N ^ G_(.U'_KO'_(UW]? YO\
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MU^B>%'_)P<#_ (I?^FYGCY]_R**OHOS1^#M%%%?W0?EX4444 %%%% !1110
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M (I?^FYGCY]_R**OHOS1^#M%%%?W0?EX4444 %%%% !1110 5_8-_P $Y/\
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M%%%% !1110 4444 >F_ 3_D':C_UWC_D:[^N ^ G_(.U'_KO'_(UW]? YO\
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MU^B>%'_)P<#_ (I?^FYGCY]_R**OHOS1^#M%%%?W0?EX4444 %%%% !1110
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M (I?^FYGCY]_R**OHOS1^#M%%%?W0?EX4444 %%%% !1110 5_8-_P $Y/\
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M%%%% !1110 4444 >F_ 3_D':C_UWC_D:[^N ^ G_(.U'_KO'_(UW]? YO\
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MU^B>%'_)P<#_ (I?^FYGCY]_R**OHOS1^#M%%%?W0?EX4444 %%%% !1110
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M (I?^FYGCY]_R**OHOS1^#M%%%?W0?EX4444 %%%% !1110 5_8-_P $Y/\
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M%%%% !1110 4444 >F_ 3_D':C_UWC_D:[^N ^ G_(.U'_KO'_(UW]? YO\
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M110!QGQF^!GA#XYZ99:3XOU36K6.QG::%M%U:2T9F*[2&*?>&.QKS[_AWO\
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M2?$.OW6J-X>?4DOX+VSAN+N22;[.\EC'.D3.5C:27;@-@?:5 !1110 4444
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M7CGQ-I?@OPI:WFHZU::3\0=0\/:?/$(@S3W\MA/!))'"J,ZAI!&I9F920I4
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<B@ HHHH **** "BBB@ HHHH **** "BBB@#_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>chart-7322c41c00824b0c9121a.jpg
<TEXT>
begin 644 chart-7322c41c00824b0c9121a.jpg
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M\4/V?;O5? WPH:[/@729/&NKH^GK<OOG0SI=++,K,!Q([;0H";0,5TG[=/\
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M#^RI\0(?%+#5;?4?"=GJ,GBV:VO[])T#W=W;[)+=Y ^Q"YE6Y9L 19K]0_\
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M;F\-Z_HNH_V7XU\(W5V)WTN\V!U,<H5?.@D0[DDVJ3AU(#(U?5U !17Y)?\
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MYBAFM=(U"WB!D,[:C+;'SX+I PMX6D42D".-D;: ?KS_ ,$I_P#@I/\ #/\
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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M\TPLP$@5OLL((P&#?5M%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M(U=2V.@8>M &Q1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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MCX:VWC:S^'/A^T^)=]!=>(XM$M$\07-J@6*:]$*B=T X"F3<0!Q@U\J?'O\
MX)W_ +7_ ,3/V[C^VM\//VW_  =IL>C:$FE_#KPCXT^"T^NP^$%>%5OKBU>/
M6[1&NKIPV^X:'S%BV0*P16W_ %CX%L/&.E>"M(TOXA^);+6M?MM-@BUK6--T
MIK"WOKM8P)9XK9IIC;H[AF$1ED* A=[8R0#5HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH I^(KNXL/#]_?6DFR6&SEDB; .&"$@X/'6O(O^%M?$'_ *&#
M_P E(O\ XBO6?%W_ "*FI_\ 8.G_ /1;5X'7T^08>A6HS=2">O5)GFXZ<X27
M*VCH_P#A;7Q!_P"A@_\ )2+_ .(H_P"%M?$'_H8/_)2+_P"(KG**]_ZC@O\
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M3/\ \H__ '4^7_UO_P"G'_DW_P!J?VV45_$G11_Q+O\ ]3/_ ,H__=0_UO\
M^G'_ )-_]J?VV45_$G11_P 2[_\ 4S_\H_\ W4/];_\ IQ_Y-_\ :G]ME%?Q
M)T4?\2[_ /4S_P#*/_W4/];_ /IQ_P"3?_:G]ME%?Q)U_8-_P3D_Y1Z? ?\
M[(SX7_\ 33;5^>^(7AG_ *B82A7^M^V]I)QM[/DM97O\<K_@>OE&=?VK4E'V
M?+RJ^]_T1[-1117Y6>Z%%<7^TC\4=<^!W[.WCWXU>&/ ]SXGU+P?X+U76].\
M-6183:M/:6DL\=I&55B'E:,1C"L<N, ]*^6O^"66M_M,?'#4IOVTM>_;>^%7
MQ0\(?%;P_I^H:[X5\$^';NW7PAJ,=I$D5E9S/JERH109%N(YH8I6E&\[#F,
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M/X%3U7Y'EYA\<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7
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M!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y%%7T7YH_!VBBBO[H/R\****
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M\H]/@/\ ]D9\+_\ IIMJ_CYK^P;_ ()R?\H]/@/_ -D9\+_^FFVK^>_I!_\
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M!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y%%7T7YH_!VBBBO[H/R\****
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M\H]/@/\ ]D9\+_\ IIMJ_CYK^P;_ ()R?\H]/@/_ -D9\+_^FFVK^>_I!_\
M(HP/_7R7_I*/KN$?]XJ^B_,]FKQ'XG?\CWJ/_75?_0%KVZO$?B=_R/>H_P#7
M5?\ T!:_G?AW_>Y?X?U1]9C_ .$O4P:***^P/)"BBB@ HHHH **** -[X8_\
MCWIW_75O_0&KVZO$?AC_ ,CWIW_75O\ T!J]NKX_B+_>X_X?U9ZV _A/U,_Q
M=_R*FI_]@Z?_ -%M7@=>^>+O^14U/_L'3_\ HMJ\#KMX<_@5/5?D8YA\<0HH
MHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\ 7>/^
M1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"QLU7_
M -)H:_8JOQU_X/ O^2&_!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y%%7T
M7YH_!VBBBO[H/R\**** "BBB@ HHHH *_L&_X)R?\H]/@/\ ]D9\+_\ IIMJ
M_CYK^P;_ ()R?\H]/@/_ -D9\+_^FFVK^>_I!_\ (HP/_7R7_I*/KN$?]XJ^
MB_,]FKQ'XG?\CWJ/_75?_0%KVZO$?B=_R/>H_P#75?\ T!:_G?AW_>Y?X?U1
M]9C_ .$O4P:***^P/)"BBB@ HHHH **** -[X8_\CWIW_75O_0&KVZO$?AC_
M ,CWIW_75O\ T!J]NKX_B+_>X_X?U9ZV _A/U,_Q=_R*FI_]@Z?_ -%M7@=>
M^>+O^14U/_L'3_\ HMJ\#KMX<_@5/5?D8YA\<0HHHKZ,\\**** "BBB@ HHH
MH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\ 7>/^1KOZ^!S?_D8U/E^2/<PO
M^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"QLU7_ -)H:_8JOQU_X/ O^2&_
M!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y%%7T7YH_!VBBBO[H/R\****
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M\H]/@/\ ]D9\+_\ IIMJ_CYK^P;_ ()R?\H]/@/_ -D9\+_^FFVK^>_I!_\
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M!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y%%7T7YH_!VBBBO[H/R\****
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M\H]/@/\ ]D9\+_\ IIMJ_CYK^P;_ ()R?\H]/@/_ -D9\+_^FFVK^>_I!_\
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M!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y%%7T7YH_!VBBBO[H/R\****
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M\H]/@/\ ]D9\+_\ IIMJ_CYK^P;_ ()R?\H]/@/_ -D9\+_^FFVK^>_I!_\
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M* /"_P#AWO\ !/\ Z&WQW_X65S_C1_P[W^"?_0V^._\ PLKG_&O=** /"_\
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
3!1110 4444 %%%% !1110!__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>chart-86c38963408642a59e01a.jpg
<TEXT>
begin 644 chart-86c38963408642a59e01a.jpg
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M.9OB%X0N"EQ?Z=<I&'CAA92JW"S[E6&0[ S$AA&5<* ?<=%?DU^S1_P<#_\
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M?\,O!%CX8\1>'_&_B>UTF4+IT"VL-Q#]I=!<1R0Q1/NC+;6<JV&&*YO_ (+
M_P#!Q/X<^$/_  3OC_:4_P""87B_2O%MUK7Q6F\!1^-;_1Y7L=,N;>Q^V7$T
M$4ZJ+A]K1+&S Q-N=L.% ;U[XG?\&OG_  17^*7C^;XA7_[)\FCS7=PTU[I?
MAGQ9J-A82L3DA;>*<) O^Q"(U'8"O>-=_P""2_\ P3J\0_L>#]@B\_96\.Q?
M"I+L7D/AFT,T317HSB]6Z607 NL$@W'F>85)4L5)! /P$_X+^^&/VQ=%_8=^
M$_C#]KS_ (++^&OCS?\ C/Q'::S8?"_P]X3TNTBTT-IUPS:G#<VD@>>%/-$
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MW4DTU[=ZJ$#!5N+BZ>261!YDF(RVQ?,;:HW&@#X'_P"#:_\ X*#_ +!OP?\
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MBL+F^L<?;;*"\1YK?/3>@.4_$"@"_139YX+6![FYF2..-"TDDC *J@9))/0
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MX:Z%\)/VKM*UV_T+P]X@76;&ST;7YK$/="&2$&3RS\XV2R 9Y&\X(R<^_44
M4?#'AK0/!?AK3O!WA72H;#2])L8;/3;&W7$=O;Q($CC4=E55  ]!5ZBB@ HH
MHH *^4_VN_\ @D7\ OVV?VW/A'^VM\;_ !WXKNI_@V$E\->!H)[8:-/=I<FY
M6YF1H6E9S((-RB0*PM8@1C=N^K** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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MK9VNN:U'/J5Y+/X=6\CO"D*6T-I9;KO[(LDB7@5</&TC 'EG[3_QITOXY_\
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 9_B[_D5-3_[!T_\
MZ+:O Z]\\7?\BIJ?_8.G_P#1;5X'7UO#G\"IZK\CR\P^.(4445]&>>%%%% !
M1110 4444 >F_ 3_ )!VH_\ 7>/^1KOZX#X"?\@[4?\ KO'_ "-=_7P.;_\
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MWC_D:[^N ^ G_(.U'_KO'_(UW]? YO\ \C&I\OR1[F%_W>(4445YIT!1110
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M)#N4;"R,5^7%?1E !1110!G^+O\ D5-3_P"P=/\ ^BVKP.O?/%W_ "*FI_\
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M+_&OCC5=>UN_L0'"VIO]0N9;B*%=[$1QNBACNQN^:O$/^(C'_@C5_P!'B_\
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MQ_R-=_7 ? 3_ )!VH_\ 7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@****
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M<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\
M7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"Q
MLU7_ -)H:_8JOQU_X/ O^2&_!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y
M%%7T7YH_!VBBBO[H/R\**** "BBB@ HHHH *_L&_X)R?\H]/@/\ ]D9\+_\
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MNKX_B+_>X_X?U9ZV _A/U,_Q=_R*FI_]@Z?_ -%M7@=>^>+O^14U/_L'3_\
MHMJ\#KMX<_@5/5?D8YA\<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[
MQ_R-=_7 ? 3_ )!VH_\ 7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@****
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M<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\
M7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"Q
MLU7_ -)H:_8JOQU_X/ O^2&_!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y
M%%7T7YH_!VBBBO[H/R\**** "BBB@ HHHH *_L&_X)R?\H]/@/\ ]D9\+_\
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MNKX_B+_>X_X?U9ZV _A/U,_Q=_R*FI_]@Z?_ -%M7@=>^>+O^14U/_L'3_\
MHMJ\#KMX<_@5/5?D8YA\<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[
MQ_R-=_7 ? 3_ )!VH_\ 7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@****
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M<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\
M7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"Q
MLU7_ -)H:_8JOQU_X/ O^2&_!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y
M%%7T7YH_!VBBBO[H/R\**** "BBB@ HHHH *_L&_X)R?\H]/@/\ ]D9\+_\
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MNKX_B+_>X_X?U9ZV _A/U,_Q=_R*FI_]@Z?_ -%M7@=>^>+O^14U/_L'3_\
MHMJ\#KMX<_@5/5?D8YA\<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[
MQ_R-=_7 ? 3_ )!VH_\ 7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@****
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M<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\
M7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"Q
MLU7_ -)H:_8JOQU_X/ O^2&_!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y
M%%7T7YH_!VBBBO[H/R\**** "BBB@ HHHH *_L&_X)R?\H]/@/\ ]D9\+_\
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MNKX_B+_>X_X?U9ZV _A/U,_Q=_R*FI_]@Z?_ -%M7@=>^>+O^14U/_L'3_\
MHMJ\#KMX<_@5/5?D8YA\<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[
MQ_R-=_7 ? 3_ )!VH_\ 7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@****
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M<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\
M7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"Q
MLU7_ -)H:_8JOQU_X/ O^2&_!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y
M%%7T7YH_!VBBBO[H/R\**** "BBB@ HHHH *_L&_X)R?\H]/@/\ ]D9\+_\
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MNKX_B+_>X_X?U9ZV _A/U,_Q=_R*FI_]@Z?_ -%M7@=>^>+O^14U/_L'3_\
MHMJ\#KMX<_@5/5?D8YA\<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[
MQ_R-=_7 ? 3_ )!VH_\ 7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@****
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M<0HHHKZ,\\**** "BBB@ HHHH ]-^ G_ "#M1_Z[Q_R-=_7 ? 3_ )!VH_\
M7>/^1KOZ^!S?_D8U/E^2/<PO^[Q"BBBO-.@**** "OQU_P"#P+_DAOP6_P"Q
MLU7_ -)H:_8JOQU_X/ O^2&_!;_L;-5_])H:_1/"C_DX.!_Q2_\ 3<SQ\^_Y
M%%7T7YH_!VBBBO[H/R\**** "BBB@ HHHH *_L&_X)R?\H]/@/\ ]D9\+_\
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M_&O=** /"_\ AWO\$_\ H;?'?_A97/\ C1_P[W^"?_0V^.__  LKG_&O=**
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M/_H;?'?_ (65S_C1_P .]_@G_P!#;X[_ /"RN?\ &O=** /"_P#AWO\ !/\
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M/?Q+F$WB+Q=\,=%U37K@1A!<7DMG$TTP4 !0[EG ' #8%>V4 %%%% !1110
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
'!1110!__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>chart-da8dedd0ee9c44719321a.jpg
