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FR - First Majestic Silver - WKN A0LHKJ
- Ersteller Ollinho
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- Tagged users Kein(e)
October 07, 2011 15:54 ET
First Majestic Silver Corp.: Third Quarter Production Results to Be Released on October 12, 2011-Conference Call Scheduled
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2011) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce that its 2011 third quarter production results will be released on Wednesday, October 12, 2011, prior to market open.
Furthermore, the Company will be holding a conference call and webcast on Wednesday, October 12, 2011 at 8 am PST (11 am EST).
To participate in the conference call, please dial the following:
Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791
Participants should dial in 10 minutes prior to the conference.
Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call will be posted at www.firstmajestic.com.
The conference call will be recorded and you can listen to an archive of the conference by calling:
Canada & USA Toll Free: 1-800-319-6413
Outside Canada & USA: 1-604-638-9010
Pin Code: 3928 followed by the # sign
The replay will be available approximately one hour after the conference and will available for 30 days following the conference. The replay will also be available on the Company's website for one month.
First Majestic Silver Corp.: Third Quarter Production Results to Be Released on October 12, 2011-Conference Call Scheduled
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2011) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce that its 2011 third quarter production results will be released on Wednesday, October 12, 2011, prior to market open.
Furthermore, the Company will be holding a conference call and webcast on Wednesday, October 12, 2011 at 8 am PST (11 am EST).
To participate in the conference call, please dial the following:
Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791
Participants should dial in 10 minutes prior to the conference.
Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call will be posted at www.firstmajestic.com.
The conference call will be recorded and you can listen to an archive of the conference by calling:
Canada & USA Toll Free: 1-800-319-6413
Outside Canada & USA: 1-604-638-9010
Pin Code: 3928 followed by the # sign
The replay will be available approximately one hour after the conference and will available for 30 days following the conference. The replay will also be available on the Company's website for one month.
October 12, 2011 08:00 ET
First Majestic Announces Q3 Production Results and Commences Commercial Production at La Parrilla
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2011) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV)(WKN:A0LHKJ) is pleased to announce that total production at its three mines in Mexico for the third quarter ending September 30, 2011 reached 1,791,770 equivalent ounces of silver.
The total equivalent silver production for the quarter consisted of 1,708,865 ounces of silver, representing a small decrease of 4% from the prior quarter and a decrease of 6% compared to the same quarter in 2010. In addition, 1,891,991 pounds of lead was produced representing a 36% increase from the previous quarter and an increase of 52% compared to the same quarter in the previous year. Also, 409 ounces of gold was produced, representing an increase of 21% compared to the previous quarter and an increase of 27% compared to the third quarter of 2010.
As announced on September 20, 2011, the new 1,000 tpd La Parrilla flotation circuit began operations in early September. The Company is pleased to announce that this new circuit has been deemed commercial effective October 1, 2011. Incremental production, revenues and operating costs associated with this new flotation circuit was capitalized in the quarter ended September 30, 2011. Effective October 1, 2011, all revenues and costs will be treated as normal course operations and recorded in the Company's income statement rather than being capitalized as pre-production, or pre-operating. For the third quarter, ending September 30, 2011 pre-commercial production was 34,316 ounces of silver contained in lead concentrates produced at the new La Parrilla flotation circuit.
Keith Neumeyer, President & CEO of First Majestic states; "Our focus in the third quarter paid off with the completion of the new flotation circuit at La Parrilla. With two major construction projects underway our operations staff deserve to be commended by coming close to budget this quarter. The way is now paved for a record fourth quarter and a great start to 2012."
Production Details Table:
.
.
.
http://www.marketwire.com/press-release/first-majestic-announces-q3-production-results-commences-commercial-production-la-parrilla-tsx-fr-1571865.htm
First Majestic Announces Q3 Production Results and Commences Commercial Production at La Parrilla
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2011) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV)(WKN:A0LHKJ) is pleased to announce that total production at its three mines in Mexico for the third quarter ending September 30, 2011 reached 1,791,770 equivalent ounces of silver.
The total equivalent silver production for the quarter consisted of 1,708,865 ounces of silver, representing a small decrease of 4% from the prior quarter and a decrease of 6% compared to the same quarter in 2010. In addition, 1,891,991 pounds of lead was produced representing a 36% increase from the previous quarter and an increase of 52% compared to the same quarter in the previous year. Also, 409 ounces of gold was produced, representing an increase of 21% compared to the previous quarter and an increase of 27% compared to the third quarter of 2010.
As announced on September 20, 2011, the new 1,000 tpd La Parrilla flotation circuit began operations in early September. The Company is pleased to announce that this new circuit has been deemed commercial effective October 1, 2011. Incremental production, revenues and operating costs associated with this new flotation circuit was capitalized in the quarter ended September 30, 2011. Effective October 1, 2011, all revenues and costs will be treated as normal course operations and recorded in the Company's income statement rather than being capitalized as pre-production, or pre-operating. For the third quarter, ending September 30, 2011 pre-commercial production was 34,316 ounces of silver contained in lead concentrates produced at the new La Parrilla flotation circuit.
Keith Neumeyer, President & CEO of First Majestic states; "Our focus in the third quarter paid off with the completion of the new flotation circuit at La Parrilla. With two major construction projects underway our operations staff deserve to be commended by coming close to budget this quarter. The way is now paved for a record fourth quarter and a great start to 2012."
Production Details Table:
.
.
.
http://www.marketwire.com/press-release/first-majestic-announces-q3-production-results-commences-commercial-production-la-parrilla-tsx-fr-1571865.htm
First Majestic Silver Corp.: Third Quarter Financial Results to be Released on November 9th
FIRST MAJESTIC SILVER CORP. (NYSE: AG) (TSX: FR) (the "Company" or “First Majestic”) is pleased to announce that its unaudited 2011 third quarter financial results will be released on Wednesday, November 9, 2011, prior to market open.
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer, President & CEO
FIRST MAJESTIC SILVER CORP. (NYSE: AG) (TSX: FR) (the "Company" or “First Majestic”) is pleased to announce that its unaudited 2011 third quarter financial results will be released on Wednesday, November 9, 2011, prior to market open.
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer, President & CEO
November 09, 2011 08:00 ET
First Majestic Silver Corp.: Earnings Hit $27.8 Million in Third Quarter
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2011) - First Majestic Silver Corp. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce the unaudited condensed consolidated interim financial results for the Company for the third quarter ending September 30, 2011. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in US dollars unless otherwise indicated. All Cash Costs information is now being presented on a payable ounces basis consistent with the recommendations of the Silver Institute. All prior period information has been restated or reclassified for comparative purposes unless otherwise noted.
2011 THIRD QUARTER HIGHLIGHTS
Cash Flow per share (non-IFRS) of $0.38 representing a 122% increase from Q3 2010
Earnings per share (basic) amounted to $0.27 representing a 146% increase from Q3 2010
Adjusted earnings per share (non-IFRS) amounted to $0.30
Gross Revenue of $61.4 million showing an 88% increase from Q3 2010
Net Earnings after Taxes amounted to $27.8 million, a 176% increase from Q3 2010
Mine Operating Earnings of $42.5 million showing an increase of 168% from Q3 2010
Total Cash Cost was US$8.39 per ounce, up 19% compared to Q3 2010
Silver ounces produced decreased by 6% to 1,708,865 compared to 1,823,370 ounces in Q3 2010
Fully un-hedged to silver prices as treasury exceeds $106 million
http://www.marketwire.com/press-release/first-majestic-silver-corp-earnings-hit-278-million-in-third-quarter-tsx-fr-1584381.htm
First Majestic Silver Corp.: Earnings Hit $27.8 Million in Third Quarter
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2011) - First Majestic Silver Corp. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce the unaudited condensed consolidated interim financial results for the Company for the third quarter ending September 30, 2011. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in US dollars unless otherwise indicated. All Cash Costs information is now being presented on a payable ounces basis consistent with the recommendations of the Silver Institute. All prior period information has been restated or reclassified for comparative purposes unless otherwise noted.
2011 THIRD QUARTER HIGHLIGHTS
Cash Flow per share (non-IFRS) of $0.38 representing a 122% increase from Q3 2010
Earnings per share (basic) amounted to $0.27 representing a 146% increase from Q3 2010
Adjusted earnings per share (non-IFRS) amounted to $0.30
Gross Revenue of $61.4 million showing an 88% increase from Q3 2010
Net Earnings after Taxes amounted to $27.8 million, a 176% increase from Q3 2010
Mine Operating Earnings of $42.5 million showing an increase of 168% from Q3 2010
Total Cash Cost was US$8.39 per ounce, up 19% compared to Q3 2010
Silver ounces produced decreased by 6% to 1,708,865 compared to 1,823,370 ounces in Q3 2010
Fully un-hedged to silver prices as treasury exceeds $106 million
http://www.marketwire.com/press-release/first-majestic-silver-corp-earnings-hit-278-million-in-third-quarter-tsx-fr-1584381.htm
January 04, 2012 10:09 ET
First Majestic Appoints Chief Information Officer
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 4, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) is pleased to announce the appointment of Mr. Martin Palacios to the position of Chief Information Officer ("CIO").
Mr. Palacios will be responsible for upgrading information technology infrastructure and for implementing new technology processes to assist with the Company's long-term aggressive growth objective of becoming a senior silver producer.