<TEXT>
begin 644 chart-da8dedd0ee9c44719321a.jpg
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M0>+]-\CQS\/M0U**WEC9K:*WN%"R2Q&6*7R(9U:)VD2<',9C&& /D3_@C_\
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MDBYQE2,$<>U>(?L+_P#!-S]C?_@FWX0UWP+^QQ\*)/"FF>)=434-9@EU^^U
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MW/B#P7X^T[48KJ5-!M;YREO?6TXCMVE2XDPTD,BA@N<#)KM-2_X(X?L"W_Q
M\5_%"S\$>/M)UKQQXENO$'BJ?PW\<_%^E1:AJ5P^^6X:"SU6*)6)P %15555
M5"JH Z#X[_\ !,?]D[]I+Q_K'C[XM:?XXO%\2^1_PEGAFQ^*NOV.@Z]Y,,<$
M8O-+MKU+2<"**-"&BPX7#A^: .Q^#/[0TO[0_P"QGX8_:J^'OA2ZLI/&OPVM
M/%&BZ)>D/-"]U8+=16[D##,"ZJ2!AL9'!K\Y_P#@F_\ M'_M=_L@_P#!//\
M9;^*VO\ A[X2:]\,OBOXM\/:-KUGH\.H+XG?4O$-[L?69KR24P7=R;V8RSP>
M0& W!96V;J_2D_LP? ]?C/X8^/MIX*%KXE\&^$[GPUX:FLKZ>"UL=+G>%Y+=
M;2-Q;D9MX@I,9*A<*0.*\S^'/_!*7]B#X5?%?3_BWX.^&>K)-H>O7&N>&/#-
M[XUU6Z\/>']4N#(TU[I^CS7+6-G.QED.^*%2A<[-F30!]%T444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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M?4]IHKQ;_A;7Q!_Z&#_R4B_^(H_X6U\0?^A@_P#)2+_XBNW_ %=QO\T?O?\
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M_JSUL!_"?J9_B[_D5-3_ .P=/_Z+:O Z]\\7?\BIJ?\ V#I__1;5X'7;PY_
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M/_Z+:O Z]\\7?\BIJ?\ V#I__1;5X'7;PY_ J>J_(QS#XXA1117T9YX4444
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M_JSUL!_"?J9_B[_D5-3_ .P=/_Z+:O Z]\\7?\BIJ?\ V#I__1;5X'7;PY_
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M/_Z+:O Z]\\7?\BIJ?\ V#I__1;5X'7;PY_ J>J_(QS#XXA1117T9YX4444
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M_JSUL!_"?J9_B[_D5-3_ .P=/_Z+:O Z]\\7?\BIJ?\ V#I__1;5X'7;PY_
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M/_Z+:O Z]\\7?\BIJ?\ V#I__1;5X'7;PY_ J>J_(QS#XXA1117T9YX4444
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M>Z44 >%_\.]_@G_T-OCO_P +*Y_QH_X=[_!/_H;?'?\ X65S_C7NE% 'A?\
MP[W^"?\ T-OCO_PLKG_&C_AWO\$_^AM\=_\ A97/^->Z44 >%_\ #O?X)_\
M0V^._P#PLKG_ !H_X=[_  3_ .AM\=_^%E<_XU[I10!X7_P[W^"?_0V^._\
MPLKG_&NS^#/[-?@+X&:G>ZMX0UGQ#=27\"Q3+K6N2W:JH;(*AS\ISW%>@T4
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M[;Q-\-)-9L[NZT])H[76+"--0MVM;E(YY(_*E>>%U$>\$ID_65% 'PE\7_\
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M%\%^)]5T.YM- \7-HZ:A_8UW)$R178MG=%G,;$.(V8!BH!.*Z:B@#Y _8/\
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
J**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** /_9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>esignaturedpa261a.jpg
<TEXT>
begin 644 esignaturedpa261a.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_X1#R17AI9@  34T *@    @ ! $[  (
M   -   (2H=I  0    !   (6)R=  $    :   0T.H<  <   @,    /@
M   <Z@    @
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M                                                 $UA<GDN16QT
M87=I;     60 P "    %   $*:0!  "    %   $+J2D0 "     S4S  "2
MD@ "     S4S  #J'  '   (#   ")H     '.H    (
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M[E^@^? [8% 'IE%%% !1110 4444 %%%% !1110 4444 %%%% !1110!Y?\
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MFM]=L+=IIIAG[D@SQ@GD#J3GGK73ZWIGBKXPS0V%W8W?A7PE#<9NDNB4O-0
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F444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110!__]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>fmlogoa411.jpg
<TEXT>
begin 644 fmlogoa411.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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M P$  A$#$0 _ /LN@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@
MH * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H *
M"@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H
M * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "
M@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H
M* "@ H * "@ H * "@ H * "@ H "0HR> * /$_$?[0'A3P]*UNLLNH2QG:P
MLXUD0'T\V1XHF'J8W<?4@B@5S'C_ &B]'C >]T[5K2%L8F>WC,?/0D^:#@\8
MVAB<]* N>S^&_$NG^++%-3TF47%M(2 P!4JR_>1T8!D=>X8#@AAE6!(,W: "
M@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H
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MCB(_O(3WI#6AZ?0,* "@ H * "@ H * "@ H * "@ H * "@ H * "@ H *
M"@ H * "@ H * "@ H * "@ H * "@ H * "@#R;XT^,_P#A#/#<\D+;;R]S
M:VW.&#2*=\@[_NH]S ]!)Y8/WJ!'Q9\&O!Q\8^);:"1=UI:'[5<Y^[Y<1!5#
MZ^;*4C(SG878?=-,2/TLI%!0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0
M4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 (V<''7MGIGWH \+D\*?$IV+
M+XBM$!)(4:?;D*"> ";<G Z#))]230(F3PA\1"HW^)X5;N!I=HP_ F-2?R%
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MR" 1R* /SP^!-T]KXTT[8>)3/&P]5:VFX/T8*P]U%,E'Z1TB@H * "@ H *
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M*9*/TGI%!0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0
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MN)+NPN]K2L-SM:LJ!2KC^& XS&X^5,F-MI"%V2S-^%OQZNO!D(TO6DEO].3
MA9&!N+=0,;$WE5DBP/EC9TV?POMPE 7._P#$<WB#X^RPV6DVTVD^'(F$CW-V
MNPSOR ^Q6(EV D1QQ,Z!B6EE4E-@!]%^"O!.F^ M/73=+3 X::5N9)I, &1S
M[XX5<(@X4#G**V.OH * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H
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M0S*JL"0 L/&4=U97MY<6EW8OI0?[1;W"1^;E(1/^Z,4LL<JLA&QE?#'C /%
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MP7)C8X8 %&8 ](U?5(-$M);ZZ8)'"I;D@%FZ*BYZO(V$11RS,% )- S1H *
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M EPT2><H'0"4 /@9.T;L#)QC)H +;PII-G=_VE#:Q)>%=IG"_O2O'RE\[BO
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M+;VR"*).%1<X4=,#/0 #  X Z4 8NM^#M%\1L)-4LK:ZD3&V22-3*H!R LH
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M>4G_ *":!GFG@"Y='MH[EI8#=:392QQR2F5+J0*3/<1EF;;*@>,3*-KL'1Y
MP"$ CI?&^?LELJDC=J-@APS)E7NHT92R\[75BK=<J2"#TH&:ND6QT6W\F[FS
MOGD\H22%@@ED9HK=))<.^T$*@//\" (JJ #=H * "@ H * "@ H * "@ H *
M "@ H * "@ H * "@ H * "@""YM8;Q#%<(DT9P2DBAU)!R,JP(X(R..#S0
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MHLBE' 96!!!&00>""#P01P0>M $ LH%5(Q'&$A(,:[%Q&1T*#&%(R<%<8S0
M^>VBN0%F1) K!@'4, PZ, 0<,.Q'([4 2,BOC< <$$9&<$="/<=C0 Z@ H *
M "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@
MH * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H *
M"@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H
M * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "
M@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H
M* "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@
6 H * "@ H * "@ H * "@ H * /_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>image0b311.gif
<TEXT>
begin 644 image0b311.gif
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MFSASZMS)LZ?/GT"#"AU*M*C1HTB3*EW*M*G3IU"C2IU*M:K5JU#O30LCP@"
MKV##BAT[($$,1>BPJEW+MJW;B/H6C15KX Z]C,*\SB6K @F@<??ZO1U,N+!A
MFL,2[/UZ@]W">+;";!@P=T")3?$^JC/T0>R;>X=#BQY-6J&1Q5\9:)M)#QRT
M4X:R&)EM) PT?09U@'U3NK?OWU8%H0:;I.>])WL9A"GG#[CSY]"+YKLQ_.N
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M",K2(.;=]L#._WC7 /PED&'P>2+PPLY Y""!EW+Y33$PA9[*@8$LB%F+, !
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M0.P@"CY0C&+Q #&0!<SP7=E8CN9XCNB8CH3!#D<$ Q.E#GV0316 67T#*
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MSV<=<%H1O!(6_;EK@^!Q"? '4XH0Y6 PB?_ZCZ#R#L'4 ;WIJ)3:$NK@ P;
M UA:J9S:J9[ZJ4]GG,)0$'&0G60F$;. 9A-Q+P,F1X^%!%<H9Q.B=A"!9P:
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M&*Z@@B1LXE6<0V "32(3'_Q&*%<  "Y.@@L :"$E\9!*(1#2C_\QE(!X+V+
M#1R($GU(P0 2-,@X ,"9^.A#! X8H4+NH8Z1L*,%$NB=1)B!  .<[U=7&, L
M#C(. XB@9"6!8((,(@P#$$N!3X1B2*Z!DP$XX6D2@2 *2T)!"\+$&@.0P*;0
M48%KE:0N-V '/<AABR%\4"0E!  33"&,64@!"?.C#'.N4)E)O8%?"CD% % 0
MPX_T X)RI*,=KSB1)%XC$DHX PVC.$E*%H0:YS$$ 'YADBQ.$ ![%(H^L@
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MX >'_F(&*'^^ 9[ IY&4HPJ[CWYJ&8 'O"N_<>K05?C5OW[U2R# ![%')SJ
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MRA)H2-;3&@ 1>()"T(9WH <"J\YS-189<SJ7N QHB(#_!WNP4&._,*J,)Y!
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MKGZI Y8N"'\5"=L61<_Y6WTH-RX00H<8\*?(,P,XA7+H.0,P;Y/X@U.+S,F
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MAGB"@]"''K ()ICB?9^16Q<*>E "#BD!88A@G@@/@_\(A/^()*T1Z-ZI1O\
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MFWX28 1&AH48>&!!?@S@@2S@83ID>8<AV" ": +  #%XPRI*V,.^>84>46!
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=[B /]J /_B 0!J$0#B$1%J$1'@<A$B:A#@8$ #L!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>image0b331a.gif
<TEXT>
begin 644 image0b331a.gif
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MFSASZMS)LZ?/GT"#"AU*M*C1HTB3*EW*M*G3IU"C2IU*M:K5JU#O30LCP@"
MKV##BAT[($$,1>BPJEW+MJW;B/H6C15KX Z]C,*\SB6K @F@<??ZO1U,N+!A
MFL,2[/UZ@]W">+;";!@P=T")3?$^JC/T0>R;>X=#BQY-6J&1Q5\9:)M)#QRT
M4X:R&)EM) PT?09U@'U3NK?OWU8%H0:;I.>])WL9A"GG#[CSY]"+YKLQ_.N
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M",K2(.;=]L#._WC7 /PED&'P>2+PPLY Y""!EW+Y33$PA9[*@8$LB%F+, !
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M0.P@"CY0C&+Q #&0!<SP7=E8CN9XCNB8CH3!#D<$ Q.E#GV0316 67T#*
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MSV<=<%H1O!(6_;EK@^!Q"? '4XH0Y6 PB?_ZCZ#R#L'4 ;WIJ)3:$NK@ P;
M UA:J9S:J9[ZJ4]GG,)0$'&0G60F$;. 9A-Q+P,F1X^%!%<H9Q.B=A"!9P:
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M&*Z@@B1LXE6<0V "32(3'_Q&*%<  "Y.@@L :"$E\9!*(1#2C_\QE(!X+V+
M#1R($GU(P0 2-,@X ,"9^.A#! X8H4+NH8Z1L*,%$NB=1)B!  .<[U=7&, L
M#C(. XB@9"6!8((,(@P#$$N!3X1B2*Z!DP$XX6D2@2 *2T)!"\+$&@.0P*;0
M48%KE:0N-V '/<AABR%\4"0E!  33"&,64@!"?.C#'.N4)E)O8%?"CD% % 0
MPX_T X)RI*,=KSB1)%XC$DHX PVC.$E*%H0:YS$$ 'YADBQ.$ ![%(H^L@
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MX >'_F(&*'^^ 9[ IY&4HPJ[CWYJ&8 'O"N_<>K05?C5OW[U2R# ![%')SJ
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MRA)H2-;3&@ 1>()"T(9WH <"J\YS-189<SJ7N QHB(#_!WNP4&._,*J,)Y!
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MKGZI Y8N"'\5"=L61<_Y6WTH-RX00H<8\*?(,P,XA7+H.0,P;Y/X@U.+S,F
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MAGB"@]"''K ()ICB?9^16Q<*>E "#BD!88A@G@@/@_\(A/^()*T1Z-ZI1O\
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MFWX28 1&AH48>&!!?@S@@2S@83ID>8<AV" ": +  #%XPRI*V,.^>84>46!
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=[B /]J /_B 0!J$0#B$1%J$1'@<A$B:A#@8$ #L!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>image52a.gif
<TEXT>
begin 644 image52a.gif
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MFSASZMS)LZ?/GT"#"AU*M*C1HTB3*EW*M*G3IU"C2IU*M:K5JU#O30LCP@"
MKV##BAT[($$,1>BPJEW+MJW;B/H6C15KX Z]C,*\SB6K @F@<??ZO1U,N+!A
MFL,2[/UZ@]W">+;";!@P=T")3?$^JC/T0>R;>X=#BQY-6J&1Q5\9:)M)#QRT
M4X:R&)EM) PT?09U@'U3NK?OWU8%H0:;I.>])WL9A"GG#[CSY]"+YKLQ_.N
M5]&S:]_.?2$^W=4!2/^XV[V\^?.^R83_N@B]^_?PV<[26]U N?CX\^M7VDW"
M^@&FK'0/.MCDL@831N2@8 Y),!''+-:40QY)^JC3S3249(&@#@L*P003A3"C
M#3JX[6?BB0^!PT02++;HXHLPQBCCC#(*H=AZ,'RAXXX\4E==& :E(P5]8 WP
M@12]@,..8 95"$XO3/BW'@ QW)<0.D90-M8#/IBRC3J@'?1..="P40*1PPWP
MA#THMNFF2X5,6<([$ TRI0&+E!A2.3>BU@-R8"%!ITCZ"%%= M*\J>BB'4&#
MP'H)5$/1/=5%LE(DU?&PTCG5L9 9HZ"&VI [(DPY"$:4HF9 ,BOIP\1PF;#_
M!,IP$H@CZJVX_J-/%%,B$69&J2ZV:JNOHA;K2K.B-F>NS+ZYRI08@/-1L'L-
MJY*KL++DQW#+-NLM?N3T.9P!LXQ$[5S6IG3/"=FJU,\5P\4PS[?TFJ=/#U.F
M<1(WU96KTCU2+@;$2O$P,)P/O]:KL'.;3$E#PB;!45TC*VU3W0/?J!1/=3!\
MNO#'HW4C+FI,,+G2&^$E8;))%H>GP3DJ2?-?%X.";/-:^L00W@>.>00-!@\$
M+;30$A1M]-%(2Q"T PLDX#0N&SECRM14F_+*,%AGK?767'/=RRE53[W-2_2P
M,TXWVZ2]#3;&:(T+V&%/+>W-=.<D#PWCGE+WWGP+_Z5/"5-^E0 E>CI$CQ.+
MQ=!-WXPW;M0[B >^G@B2>.SXY9AGKOGFG'?N.;WQ['++Z+QP0TX\J*>N^NJH
MBX/-*VY(VO@V#XAB$CHB^/'Y[A;9DT-8,4"<D"*&'#1-%UHDK_SR6@ YD#YX
M^'#%\ER P7P2.DB1_!NC&$.B1OI ,X8#J T@01":)$3)5P8D8,$-.CS!_/ST
M*]^##A\8(  #:5VTC<%A@5I'Z&&HL!RB(_T( @ 4@9%XW*%^RPM#S?2!! I8
MD 4ZR" $E[<$$AC  ,QH"#H:$0,M[04!,WB"\-BAF $8X $NT$$0-DA#)N@@
M!@SP"AL* @PNT'"'$M$'./] (84'F' X!5B $,(0B5?,HF?OZ4<7@">\BN""
M2%4L2#Q*]94'+&XA[  <6#J@#H?HHP5@4<5#\K$RBH0A+%)H8TC,L8&OL$$?