Mr. Palacios brings over 20 years of information technology experience to First Majestic, including over three years with Goldcorp, a senior gold producer, where he held the position of Director of Global Applications and IT (Mexico Region). During his tenure at Goldcorp, he created and implemented the global applications framework for most of Goldcorp's sites, standardized and automated consolidation process. Mr. Palacios was also responsible for prototyping Goldcorp's business intelligence strategy which allows for management at Goldcorp to monitor consolidated operations on a continuous basis with operational dashboards. In addition to his experience with Goldcorp, Mr. Palacios has also consulted for Gemcom Software (a mining solution vendor), provided advisory services to the Jimmy Pattison Group across their portfolio of companies, led the western region IT effectiveness practice for KPMG, he was previously the CIO of Pivotal Corporation and Vice President of Information Technology for Seagate Software.
"I am delighted to be joining the First Majestic team at such an exciting time of expansion and growth," Mr. Palacios said. "As CIO, my goal will be to continue to implement and integrate new financial and operational infrastructure, create a showcase platform for reporting business intelligence and provide effective, scalable, and leading edge solutions to support First Majestic's world-class operations and rapid future growth plans."
Keith Neumeyer, President & CEO of First Majestic states, "Martin's wealth of experience and knowledge, his Mexican heritage and Canadian citizenship and his leadership and vision will add significant value to our expansion efforts in Mexico. It's a very good time in First Majestic's growth cycle to create this new role within our organization and to have someone of Martin's calibre to fill this position. I'm confident that he'll bring forward numerous ideas and solutions to make all our current and future operations more efficient by using all the latest operational and reporting technologies and associated IT infrastructures. We are very fortunate to have him join our management team and we look forward to his strategic IT direction, solutions and support."
First Majestic Appoints Chief Information Officer
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 4, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) is pleased to announce the appointment of Mr. Martin Palacios to the position of Chief Information Officer ("CIO").
Mr. Palacios will be responsible for upgrading information technology infrastructure and for implementing new technology processes to assist with the Company's long-term aggressive growth objective of becoming a senior silver producer.
Mr. Palacios brings over 20 years of information technology experience to First Majestic, including over three years with Goldcorp, a senior gold producer, where he held the position of Director of Global Applications and IT (Mexico Region). During his tenure at Goldcorp, he created and implemented the global applications framework for most of Goldcorp's sites, standardized and automated consolidation process. Mr. Palacios was also responsible for prototyping Goldcorp's business intelligence strategy which allows for management at Goldcorp to monitor consolidated operations on a continuous basis with operational dashboards. In addition to his experience with Goldcorp, Mr. Palacios has also consulted for Gemcom Software (a mining solution vendor), provided advisory services to the Jimmy Pattison Group across their portfolio of companies, led the western region IT effectiveness practice for KPMG, he was previously the CIO of Pivotal Corporation and Vice President of Information Technology for Seagate Software.
"I am delighted to be joining the First Majestic team at such an exciting time of expansion and growth," Mr. Palacios said. "As CIO, my goal will be to continue to implement and integrate new financial and operational infrastructure, create a showcase platform for reporting business intelligence and provide effective, scalable, and leading edge solutions to support First Majestic's world-class operations and rapid future growth plans."
Keith Neumeyer, President & CEO of First Majestic states, "Martin's wealth of experience and knowledge, his Mexican heritage and Canadian citizenship and his leadership and vision will add significant value to our expansion efforts in Mexico. It's a very good time in First Majestic's growth cycle to create this new role within our organization and to have someone of Martin's calibre to fill this position. I'm confident that he'll bring forward numerous ideas and solutions to make all our current and future operations more efficient by using all the latest operational and reporting technologies and associated IT infrastructures. We are very fortunate to have him join our management team and we look forward to his strategic IT direction, solutions and support."
January 12, 2012 08:00 ET
First Majestic Silver Corp. Achieved Record Production of 1.96M Silver Ounces (2.1M Silver Eqv. Ounces) in Q4; Produced a Record 7.6M Silver Eqv. Ounces in 2011
http://www.marketwire.com/press-rel...m-silver-ounces-21m-silver-tsx-fr-1605984.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) is pleased to announce the Company's fourth quarter and full year 2011 production results.
Highlights
•Total production increased by 17% to a new quarterly record of 2,101,528 silver equivalent ounces
•Total silver production increased by 15% to a new quarterly record of 1,957,657 ounces
•Silver production amounted to 93% of total production in the fourth quarter
•Total processed ore in the quarter increased by 7% to a record 565,003 tonnes
First Majestic Silver Corp. Achieved Record Production of 1.96M Silver Ounces (2.1M Silver Eqv. Ounces) in Q4; Produced a Record 7.6M Silver Eqv. Ounces in 2011
http://www.marketwire.com/press-rel...m-silver-ounces-21m-silver-tsx-fr-1605984.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) is pleased to announce the Company's fourth quarter and full year 2011 production results.
Highlights
•Total production increased by 17% to a new quarterly record of 2,101,528 silver equivalent ounces
•Total silver production increased by 15% to a new quarterly record of 1,957,657 ounces
•Silver production amounted to 93% of total production in the fourth quarter
•Total processed ore in the quarter increased by 7% to a record 565,003 tonnes
First Majestic Silver mines record 7.6m silver equivalent ounces in 2011
First Majestic Silver has forecast 8.9 million to 9.4 million ounces of silver equivalent production this year.
Author: Dorothy Kosich
Posted: Friday , 13 Jan 2012
RELATED STORIES
Robust Silver prices kick up First Majestic Q1 profit
First Majestic Silver a prime takeover target - CEO
RENO -
First Majestic Silver reported an 8% increase in total equivalent ounces of silver production in 2011 from 7, 024,056 silver equivalent ounces in 2010 to 7,562,493 silver equivalent ounces last year, which fell slightly short of the Nov. 9, 2011, guidance of 7.6 million silver equivalent ounces.
In a news release Thursday, First Majestic provided 2012 production guidance in a range from 8.9 million to 9.4 million ounces of equivalent silver or 8.3 million to 8.7 million ounces of pure silver.
Last year the company reported production of 7,216,109 ounces of pure silver, 7,888,943 pounds of lead (a 23% increase from 2010), and 1,537 ounces of gold, representing a 29% decrease from 2010.
For the fourth-quarter 2011, First Majestic set a new quarterly record of 2,101,528 silver equivalent ounces, a 17% increase over the 1,791,770 silver equivalent ounces reported during the third quarter of 2010. Total silver production increased by 15% during the fourth quarter of 2011 to a new quarterly record of 1,957,657 pure silver ounces, compared to 1,708,865 silver ounces reported during the same period of 2010.
The company also reported an 81% increase in lead production in the fourth-quarter 2011 from 1,891,991 pounds in the fourth quarter of 2010 to 3,416,908 pounds. First Majestic also reported 152,664 pounds of zinc production, 4,695 tonnes of iron ore production, and 440 ounces of gold during the fourth-quarter 2011.
Keith Neumeyer, First Majestic CEO, said, "The year 2011 marks the eighth year in a row that First Majestic has achieved record production of silver. Not only is this a great achievement, but our growth is not slowing down. There appears to be no end in sight to our growth in silver production."
The company plans to construct and develop the Del Toro silver mine and the La Luz silver project over the next three years to add to its current portfolio of three operating silver mines, La Encantada, La Parrilla and San Martin. Del Toro is expected to become First Majestic's largest mining operation by 2014 and is projected to mine over 6 million ounces of silver annually.
The 2012 exploration budget is being expanded from $9 million and 56,713 meters of drilling in 2011 to $16.6 million and 96,739 meters of drilling over the company's five projects this year. The company has 19 drill rigs operating and is expected to have 27 drill rigs operating by March 2012.
First Majestic also plans to release new, updated NI 43-101 Technical Reports on each of the company's projects in 2012.
In preparation for expanded production planned for 2012, 2012 and 2014, First Majestic's underground development budget is being increased from $30.9 million in 2011 to $32.5 million in 2012.
>>> http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=143111&sn=Detail&pid=102055
First Majestic Silver has forecast 8.9 million to 9.4 million ounces of silver equivalent production this year.
Author: Dorothy Kosich
Posted: Friday , 13 Jan 2012
RELATED STORIES
Robust Silver prices kick up First Majestic Q1 profit
First Majestic Silver a prime takeover target - CEO
RENO -
First Majestic Silver reported an 8% increase in total equivalent ounces of silver production in 2011 from 7, 024,056 silver equivalent ounces in 2010 to 7,562,493 silver equivalent ounces last year, which fell slightly short of the Nov. 9, 2011, guidance of 7.6 million silver equivalent ounces.
In a news release Thursday, First Majestic provided 2012 production guidance in a range from 8.9 million to 9.4 million ounces of equivalent silver or 8.3 million to 8.7 million ounces of pure silver.
Last year the company reported production of 7,216,109 ounces of pure silver, 7,888,943 pounds of lead (a 23% increase from 2010), and 1,537 ounces of gold, representing a 29% decrease from 2010.
For the fourth-quarter 2011, First Majestic set a new quarterly record of 2,101,528 silver equivalent ounces, a 17% increase over the 1,791,770 silver equivalent ounces reported during the third quarter of 2010. Total silver production increased by 15% during the fourth quarter of 2011 to a new quarterly record of 1,957,657 pure silver ounces, compared to 1,708,865 silver ounces reported during the same period of 2010.
The company also reported an 81% increase in lead production in the fourth-quarter 2011 from 1,891,991 pounds in the fourth quarter of 2010 to 3,416,908 pounds. First Majestic also reported 152,664 pounds of zinc production, 4,695 tonnes of iron ore production, and 440 ounces of gold during the fourth-quarter 2011.
Keith Neumeyer, First Majestic CEO, said, "The year 2011 marks the eighth year in a row that First Majestic has achieved record production of silver. Not only is this a great achievement, but our growth is not slowing down. There appears to be no end in sight to our growth in silver production."