M/@A+ JQAD7X8XBLP> <Z @8 :&2$'OXQ0!/"0H/"500; /R*E11R#_H,0!D7
M<058:& YA?0CBPXIAQ[Y>)%,Z-&1"/E&P*Z RHH(9T+ND:)8%L" !'SPEG-!
M!D.N&!90#H0>8@2 %QL"!K#(H94+602: *""7R S(V\$2QQ+DC/&P+(<#]"C
MK1RBBRZ.C2#/H$\"L%$1= !0@ -Y15@>, Z+0#(LDTQ()8N$R87H0XX%&0<+
MQL+_@#G4C".B!,L>,6)*@3[S'Z=8YQ=O)DNP!&\CO 2++P4"3+ 8P ^SR*A&
M9Q%-Z]#AH!3IQS100!8VX#,B'07 -$D"'@"T$R'-(%(#RF@0=?AG +9+R!_!
M@H%X-L0:-]J %*Y U*(650I<9-\O)O).L/CT(/.T3CT3<@HI5&0=85CF!YX*
MD8 *CI06*:C@GMD/0(A%=W3S75A$,%&(1/0KWU0(.P*6 $,RI!%'1 %7#=*+
M?S*$'C8 2\<LDM*'D20+8*&#0Z!!I W0(X\ X$U#]'$:L'R@?PM1!0&^(HB(
MC$-<5X!(4R7)D*@"X)(684<Q(D()$[J"(EX%@ %T0="P_Q@ B@FA!Q+$PH!5
M;.04>G.//KJ15+ PX!7T *D]H3$R!D@C, ?I1SI(:EM))!<B_1!$)+_R 5.H
MHT3O&%D&[F"*9C1#&:_ 0\ 8@(CF7$0?*!-+#L@!W8[<PQ3B$L+W'L(-K]!@
M(K@8&0"$H(QXE$@?[- #D0S!CXJH8[O"/,4[3OH/23"RDP71!S:R*;FOE$ >
M!JFL1:70"&"8%QB+P)=U=+!7A_3C&H0$0 ).<=T@J@)-$_A&?;O*!0[OY0 7
M\($-*+" RLR-=T@>RH:_PH(6)_G)4":;.2@<Y2I;^<I8SK*6MYP?6RBF!-*@
MLD+@A<Z'X ( 6J@(GR)%$&%(P/_)"('D#2;$CK821!]#*O,O#.!;DC " %'8
M",K2(.;=]L#._WC7 /PED&'P>2+PPLY Y""!EW+Y33$PA9[*@8$LB%F+, !
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M0.P@"CY0C&+Q #&0!<SP7=E8CN9XCNB8CH3!#D<$ Q.E#GV0316 67T#*
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MSV<=<%H1O!(6_;EK@^!Q"? '4XH0Y6 PB?_ZCZ#R#L'4 ;WIJ)3:$NK@ P;
M UA:J9S:J9[ZJ4]GG,)0$'&0G60F$;. 9A-Q+P,F1X^%!%<H9Q.B=A"!9P:
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M&*Z@@B1LXE6<0V "32(3'_Q&*%<  "Y.@@L :"$E\9!*(1#2C_\QE(!X+V+
M#1R($GU(P0 2-,@X ,"9^.A#! X8H4+NH8Z1L*,%$NB=1)B!  .<[U=7&, L
M#C(. XB@9"6!8((,(@P#$$N!3X1B2*Z!DP$XX6D2@2 *2T)!"\+$&@.0P*;0
M48%KE:0N-V '/<AABR%\4"0E!  33"&,64@!"?.C#'.N4)E)O8%?"CD% % 0
MPX_T X)RI*,=KSB1)%XC$DHX PVC.$E*%H0:YS$$ 'YADBQ.$ ![%(H^L@
M+OA %# Y(R$79D(M_F,:#$B *ZZD"0 88),2Z1A)OD0#-R)$%@;0PQ\+"40A
M&J0:L.P2$@&@Q$HVDY+TF(8D( $)49#_0Y@V*4<VLZE*5:E#F^,8AS;+@4>$
MW",80F''-\79RX_H0YSE.*)!XJ'-1?ZE'^A QC2G*8EGL',D\;"&-"'1"7#4
M,R'N%&<\"S+/;%[Q'N_DID'Z40Y_.M.B%\5H1C6Z48YVU*,?!6E(13I2DI;4
MI"=%:4I5NE*6MM2E+X5I3&4Z4YK6U*8WQ6E.=;I3GO;4IS\%:E"%.E2B%M6H
M1T5J4I6Z5*8VU:E/A6I4I3I5JE;5JE?%:E:UNE6N=M6K7P5K6,4Z5K*6U:QG
M16M:U;I6MK;5K6^%:USE.E>ZUM6N=\5K7O6Z5[[VU:]_!6Q@!3M8PA;6L(=%
M;&(5NUC&-M:9_P\U119$\  #\,8H S   B10@CGHXH".!2WG[J&*$CR)0Z=%
M+6K>$%K65BX>;[!L:A_R  G4UK8),.U@3ME:WBZN'\KPCVP?$@5H1#0A]X!&
M$BS+ +;UUKF"TP>K9#N %ECCFB2Y!J)JM  'D. &.C!"&?; #'K<@YS/1:_4
M^A$)X5; %N<-B29B*]P!J" ,TS!H>O7K'F.8*+4E6%1& J8/ M_#P :F!\?.
MHP\Z*" !#S9 ;H4K D,H=+\7U@X[8B!;"0S#=_,5;D.B %]V3.,5?NB!!$#,
M@#X8%\,O)F$AIFL&.=U#&6\0 8A91(-3P+>=TZ!#!W)+!0O#V,@D0?^'8%+[
M  R-)!VB<(($-C2 #AA"DNX9APD1P\PC=SDDY$%M##YK$A?71A]X>!(GO+QF
M1DU*MBB:VRD$4!YPL-G.!2F1<$$Y-WU8" !RN#.;6Q'B)%1-'^- !B6>8 ,&
MK#@3".FS0UP4Z"Z;(<0TR$>6^D$.8/@A!PPHP&D9T((2I(U# T@F/^K@D"3D
ME]*AU8>;9;N!*V/I';;(@A!RH ,?2.$.UF!'BNAABB<9@%3L&(1='K(('[^Z
ML?1008@3<*NQ"0(U#MB,*IKM;,:B([BR-0"7QQ:/#1M% E+ AJNY#=IQ*%NV
M M!@VV3Q@!@P813FZ-&ZCSP-[<J68OH&.-C_C-'OU!KAN@%'>-1ZH>/-V"/A
M#Z^:+AB>J%I#W.)9 L;$BU2-BW<\2\/0.%_$[7&2KZ89(0= )$J^\MI @^"I
MW0++95X9:[A;N#>8><Z?T@W_AI@!9=9YT!4RCF\+UP#:$WK2/Z*.Z(28+]=0
M>M27KJ<0CUSJ5X\'"IP.IZMW_4":V?H3#NYUG><C"5L' )S)?G5];&3K-E#W
MVB_>#S>@G05 ;V&"$^PU?>B='IF6NU4'@?82%%D[_6"'-?2@@PZ\G$,&P, -
MW&"-BO[E'=A8A!#.M?4$=$ (BMA8X"NICWJ4WO2G1WWJ5;]ZUK?>$!)&K03*
MT?K4Q_T?[L"%#FR.__;3;N -2.]6,8B ;=X+EP2+:(?H%3B."A3?^<^'?O$?
MX >'_F(&*'^^ 9[ IY&4HPJ[CWYJ&8 'O"N_<>K05?C5OW[U2R# ![%')SJ
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MRA)H2-;3&@ 1>()"T(9WH <"J\YS-189<SJ7N QHB(#_!WNP4&._,*J,)Y!
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MKGZI Y8N"'\5"=L61<_Y6WTH-RX00H<8\*?(,P,XA7+H.0,P;Y/X@U.+S,F
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MAGB"@]"''K ()ICB?9^16Q<*>E "#BD!88A@G@@/@_\(A/^()*T1Z-ZI1O\
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MFWX28 1&AH48>&!!?@S@@2S@83ID>8<AV" ": +  #%XPRI*V,.^>84>46!
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=[B /]J /_B 0!J$0#B$1%J$1'@<A$B:A#@8$ #L!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>image61.jpg
<TEXT>
begin 644 image61.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_X1#R17AI9@  34T *@    @ ! $[  (
M   -   (2H=I  0    !   (6)R=  $    :   0T.H<  <   @,    /@
M   <Z@    @
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M                                                 $UA<GDN16QT
M87=I;     60 P "    %   $*:0!  "    %   $+J2D0 "     S(P  "2
MD@ "     S(P  #J'  '   (#   ")H     '.H    (
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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MC2.8.Q48"'@Y!XP.!U/6@#H:*** "BBB@ HHHH **** "BBB@ HHHH ****
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M,<]#P!Z38^%;K4-2M]8\97$=[>VS^9:6<&1:V;8QE0<&1O\ ;?D'[H6J&A>
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M5S;RC;)%*@96'N#531O#VD>'H9H]$T^"R6XD,LWE)@R.?XF/4FBB@#1HHHH
>**** "BBB@ HHHH **** "BBB@ HHHH **** /_9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>17
<FILENAME>image71a.jpg
<TEXT>
begin 644 image71a.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_X1#R17AI9@  34T *@    @ ! $[  (
M   -   (2H=I  0    !   (6)R=  $    :   0T.H<  <   @,    /@
M   <Z@    @
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M                                                 $UA<GDN16QT
M87=I;     60 P "    %   $*:0!  "    %   $+J2D0 "     S<V  "2
MD@ "     S<V  #J'  '   (#   ")H     '.H    (
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
"_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>projectsmap2018a151a.jpg
<TEXT>
begin 644 projectsmap2018a151a.jpg
M_]C_X1.917AI9@  34T *@    @ # $   ,    !!7(   $!  ,    ! R\
M  $"  ,    #    G@$&  ,    !  (   $2  ,    !  $   $5  ,    !
M  ,   $:  4    !    I $;  4    !    K $H  ,    !  (   $Q  (
M   D    M $R  (    4    V(=I  0    !    [    20 "  (  @ "OR
M   G$  *_(   "<0061O8F4@4&AO=&]S:&]P($-#(#(P,3@@*$UA8VEN=&]S
M:"D ,C Q.#HP-3HR.2 Q,3HT,3HP,P  !)    <    $,#(R,: !  ,    !
M__\  * "  0    !   $<: #  0    !   #"0         & 0,  P    $
M!@   1H !0    $   %R 1L !0    $   %Z 2@  P    $  @   @$ !
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ML;_<D,?& @4U@'D!C>W]E323;/=3#[/C\>C7',;&_#]U3:UK6AK0&M&@:!
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M<++&N%8<TN<=X IL]@_0[F.?_P"?O^#4*GXP#Y8Y[6CU/3>1 <P_H_>R'/\
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M&_O'_-_\R2AO[Q_S?_,D4,4E*&_O'_-_\R2AO[Q_S?\ S))3%)2AO[Q_S?\
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M97!S #A"24T$)0      $$"[LC7*^ /\TQ6P)_X6<,XX0DE-!#H      /<
M   0     0      "W!R:6YT3W5T<'5T    !0    !0<W138F]O; $
M26YT965N=6T     26YT90    !#;')M    #W!R:6YT4VEX=&5E;D)I=&)O
M;VP     "W!R:6YT97).86UE5$585     H 6 !% %( 3P!8 "T 4 !2 $X
M      ]P<FEN=%!R;V]F4V5T=7!/8FIC    # !0 '( ;P!O &8 ( !3 &4
M= !U '        IP<F]O9E-E='5P     0    !";'1N96YU;0    QB=6EL
M=&EN4')O;V8    )<')O;V9#35E+ #A"24T$.P     "+0   !     !
M   2<')I;G1/=71P=71/<'1I;VYS    %P    !#<'1N8F]O;       0VQB
M<F)O;VP      %)G<TUB;V]L      !#<FY#8F]O;       0VYT0V)O;VP
M     $QB;'-B;V]L      !.9W1V8F]O;       16UL1&)O;VP      $EN
M=')B;V]L      !"8VMG3V)J8P    $       !21T)#     P    !29" @
M9&]U8D!OX            $=R;B!D;W5B0&_@            0FP@(&1O=6)
M;^            !"<F1456YT1B-2;'0               !";&0@56YT1B-2
M;'0               !2<VQT56YT1B-0>&Q 4@            IV96-T;W)$
M871A8F]O; $     4&=0<V5N=6T     4&=0<P    !09U!#     $QE9G15
M;G1&(U)L=                %1O<"!5;G1&(U)L=                %-C
M;"!5;G1&(U!R8T!9            $&-R;W!7:&5N4')I;G1I;F=B;V]L
M  YC<F]P4F5C=$)O='1O;6QO;F<         #&-R;W!296-T3&5F=&QO;F<
M        #6-R;W!296-T4FEG:'1L;VYG          MC<F]P4F5C=%1O<&QO
M;F<      #A"24T#[0      $ !(     0 ! $@    !  $X0DE-!"8
M  X             /X   #A"24T$#0      !    !XX0DE-!!D       0
M   >.$))30/S       )           ! #A"24TG$       "@ !