The company plans to construct and develop the Del Toro silver mine and the La Luz silver project over the next three years to add to its current portfolio of three operating silver mines, La Encantada, La Parrilla and San Martin. Del Toro is expected to become First Majestic's largest mining operation by 2014 and is projected to mine over 6 million ounces of silver annually.
The 2012 exploration budget is being expanded from $9 million and 56,713 meters of drilling in 2011 to $16.6 million and 96,739 meters of drilling over the company's five projects this year. The company has 19 drill rigs operating and is expected to have 27 drill rigs operating by March 2012.
First Majestic also plans to release new, updated NI 43-101 Technical Reports on each of the company's projects in 2012.
In preparation for expanded production planned for 2012, 2012 and 2014, First Majestic's underground development budget is being increased from $30.9 million in 2011 to $32.5 million in 2012.
>>> http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=143111&sn=Detail&pid=102055
First Majestic Silver Corp.-La Parrilla Mill Expansion to 2,000 tpd Completed: Del Toro Construction Update <AG.N>
VANCOUVER, BRITISH COLUMBIA, Jan 24 (MARKET WIRE) --
FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the
"Company" or "First Majestic") is proud to announce that the new La
Parrilla flotation/cyanidation plant was inaugurated in a ceremony at the
La Parrilla Silver Mine in the State of Durango, Mexico on January 19,
2012, in which approximately 150 people attended including several
Mexican Federal, State and Municipal authorities. The Federal Government
was represented by the Lic. Jimena Valverde Valdez, General Coordinator
of Mining for the Secretary of the Economy while the State of Durango was
represented by Ing. Hector Vela Valenzuela, Secretary General of the
Governor of Durango, both of whom declared the new plant as officially
open.
The new La Parrilla dual processing plant has a total capacity of 2,000
tpd (1,000 tpd in the flotation circuit and 1,000 tpd in the cyanidation
circuit) and is anticipated to be operating at full capacity in February
2012. Currently the mill is operating at 1,500 tpd (1,000 in flotation
and 500 tpd in cyanidation).
The final components of the plant to be installed are the tailings
filters, which will allow for the recirculation and recovery of 80% of
the water used in the process. These filters are expected to be fully
operational by the end February 2012. Also the dust collection system and
new induction furnaces are expected to be fully operational by the end of
January 2012.
As previously announced in September 2011, the flotation circuit has been
operating since September 1, 2011, and reached commercial production of
1,000 tpd on October 1, 2011. The new 1,000 tpd cyanidation circuit was
slightly delayed due to the late delivery of components and delays by the
Mexican power authorities in hooking up the new 115,000 Kilovolt power
line which was eventually connected on January 18, 2012. Once completed,
annual production is estimated to be approximately 3.0 million ounces of
pure silver, 6.0 million pounds of lead and 4.3 million pounds of zinc.
The total investment to the end of 2011 was US$35.0 million inclusive of
mine development. The remaining balance of the US$40.5 million budget is
being expended in 2012.
This major expansion project was planned not to disrupt silver production
during construction. Both circuits for flotation and cyanidation
continued to operate during the entire construction process and will
continue to operate while the final systems are installed for the new
cyanidation circuit.
With this major construction project coming to an end, management can now
focus on the many additional objectives planned for 2012 at the La
Parrilla complex. The Company has budgeted US$20 million for the
construction of a new 2,000 tpd shaft at Rosarios, near the mill, and the
construction of an underground rail system that will connect the
Rosarios, San Marcos, Vacas and Quebradillas mines. Upon completion, all
underground mining areas will be connected by a new ore haulage level via
an underground train system. The consolidation of the underground
operations will significantly improve operating efficiencies and should
have a positive impact overall on total cash costs.
In addition, the Company's exploration budget is US$6.3 million at La
Parrilla which will include 25,000 metres of drilling. Included in this
drilling program will be prospective areas defined by geophysics and
geochemistry over the past year but have never been drilled before. In
addition, a very aggressive development program consisting of 20,000
metres, including the new haulage level, is expected to be completed at
La Parrilla in 2012. An updated NI 43-101 technical report is also
expected to be released by the end of 2012.
Keith Neumeyer, President & CEO stated; "We are very pleased with the
completion of this major new expansion at La Parrilla. Our Mexican
construction team should be recognized for their hard work and tireless
efforts and should be congratulated for completing the construction while
keeping the older mill operating."
Prior to the Inaugural Opening Ceremony, the Company hosted a visit of
four mining analysts at the La Encantada Silver Mine and the Del Toro
Silver Mine. At Del Toro, the analysts witnessed the major earth moving
project underway in advance of foundation laying, and they also visited
the new underground discovery called San Nicolas which was discovered in
November 2011, during the construction of a development ramp to access
the Persaverancia mine.
The Preliminary Economic Assessment (PEA), planned to be released prior
to the end of the first quarter, will include a new Reserve and Resource
estimate and plans to construct a 4,000 tpd dual circuit mill rather than
the previously planned 2,000 tpd mill. The PEA will outline a phased
construction project whereby the new dual purpose mill will reach 1,000
tpd (500 tpd in flotation and 500 tpd in cyanidation) in the fourth
quarter of 2012, 2,000 tpd by the end of 2013, and 4,000 tpd (2,000 tpd
in flotation and 2,000 tpd in cyanidation) by the end of 2014. Full
financial and production details will be contained in the PEA.
First Majestic is a producing silver company focused on silver production
in Mexico and is aggressively pursuing its business plan of becoming a
senior silver producer through the development of its existing mineral
property assets and the pursuit through acquisition of additional mineral
assets which contribute to the Company achieving its aggressive corporate
growth objectives.
FOR FURTHER INFORMATION visit our website at www.firstmajestic.com.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
VANCOUVER, BRITISH COLUMBIA, Jan 24 (MARKET WIRE) --
FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the
"Company" or "First Majestic") is proud to announce that the new La
Parrilla flotation/cyanidation plant was inaugurated in a ceremony at the
La Parrilla Silver Mine in the State of Durango, Mexico on January 19,
2012, in which approximately 150 people attended including several
Mexican Federal, State and Municipal authorities. The Federal Government
was represented by the Lic. Jimena Valverde Valdez, General Coordinator
of Mining for the Secretary of the Economy while the State of Durango was
represented by Ing. Hector Vela Valenzuela, Secretary General of the
Governor of Durango, both of whom declared the new plant as officially
open.
The new La Parrilla dual processing plant has a total capacity of 2,000
tpd (1,000 tpd in the flotation circuit and 1,000 tpd in the cyanidation
circuit) and is anticipated to be operating at full capacity in February
2012. Currently the mill is operating at 1,500 tpd (1,000 in flotation
and 500 tpd in cyanidation).
The final components of the plant to be installed are the tailings
filters, which will allow for the recirculation and recovery of 80% of
the water used in the process. These filters are expected to be fully
operational by the end February 2012. Also the dust collection system and
new induction furnaces are expected to be fully operational by the end of
January 2012.
As previously announced in September 2011, the flotation circuit has been
operating since September 1, 2011, and reached commercial production of
1,000 tpd on October 1, 2011. The new 1,000 tpd cyanidation circuit was
slightly delayed due to the late delivery of components and delays by the
Mexican power authorities in hooking up the new 115,000 Kilovolt power
line which was eventually connected on January 18, 2012. Once completed,
annual production is estimated to be approximately 3.0 million ounces of
pure silver, 6.0 million pounds of lead and 4.3 million pounds of zinc.
The total investment to the end of 2011 was US$35.0 million inclusive of
mine development. The remaining balance of the US$40.5 million budget is
being expended in 2012.
This major expansion project was planned not to disrupt silver production
during construction. Both circuits for flotation and cyanidation
continued to operate during the entire construction process and will
continue to operate while the final systems are installed for the new
cyanidation circuit.
With this major construction project coming to an end, management can now
focus on the many additional objectives planned for 2012 at the La
Parrilla complex. The Company has budgeted US$20 million for the
construction of a new 2,000 tpd shaft at Rosarios, near the mill, and the
construction of an underground rail system that will connect the
Rosarios, San Marcos, Vacas and Quebradillas mines. Upon completion, all
underground mining areas will be connected by a new ore haulage level via
an underground train system. The consolidation of the underground
operations will significantly improve operating efficiencies and should
have a positive impact overall on total cash costs.
In addition, the Company's exploration budget is US$6.3 million at La
Parrilla which will include 25,000 metres of drilling. Included in this
drilling program will be prospective areas defined by geophysics and
geochemistry over the past year but have never been drilled before. In
addition, a very aggressive development program consisting of 20,000
metres, including the new haulage level, is expected to be completed at
La Parrilla in 2012. An updated NI 43-101 technical report is also
expected to be released by the end of 2012.
Keith Neumeyer, President & CEO stated; "We are very pleased with the
completion of this major new expansion at La Parrilla. Our Mexican
construction team should be recognized for their hard work and tireless
efforts and should be congratulated for completing the construction while
keeping the older mill operating."
Prior to the Inaugural Opening Ceremony, the Company hosted a visit of
four mining analysts at the La Encantada Silver Mine and the Del Toro
Silver Mine. At Del Toro, the analysts witnessed the major earth moving
project underway in advance of foundation laying, and they also visited
the new underground discovery called San Nicolas which was discovered in
November 2011, during the construction of a development ramp to access
the Persaverancia mine.