M  $X0DE- _4      $@ +V9F  $ ;&9F  8       $ +V9F  $ H9F:  8
M      $ ,@    $ 6@    8       $ -0    $ +0    8       $X0DE-
M _@      '   /____________________________\#Z     #_________
M____________________ ^@     _____________________________P/H
M     /____________________________\#Z   .$))300(       0
M 0   D    )      #A"24T$'@      !      X0DE-!!H      VD    &
M              ,)   $<0   !H 1@!- %, 0P!? &T :0!N &4 7P!M &$
M< !? '( 90!V %\ ;0!A 'D 7P R #  ,0 X     0
M       !              1Q   #"0                     !
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M;&]N9P   PD     4F=H=&QO;F<   1Q     W5R;%1%6%0    !
M;G5L;%1%6%0    !        37-G951%6%0    !       &86QT5&%G5$58
M5     $       YC96QL5&5X=$ES2%1-3&)O;VP!    "&-E;&Q497AT5$58
M5     $       EH;W)Z06QI9VYE;G5M    #T53;&EC94AO<GI!;&EG;@
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M       ! 0 X0DE-!!0       0    !.$))300,     !(K     0   *
M  !M   !X   S&   !(/ !@  ?_8_^T #$%D;V)E7T--  +_[@ .061O8F4
M9(     !_]L A  ," @("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,# P,
M#!$,# P,# P,# P,# P,# P,# P,# P,# P,# P, 0T+"PT.#1 .#A 4#@X.
M%!0.#@X.%!$,# P,#!$1# P,# P,$0P,# P,# P,# P,# P,# P,# P,# P,
M# P,# S_P  1" !M * # 2(  A$! Q$!_]T !  *_\0!/P   04! 0$! 0$
M         P ! @0%!@<("0H+ 0 !!0$! 0$! 0         !  (#! 4&!P@)
M"@L0  $$ 0,"! (%!P8(!0,,,P$  A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$
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M;N96QKV/8^EU>QE%W^?L2I^L_5.GY#L/K%(R'U$-L<PM%HD!WTF?JV1[7?\
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MG[JZ,JT>U[^)3]Q)_N"SNB]4OZICNNLQ#BUM@-LW;F6&7AWHES6O<VK:W?\
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MC.)'\D_FO8[WUO\ WUQ&;@6],S&T66M]:D[\6YQ ;95]*GUFR'5OW[Z/Z_\
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M &\ = !O ', : !O '     7 $$ 9 !O &( 90 @ %  : !O '0 ;P!S &@
M;P!P "  0P!# "  ,@ P #$ .     $ .$))300&       '  0    ! 0#_
MX1 ):'1T<#HO+VYS+F%D;V)E+F-O;2]X87 O,2XP+P \/WAP86-K970@8F5G
M:6X](N^[OR(@:60](E<U33!-<$-E:&E(>G)E4WI.5&-Z:V,Y9"(_/B \>#IX
M;7!M971A('AM;&YS.G@](F%D;V)E.FYS.FUE=&$O(B!X.GAM<'1K/2)!9&]B
M92!835 @0V]R92 U+C8M8S$T," W.2XQ-C T-3$L(#(P,3<O,#4O,#8M,#$Z
M,#@Z,C$@(" @(" @("(^(#QR9&8Z4D1&('AM;&YS.G)D9CTB:'1T<#HO+W=W
M=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN=&%X+6YS(R(^(#QR9&8Z1&5S
M8W)I<'1I;VX@<F1F.F%B;W5T/2(B('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D
M;V)E+F-O;2]X87 O,2XP+R(@>&UL;G,Z9&,](FAT=' Z+R]P=7)L+F]R9R]D
M8R]E;&5M96YT<R\Q+C$O(B!X;6QN<SIX;7!-33TB:'1T<#HO+VYS+F%D;V)E
M+F-O;2]X87 O,2XP+VUM+R(@>&UL;G,Z<W12968](FAT=' Z+R]N<RYA9&]B
M92YC;VTO>&%P+S$N,"]S5'EP92]297-O=7)C95)E9B,B('AM;&YS.G-T179T
M/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C O<U1Y<&4O4F5S;W5R8V5%
M=F5N=",B('AM;&YS.G!D9CTB:'1T<#HO+VYS+F%D;V)E+F-O;2]P9&8O,2XS
M+R(@>&UL;G,Z<&AO=&]S:&]P/2)H='1P.B\O;G,N861O8F4N8V]M+W!H;W1O
M<VAO<"\Q+C O(B!X;7 Z0W)E871O<E1O;VP](D%D;V)E($EL;'5S=')A=&]R
M($-#(#(R+C$@*$UA8VEN=&]S:"DB('AM<#I#<F5A=&5$871E/2(R,#$X+3 U
M+3(Y5#$Q.C,Y.C4S+3 W.C P(B!X;7 Z36]D:69Y1&%T93TB,C Q."TP-2TR
M.50Q,3HT,3HP,RTP-SHP,"(@>&UP.DUE=&%D871A1&%T93TB,C Q."TP-2TR
M.50Q,3HT,3HP,RTP-SHP,"(@9&,Z9F]R;6%T/2)I;6%G92]J<&5G(B!X;7!-
M33I296YD:71I;VY#;&%S<STB<')O;V8Z<&1F(B!X;7!-33I$;V-U;65N=$E$
M/2)X;7 N9&ED.F0S,S(Y-C R+3=B-3@M-&1F,RTY,&5C+6%E86%A93(Y.3!B
M."(@>&UP34TZ26YS=&%N8V5)1#TB>&UP+FEI9#IC-C1B8C<W9BTR8V%A+31C
M8C4M.&)D.2UC83 W-3@V8SEB,S0B('AM<$U-.D]R:6=I;F%L1&]C=6UE;G1)
M1#TB=75I9#IA9#DP-C<Q."TW.30R+6,R-# M.#,S,BTT,S$U864T,C)C8V$B
M('!D9CI0<F]D=6-E<CTB061O8F4@4$1&(&QI8G)A<GD@,34N,# B('!H;W1O
M<VAO<#I#;VQO<DUO9&4](C,B('!H;W1O<VAO<#I)0T-0<F]F:6QE/2(B/B \
M9&,Z=&ET;&4^(#QR9&8Z06QT/B \<F1F.FQI('AM;#IL86YG/2)X+61E9F%U
M;'0B/FUA<%]F;W)?8W)E97 N97!S/"]R9&8Z;&D^(#PO<F1F.D%L=#X@/"]D
M8SIT:71L93X@/'AM<$U-.D1E<FEV961&<F]M('-T4F5F.FEN<W1A;F-E240]
M(GAM<"YI:60Z,F)F8F0W-3 M8SDX,BTT8S=F+3DY-F8M,C V,F4W,&$Y-30S
M(B!S=%)E9CID;V-U;65N=$E$/2)X;7 N9&ED.C)B9F)D-S4P+6,Y.#(M-&,W
M9BTY.39F+3(P-C)E-S!A.34T,R(@<W12968Z;W)I9VEN86Q$;V-U;65N=$E$
M/2)U=6ED.F%D.3 V-S$X+3<Y-#(M8S(T,"TX,S,R+30S,35A930R,F-C82(@
M<W12968Z<F5N9&ET:6]N0VQA<W,](G!R;V]F.G!D9B(O/B \>&UP34TZ2&ES
M=&]R>3X@/')D9CI397$^(#QR9&8Z;&D@<W1%=G0Z86-T:6]N/2)S879E9"(@
M<W1%=G0Z:6YS=&%N8V5)1#TB>&UP+FEI9#HY-C(W93$P8BTP8F$R+30U-#,M
M83=C-RTP,&9E9C0V9F-B834B('-T179T.G=H96X](C(P,3<M,#4M,#)4,#DZ
M,C<Z,SDM,#<Z,# B('-T179T.G-O9G1W87)E06=E;G0](D%D;V)E($EL;'5S
M=')A=&]R($-#(#(P,3<@*$UA8VEN=&]S:"DB('-T179T.F-H86YG960](B\B
M+SX@/')D9CIL:2!S=$5V=#IA8W1I;VX](G-A=F5D(B!S=$5V=#II;G-T86YC
M94E$/2)X;7 N:6ED.F,V-&)B-S=F+3)C86$M-&-B-2TX8F0Y+6-A,#<U.#9C
M.6(S-"(@<W1%=G0Z=VAE;CTB,C Q."TP-2TR.50Q,3HT,3HP,RTP-SHP,"(@
M<W1%=G0Z<V]F='=A<F5!9V5N=#TB061O8F4@4&AO=&]S:&]P($-#(#(P,3@@
M*$UA8VEN=&]S:"DB('-T179T.F-H86YG960](B\B+SX@/"]R9&8Z4V5Q/B \
M+WAM<$U-.DAI<W1O<GD^(#PO<F1F.D1E<V-R:7!T:6]N/B \+W)D9CI21$8^
M(#PO>#IX;7!M971A/B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(#P_>'!A8VME
M="!E;F0](G<B/S[_[@ .061O8F4 9      !_]L A  &! 0$!00&!04&"08%
M!@D+" 8&" L,"@H+"@H,$ P,# P,#! ,# P,# P,# P,# P,# P,# P,# P,
M# P,# P, 0<'!PT,#1@0$!@4#@X.%!0.#@X.%!$,# P,#!$1# P,# P,$0P,
M# P,# P,# P,# P,# P,# P,# P,# P,# S_P  1" ,)!'$# 1$  A$! Q$!
M_]T ! "/_\0!H@    <! 0$! 0          ! 4# @8!  <("0H+ 0 " @,!
M 0$! 0         !  (#! 4&!P@)"@L0  (! P,"! (&!P,$ @8"<P$" Q$$
M  4A$C%!408382)Q@10RD:$'%;%"(\%2T>$S%F+P)'*"\25#-%.2HK)C<\(U
M1">3H[,V%U1D=,/2X@@F@PD*&!F$E$5&I+16TU4H&O+C\\34Y/1E=865I;7%
MU>7U9G:&EJ:VQM;F]C='5V=WAY>GM\?7Y_<X2%AH>(B8J+C(V.CX*3E)66EY
MB9FIN<G9Z?DJ.DI::GJ*FJJZRMKJ^A$  @(! @,%!00%!@0( P-M 0 "$0,$
M(1(Q0051$V$B!G&!D3*AL? 4P='A(T(54F)R\3,D-$."%I)3):)CLL('<](U
MXD2#%U23" D*&!DF-D4:)V1T53?RH[/#*"G3X_.$E*2TQ-3D]&5UA96EM<75
MY?5&5F9VAI:FML;6YO9'5V=WAY>GM\?7Y_<X2%AH>(B8J+C(V.CX.4E9:7F)
MF:FYR=GI^2HZ2EIJ>HJ:JKK*VNKZ_]H # ,!  (1 Q$ /P#I'Z3U+_EKF_Y&
M-_7)(=^D]2_Y:YO^1C?UQ5WZ3U+_ ):YO^1C?UQ5WZ3U+_EKF_Y&-_7%7?I/
M4O\ EKF_Y&-_7%7?I/4O^6N;_D8W]<5=^D]2_P"6N;_D8W]<5=^D]2_Y:YO^
M1C?UQ5WZ3U+_ ):YO^1C?UQ5WZ3U+_EKF_Y&-_7%7?I/4O\ EKF_Y&-_7%7?
MI/4O^6N;_D8W]<5=^D]2_P"6N;_D8W]<5=^D]2_Y:YO^1C?UQ5WZ3U+_ ):Y
MO^1C?UQ5WZ3U+_EKF_Y&-_7%7?I/4O\ EKF_Y&-_7%7?I/4O^6N;_D8W]<5=
M^D]2_P"6N;_D8W]<5=^D]2_Y:YO^1C?UQ5WZ3U+_ ):YO^1C?UQ5WZ3U+_EK
MF_Y&-_7%7?I/4O\ EKF_Y&-_7%7?I/4O^6N;_D8W]<5=^D]2_P"6N;_D8W]<
M5=^D]2_Y:YO^1C?UQ5WZ3U+_ ):YO^1C?UQ5WZ3U+_EKF_Y&-_7%7?I/4O\
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M5=^D]2_Y:YO^1C?UQ5WZ3U+_ ):YO^1C?UQ5WZ3U+_EKF_Y&-_7%7?I/4O\
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MEH>J:3)Z-]:RVX!*1NZD*W':JMT;.OQYHY-XFW$,2$'EK%V*NQ5V*NQ5L&C
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MJN221*\&*UZ\21^K 0$VWZ\_^_7_ .".#A'<MEWKS_[]?_@CCPCN6R[UY_\
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MTLP)&O[OZUX@MN?./EZVMKJYFN&$-E<BRN2(Y"5G*\@@ %6V_:7X<,=)DD0
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M+& W&H%=PV0U<3#%",OJ'$L>9*0><99[3S=K6L6Q_P!)T:WL;A/82B2)R?\
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M+;VRD%8(E8=&6- 1\B!CQ'O5=Z<7$KZ:<6-67B*$^)%-S@LJX(@)(50S?:(
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M=-JX9KX>864"$CS*8.Q5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*LIU?_ )0#0?\
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M2;3-6MKX LL3?O%'=&V891J</B8S'O91-&WH6O:&FN1VNJZ3<B.[B >VN%)
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MY/*LWK0[%78J[%78J[%78J[^&XQ5Z%^77G;67UBVTB_N3<6<P9(C+\3HP%5
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MT],4K_+_ ,8_\C%7)?2*4(BA/IRM,*Q@U+?LMXH/V5Q5T=ZZ>G2*(^DS,.2
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M92(GU:[D:.>X5J<GA/V.*URV.EAX0G+B]76/TP_KHXC=*VJ^8M9M/,L^FQF
MVL=@U^O*)B]5Y#TRWJ =5^UQR.+!"6,2WOCX/QLMFZ1NDZSJ>H^28=9C2(:E
M/9O<+'Q;TO40MMQKRH0O\V5Y<489S#^ 2X4@V+2^T\Y7E\OEU;6./U]5C>:_
M5@2(UB7XPNXH>89=\NGI!'COE#Z?\Y ER4_*6N^;]=CM;UI-,2QDD(G@ E%R
M(U-&XCD5KX5PZK#AQ7'U\7PX$1)*!N//7F"']*WQ2S;3M+OULFMJ.MS(K4(*
M'D5)I_DY9'18SPQ]7%.''Q?P+QG=DOG#6[O1_+L^I6:(]PC1+&DH)7]ZZKN
M5/[7CF'I,(R9!$\MV4S08WJ?YB:A#8Z$]K%";F^;CJ*NK,L1$PA*J P*L6Z<
MLS,>@B93NZC]'^EXV)GR3*]\R:U;:]KMCRMVM]*LC>0_NF#L6C+JC'U*?">I
MX_%_DY3#3P..$M[R2X/QLDR-GR06C_F#<ZD- 18XEGO[[ZEJ<=&^ %2RM'OM
MR'3ERRS+H1#CYU"/'! G=*NG^8/.&JZGJ<%C)ID,&GW9M0ER)?5<4Y57BWQ;
M>V">##",3+CN<>+TUPKQ$DLT%:"O7O\ /-:V-XJ[%78J[%78J[%78J[%78J[
M%78J[%78J[%78J[%78J[%78J[%78J[%78J__T9_DD.Q5V*NQ5V*NQ5V*NQ5V
M*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5!ZOI%AJ^G2Z??1^I;S#<C[2-V=#V9<L
MQ998Y"4>:"+>)^:/(>M^7BTTJBZT[E1+V+H >@D7JA_X7.ETVNAEV'IE_-<:
M4"&.9F,'8J[%78J[%7M?Y9>8;G5M":&[D]2ZL7$1<_::,BJ%O?[2U_R<YKM'
M3C'.QRDY..5AF&:]L=BKL5=BKL5=BJR6**:)X95#Q2*4D0]"K"A!^8P@D&PK
MY^\U^7YM"UN>Q<$PU]2U?^:)C\)^8^RV=7I<XRP$O]-_6<6<:*49DL78H=BK
ML593Y)II]OJWF1QOIMN8;0GO<7(X+^%<P-9ZS''_ #SZOZD&R&UECT.I:I#+
MZT5[<),=VE$KAB?$FN^9AQQ(H@5[F'$65)<V_G#3+DZ@/2\P:5;/<#45'P7$
M$759P/\ =@K\+Y@&)T\AP_W<Y</!_,E_0;+XAYL-S9-3L5=BKL5=BKL5=BKL
M5:#*:T(-.M,5;Q5V*NQ5V*NQ5V*NQ5V*LK\MF+1O+M]YEKSO'<Z=8(.D<DB<
MGD;_ &'V<P-1>3(,7\/]Y-MCL+8F,SVIO%78J[%78J[%78J[%78J[%78J[%6
M4V/G>:/3+:PET2TU".PC*I+,KLRJ3N33917,">B!D9"<H<7<V#)TID<TVF?X
M8UVZUG0[*UN-/GM+=;:R-6D6Y E;A<*61&]/X?A^SRS&$)#+ 1G*7%Q2]7]!