The Preliminary Economic Assessment (PEA), planned to be released prior
to the end of the first quarter, will include a new Reserve and Resource
estimate and plans to construct a 4,000 tpd dual circuit mill rather than
the previously planned 2,000 tpd mill. The PEA will outline a phased
construction project whereby the new dual purpose mill will reach 1,000
tpd (500 tpd in flotation and 500 tpd in cyanidation) in the fourth
quarter of 2012, 2,000 tpd by the end of 2013, and 4,000 tpd (2,000 tpd
in flotation and 2,000 tpd in cyanidation) by the end of 2014. Full
financial and production details will be contained in the PEA.
First Majestic is a producing silver company focused on silver production
in Mexico and is aggressively pursuing its business plan of becoming a
senior silver producer through the development of its existing mineral
property assets and the pursuit through acquisition of additional mineral
assets which contribute to the Company achieving its aggressive corporate
growth objectives.
FOR FURTHER INFORMATION visit our website at www.firstmajestic.com.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
BRIEF-RESEARCH ALERT-UBS raises First Majestic price target
Jan 25 (Reuters) - First Majestic Silver Corp <FR.TO>:
* UBS raises First Majestic <FR.TO> price target to C$20 from C$19
For a summary of rating and price target changes on U.S. companies:
Reuters Eikon users, click on [RCH/US]
Reuters 3000Xtra users, double-click [RCH/US]
Reuters Station users, click .1568
For a summary of rating and price target changes on Canadian companies:
Reuters Eikon users, click on [RCH/CA]
Reuters 3000Xtra users, double-click [RCH/CA]
Reuters Station users, click .4899
((Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780))
Jan 25 (Reuters) - First Majestic Silver Corp <FR.TO>:
* UBS raises First Majestic <FR.TO> price target to C$20 from C$19
For a summary of rating and price target changes on U.S. companies:
Reuters Eikon users, click on [RCH/US]
Reuters 3000Xtra users, double-click [RCH/US]
Reuters Station users, click .1568
For a summary of rating and price target changes on Canadian companies:
Reuters Eikon users, click on [RCH/CA]
Reuters 3000Xtra users, double-click [RCH/CA]
Reuters Station users, click .4899
((Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780))
February 24, 2012 11:53 ET
First Majestic Silver to Announce Fourth Quarter and Year End 2011 Financial Results
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce that its audited fourth quarter and year-end 2011 financial results will be released on Monday, March 5, 2012 prior to the NYSE and TSX opening.
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
First Majestic Silver to Announce Fourth Quarter and Year End 2011 Financial Results
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce that its audited fourth quarter and year-end 2011 financial results will be released on Monday, March 5, 2012 prior to the NYSE and TSX opening.
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
First Majestic profit jumps, sees higher 2012 output
March 5 (Reuters) - Canada's First Majestic Silver
<FR.TO> reported a 55 percent jump in fourth-quarter profit, and
forecast higher production for this year.
For the October-December period, net income was C$21.3
million ($21.56 million), or 20 Canadian cents per basic share,
up from C$13.7 million, or 14 Canadian cents per basic share, a
year ago.
On an adjusted basis, the company earned 24 Canadian cents
per share.
Revenue rose 52 percent to C$60.8 million.
($1 = 0.9879 Canadian dollars)
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Sriraj Kalluvila)
((bhaswati.mukho@thomsonreuter.com; within U.S. +1 646 223
8780; outside U.S. +91 80 4135 5820;
Reuters Messaging: bhaswati.mukho.reuters.com@reuters.net))
March 5 (Reuters) - Canada's First Majestic Silver
<FR.TO> reported a 55 percent jump in fourth-quarter profit, and
forecast higher production for this year.
For the October-December period, net income was C$21.3
million ($21.56 million), or 20 Canadian cents per basic share,
up from C$13.7 million, or 14 Canadian cents per basic share, a
year ago.
On an adjusted basis, the company earned 24 Canadian cents
per share.
Revenue rose 52 percent to C$60.8 million.
($1 = 0.9879 Canadian dollars)
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Sriraj Kalluvila)
((bhaswati.mukho@thomsonreuter.com; within U.S. +1 646 223
8780; outside U.S. +91 80 4135 5820;
Reuters Messaging: bhaswati.mukho.reuters.com@reuters.net))
[url=http://peketec.de/trading/viewtopic.php?p=1220226#1220226 schrieb:
First Majestic Silver Corp.: Kaufen mit Kursziel 22,00 USD
Merrill Lynch hat erstmalig eine Einschätzung zu First Majestic Silver veröffentlicht. Die Produktionsplanung von First Majestic beläuft sich für 2012 auf 8,8 Mio. - 9,3 Mio. oz Silberäquivalent zu Cashkosten von 8,61 USD/oz und die Analysten sagen für 2013 9,1 Mio. oz Silberäquivalent zu Cashkosten von 7,35 USD/oz vorher. Sie gehen außerdem davon aus, dass das Unternehmen 2013 nach Fertigstellung der Del Toro Mine etwa 14,1 Mio. oz Silberäquivalent produzieren kann. Merrill Lynch rechnet auch damit, das Updates zu den Minen Del Toro, La Encantada und San Martin die Lebensdauer dieser Minen deutlich verlängern werden. Nach den Schätzungen der Analysten wird das Unternehmen Ende des Jahres in der Lage sein, eine Dividende einzuführen.
Im Jahr 2011 machte Silber 95,4% der Minenproduktion von First Majestic aus und die Analysten schätzen, dass dieser Anteil auch in Zukunft mindestens 91% betragen wird, was das Unternehmen zum reinsten Silberproduzenten am Markt macht. Sie raten zum Kauf der Aktie und geben 22,00 USD als Kursziel an.
© Redaktion MinenPortal.de
Redaktion, 16.03.12 - 8:08 Uhr
Merrill Lynch hat erstmalig eine Einschätzung zu First Majestic Silver veröffentlicht. Die Produktionsplanung von First Majestic beläuft sich für 2012 auf 8,8 Mio. - 9,3 Mio. oz Silberäquivalent zu Cashkosten von 8,61 USD/oz und die Analysten sagen für 2013 9,1 Mio. oz Silberäquivalent zu Cashkosten von 7,35 USD/oz vorher. Sie gehen außerdem davon aus, dass das Unternehmen 2013 nach Fertigstellung der Del Toro Mine etwa 14,1 Mio. oz Silberäquivalent produzieren kann. Merrill Lynch rechnet auch damit, das Updates zu den Minen Del Toro, La Encantada und San Martin die Lebensdauer dieser Minen deutlich verlängern werden. Nach den Schätzungen der Analysten wird das Unternehmen Ende des Jahres in der Lage sein, eine Dividende einzuführen.
Im Jahr 2011 machte Silber 95,4% der Minenproduktion von First Majestic aus und die Analysten schätzen, dass dieser Anteil auch in Zukunft mindestens 91% betragen wird, was das Unternehmen zum reinsten Silberproduzenten am Markt macht. Sie raten zum Kauf der Aktie und geben 22,00 USD als Kursziel an.
© Redaktion MinenPortal.de
Redaktion, 16.03.12 - 8:08 Uhr
March 30, 2012 16:25 ET
First Majestic Files Form 40-F Annual Report
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) announces that its 2011 audited financial statements have been filed on SEDAR. In addition, a Form 40-F report has been filed with the United States Securities and Exchange Commission and is available on EDGAR. Both documents are also available on the Company's website at www.firstmajestic.com.
Shareholders may also receive a copy of First Majestic's audited financial statements, without charge, upon request to First Majestic, Suite 1805 - 925 West Georgia Street Vancouver, B.C., Canada V6C 3L2 or to info@firstmajestic.com.
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
First Majestic Files Form 40-F Annual Report
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) announces that its 2011 audited financial statements have been filed on SEDAR. In addition, a Form 40-F report has been filed with the United States Securities and Exchange Commission and is available on EDGAR. Both documents are also available on the Company's website at www.firstmajestic.com.
Shareholders may also receive a copy of First Majestic's audited financial statements, without charge, upon request to First Majestic, Suite 1805 - 925 West Georgia Street Vancouver, B.C., Canada V6C 3L2 or to info@firstmajestic.com.
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
April 03, 2012 10:24 ET
First Majestic Announces Friendly Acquisition of Silvermex Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2012) - First Majestic Silver Corp. ("First Majestic") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Silvermex Resources Inc. (TSX:SLX)(OTCBB:GGCRF)(FRANKFURT:GSBN) ("Silvermex") are pleased to announce that they have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Silvermex for a consideration of 0.0355 common shares of First Majestic (the "Exchange Ratio") and C$0.0001 in cash per common share of Silvermex. The offer values Silvemex at approximately C$0.60 per share, representing a premium of approximately 33% to the closing price of Silvermex as at April 2, 2012 and approximately 43% to the 30 day volume weighted average price ("VWAP"). The transaction will be implemented by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).
BENEFITS TO FIRST MAJESTIC SHAREHOLDERS
Strengthens First Majestic's position as one of the world's leading silver producers.
Enhances First Majestic's leading position in Mexico, one of the world's most prolific silver and gold regions.
La Guitarra adds a fourth producing asset with additional growth potential to First Majestic's portfolio of Mexican assets.
Further diversifies production and cash flow across a robust portfolio of producing mines and development projects.
BENEFITS TO SILVERMEX SHAREHOLDERS
Provides Silvermex shareholders with a highly attractive premium to current market price.
Creates opportunity to participate in a leading silver producer and increases leverage to current strong silver price environment.
Gain access to First Majestic's operational expertise and financial strength.
Diversifies Silvermex's single asset risk profile and provides exposure to First Majestic's portfolio of Mexican assets.
Increased analytical following and liquidity with a broader investor base.