MF3L;# 9M6GX+;V@^J6L,DSVHC-)U2?8QO.O%Y5X_#\7^5FT$!S.Y_'\+5:!R
MQBT: 5/08JRSS<\UC8^6K$#@]K8I<M&V[+-*W)@W_ KMF!I )2R2_G2X?\V+
M;/:GJWE3S/9^8M*6[A(6Y2BWEM7>.3Y?R-^RV:+5:8X9T>7\+=&5ISF,R;Q5
MV*M8JOAAFF+B%#(T:F1P*;*HJ3OBJL3;6Y/!A<3 QR0S+M&O=E9&^UX8JHR2
MO*Q9SU);B-E!;<T'08JMQ5V*NQ5V*M8JB5M1&>5T3&J.@D@^S,485Y("*=/'
M%5K71552 >DJ<PLB[2,CGHY!WVVQ50Q5O%78J[%78JEGF;3[C4O+FIZ=;<?K
M%W;O##S/%>3#:I[9=I\@ADC(\HEC(6"QS1O*_F5]2L+S6%M;9-)L)+&SAMY#
M*TAD'VW8@!<S,VIQ\)C#B/B3XY<3$1-V4/Y.\K^8]!NX&?1=,YERMWJHN7-R
M8'?D1P X$J*!1_DY/5ZG'E!]<_Z./A]'$B,2.B)T32_/6BW-]%:V%A<V=[?2
M71FENF218Y')V0+U"GI_-D,V3!D ),Q*,>'Z4@2";^>=$OM:\OS:?8<#.\B,
MOJMP7BIWWWS'T6:./()2Y,IBPI>9M#U:ZO-+U321!)?Z89 +>X8I'(DJ@-\8
MK0BF2TV: $H3OAG_ #5(/,)-/Y"U'_"FF:.&BN)8M1^O:C5BB%)'Y2JAZGX=
MAF1'71\64]QZ."'^]8F&U*O^"-2/E:^\OUAC2.Z,^E7 (_>1A^:B8 55OV/]
M7CD?SD?%&3?Z?7_QU>':DU\KZ)JUK?ZKJ^K^BE]JLB,UO;,7CC6-0OVC2O*F
M4:G-"48PA?##^<F(._FEOFWRQYCUNZFMQ#I\MC*R&TU!^4=W:*M"0O'>4[>.
M7:74X\8!N?%_%#_)Y/\ B42B2J:EY>UVX\R2WL4$;VC:<VGK,\ZARQ#'U"E/
MLU:G'!CSXQCX2?5Q^)R31M5\G6OG32K33M)U"PL5TVSC,;W4=RTDQ%2P_=\0
MO4TP:N6&9E.)EQ2_AX?2L 1L5#RKY+OM(UW4+NX=&L@LD6DJK<BL<TAD?DO[
M'Q9+4ZR.2$0/J_RG^:B,:* \G^5?,N@75NYT33&E#%+C51=/]9]%C\0" <#0
M=!ENKU./*#ZY_P#"^'T<2(1(Z+7_ "^U1;R[U6.*WDU--5%Y8B1QPDM2 'CD
MJ"$:OQ+MB-=&A WP>'P2_KKP;WYLH\XZ3?:OY?ELK()]9>2"15D;BM(Y5=AR
MIX+MF%I,L<>02ER]7W,YBPQ>]_+S5&N=6FMO2*W-_:7%BK24XP1RB:>NWP-S
MZ+^UF;#7QJ(-^F$HR_K5PP8&'-,K[R]KUSY@\P7JVT2VVJV)LK9S.I8,L7!6
M=:;*Y_X'*89\<<<(V;QRXY>GS28FR@[7\O[ZVUCRUJD7I*]B83K$0?8F%:"2
M/;XVI\&62UT3#)$_Q7X?^<O!N%&W\I>9;#7K[5(-%TS4)I;IKBQO;FZ>.6%2
M*454%-^IY9.6JQ2QB)G. X>&48Q],D<)!NGH0K05^U3<>_?-0V-XI=BKL5=B
MKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5?__2G^20[%78
MJ[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78JMDCCDC:*1 \;@J
MZ,*JRGJ"#A!K<*\I\U_E7?17$MWH2K+:-\0LZTD3Q"UV9?#]K-[INTXD5DY_
MSFB6/N>>LI5BK JRDAE.Q!&Q!S;!J:PH=BKL59A^5NK/9>9TM:_N;]3$X_R@
M"R'[_A_V6:[M/%Q8KZP;<1W>UYS;D.Q5V*NQ5V*NQ5V*I;J_EW1-8,1U*T2Y
M,-1$S5! ;J*CY9=BU$\?TFK00#S2UORZ\F,K+^C47D".2LP(KW&_7+AK\W\Y
M' .YX[YF\OW.A:Q-8359%/*WE(V>,_9;_FK.ATV<98"0<:4:*59D,4X\N^6[
MG6'DE9Q:Z;:CE>W\GV(P-Z#^9SV7,;4:@8]OJF?I@SC&T1YAU^RFM(]%T:+T
M-%MWY\F_O;B6E/5D/_$5R&GP2!XYF\A_V']%,I=!R8_F8ULH\GCCH_F:9=I%
ML1&/]61B&_5F#J_KQC^DV0Y%BXS.:W8J[%78J[%78J[%60>5-*T^9;[5M50R
M:9I<8D>$'CZLK&D<5?!CUS#U660J$/KG_L8_SFR ',I@?-FBZXAL?,%C'9VZ
MM_H%Y8(%>U'3BR_[MC_FRK\K/%ZL9XC_ !QG_&GC!V*5ZUY1U'3H1>0,NH:4
M^\6H6WQ)3_+ J8V_ULOPZN,SPGT3_F28R@0D>93!V*NQ5V*NQ5F'EG3]!A\N
MW.J:]I[3P/=0V\,G)HV"/4.R$?:X?:S7:G)D.01QRH\)DVQ JRIS>4O+7K2>
MCYGM1$6/IAHW)"U^$$UWVPC59*WQR4P'>G/E[2;BUADL]*OK+S%I\TBMJ&EN
MO$\31?53F?M >&8^HRB1N8EAE_!/_>LHBN6[&O._EN30M;FC2(II\Q+V4@)9
M>'=>1_:0[4S,T6H\6 _G#ZF$XT6/YF-;L5=BKL5=BKL5=BKL5=BJ^W@FN)XH
M($,DTSK'$B]6=S15'S. FA:0F":?86<D;:K(S%)Y[:]TZW/&YB:)2%8LZM%Q
M,GAR^RV5\9/T^7J_A37>KI%K[Z0UY963VVG+!]4O+BV4JLZ!^9,Y_;^+CR;[
M/P)D#. GPD^KZDT:3&&-[;\K[T2H8Q>:G;FW#"G(1 ER*_/*";U0K^&$DUZ&
M*9GM;L57P.D<\4CIZB(ZLT9V#!2"5/\ K=,$A8(2&6^;&T_7=)/FNUC>VN#<
M+:7MN[^HHI&.#(:"B\13-?I1+%/PCZAP\46R5$6QW0]<U#1-1CO["3C*FSH=
MTD0]4<=P<R\V&.2/#)A&1!>_:#J\6L:/:ZE$AC6Y3D8R:E6Z$5^><KGQ'',Q
M/1R@;"/RI+1\?OQ5%FWCMG_TOXI(W7G:@T+(1R)YBH'ABJC+<22)'&=HX@PB
M4;$!C4@D?:^G%5/%78J[%78JUBJO!:O(%D8^E;E_3:X8'@K4KO2IQ5OUHHX^
M,2 NZ,DS2 ,*D[,FWP[8JHLS.W)V+-TJ34[;8JUBKL5=BKL5=BKL5=BKL5=B
MKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=B
MKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5?_].?Y)#L5=BKL5=B
MKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BK&]7_+WRIJDLT\U
MH8;F=B\EQ Y1BQ[T/)/^%S,Q:_+   [#O8& +Q_S7Y?ET#6Y]/9B\0H]M*10
MO$W0_/LV=#I=0,L!+K_$X\HT4HS(8NQ56L[N:RNX;N!N,UNZRQD>*FN1G 2!
M!ZI!I]&:=?PZAI]M?0?W5S&LJ ;TY#<?[$_#G'Y(&$C$_P +E@HG()=BKL5=
MBKL5=BKL5=BKSG\X=/OKFVTV>VMI)XX#-Z[QJ7X<@G'E3?>C9M^R<D09 FKK
M]+3E!8K;^2;2S2"Y\RZM;Z;#(BS&Q4E[QHV%0%4"BLP_FS/EK#*QCB9_TO\
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MKL5=BKL5=BKL5=BKL5=BKL5=BKL56N@=&0]&!!^D4P@J^<=6TZ?3-3N;"?\
MO+:0H3X@;AO]DOQ9V&+()Q$AU<,BC2$RQ#CBKW/\MM1CO?)]D%V>TY6TJ^ZD
MD'Z0V<OVACX<Q_I>IRH&PRC,)F[%78J[%78J[%78JD/GK4[K3?*E_=6K<)^(
MC1^Z^H>)(]Z9E:+&)Y0#R8R-!X%^/CG5N([%78J[%78J[%64VGF7R]-HEAI^
MM:;+>2:<)$@FCE]/X)&Y4-/?,"6GR"9E"0CQM@D*HN_2WY??]6*Y_P"DD_UP
M^%J/Y\?]*FX]RK=6_E2_\KZIJ&F:?+9W-@]LH:29I 1/)Q.U:=!D8RRQRQC*
M0D)\73^:IX2-F(YL&IV*N)IBK+]6#>7_ "9::.4*:CKE+W4@VS1PJ:11$=JT
MY9KL7[W,9_PXO1#^M_%)M.T:[V(9L6IV*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*LT
MT;47T;R&=4LX(/T@VH&$7$D:NX3C78GY9K<V/Q,_"2>'@;HFHVQ;5-4OM4O'
MO;Z02W,E.<@55K04&R@#,[%BC"/#'DU$VA,L0NCCDD=4C4LS$*H'B30# 2E-
M%TRST^X7],NQ>"Z>VO\ 2H3QNE5%)YK(RM#3G\'[3?Y.5\9D/3W>F7\*:KFA
MOTO=)##';!;0QP26LDL ,<D\4K<F$[#^\[+_ *JY+@'7?\?PK:"  Z9-B[%7
M8JKV-_>V%TEU93/;W"5XRH:&AZCY'(3A&8J0L)!IECJOG333+&J+YKL%K+&H
M"?78!^TH%!ZL?AF /\&E7^1E_P!*I?\ $MGU#^DPP@@E6!# T8'8@CJ",V+4
M["KL5=BJ^"WN+AV2WB:9T1I'5 6(1-V8@?LKW. D#FD!'F#3K$$S2K>78%O/
M;+ 5EMBKCG)'.U58.HXH43]KFK9"R?(;_P!9.P4YM:U%BR0S/:VOK23PV4#N
ML,32FK"-:FFU%Z\OAQ\*/465XBR.R-UYM\M2V#\[K7M'_?63&K2S6S&CQ^+%
M#NN8,ZP9.+Z<>3ZOZ,_YS,>H>82?_!?G#_JR7O\ R)?^F9/YS#_/C\V' >Y5
MMO*OGJUF$UMI6H02KTDCBD5A](R,M3@D*,H%/#()Q9?F-YQT6[^J:LAG],CU
M;>Y7A, =_M"AK_K<LQY]GX<@N&W]7Z60R$<WIFB^;M!U>R%S;W21D;2PS,$D
M0^# G\1FES:7)CE1#<) IP)K",\KJZBA5'198F=5FXN*\E1B"13*>"7<63OT
MYI\?%;:ZAC(#H91( [J^U&W(Z>&'PY=Q1;J4R"6P#VQ5V*NQ5V*NQ5M%9V '
M<@5/05VW.*H@F*V)4!99U]2.7D%>*AV#(?'_ "L50Q)/4DTVJ=\5=BKL5=BJ
M5^:(+"?R[J,.H.\=D\+">2-2SJOB% )-,OTTI#)$Q^JT2Y,.\L>8Q97EY$;B
MTU2UL]-,Z:M!&(W181^[@G(%.1.W'-AJ-/Q &I0,I\/AR_I?QP:XR0'DBYEL
M=<TJ2>TN+4:M;S1RSSIQCFE9S.C1FOQ;$)ENLB)0E1$O#(^G^'^!$#ND$]O?
M6^D3WB'EINHZL8+D=HY[6X#1-_LPS+F7&43,#^.&._\ -G'U,>GQ>F_F0W'R
M5J!K2BQ?\G$S2]G_ -]'XMN3D6"VT%ROF'28YMDTK58=-MZ_M*QEEK_P/IYL
MY$>'(C^/&<G^YBU]1[U;S7?S76NZWJMO:7%PNDS6L=O>PIR@B%HW.7U'K\/J
M<N.1TT!&$($@>()>G^*7']*9'<HOS1J-ZWF:^OM+2*<2:*)91("W[AV7FR ?
MM+6N5Z;''PA&5C][_LDR._P1/FBVLK;\J+".VE$\"267IW! J0\W(^--V*TR
M&FE(ZHWL?7_N5D/2F?G%X8]8\FKR2.ET[<:A: Q)O3*=("89?ZOZ64^881KM
MO?01^:M4MCSM9;RZL=0C[!7;E')_L7S9X91)QQ//AC.#4>1+TZ]AL9O)!BOF
M=+)]-B%P\8+.%])#50*DFN:2!D,]Q^KC/^Z;NC$_+VK 37FGI=6NJ6J:8S1Z
MK#&(I(T7989R*#EO]G,_48MA*I0/'_=_[^#")2^ROK.VTO\ +VZN9XXK:"ZE
M::9V 5 '>O(]NN73@92S #<Q'Z&(.P3?SGKMA!/IWFS2;F.[B@6XTZXE@<,H
M]5"T8)'<29CZ3#(B6*8X;X<F_P#192E6X07F*R.D>2?+43-'#,E[%-*\VT:R
M2([L7_R03OEFGGXF?(>8X3^A$A0",\TZQ;:A^7&K<KVQN[N+C]:;36)B4%O@
M^U\5:>.5Z;$8:B.TXQ_A\1,C<2C/(ZRR^8=9N;]DCU2..VMVM8@53T%C'IRB
MIJW,97K"!CB(_1ZI<7]+^:F/,I1YSEEM/.%YK$&\VBV5K>JOL)BC5_V+9D:0
M"6$0/+)*4/\ 8HD=[[EGE2U-C)YF6=@LTNAQ7-P6-/WEPLKGKX\L.JEQ#'7^
MJF/^DX4#:_<@9K!]5T;R596\P2XD@N?0D!^S*@1EK3_*&6"?!/+(C:XHJZ0L
MUY<W'E/S-<W:B*[.LZ=]95M@LJ JW+_9+7+! #+C ^GP\G"@G8^]Z1Y3UN&_
MADBDO].N[Y*,5TTDJ(J4',-\7*N:?583$V!.,?\ ;&Z)MD&8C)V*NQ5V*NQ5
MV*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5_]:?Y)#L5=BKL5=BKL5=
MBKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKPC\QO^4VU7_7C
M_P"3*9U/9_\ <1_'\3BY/J8WF8P=BK+ORW\V#1-7^JW3TTS4"J3$](Y>B2?+
M]E\U_:&E\2%CZX-N.5%[:10TSFG(=BKL5=BKL5=BKL58M^9O_*%7W^M%_P 2
MS.[._O@PR?2\-SIW%=BKL5=BKL5=BKL5=BJ?^5M7TR!+S2-80_HG5?36>X3^
M\A>,DQRCQ56/Q#,358I&IP^N'^R_G19P(Y%!>8- OM#U VEU1XV'.UNDWCFB
M/V70C;IURS!GCEC8_P Z/\U$HTEN7L63?E]9VEQKLDL\8N)K*WEN[*S;[,TT
M(Y -7LOV\PM?,B%#82/#*7\V,FS&-T@O]2O-3O9M0O9#+=7+<Y'/B>P\%7H!
MF5CQQA$1CR# FU#)H=BKL5=BKL5=BKL5=BKL5=BKL5=BK*3_ .2O7_MJ_P#&
MAS _Y%?\DVW^#XL;M;6ZO+J*TM(7N+N9@L-O$"TCL>@51N<S9$ 6>36!:+BL
M=/BBBFU"ZJES!.T45F5DGBN(V"QI<H]!&KFIV+-PR)D3R'^F_P!ZFN];<:O*
M\4D%K"EA:SQ0QW=M#5EE: ;2,7JW-FJ[<2J\L1#J?45M @4%,L8NQ5V*NQ5V
M*NQ54M;FXM;B.YMI&AN(6#Q2H:,K#N,C*(D*/(I!91YH>'5O+]CYD>WCM]1G
MG>VO3"*),RBHE*_LMM\68.F!QY#COBB!Q1_H_P!%LEN+8GFP:G;8JF2:4EHW
MJ:P6MQ!-"ESI@^"]>&5?4]2)7'#B%X_$Q_;3*C._I_TW\#*N]2FU2811V]H!
M;06YG6*:(&.XDBG>O"XD4_O:+1>/V<D(=3^/ZJ+0630[%56VNKJUE]:UF>"4
M @21L4:AZBHR,H"0HBT@HO\ Q%Y@_P"KG=?\CG_KE?Y?'_-C\D\1[U2W\PZ^
M;F$'4[H@R("#,_3D/?(RT^.CZ8_)(D;3WSQI5Q>>=+EBRVMI-)#!^D+CDELD
MGHJW%Y #0TWS'T,P,(ZG?T_Q?4RF/4QPW.EP6W"WMA<SW%K);WS7BJZ1RL^T
MMIQ(*E4 ^*3]KEF94B=S6_\ #_OV%A"74\]W.;B[E>YG8 --,QD<A1106:I^
M$"@R<10H;,2I>FG\H^[#:O5?)WYI:<MC;Z=KK/#<0J(UOZ<XW4;+ZE/B5@.^
M:+5]FRXC+'R_F.1#)WH'S%Y_N[WS7:6>F7131[>XB5GA-/7/(<F)Z\.RC+=/
MH1'$92'K(/\ F(E/>@]6S1-SL5=BJM!:M)QD=O1M2_IO<L"R*U.0! W.*N:Y
M(B]*%?25D"7%"2)2IJ&->GRQ51Q5V*NQ5V*NQ5WZCU&*J"V5BD3Q):PK#+_>
MQ+&@1_\ 64"C?[+)<<KNRJ]K>W;T^4,;>D:Q513P(Z%-OA_V./$>]5OU.S](
MP_5XO1+<S%Z:<"]:\BM./*N_+'C-W9M5\L,,R&.:-)8SU210ZFG2H8$8 2.2
MK3:VA;D8(BP<2!BBUY@4#UI]NG[7VL/$>]7+;6JH\:P1K'*294"*%<MU+ "C
M5[\L>(]ZN6TM%-5MXE/#TZB-0>'\FP^Q_D?9QXCWJT;.S, MS;Q&V%.,!C0Q
MBAJ*)3CU]L>.5W9M6I[#3[AP]Q:P3NHXJ\L2.P W !8$@81.0Y$A%+OJEIPD
M3T(O3F),R<%XN3U+BE'_ -E@XCWI5   %  4"@4; #I2GA@51%A8"-XA:P"*
M7>6,1(%?_66E&^G)<<KNRJS]%:5P$?U&V],$L(_0BXACL2%XTK[X^+/OE\RB
M@N&GZ>(3 +2 0$\C"(H_3+?S<*<>7O3'Q)7=F_>M*D]M;7"!+B&.= :A)45U
M!\:,", D1R-)4UTW34C>)+.W6*2GJ1K#&%:G3DH6C4]\/B2N[/S12H((%E,R
MQ()BH4RA5#E1T4M3EQ'89'B-4EI[6U<NSP1.TJ\)2R*Q=.O%B1\2_P"2V$2(
MZJT]E92<Q);0N)0JR\HT;FJ?9#5'Q!?V0WV<1.0ZE6H["PBX^E:P1\"63A$B
M\2VQ*T XD]Z83.1YDHIM[*R=9%>VA=9F#S*T:$.PZ,X(^)A_,V 3D.I6FH+&
MQMV+6UK# S"C-%&D9(\"5 QE.1YDE:5\BEV*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V
M*NQ5V*NQ5V*NQ5V*NQ5V*NQ5_]>?Y)#L5=BKL5=BKL5=BKL5=BKL5=BKL5=B
MKL5=BKL5=BKL5=BKL5=BKL5=BKL56R2)'&TDC!40%G8[  ;DG"!:OG_SEJ=K
MJ?F?4+ZT8M;3.OIL12H1%2M/<KG5Z3&88HQ/,.+,V4FS)8.Q5HT.QQ5Z9^5W
MFW6;F_71+N7ZQ:K"SPO)O(G"E%#=UW_:S2]I:6$8\8V-M^.9.SU#-(W.Q5V*
MNQ5V*NQ5#7^GV6H6KVE]"MQ;24+Q/NI(-1DX9)0-Q-%!#$_,7Y7:'?VR#2TC
MTRYC)(=%JC@]G%:]MCF?@[2G ^KUAA+&"\DU;2[K2M2N-/N@!/;MQ;CN#45!
M'L0<W^+()Q$AR+1(4:0F6,78J[%78J[%78J[%6:>2)?T[&GE75;9[O3:M+:7
M2DB2S8#?BU#\#?R'-;K1X7[V!X9_Q1_U1MAOL4+?>0YW,LN@7D6LV\9(:.)@
M+A*&GQ1GK\U_X')PUPY9 <9_V"#C[D=Y8T"Y\MWR:]KKQ64=M%*UO:/(/7ED
M9"$7TQ7X:GXLJU.<9H^'C]7%_%_#%E&/#N6$,YD=I& 5I&+E1T!8U('WYLP*
M:6L*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*KHH9I6*Q(TC*I=E0%B%45)H.PP$TEFT
MVFQVWY6@W<ZJ[WL5S:)%QF642*?@9T;]TRKNU?B7[++FN$[U6W\QM(]#&+O6
M"1);Z?$+&Q^L_6K:-26FB;B4 %P?WI 4_P V9PAU/J-?CTM=I=U)/<]3EC%V
M*NQ5V*NQ5V*NQ5V*NQ5E\MG=7'Y;6C6\+RK!?2O,4!;BO$CDU.@S7"8&I-GG
M%MKTL>L-(FN5@N9W%GIDT_U5M2E5S#')P+\6X!G^R/V5S-E.MAO+^:P 7+J%
MK:P*EE /7EMY+:_EN DRL6DJ)+<%083P51R^W]KXOBQX23OW^G_CRW7) R22
M2-SE=I'( +N2S4 H-SOL!3)@,5N%78J[%78JKV5C>7UP+:SA>XN&5F6*,58A
M!R8T]E&1E( 64@6C+>'2[<PM)-]<GN(H)K5K=BJP3&4<H[A9$_>? .D?_!Y"
M1D0>G/\ $4BDX_,Z[GF\Y:B&;A$YBD,"?#$&]%14(/A!IF-V>/W(^/WLLG-B
MF9S6[%78J[%47I$,\VJV<5N"TSS1B,#K7D,KRD"!)Y4RCS?2&<<Y;L55EAB6
M(23-LZMZ00J2'78!P?LKBJR>=YI"Y 0&G[M!Q04%-E&V*K,5=BKL5=BJYH95
MY<D8<*!Z@[%NE?GBKC#*I(9&!4\6!!V)['WQ5WI25IP:O+CT/VO#YXJX12&E
M$;<E1L=V';YXJX1R&E$8\J@4!W(ZTQ5PCD/&B,>0)6@.X'6F*M".0@44[@L-
MCN!U/RQ5WIR4KQ/V>70_9\?EBKC'(*U1MAR.QV4]_EBK9CD%:HPX@$U!V!Z5
M^>*N,4@K5&'$@-L=B>E?GBKC#,*@HU0W ['9C^S\\5;]&:M.#5+< *'[7A\\
M5:$,QI1&/(E5H#NPZ@>^*N$,IXT1CRJ%H#O3K3Y8JX12GC1&/($K0'<#J1\L
M5<(I30A&/)>8V.ZCO\L5=Z4M*\&IQYUH?L^/RQ5HQR"M58<0"VQV!Z$XJV8Y
M!6J,.-.50=J]*_/%7&*05JC#B0IV.Q/08J[TI!4<&V;B=C]KP^>*N]*2M.#5
M)XC8_:\/GBKA'(:41CR)"T!W(Z@8JX1R&E%8\J\: [TZT^6*N$<AI1&-02-C
MN!U.*M".0THC;KR&QW7Q^6*M^E)0G@U O(FA^SX_+%7&&50Q*, H#-4'8'H3
M\\5<T,J\N2,.%.=013ETK\\5<8916J,.)"M4'8GH#[XJYHI5!+(P"MP8D$4;
MP/OBJW%78J[%78J[%78J[%78J[%78J[%78J[%78J_P#_T)_DD.Q5V*NQ5V*N
MQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5C7YBZD+#RE>D&
MCW(%M'\Y.O\ P@;,W08^+*/+U,)F@\)SJ'%=BKL5=BJ>>1]0-AYKTZ>M%:40
MO\I?@W^1:N8NMQ\6*0\F<#1>_P"<HY3L5=BKL5=BKL5=BKL52?6O*?E_6F+Z
MA:+)-3B)U)20 =/B7K3_ "LR,.JR8_I.S$Q!YO-+W\H?,\4KBT>WN8JDQGU/
M3-*[ \P-Z9N8=JXB-^*+2<18IJ^C:EH]\UEJ,)AN% :E0RLI[JPV89GXLT<D
M>*)V8&)'-!9:Q=BKL5=BK35H:=>V*LX\WZWJFC1:7H.G73VL$.GP27*P_ 6D
MF'(U<?%MT^UFKTF&.0RR2'$>,U_FMTY$4 PR"YN()A-!*\4RFHD1BK ^-1OF
MRE$$41LU M33332-+-(TLK;L[DLQ/N3OA$0!04K,*'8J[%78J[%78J[%78J[
M%78JZA() )IUH*T^>*IL^D6^F7+)K;E;BUN4BN])B-)WB*\F>.8!H5I]C?XO
MBRKC,AZ>H^IE5<V],U*5K_3;2!1;1+*UN\L-8YIH;EP'CGD4@R+Q^"GV>.1R
MQJ,CUK_91_FIB=PF'Y@ZC<MYBO='0K#I6E3-;V-G$.$:(@%#Q'5O\K*-!C'A
MB?\ 'D'%*2<AWIC&9S6[%78J[%78J[%78J[%78JB-/T^\U"[2TLX_5N) [(E
M0M1&I=MV(&RJ<C*0B+*0+3C1=>B\NRQW-C,U[-+"CM&&DACAF$GQQRH05N!Z
M:\?Y?CY?LYCYL'BBI"OQ_L6494F.OZ3#YB%UYC\O/ZO,^MJ>C@*DUN]*,\<:
M *\6W["Y3AS'$1CR?YF3^&?_ !YE*-[AAP((J.AS8-3L5=BKL5:) %3TQ5,W
MTI;$,VJ-Z-PJ6UQ;6!!)N8)ZL2)$Y+%\ !^/^;*N._I\_5_-957-2N]3>1/J
MULGU>PCFEFM8?A:1!+0<6F"J\E%51\7_  .&,.IYJ2A(6"31N>B.K&G@"#DC
MN$!Z3-8^2?-$E]YAN)+ZTM8E43W+\4B+HH4)'4$L^W09IXSS80,8X9'^;_$W
M$1EN\[O39&[E-BLB6G+]R)2&?CXL0 *G-O#BKU?4TFNBADT.Q5&Z3H>KZO-Z
M6FVDERP^TR#X%_UG/PC*LN:&,7(\+(1)Y/4/)/Y;7&C:@FIZE/'+.B$0P1 D
M(S"G(L>I J/AS2:SM 9(\,1LW0QT] AAFGD]*%#)(02$7<T J<U3:K"2"!08
MB)9F$<D<PJIB<&I%"/B/OBJ@[O([.YY.Q+,QZDGKBK6*NQ5V*NQ57A*10O*2
MC.U8Q"ZM6C _O%(H/AQ58UU=/SY3.WJ%3)5B>13[)/CQ[8JVUY=L6+3.2[B1
MB6.[KT8_Y0\<5=]<NZ@^L]1)ZP/(_P!Y_/\ ZW^5BKEO+M2I69P4<RI1CL[=
M6'^4?'%7)=W2<.$SKZ99HZ,1Q+?:(\.7?%7)=W2<.$SKZ098Z,1Q5_M > ;O
MBK2W5RH4+*X"(8E 8[1MU4?Y)\,5=]:N:$>J]#'Z)'(_W?\ )_J_Y.*N:ZN6
MY<I7(=!$]6.Z+T4_Y(\,5;>[NGY\YG;U JR58GD$^R#X\>V*N:[NGY\IG;U&
M5Y*L3R9/LD^)7MBKC=W1+$S.2[B5B6.\@Z.?\H?S8J[ZY=@@^L]0_J@\C_>?