Keith Neumeyer, President & CEO of First Majestic, stated: "We believe this transaction provides an excellent opportunity for the shareholders of both First Majestic and Silvermex. First Majestic shareholders gain increased exposure to silver and can realize the significant upside in production and reserves that we believe exists at La Guitarra, while Silvermex shareholders realize an immediate premium and can capitalize on the value creation that First Majestic brings going forward."
Duane Nelson, CEO of Silvermex added: "First Majestic brings the necessary capital and operational expertise required to accelerate exploration activities and production growth at our La Guitarra Mine as well as our other advanced projects. We believe that First Majestic's proven track record of operational achievements and experience in Mexico will ensure a successful future for the combined company."
TRANSACTION SUMMARY
Under the terms of the Arrangement, on closing, each Silvermex shareholder will receive 0.0355 common shares of First Majestic and C$0.0001 in cash per Silvermex common share. Outstanding Silvermex options will be exchanged for First Majestic shares with a value equal to the in-the-money value of the options (based on the Exchange Ratio). Outstanding Silvermex warrants will be exchanged for First Majestic shares with a value equal to the in-the-money value of the warrants (based on the Exchange Ratio) or may be exchanged for equivalent warrants of First Majestic, at the election of the holder. Pursuant to the transaction, First Majestic will issue approximately 9.6 million First Majestic common shares valuing the company at approximately C$175.4 million based on First Majestic's 30 day VWAP on April 2, 2012. Following completion of the transaction, the current First Majestic shareholders will hold approximately 91.7% of the combined company, while current shareholders of Silvermex will hold approximately 8.3%. The transaction will be carried out by way of a court-approved plan of arrangement and will require the approval of at least 66 2/3% of the votes cast by the shareholders, warrant holders and option holders of Silvermex voting together as a single class at a special meeting expected to take place in June 2012. In addition to shareholder and court approvals, the transaction is subject to applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature.
The Arrangement Agreement includes customary provisions, including no solicitation of alternative transactions, right to match superior proposals and fiduciary-out provisions. Silvermex has agreed to pay a termination fee to First Majestic of C$6.14 million upon the occurrence of certain termination events.
The Board of Directors of Silvermex has unanimously approved the transaction and is expected to provide a written recommendation that Silvermex shareholders vote in favour of the transaction in the information circular to be mailed to shareholders in connection with the Arrangement. Each of the directors and senior officers of Silvermex and certain shareholders of Silvermex representing approximately 21% of the issued and outstanding Silvermex securities have entered into voting agreements with First Majestic and have agreed to vote in favour of the transaction at the special meeting of Silvermex securityholders to be held to consider the Arrangement.
Full details of the Arrangement will be included in a Management Information Circular to be filed with the regulatory authorities and mailed to Silvermex securityholders in accordance with applicable securities laws. Silvermex expects to mail the Management Information Circular in May 2012.
ADVISORS AND COUNSEL
BMO Capital Markets acted as exclusive financial advisor to First Majestic and has provided an opinion to the First Majestic Board of Directors that the consideration to be paid by First Majestic under the transaction is fair, from a financial point of view, to First Majestic. GMP Securities L.P., acting as financial advisor to Silvermex, has provided an opinion to the Board of Directors of Silvermex that, based upon and subject to the assumptions, limitations, and qualifications in the opinion, the consideration to be received is fair, from a financial point of view, to the shareholders of Silvermex. First Majestic's Canadian, Mexican and US legal counsel are McCullough O'Connor Irwin LLP, Todd y Asociados S.C. and Clark Wilson LLP respectively. Silvermex's Canadian and Mexican legal counsel are McMillan LLP and Urias Romero Y Asociados, S.C. respectively.
CONFERENCE CALL
First Majestic and Silvermex will host a joint conference call and webcast on Tuesday, April 3, 2012 at 11:30 am Eastern time / 8:30 am Pacific time for members of the investment community to discuss the proposed transaction. The call-in details are as follows:
Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791
Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call at www.firstmajestic.com.
The conference call will be recorded and you can listen to an archive of the conference by calling:
Canada & USA Toll Free: 1-800-319-6413
Outside Canada & USA: 1-604-638-9010
Pin Code: 3928 followed by the # sign
An archived webcast of the conference call will also be available at www.firstmajestic.com.
First Majestic Announces Friendly Acquisition of Silvermex Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2012) - First Majestic Silver Corp. ("First Majestic") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Silvermex Resources Inc. (TSX:SLX)(OTCBB:GGCRF)(FRANKFURT:GSBN) ("Silvermex") are pleased to announce that they have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Silvermex for a consideration of 0.0355 common shares of First Majestic (the "Exchange Ratio") and C$0.0001 in cash per common share of Silvermex. The offer values Silvemex at approximately C$0.60 per share, representing a premium of approximately 33% to the closing price of Silvermex as at April 2, 2012 and approximately 43% to the 30 day volume weighted average price ("VWAP"). The transaction will be implemented by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).
BENEFITS TO FIRST MAJESTIC SHAREHOLDERS
Strengthens First Majestic's position as one of the world's leading silver producers.
Enhances First Majestic's leading position in Mexico, one of the world's most prolific silver and gold regions.
La Guitarra adds a fourth producing asset with additional growth potential to First Majestic's portfolio of Mexican assets.
Further diversifies production and cash flow across a robust portfolio of producing mines and development projects.
BENEFITS TO SILVERMEX SHAREHOLDERS
Provides Silvermex shareholders with a highly attractive premium to current market price.
Creates opportunity to participate in a leading silver producer and increases leverage to current strong silver price environment.
Gain access to First Majestic's operational expertise and financial strength.
Diversifies Silvermex's single asset risk profile and provides exposure to First Majestic's portfolio of Mexican assets.
Increased analytical following and liquidity with a broader investor base.
Keith Neumeyer, President & CEO of First Majestic, stated: "We believe this transaction provides an excellent opportunity for the shareholders of both First Majestic and Silvermex. First Majestic shareholders gain increased exposure to silver and can realize the significant upside in production and reserves that we believe exists at La Guitarra, while Silvermex shareholders realize an immediate premium and can capitalize on the value creation that First Majestic brings going forward."
Duane Nelson, CEO of Silvermex added: "First Majestic brings the necessary capital and operational expertise required to accelerate exploration activities and production growth at our La Guitarra Mine as well as our other advanced projects. We believe that First Majestic's proven track record of operational achievements and experience in Mexico will ensure a successful future for the combined company."
TRANSACTION SUMMARY
Under the terms of the Arrangement, on closing, each Silvermex shareholder will receive 0.0355 common shares of First Majestic and C$0.0001 in cash per Silvermex common share. Outstanding Silvermex options will be exchanged for First Majestic shares with a value equal to the in-the-money value of the options (based on the Exchange Ratio). Outstanding Silvermex warrants will be exchanged for First Majestic shares with a value equal to the in-the-money value of the warrants (based on the Exchange Ratio) or may be exchanged for equivalent warrants of First Majestic, at the election of the holder. Pursuant to the transaction, First Majestic will issue approximately 9.6 million First Majestic common shares valuing the company at approximately C$175.4 million based on First Majestic's 30 day VWAP on April 2, 2012. Following completion of the transaction, the current First Majestic shareholders will hold approximately 91.7% of the combined company, while current shareholders of Silvermex will hold approximately 8.3%. The transaction will be carried out by way of a court-approved plan of arrangement and will require the approval of at least 66 2/3% of the votes cast by the shareholders, warrant holders and option holders of Silvermex voting together as a single class at a special meeting expected to take place in June 2012. In addition to shareholder and court approvals, the transaction is subject to applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature.
The Arrangement Agreement includes customary provisions, including no solicitation of alternative transactions, right to match superior proposals and fiduciary-out provisions. Silvermex has agreed to pay a termination fee to First Majestic of C$6.14 million upon the occurrence of certain termination events.
The Board of Directors of Silvermex has unanimously approved the transaction and is expected to provide a written recommendation that Silvermex shareholders vote in favour of the transaction in the information circular to be mailed to shareholders in connection with the Arrangement. Each of the directors and senior officers of Silvermex and certain shareholders of Silvermex representing approximately 21% of the issued and outstanding Silvermex securities have entered into voting agreements with First Majestic and have agreed to vote in favour of the transaction at the special meeting of Silvermex securityholders to be held to consider the Arrangement.
Full details of the Arrangement will be included in a Management Information Circular to be filed with the regulatory authorities and mailed to Silvermex securityholders in accordance with applicable securities laws. Silvermex expects to mail the Management Information Circular in May 2012.
ADVISORS AND COUNSEL
BMO Capital Markets acted as exclusive financial advisor to First Majestic and has provided an opinion to the First Majestic Board of Directors that the consideration to be paid by First Majestic under the transaction is fair, from a financial point of view, to First Majestic. GMP Securities L.P., acting as financial advisor to Silvermex, has provided an opinion to the Board of Directors of Silvermex that, based upon and subject to the assumptions, limitations, and qualifications in the opinion, the consideration to be received is fair, from a financial point of view, to the shareholders of Silvermex. First Majestic's Canadian, Mexican and US legal counsel are McCullough O'Connor Irwin LLP, Todd y Asociados S.C. and Clark Wilson LLP respectively. Silvermex's Canadian and Mexican legal counsel are McMillan LLP and Urias Romero Y Asociados, S.C. respectively.
CONFERENCE CALL
First Majestic and Silvermex will host a joint conference call and webcast on Tuesday, April 3, 2012 at 11:30 am Eastern time / 8:30 am Pacific time for members of the investment community to discuss the proposed transaction. The call-in details are as follows:
Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791
Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call at www.firstmajestic.com.
The conference call will be recorded and you can listen to an archive of the conference by calling:
Canada & USA Toll Free: 1-800-319-6413
Outside Canada & USA: 1-604-638-9010
Pin Code: 3928 followed by the # sign
An archived webcast of the conference call will also be available at www.firstmajestic.com.
NUR FÜR DEN INTERNEN GEBRAUCH
Apr 3, 2012 5:12 PM
First Majestic sets its sights on senior status
First Majestic Silver (FR-T) believes Silvermex Resources’(SLX-T) key asset can take it to the next tier of silver producers.
The company announced a friendly offer for Silvermex that is made up of 0.0355 common shares of First Majestic and $0.0001 in cash per common share of Silvermex — an amount that values Silvermex at 60¢ per share or a 33% premium to its closing price on April 2.
The driver behind the deal, and the apple of First Majestic’s eye is Silvermex’s La Guitarra project, a hitherto underperforming mine that sits on a land package bursting with geological potential.
And while First Majestic’s team is preparing to zero in on longer term goals at the project — such as updating resources, boosting production and driving down costs — even as it stands now La Guitarra would help First Majestic approach an important threshold.
“With the addition of La Guitarra’s 850,000 oz. of production we’ll have a good chance to break through the 10 million ounce mark,” Keith Neumeyer, First Majestic’s president and chief executive said on a conference call. “And that is an important number because it would catapult us into the senior silver producer area and we would likely get additional market acceptance for getting there.”
First Majestic currently has three producing mines and is in the midst of constructing its US$129 million flagship mine, Del Toro. It expects to have Del Toro in production by end of this year, which means that if the Silvermex deal goes through — and shareholders will vote on the transaction in June — the company could end the year with five producing silver mines….all of which would be in Mexico.
Last year First Majestic produced 7.6 mill oz. of silver and the company has issued guidance this year of 8.5 to 9 mill oz. not including La Guitarra.
And while First Majestic is acquiring a decent sized mine with big exploration upside, it is not a project without its challenges. The two chief concerns with the project have been a lack of a consolidated and economically verified resource, and high production costs at the current mine.
“The resource potential excites us,” Neumeyer says. “It’s why Silvermex bought it from Gemco Minerals (the previous owner). But it is a big property and it will take time to develop. We feel confident that there are 100 mill oz. of silver there and that is the basis of our reason for acquiring the asset.”
Neumeyer estimates it would take First Majestic 12 to 18 months to do a thorough resource calculation on the property, which would mean that a resource update would be released by the middle of 2013.
But a more thorough understanding of what is in the ground is only half of the challenge at the project. The other is to mine what is there at a more economic rate.
To put the current mining costs into context, La Guitarra is producing silver at a cost of US$105 per tonne, while First Majestic’s three producing mines ring in with an average cost in the low US$40 per tonne range.
“Going from US$105 to US$40 per tonne is a big task,” Neumeyer says. “It’s not going to happen over night. But we know how to attack it, and we know how to bring the costs down. You’ll see us bringing the operation to the streamlined efficiency that you see elsewhere at First Majestic.”
A focus on cost reduction means the company will hold off on any expansion plans to the plant in the first year. Once costs are brought into a more acceptable range however, Neumeyer says the company will consider bolstering the plant to a 1,000 tonne per day operation from its current 320 tonne per day capacity.
“For us to buy an asset, obviously we have expansion plans. Now there are risks there, this is mining after all,” Neumeyer say, “but we hope that once the acquisition is completed we can bring growth to this mine. But it will take time and money.”
La Guitarra sits in the Temascaltepec mining district roughly 130-km south west of Mexico City.
Modern production goes at the site goes back to the early 1990s but the district has seen mining since the 1550s.
The land position covers 397 sq. km. and hosts over 15-km of strike length with the main areas of interest being La Guitarra, San Rafael, Mina de Agua, Rincon, Nazareno, and Coloso.
While ore for the mine is currently coming from an underground operation at the La Guitarra main zone, Silvermex’s chief executive Duane Nelson says recent results from the San Rafael vein point to that area adding to production in the near future.
Silvermex has estimated that life of mine average production grades will be 266 grams per tonne silver and 3.5 grams gold.
The mine went out of production in 2008 and Silvermex re-commenced the operation in 2010. While the previous operator was on a production downtrend, from roughly 800,000 oz. in 2005, to fewer than 500,000 in 2008, Silvermex is projecting production of close to 800,000 oz. for this year.
In Toronto on April 3, First Majestic shares were off 45¢ or 3% to $16.46, while Silvermex shares were up 12¢ or 26% to 57¢.
Apr 3, 2012 5:12 PM
First Majestic sets its sights on senior status
First Majestic Silver (FR-T) believes Silvermex Resources’(SLX-T) key asset can take it to the next tier of silver producers.
The company announced a friendly offer for Silvermex that is made up of 0.0355 common shares of First Majestic and $0.0001 in cash per common share of Silvermex — an amount that values Silvermex at 60¢ per share or a 33% premium to its closing price on April 2.
The driver behind the deal, and the apple of First Majestic’s eye is Silvermex’s La Guitarra project, a hitherto underperforming mine that sits on a land package bursting with geological potential.
And while First Majestic’s team is preparing to zero in on longer term goals at the project — such as updating resources, boosting production and driving down costs — even as it stands now La Guitarra would help First Majestic approach an important threshold.
“With the addition of La Guitarra’s 850,000 oz. of production we’ll have a good chance to break through the 10 million ounce mark,” Keith Neumeyer, First Majestic’s president and chief executive said on a conference call. “And that is an important number because it would catapult us into the senior silver producer area and we would likely get additional market acceptance for getting there.”
First Majestic currently has three producing mines and is in the midst of constructing its US$129 million flagship mine, Del Toro. It expects to have Del Toro in production by end of this year, which means that if the Silvermex deal goes through — and shareholders will vote on the transaction in June — the company could end the year with five producing silver mines….all of which would be in Mexico.
Last year First Majestic produced 7.6 mill oz. of silver and the company has issued guidance this year of 8.5 to 9 mill oz. not including La Guitarra.
And while First Majestic is acquiring a decent sized mine with big exploration upside, it is not a project without its challenges. The two chief concerns with the project have been a lack of a consolidated and economically verified resource, and high production costs at the current mine.
“The resource potential excites us,” Neumeyer says. “It’s why Silvermex bought it from Gemco Minerals (the previous owner). But it is a big property and it will take time to develop. We feel confident that there are 100 mill oz. of silver there and that is the basis of our reason for acquiring the asset.”
Neumeyer estimates it would take First Majestic 12 to 18 months to do a thorough resource calculation on the property, which would mean that a resource update would be released by the middle of 2013.
But a more thorough understanding of what is in the ground is only half of the challenge at the project. The other is to mine what is there at a more economic rate.
To put the current mining costs into context, La Guitarra is producing silver at a cost of US$105 per tonne, while First Majestic’s three producing mines ring in with an average cost in the low US$40 per tonne range.
“Going from US$105 to US$40 per tonne is a big task,” Neumeyer says. “It’s not going to happen over night. But we know how to attack it, and we know how to bring the costs down. You’ll see us bringing the operation to the streamlined efficiency that you see elsewhere at First Majestic.”
A focus on cost reduction means the company will hold off on any expansion plans to the plant in the first year. Once costs are brought into a more acceptable range however, Neumeyer says the company will consider bolstering the plant to a 1,000 tonne per day operation from its current 320 tonne per day capacity.
“For us to buy an asset, obviously we have expansion plans. Now there are risks there, this is mining after all,” Neumeyer say, “but we hope that once the acquisition is completed we can bring growth to this mine. But it will take time and money.”
La Guitarra sits in the Temascaltepec mining district roughly 130-km south west of Mexico City.
Modern production goes at the site goes back to the early 1990s but the district has seen mining since the 1550s.
The land position covers 397 sq. km. and hosts over 15-km of strike length with the main areas of interest being La Guitarra, San Rafael, Mina de Agua, Rincon, Nazareno, and Coloso.
While ore for the mine is currently coming from an underground operation at the La Guitarra main zone, Silvermex’s chief executive Duane Nelson says recent results from the San Rafael vein point to that area adding to production in the near future.
Silvermex has estimated that life of mine average production grades will be 266 grams per tonne silver and 3.5 grams gold.
The mine went out of production in 2008 and Silvermex re-commenced the operation in 2010. While the previous operator was on a production downtrend, from roughly 800,000 oz. in 2005, to fewer than 500,000 in 2008, Silvermex is projecting production of close to 800,000 oz. for this year.
In Toronto on April 3, First Majestic shares were off 45¢ or 3% to $16.46, while Silvermex shares were up 12¢ or 26% to 57¢.
April 16, 2012 10:22 ET
First Majestic Silver Corp.: First Quarter Production Results and Full Commencement of Commercial Production at La Parrilla
http://www.marketwire.com/press-rel...ll-commencement-commercial-tsx-fr-1644235.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV)(WKN: A0LHKJ) is pleased to announce that total production at its three mines in Mexico for the first quarter ending March 31, 2012 reached 2,007,219 equivalent ounces of silver.
The total equivalent silver production for the quarter consisted of 1,826,803 ounces of silver, representing a 7% decrease compared to the prior quarter but an increase of 3% compared to the same quarter in 2011. In addition, 3,176,662 pounds of lead was produced representing a 7% decrease from the previous quarter and an increase of 167% compared to the same quarter in the previous year and 1,320,726 pounds of zinc was produced compared with 152,664 pounds from the previous quarter and none in the same quarter of the previous year. Also, 611 ounces of gold was produced, representing an increase of 39% compared to the previous quarter and an increase of 74% compared to the first quarter of 2011.