MS_ZW^5BKEN[I2A69P8W,B48CB[=6'@Q\<5<MW=)PX3.OIEC'1B.)?[1'AR[X
MJY;JZ3AQE=?35DCHQ'%6^T!X!N^*M+=7*A0LK@(AB0!CM&>J#_)/\N*N^LW-
M./JO0IZ1'(_W?\G^K_DXJYKJY;F&E=A(@CD!8_$B_94^*CPQ5M[NZ?GSF=O5
M"B2K$\@GV:^/'MBKFN[I^?*9V]1E>2K$\F7[)/B5[8JXWEV2Q,SDLXE:K'>0
M='/^4/YL5<+R[!#"9ZA_5!Y&OJ']O_6_RL5<MW=H4*S.IC8R1D,1Q=OM,/ G
MQQ5R7=T@3A*Z^GR,=&(XE_M4\.7?%7+=W2\>,SC@K(E&(HK?: \ W?%6A=W2
MA0)7 6,Q+1CM&>J#_)_R<5<;JY*\3*_'@(J<C]@=%_U?;%7-=7+!PTKL)%"2
M L?B5?LJ?$#%7-=W3\^<SMZG'U*L3RX_9KX\>V*MM=W3<BTSL78.]6.[+T8^
MXQ5:]S<2!U>5V61_4D#,2&?IR/BV*K,5=BKL5=BKL5=BKL5=BKL5=BKL5=BK
ML5=BK__1G^20[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%7
M8J[%78JUBKS+\W_,$#B#08J/*CK<W3_R$*0B?,ABS?['-UV5@(O(?ZL6G++H
M\RS=M#L5=BKL5<"RD,I((W!&Q!P*]O\ R\\W'7M,,-TP_2=F L_C(G19?X/_
M )6<UK]+X4K'T2_'"Y4)6&69@,W8J[%78J[%78J[%78J[%4E\U^6+3S#I3VD
MH"7*5:TN*;QR=M_Y&Z,,R=+J3BG8Y?Q,91L/!+RSNK*[FM+J,Q7,#%)8SU##
M_/;.JA,2 (Y%Q2*4<DAV*NQ5=&RK+&S@E%92P'4@&II7 >20RKS_  Q7MU#Y
MGLYA-IFK'TX$(*O"\*@-$P/\OB,P- 3$'$1Z\?\ LN+^)LR=[$\V#4[%78J[
M%78J[%78J[%78J[%52WMY[FXBMK>-IKB=ECAA0<G=V-%50.I). D 64HV/3;
M* 1OJEPT:2?6(WMK:C74,T( 3U4D'%4=SX\N*OE9D3]([OZJ:[UDFL3>@T%G
M$FGPSVL=KJ$4!)6Y]-BWJ2\ZGF[;MPX_9PB'?ZM_3_11:  IL.F6(1NB_P#'
M9T__ )B8O^)C*LWT2_JEE'FF?Y@(Z^>-<+*5#7DA4D$5&VX\<IT!_<0_JIR?
M44@S+8.Q5V*NQ5V*NQ5V*N )K0$TW--]ABJ8OIL%DC/J$@%RJVUQ;624D2XB
ME8,ZM-&W[DB/M]O]GX6ROC)Y<M_\UE2E?ZI+<PFSB06^E+<275IIX/-86EH"
M!(P]1_A 7XVPQA6_\5?4I*$".WV5)^0)R5H16F7VJ:7?Q7]@SP7<)JD@!Z=U
M8?M*>ZY7DA"<3&6X*189*[^4/,<G*XA?R[J\A^*:%&DLY7/=D^U&2?Y<PP,V
M'D?&A_TLC_Q3/:7D6-ZQI5UI.I3Z?=<3/;MQ8H:J:@,"/FI&9F+*,D1(<BUD
M4:0>6H1UEI9E07-W)]6TZ.>."[G'%Y8_4J>2P%EDDHJL?A_X+*Y3Z#<_C^)D
M J1ZO]0"#2D%O<JES;7-_P#::Z@G( #1R!EB^ 4^#XOBP<'%]7EZ?YJW7)+%
M  H-@.V6L5RJS,$4%G8A54;DD[ # 2EEL?E'1M(D67S3J<2/$OJ3:+;<GN6)
MW6,N/@2O[>8!U4\@K%'_ )*2^C^LV< ',I1YA\RW6L/'$(UL]+MOALM.AVCC
M7Q/\TA[N<OP:88]_JF?JFQE*THS)8.Q5HXJ^DM*BBATNTBAC6*/T8CP0!14H
M"30=\XW(29$GO<T(V*!Y Y!51&O-N1"U ('PU^T=^F054FG108;:OH*Y>.5@
M%F-10AF7M_DXJH8J[%78J[%78JJ6\#S2<44N%!>0+2H1=V._@,5;N9_5D 5W
M:&,<+<24Y+&#4 T^>*J6*NQ5*/-UW=6?E75[NTD,-U;VLDD$R_:1P-F%<R-+
M 2RQ!W!DQF=BKZ%=/-H%A=7<A=WMDEN)FZGX:LQR&:-9"!_.2.3%?)?F'6KO
M6I!J4[R6FJ1276FQ/3C&L4S)P3;NGQYG:S!",/2/5 \,_P#2L(DVCO-^IZ@F
MMZ1HUM?OI=O>1SW%Y?PJK2K' !LO($>YVRO28X\$IF/&8\,8P_K)D=Z2R\\Q
M:HOD^RN[764OISJ<-L^HVJM'ZD+%O@<.!\7&G/;+H:>/C$&/". RX)?SF)EL
M-T9)J>JRZSYLM?KLT<%C;126:QL%,3>DKDJ:?M-]K*QCB(8S0N4CQ?TMV5[E
M)]1O/,:?EO8>98M>O8[ST \\?)"LKR2$<F)6J\0**JYD8X8SJ3C,(\-_Z5A9
MX;M.=;;7=-T*QTZUU>XNM7U2XC2*^E""9%9>;\>(IQ7IT_:S'P\$YF1C&,(#
MZ?X61L!+-6\TZE+Y6\LW:ZC+ITEW=FVU6ZC(#CTT8/RJ#O5>9VR[%IHC+D'"
M)\,>+'%!EL%"X\RZ^OE37KBVU*:Y@L[Q(=*UDJ$EFB-.78!OGQR4=/C\6 ,0
M#*/[S'_-DO$:*;>5]?N?K^JJ=4DUC1+*V6==0N% *S 5:/D%7D*91J< X8^G
MP\DI</!'^;_.91/R:\@:YKES>SVNLW#S/>VL>IV DI\$<CLIB6@&R  XZ[#
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M=R_I?\4IQGHE=KIA*-<WC_5[2">&*[6J_60LV_..!BKR47?^7^9LR#/H.?\
ML6("_P#2OU0"/3 8)(_K$37ZEEFG@FJO&1>3(O[L\:)_PV/!?U>7I6^Y+:9-
MBWA5FOE[5[_2?(=_>6#K%<B^1.;(C_"R"HHX89K-1BCDSB,N7"VQ-10/_*R?
M./\ RV1_](\'_-&6_P G8>[_ &4F/B2=_P K*\X_\MD?_2/!_P T8_R=A[O]
ME)?$DE"0ZCK.HK-/*HDO92C7MPPBA]2G*C2-1%V&9(X81H?P_P *-R6EFTJW
M@7A%]<GGMI(KI;A2JP3EQQD@*/\ O/@'^[!^U]C#4B>[==D->WMY?7+7-Y,U
MQ<,%5I9#5B% 5:GV44R48@"@@FU')(3WR_Y7CU:PN[Z;4(;"WLW5)&F!I\8V
M-1]V8F?4G'(1$3,R9QC8M.-+LO+7ERY.LR:O;ZI/:*6L[*W!):<[(S5_93[6
M8^6>7,. 1,!+ZI2_FLP -[8;<7$]S<2W-PYDGG8R2N>I9C4YL8Q %#D&HE9D
MD.Q5V*M,0!OMBE].Z; D%A9R72GDL-NPM6#*9(VC!J&'V1G&S^H^\N8NEGDD
M5$8GTXZB)#N%!-:#[\@JS%78J[%78J[%78JKOPCME0>G(\M)#(.7./MZ9K0>
M^*J&*NQ5V*H'6]-&J:->Z89/2%Y"T)EIRX\N]*BN6X<G!,2_FE!%BDEL_*_F
M*"PDT^77O5LVM7M8HOJJ)PY#B&Y!N3<5KM7,F>IQF7$(>KBXOJ8B)[U/3_R\
MTS3+S3+S3Y7AN+':X9B[B=2O%AQ9J1U_R<.37RF)"0L2_P!BH@ F/F#RX^IW
M=C?VMXUAJ6G\Q;W"HL@XO]I61MCE.#4< ,2.*$TF-I?!Y M8_+LVC/=N_.Z^
MNQ704*Z35J#3H=R<MEKB<@G7\/!P_P!%'!M2O9^4;BWMM4:34#<ZGJJB.>]E
MB% BKQ $:,O[/^5D9ZH$Q]-0Q_PI$5.7R7)-Y(3RM)>CC&JQQW:Q4/!6+ %.
M9JV_7E_L<D-96?Q:_P VT</II$ZUY0M-9O;"6^E9[.QB:,6J\D+NP Y^HK*R
M_9&V5X=4<<2(_5+^))C:7Q?EY#%':V\=X?J=GJ1U&"!H^=%9.#0EBWQ5_GRX
MZ\DDUZI0\/\ X\C@7S>0P^AZCHL5\8["\N?K-JACY&W!;DR#XAR4G_5P1UM3
MC.O5&/#+^FO!M2K=>2V=-9AM+WZK:ZRBB6 1\@CC9W7XE_O%K5<C'6?22.(X
MUX>;M/\ (>FZ7K-CJ6F2/;FVC>*YB8O*)U< =78^GN*_"...36RG QEO?T_T
M5$ "C]<T74K^6*6QU673V1&C= BRQ.K=2T;4'+_*RK#FC$5*(FDA+%\CM ="
M6RO5BBT*3UH5DB,ADD8DL6(=**:] ,N_.WQ\0_O?/]B.#EY-6OD_6[&_OKC3
MM<^K07]S]:FMS:I)OL*<F:OV=L,M7"40)0XC&/#]2\)OFBK+R=;6OFNY\P"8
MLTZD);\:!'< ._*N_*A_9_:RN>K,L0QUR2([VAI_)^KKK6I:IIFLBR.I.LDD
M;6L<W$JH449V]NPRR.KAP1C*/%P?TN%CP&]BOU7R.FJ7LMW=W9>26Q%F2(P"
M) RN)QOM\2_8_P"&P8M9P1H#^/C_ ..),+3U+2?]%?4YY_6G: PR7/&G(E>/
M,K4_/[68IF./B VOZ63&K;\NK:$61^MEI+/3'TSGZ=.3."JS4Y;<5:G#_ALS
M):\F]OJGXG_'6 A]R)'D^Y2;0'BOD"Z!$(XE:$GU#Q56+$2"E0HI_+D/S8(G
M8_O?/]B>'EY(2]_+BSN]"OM,ENCZMS>RWUO=>F.4+3$DIQY?$*&AW7+(=H&,
MQ(#E$0X?YW"@PVI$7OD_4FUN35=.U864DMO!;.C6R3[0($!^-MJTKTR$-7'@
MX)1XMS+ZN'ZDF)NPR.RBN8K6*.YG^LW"*!)/Q"<V\>(V7,.9!)(%!D%?(I=B
MKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BKL5=BK__TY_DD.Q5V*NQ
M5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5(_.'EO_$.
MBO8+*L,P=989&%5#K44--Z&N9.DU'A3XJMC*-AXAK6@ZMHEU]6U* PN?[N3K
M&X\4<;-G38<\,@N)<:42.:7Y<Q=BKL5=BKTC\F]-L9I=1OIH5DN[5HEMI6W*
M!U?EQ'2IIUS3=KY)#AB#Z96W8@]3S1M[L5=BKL5=BKL5=BKL5=BKL5=4CIUQ
M5XS^:?E^STS68KJS3THM05I)(QL@E4_%Q':M0:9T?9F<S@0?X''RQHL*S9-3
ML5=BJZ&::"5)H)&BFC/*.5"592.X(P$ BCR2"RO7O2\QZ(/,L*JFJ6G"#785
M%.9/PQW*_P"O]E\P,%X9^$?HEZL7_$-DO4+8EFP:G8J[%78J[%7'H30D 5-!