The Company is pleased to announce that the new La Parrilla cyanidation circuit has been deemed commercial effective March 1, 2012. Effective March 1, 2012, all revenues and costs will henceforth be treated as normal course operations and recorded in the Company's income statement. The connection of the new power line to the national grid and the construction of the Merrill-Crowe circuit are now completed. The installation of the new tailings filters is expected to be completed during the second quarter.
Keith Neumeyer, President & CEO of First Majestic states, "Our focus in the first quarter paid off with the completion of the new cyanidation circuit at La Parrilla. With two major construction projects underway our operations staff deserve to be commended by achieving close to budget in this quarter. The way is now paved for a great start to 2012."
First Majestic Silver Corp.: First Quarter Production Results and Full Commencement of Commercial Production at La Parrilla
http://www.marketwire.com/press-rel...ll-commencement-commercial-tsx-fr-1644235.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV)(WKN: A0LHKJ) is pleased to announce that total production at its three mines in Mexico for the first quarter ending March 31, 2012 reached 2,007,219 equivalent ounces of silver.
The total equivalent silver production for the quarter consisted of 1,826,803 ounces of silver, representing a 7% decrease compared to the prior quarter but an increase of 3% compared to the same quarter in 2011. In addition, 3,176,662 pounds of lead was produced representing a 7% decrease from the previous quarter and an increase of 167% compared to the same quarter in the previous year and 1,320,726 pounds of zinc was produced compared with 152,664 pounds from the previous quarter and none in the same quarter of the previous year. Also, 611 ounces of gold was produced, representing an increase of 39% compared to the previous quarter and an increase of 74% compared to the first quarter of 2011.
The Company is pleased to announce that the new La Parrilla cyanidation circuit has been deemed commercial effective March 1, 2012. Effective March 1, 2012, all revenues and costs will henceforth be treated as normal course operations and recorded in the Company's income statement. The connection of the new power line to the national grid and the construction of the Merrill-Crowe circuit are now completed. The installation of the new tailings filters is expected to be completed during the second quarter.
Keith Neumeyer, President & CEO of First Majestic states, "Our focus in the first quarter paid off with the completion of the new cyanidation circuit at La Parrilla. With two major construction projects underway our operations staff deserve to be commended by achieving close to budget in this quarter. The way is now paved for a great start to 2012."
May 10, 2012 07:00 ET
First Majestic Reports Strong Earnings of $26.4M in Q1 2012, Up 10% Compared With Q1 2011; Revenues Top $57.8M, Up 5% From Q1 2011
http://www.marketwire.com/press-rel...ared-with-q1-2011-revenues-tsx-fr-1655303.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce the unaudited condensed consolidated interim financial results for the Company for the first quarter ending March 31, 2012. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
2012 FIRST QUARTER HIGHLIGHTS
•Earnings per Share (basic) amounted to $0.25, representing a 5% increase from Q1 2011
•Cash Flow per share (non-GAAP) of $0.35, unchanged from Q1 2011
•Adjusted Earnings per Share (non-GAAP) amounted to $0.26 after removing an unrealized loss on silver futures
•Gross Revenue of $57.8 million showing a 5% increase from Q1 2011
•Net Earnings after Taxes amounted to $26.4 million, a 10% increase from Q1 2011
•Mine Operating Earnings totaling $35.7 million
•Total Production Cost per Tonne was $29.24, a decrease of 3% from Q1 2011
•Total Cash Cost was $8.96 per ounce, up 8% compared to Q1 2011
•Silver ounces produced increased by 3% to 1,826,803 compared to 1,769,208 ounces in Q1 2011
•Cash and Cash Equivalents now stand at $85.3 million and Working Capital of $108.3 million
•In addition to Cash, First Majestic was carrying 596,520 PSLV (Sprott Physical Silver Trust) units at quarter end
First Majestic Reports Strong Earnings of $26.4M in Q1 2012, Up 10% Compared With Q1 2011; Revenues Top $57.8M, Up 5% From Q1 2011
http://www.marketwire.com/press-rel...ared-with-q1-2011-revenues-tsx-fr-1655303.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce the unaudited condensed consolidated interim financial results for the Company for the first quarter ending March 31, 2012. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
2012 FIRST QUARTER HIGHLIGHTS
•Earnings per Share (basic) amounted to $0.25, representing a 5% increase from Q1 2011
•Cash Flow per share (non-GAAP) of $0.35, unchanged from Q1 2011
•Adjusted Earnings per Share (non-GAAP) amounted to $0.26 after removing an unrealized loss on silver futures
•Gross Revenue of $57.8 million showing a 5% increase from Q1 2011
•Net Earnings after Taxes amounted to $26.4 million, a 10% increase from Q1 2011
•Mine Operating Earnings totaling $35.7 million
•Total Production Cost per Tonne was $29.24, a decrease of 3% from Q1 2011
•Total Cash Cost was $8.96 per ounce, up 8% compared to Q1 2011
•Silver ounces produced increased by 3% to 1,826,803 compared to 1,769,208 ounces in Q1 2011
•Cash and Cash Equivalents now stand at $85.3 million and Working Capital of $108.3 million
•In addition to Cash, First Majestic was carrying 596,520 PSLV (Sprott Physical Silver Trust) units at quarter end
May 22, 2012 05:00 ET
First Majestic Silver Corp.: Del Toro NI 43-101 Technical Report & Pre-Feasibility Study
http://www.marketwire.com/press-rel...port-pre-feasibility-study-tsx-fr-1659770.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 22, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV)(WKN:A0LHKJ) (the "Company" or "First Majestic") is pleased to announce a new NI 43-101 Technical Report (TR) and Pre-Feasibility Study (PFS) for the Del Toro Silver Mine.
REPORTED HIGHLIGHTS
•Silver Equivalent Measured & Indicated Resources increased by 186% to 74.5 million ounces
•Silver Equivalent Inferred Resources increased by 79% to 79.0 million ounces
•Total estimated production to reach 9.7 million silver equivalent ounces in 2014
•Estimated total operating costs at $34.96 per tonne and cash costs of $7.32 per ounce of silver on a by-product basis
•Post Tax NPV at 5% discount = US$147.1 million using a US$25 silver price
•Internal Rate of Return (IRR) is 43% with a payback period of 2.5 years from completion
•Life of Mine (LOM) currently estimated at 6.5 years taking into consideration mine dilution from underground mining operations and metallurgical silver recoveries of 77% in Sulfides and 81% in Oxides
•Total capital requirement over three years of $124.2 million including a 5% contingency
•The Del Toro Silver Mine is 100% owned by First Majestic Silver and there are no Royalties payable
This new NI 43-101 TR and PFS considers exploration and development work completed as at the cut-off date of March 31, 2012. These estimates include all work completed as at the cut-off date, including a total of 35,230 metres of diamond drilling over 117 holes and development metres totalling 7,133. Assays for 33 holes did not make the cut-off date and were not included in this report. Seven drill rigs remain actively drilling on site. The new Resource estimates as at the cut-off consists of 74.5 million ounces of silver equivalent in Measured and Indicated Resources, representing an increase of 186% from the 2008 estimates plus an additional 79.0 million ounces contained in Inferred Resources representing a 79% increase from the previous estimate.
First Majestic Silver Corp.: Del Toro NI 43-101 Technical Report & Pre-Feasibility Study
http://www.marketwire.com/press-rel...port-pre-feasibility-study-tsx-fr-1659770.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 22, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV)(WKN:A0LHKJ) (the "Company" or "First Majestic") is pleased to announce a new NI 43-101 Technical Report (TR) and Pre-Feasibility Study (PFS) for the Del Toro Silver Mine.
REPORTED HIGHLIGHTS
•Silver Equivalent Measured & Indicated Resources increased by 186% to 74.5 million ounces
•Silver Equivalent Inferred Resources increased by 79% to 79.0 million ounces
•Total estimated production to reach 9.7 million silver equivalent ounces in 2014
•Estimated total operating costs at $34.96 per tonne and cash costs of $7.32 per ounce of silver on a by-product basis
•Post Tax NPV at 5% discount = US$147.1 million using a US$25 silver price
•Internal Rate of Return (IRR) is 43% with a payback period of 2.5 years from completion
•Life of Mine (LOM) currently estimated at 6.5 years taking into consideration mine dilution from underground mining operations and metallurgical silver recoveries of 77% in Sulfides and 81% in Oxides
•Total capital requirement over three years of $124.2 million including a 5% contingency
•The Del Toro Silver Mine is 100% owned by First Majestic Silver and there are no Royalties payable
This new NI 43-101 TR and PFS considers exploration and development work completed as at the cut-off date of March 31, 2012. These estimates include all work completed as at the cut-off date, including a total of 35,230 metres of diamond drilling over 117 holes and development metres totalling 7,133. Assays for 33 holes did not make the cut-off date and were not included in this report. Seven drill rigs remain actively drilling on site. The new Resource estimates as at the cut-off consists of 74.5 million ounces of silver equivalent in Measured and Indicated Resources, representing an increase of 186% from the 2008 estimates plus an additional 79.0 million ounces contained in Inferred Resources representing a 79% increase from the previous estimate.
June 26, 2012 15:22 ET
Silvermex Securityholders Approve Plan of Arrangement With First Majestic
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2012) - First Majestic Silver Corp. ("First Majestic") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Silvermex Resources Inc. (TSX:SLX)(OTCBB:GGCRF)(FRANKFURT:GSBN) ("Silvermex") are pleased to announce the positive results from the Silvermex annual general and special meeting held today in Vancouver, Canada. Silvermex shareholders, warrantholders and optionholders (together, the "Securityholders") overwhelmingly voted in favour of the previously announced plan of arrangement (the "Arrangement") whereby First Majestic will acquire all of the issued and outstanding common shares of Silvermex.