M6@Q5-)='CTV61-8D].ZMI;<OI<9Y23V\P#NT<Z%HH^,=/M?%\?\ DY4,G%]/
M(WZO^.LJKFIOK,T:K%IR_4HH99GMYHZK=<)P%,<LZD&10@XTI^T_\V'P[Y[_
M .Y_TJWW)<!EC%O%78J[%78J[%6U9E8,I(8&JD;$$=",!"LUO],'G*&VU/3+
MBW_3GI"+4M.D<1R221_")8Z[-S7]G-;#)^7)C('P[]$_]ZW$<6XYL?TSRSJ-
MUYFM] NH7M+N24)<1R#BT<?5F/MQ&S9EY-3&.(Y >(=&L1-TRFQ\Q6M_YU>P
MC;T=&DMY='T^,"B*A'%33QD==\P9Z<QP<7/)8RS;1*Y>3%M9UCS+*GZ'U6\F
MFBL)"@MY""%=*KUIR;_9',[#BQCUP ]342>10=CIMS>20A.,,$TPM_KL]8[9
M)&%0))J%4V^+_5RV4P/QZD 6C]-UL:&PGTEW.H2P2P7<DM/3CD+D)+;\".15
M.)4RKQY_LY7DPC)M(>G\?4R$JY)_>#_E8"I>QRHGG&%!'=6TK<1>QQBB21,=
MA(JBA3,.).E-'?"?IE_J7];^BR/K_K,.6POVNY+-;:5KR(D2VX0F12-C51OF
MP\2-<5CA:Z*(N] UVRMOK5YI\]O;<N!FD0JH8]!7(PSXY&A($I,2$!EK%E-I
M_P"2WO\ _MH1_P#$!F#/_&8_U"VCZ6-VMK=7<XM[2%[B<@L(8E+N0HY,>*U-
M%45.9ID ++6!:+^JZ;;6W.YG^LSW%M'/9+:,KI'*SCE%=\J%65.553]OCD+)
M.W?_ !?[Q-!3O]4N;QY11;:UEF-P+"WY);)(1QY)$2P4\?AK]K#& 'O_ )W\
M2";0>30[%6F95%6( \3MBK+[*VDT[\O=2EO:0?IB2']&Q,?WDJQ,"SA>O#_*
MS7SEQZB(COX=\?\ 1;0*B6(YL&IV*NQ5V*MHC.ZJO5B!4]!4TW/; 4IH[0:-
M(T:HEQJD37%M>+($N+/@ZA%:%E(+2+5SS^ROP,F5[S_J_P"R3R][W^P+'3[/
MD2Q%O"*DU-!&N<E/ZC[RY:OD%=BKL5=BKL5=BJO;144W,@D6",T66, TFIRC
M!KVVQ51EEDEE:64\I)"6=O%CU.V*M8J[%78J[%78J[%78J[%78J[%78J[%78
MJ[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78
MJ[%78J[%78J[%78J[%78J[%78J__U)_DD.Q5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ
M5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*H>_T^QU&T>SOH$N;9Q1HW%1\Q_*
M?<9.&24#<3101;R;6/REUV&_D72RES8GXH7D<*X!_9:O4K_-^UF^Q=J0,?5M
M)I.(]$GU7\O_ #1IED]Y<VP,$?\ >&-@Y4>) WIF1BUV*<N$'=B<9#'<S&MV
M*O2_R78<]63N1$WT#D/XYI>V/X?BWX>KU#-(W.Q5V*NQ5V*NQ5V*NQ5V*NQ5
MV*I-YG\K:;YAL1;78*RQU:VN%^U&Q&_S4T^)<R--J98I6/C%C*(+Q+S%Y:U3
M0+TVU\GPM_<W"U].1?%3X^*_LYTNGU$<L;BXTHD)5F0Q=BKL53KRIK4&F:@Z
M7B>IIE]&;6_C'7TW_;'^4G49C:K"9QV^N/J@SA*D8_D34#KKZ?$X:SXB:._Z
MHT#_ &&%.K'^7*)=H0CCXC]7T\']-/AFZ9&?*ODO38U2^96E8?;N):,?DM13
MZ,UGYW4Y#<>7]$-O!$<U"_\ (FBWUL9]&E$<AW2C^I"Q\._'Z,GB[3R0E607
M_L9(.,'DP-[*[2]^HF)OK?J"$0@58R,>*J!XL3\.;V,P8\0/I:*1J:7:VKHV
MKS-$JSS6UW8P_P"]L31)4,R2+P"%R%^UR^WD>,GZ?^.)KO4OTO<1P&&S1;)9
M;8VEZ8:UN8V<L3-RKN?A7X>/V%P^&"=]]^+^JMH"F6,6\5=BKL5=BKL5=BKL
M5=BK7<$;,.C T(^1&!64P?F'K,=B(9(+>>^CA:VM]5D0FZCA<<64,#\7P]VS
M"EH(&5@D1OB\/^#B;/$+';*WO9[F.*RCDFNR>44<0+2$K\50%W)VKF9(BM^3
M ,M\]P:;Z]IJ=R6:^U?2X;M!;, BW50K&8,OV60?93_@LP=$2 8CZ83,?\QL
MG7-B]_JEQ>23D*EK;7$@F:PMAZ=L'50@98A\(-!US-C"JZG^=_$UDH3)H;1Y
M(W62-BDB'DCJ:,I'0@CI@(M643?F5YHDM?322."\*JDNIPH$NG5>@9Q^.8([
M.Q WSC_,_@;/$*CHWG?5;>^_W+W$NIZ7<KZ&H6EPQ<-"W4K7[+I]I3DLVC@8
M^@<$Q]$H_P Y8Y#U0?FK0?T)K$EK&_JV<BK/8S_SP2#DGT@;-ENES^)"_P"+
MZ9?UD3C13^UTY[7\NKUM15H!]?M9A;-5)98944AHS0KNAY MF-*5Z@5_,DR
MJ.[&;C52H%OIR_5;:">:6TG%%O/3F^'TY9T"M(H3;C]G[69HAU._^X_TK"TN
M  'AEC%O%5\,32S1Q*0&D944L:"K&@J<!-"TAE<?D">PD-SYCN8K+3H:-+Z;
MAY9.XCC4?M-XYKSKA(5C'%(_Z5L\.N:F?.>DV<A_0WEVRM^)_=W%R#/-0=">
M1X_ADOR<Y?7.1_J^F*\8'()%K&M:GK-Z;S49O6GXA%H B(HZ*B+\*CY9E8<,
M<<>&(V:S(GF@LM0[%78JC=/TQ[DQSSN;33#,+>?4G1WAB=E+J&X DDA?LK\6
M0E.MAO+^:D!<VIF&U-K8*UHEQ +?5"'+K=<9.88JW]VNR_ F#@LV=_YO]%-I
M>0 *#8#H,L0^E;#_ (Y]I_Q@B_Y-KG&S^H^\N8KY!78J[%78J[%7*O)@M0*F
ME3T'SQ56NBJL(E5!Z0X.\;$K(P)^/?%5'%78J[%78J[%78J[%78J[%78J[%7
M8J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%7
M8J[%78J[%78J[%78J[%78J[%78J[%78J_P#_U9_DD.Q5V*NQ5V*NQ5V*NQ5V
M*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*M8JPCSS^74.KH;
M[2E2#4T!YP@!$G'7MLLG^5^UFST6O./TSWA_N6N>._>\@N;:YM9WM[J)X)XS
MQDBD!5@?D<Z",A(6#8<<A':#YAU30KT7>GR<6.TD3;QR+_*X_CE6?3QRBI)C
M(A[AY9\SZ=KVEQWD+I%,?AN+5W >.0=1O3DO\K9S.ITTL4J/^F<F,K#!O-'G
M?6='\^.ID+:=:^FK6@V5HW4,Q]W^*JMFTTVBADP?TI?Q-<ID2>EV=Y:WMK'=
M6LJS6\JAD=2#L17?P/MFEG Q-'FW*^15V*NQ5V*NQ5V*NQ5V*NQ5":II5AJM
MD]E?PB:WDZJ>H/9E/56'CEF/+*$N*)HH(MXOYR\AZAY>D-Q%6ZTES1+D#XHR
M>BR@=/9OLMG1Z/71RBCZ9_CZ7'G"F+YG-;L5=BKU'RQ?S1^3(KF5C+]5BE,8
M/94)XC[\YG6XQ+4</\XARH'TIG^3/Y3:9^8%CJ'F'S'=7#IZY@AB@8(2Z@,S
ML[!MARXJBYGZW5G3U#& UPAQ;E2UOR+-^7_GCZC'<RRZ#J*TL'($C&0@4CFX
MT]-E^*DE/C7*,V:.HPD_Y2#(1X3Y,4_,26:UNUBA95AU)$EN%XJ6,EL]$8.1
MS3[7[#?%^UE_9)XH&_X#_NV.7FPLDDDDU)W)/4YMFEV%78J[%78J[%78J[%7
M8JTS*H))V&YQ5E*>2[&"&W?5]>M-/FN8EG2U8.T@1Q52U!3<9@G62)/!"4P#
M7$V< ZEJ3ROY8 !7S;8C>A,@=1]]#B-3E_U.2\,>]%ZK^6UQINE3:H-1M[Z*
MW2WG-K;B1I98;AJ*Z4!XJ5!/-LCBUXE+A,3 G^<DXZW0UEH>MZJ)HM)LSIND
M0SO<0W5X5CEC#J%"/=%8VDV'V0./[7')Y-1#']1XY?S8?\0@1)Y+_P PHTAD
MT6U$T<SVU@D4K0L'7DIH=QD- ;XS5<4TY.C$\V#4[%78J[%4;8Z5)<Q+=SO]
M6TI;B.UNKX@N(FE!8$QK^\?X58_"N5RG1H?4R 9%I_Y@SZ;I\.FBT@U2*V]>
M'UKU1,KQNU(VB1EY0@)V)9O]3,2>B$I&0)@3_,9C)0I.?+'F:'7H]0TW5M+M
M5TF"V-RR6T9BX^G0#>O6GV?LYBZG3G%PRA*7&9</J91E>QY,7\P^7+"UL5UC
M1[Y;_2)IC"-BLL3TY!) <S<&HE*7!,<,Z_TS"4=K#'\S&MV*N(J*8JSC2-1T
MKS==VVEZOIY_2)A,<>JP2$.?1C)!D0_"=ES5Y<<\ ,X2]-_W<OZ3<");%A#J
M%=E!Y!20&Z5H:5S9@M36%#L5=UZ;GL,51\-C;Q6RW5^S"&X29;9+=HVE6>+9
M?6C8AHXR_?[7'[&5F1)H,J4;V^ENYFD*1P(P2L$"\(@44("$J?B-*LW\V2C&
MD$VALDAH],4OI6P_XY]I_P 8(O\ DVN<;/ZC[RYBOD%=BKL5=BKL51*<[6'U
M?CCFF6D0*@HT+ JYJ??;IBJ%Q5O%78J[%78J[%78J[%78J[%78J[%78J[%78
MJ[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78J[%78
MJ[%78J[%78J[%78J[%78J[%78J__UI_DD.Q5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ
M5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5K%6#_F9Y.U'7!:WNF1K
M+=VRM'-&6"L\9-5XUZLK5ZYL^SM7'%<9?3)JR0OD\?DCDBD:.12DB$JZ'8A@
M:$'.A!L6T+!LP<;,.C#8_>,*KWDDD;E([.W\SDL=MAN:G !2LH_+OS38^7=3
MN9;\R_4[F((5B'.CAN0;A4#Z<P=?II9H@1KBB6>.5/8=$UW3=;LOKNG2-);\
MBA+*4(8=00<Y[-AECEPRYN0""F&5)=BKL5=BKL5=BKL5=BKL56R1QRQO%*@D
MBD!62-A564]00<()&X5Y-YX_+.2P$FI:(C2V0^*:S'Q/%XE/YH_^&7-]H^T1
M+TS^K^=_.:)X^H>?C-LTNQ5Z!^7FJV\]C+I$]#)&6>.-NCQ-]I?]C_QMF@[5
MPF,QD'+_ 'SD8I;4GS^:/S1\N7S?X4^KPZ1P$<&G0Q(T*TZLT;E3ZO\ E\\C
M@GIIQ_>$^)_%*29<0Y*>AMYOGN;_ %'S+>?6)M0997ADHQ5TV5A3X8^*_!Q3
M]G*M;FQ2 CC'T_Q)@#U87^8=Q/)YC:WD0HMK$BQCKR#CGR'LV;7LO&(XK_G%
MJRG=C.;%J=BKL5=BKL5=BKL5=BK@"2% )8]%&Y.!6:Z7/IND^18=3N-%M=1O
M9-1EMF^MAP5545A]DCIX'-;E$LF<Q$Y0CP"7I;0:C=))J%WJWF6ZDUB]*164
M#P6L]Q&%$-JDA*QJ(P0[ !6;X/Y<R\6..(<,>>\OZ[$DRW4DU&VTQU_1:A[V
M(W,,VH2 213P2@1KPMY 1$0G/XOM_'_D9/@,N?+;T_S?\Y%UR0^DZUJVD77U
MO3;N2VN>'IF16J2G\IK7;'+AAD%2'$%$B.2KJWF7S#K""/5=1FO(E/)8Y&^
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M*U_$JNC*K,%)3DSB4!F^RP7,K'K,6>7AF//Z4&!CO:&O;Z/4_+TNI:7-+!+
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MXU71M2DTS1O*NF6[75R$_25XR_9$DX(4<CL J?#_ )6:S%FB)2RR/"/[N/\
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M-#)]0W#*,B$T_P"5D>8OY+7_ )$)F/\ R?C_ *7^F9^*5Z?F9Y@44,%F_NT
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MF0;)[@%B>;!J=BKL5=BKL5=BKL5=BKL5=BKL571QR2RI%&I>21@J*HJ22:
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M'0?+-ZXS>*HK3;6ZN+AFM?3,MG&;QEED6-2L!#$ L1R8_P B_&W[.0F0!O\
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M)$A%*^G)R7BW+:E,U66?AY.*$@>,CC@W 6*+#-.LFOKM+83PVY8,WJW+^G$
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MNQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*H'6M8LM&TR?4;Q@L,*U"]W?\
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M_3,<>]@H35?,WE^+1[G0O+M@Z6%T8WFU"X9O7E:/HWI]%RS%ILAF,F0^J/\
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M+=\F_<QQ#DS['J.V8^IRQQPLCB_AX?YW$SB"2K^==:L=8U^2\LJM#Z<<?KN
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M7"#P5@%K]['-=E].I@?YT3%M'TEA^;%J=BKL51>CZ=/J>K6>GPCE)<S(E/\
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MB-T7RUHUOJ]I>_I_39].CD#LD\ABF9!V:)AL?FV5YM1,P,>"8E_1^G_3)C$
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MEV+M'QI\$HCAF@XZ%AC45Q^G_)4DER!ZQB?DU-O4BK1Q\Z5S#E#P-2!'E?\
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MK4*;FWE@#U"&5&2I'6G(#,V,XGD;:R%#)H=BKL5=BKL5;1G1U=&*.A#(ZFC
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M)5/TEJ7_ "US?\C&_KD?"CW!/$62>8KFYN?(WER6XE>:4R78,CDLU%DH-SX
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M5=BKL5=BKL5=BKL5=BKL571RR12++$[1RH>2.I(8$=P1TP$ BBEF/G"XEO\
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M_$LZ32:R.8=TOYKC3@0DMA#;3WL$-U/]6MY'59;BG+@I-"U/;,F9(B2!Q%B
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<*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5V*NQ5__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