Following the unanimous recommendation by the Silvermex Board of Directors, the transaction was approved by over 99% of the votes cast by Securityholders at the meeting. The Final Court Order approving the Arrangement will be sought on June 28, 2012. The effective date of the arrangement is expected to be on July 3, 2012.
Duane Nelson, CEO and Director of Silvermex said, "I am extremely pleased with the overwhelmingly positive response to the Arrangement by our shareholders which further reinforces our view that the acquisition by First Majestic is in the best interest of our shareholders. By joining together with First Majestic, our shareholders will gain exposure to First Majestic's pipeline of assets."
Keith Neumeyer, President and CEO of First Majestic said, "We are very pleased to welcome the Silvermex shareholders into the First Majestic family and look forward to the full integration of the La Guitarra Silver Mine into the First Majestic portfolio of producing assets. This acquisition further advances our goal of becoming the next senior silver producer and further retains our industry status as the purest silver producer in the world."
This transaction is expected to substantially benefit Silvermex shareholders by not only diversifying Silvermex's single asset risk profile into First Majestic's portfolio of Mexican assets, but also bringing the necessary capital and operational expertise required to potentially accelerate exploration activities and production growth at the La Guitarra Mine.
Silvermex Securityholders Approve Plan of Arrangement With First Majestic
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2012) - First Majestic Silver Corp. ("First Majestic") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Silvermex Resources Inc. (TSX:SLX)(OTCBB:GGCRF)(FRANKFURT:GSBN) ("Silvermex") are pleased to announce the positive results from the Silvermex annual general and special meeting held today in Vancouver, Canada. Silvermex shareholders, warrantholders and optionholders (together, the "Securityholders") overwhelmingly voted in favour of the previously announced plan of arrangement (the "Arrangement") whereby First Majestic will acquire all of the issued and outstanding common shares of Silvermex.
Following the unanimous recommendation by the Silvermex Board of Directors, the transaction was approved by over 99% of the votes cast by Securityholders at the meeting. The Final Court Order approving the Arrangement will be sought on June 28, 2012. The effective date of the arrangement is expected to be on July 3, 2012.
Duane Nelson, CEO and Director of Silvermex said, "I am extremely pleased with the overwhelmingly positive response to the Arrangement by our shareholders which further reinforces our view that the acquisition by First Majestic is in the best interest of our shareholders. By joining together with First Majestic, our shareholders will gain exposure to First Majestic's pipeline of assets."
Keith Neumeyer, President and CEO of First Majestic said, "We are very pleased to welcome the Silvermex shareholders into the First Majestic family and look forward to the full integration of the La Guitarra Silver Mine into the First Majestic portfolio of producing assets. This acquisition further advances our goal of becoming the next senior silver producer and further retains our industry status as the purest silver producer in the world."
This transaction is expected to substantially benefit Silvermex shareholders by not only diversifying Silvermex's single asset risk profile into First Majestic's portfolio of Mexican assets, but also bringing the necessary capital and operational expertise required to potentially accelerate exploration activities and production growth at the La Guitarra Mine.
July 03, 2012 10:35 ET
First Majestic Completes Acquisition of Silvermex Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2012) - First Majestic Silver Corp. ("First Majestic") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Silvermex Resources Inc. ("Silvermex") (TSX:SLX)(OTCBB:GGCRF)(FRANKFURT:GSBN) are pleased to announce the completion of the plan of arrangement (the "Arrangement") previously announced in the joint news release of First Majestic and Silvermex dated April 3, 2012.
Under the arrangement, First Majestic has acquired all of the issued and outstanding common shares of Silvermex. Shareholders of Silvermex will receive 0.0355 First Majestic shares and CDN$0.0001 for each held share of Silvermex.
Keith Neumeyer, President and CEO of First Majestic said, "I would like to take this opportunity to personally welcome Silvermex shareholders into the First Majestic family. The acquisition of Silvermex marks the third public company First Majestic has acquired over the past six years. Our shareholders have experienced great success by supporting our corporate strategy of purchasing undervalued silver properties with a focus of unlocking the true potential of the asset through continuous exploration and development."
With the Arrangement now complete, shares of Silvermex are anticipated to be delisted from the TSX effective at the close of business on July 6, 2012. Shareholders of Silvermex will receive shares of First Majestic and cash to which they are entitled upon delivery to Computershare Trust Company of Canada ("Computershare") of their Silvermex share certificates and completed letters of transmittal together with other required documents. Shareholders are encouraged to contact Computershare for further information concerning the exchange process.
First Majestic Completes Acquisition of Silvermex Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2012) - First Majestic Silver Corp. ("First Majestic") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Silvermex Resources Inc. ("Silvermex") (TSX:SLX)(OTCBB:GGCRF)(FRANKFURT:GSBN) are pleased to announce the completion of the plan of arrangement (the "Arrangement") previously announced in the joint news release of First Majestic and Silvermex dated April 3, 2012.
Under the arrangement, First Majestic has acquired all of the issued and outstanding common shares of Silvermex. Shareholders of Silvermex will receive 0.0355 First Majestic shares and CDN$0.0001 for each held share of Silvermex.
Keith Neumeyer, President and CEO of First Majestic said, "I would like to take this opportunity to personally welcome Silvermex shareholders into the First Majestic family. The acquisition of Silvermex marks the third public company First Majestic has acquired over the past six years. Our shareholders have experienced great success by supporting our corporate strategy of purchasing undervalued silver properties with a focus of unlocking the true potential of the asset through continuous exploration and development."
With the Arrangement now complete, shares of Silvermex are anticipated to be delisted from the TSX effective at the close of business on July 6, 2012. Shareholders of Silvermex will receive shares of First Majestic and cash to which they are entitled upon delivery to Computershare Trust Company of Canada ("Computershare") of their Silvermex share certificates and completed letters of transmittal together with other required documents. Shareholders are encouraged to contact Computershare for further information concerning the exchange process.
July 17, 2012 07:30 ET
First Majestic Produces 2.1 Million Silver Equivalent Ounces in Second Quarter
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (WKN:A0LHKJ)is pleased to announce that total production at its three mines in Mexico for the second quarter ending June 30, 2012 reached 2,102,222 equivalent ounces of silver, representing a 14% increase compared to the same quarter in 2011.
The total silver production for the quarter consisted of 1,917,248 ounces of silver, representing an 8% increase compared to the same quarter in 2011. In addition, 3,005,209 pounds of lead and 1,423,890 pounds of zinc was produced representing an increase of 116% and 5,355% respectively, compared to the same quarter in the previous year. Also, 533 ounces of gold was produced, representing an increase of 58% compared to the second quarter of 2011. No production from Silvermex Resources Inc. ("Silvermex") was included in First Majestic's second quarter operations as the acquisition closed on July 3, 2012, after the quarter was closed.
Following the recent closing of the Silvermex acquisition, the Company's 2012 production guidance has been adjusted for the additional production from the La Guitarra Silver Mine as well as other operational improvements at the existing operations. The Company now expects to produce between 8.3 to 9.1 million pure silver ounces, up from the previous 2012 guidance of 8.2 to 8.7 million silver ounces. Total silver equivalent production is now expected to be between 9.1 to 9.7 million ounces, up from the previous guidance of 8.8 to 9.3 million equivalent ounces.
Production Details Table:
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http://www.marketwire.com/press-release/first-majestic-produces-21-million-silver-equivalent-ounces-in-second-quarter-tsx-fr-1680558.htm
First Majestic Produces 2.1 Million Silver Equivalent Ounces in Second Quarter
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2012) - First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (WKN:A0LHKJ)is pleased to announce that total production at its three mines in Mexico for the second quarter ending June 30, 2012 reached 2,102,222 equivalent ounces of silver, representing a 14% increase compared to the same quarter in 2011.
The total silver production for the quarter consisted of 1,917,248 ounces of silver, representing an 8% increase compared to the same quarter in 2011. In addition, 3,005,209 pounds of lead and 1,423,890 pounds of zinc was produced representing an increase of 116% and 5,355% respectively, compared to the same quarter in the previous year. Also, 533 ounces of gold was produced, representing an increase of 58% compared to the second quarter of 2011. No production from Silvermex Resources Inc. ("Silvermex") was included in First Majestic's second quarter operations as the acquisition closed on July 3, 2012, after the quarter was closed.
Following the recent closing of the Silvermex acquisition, the Company's 2012 production guidance has been adjusted for the additional production from the La Guitarra Silver Mine as well as other operational improvements at the existing operations. The Company now expects to produce between 8.3 to 9.1 million pure silver ounces, up from the previous 2012 guidance of 8.2 to 8.7 million silver ounces. Total silver equivalent production is now expected to be between 9.1 to 9.7 million ounces, up from the previous guidance of 8.8 to 9.3 million equivalent ounces.
Production Details Table:
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http://www.marketwire.com/press-release/first-majestic-produces-21-million-silver-equivalent-ounces-in-second-quarter-tsx-fr-1680558.htm
August 21, 2012 13:33 ET
First Majestic Silver Corp.: Updated Del Toro NI 43-101 Technical Report & Final Permit Received
http://www.marketwire.com/press-rel...hnical-report-final-permit-tsx-fr-1693082.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce an updated and restated NI 43-101 Technical Report ("TR") and Pre-Feasibility Study ("PFS") for the Del Toro Silver Mine.
REPORTED HIGHLIGHTS
Silver Equivalent Measured & Indicated Resources increased to 76.5 million ounces
Silver Equivalent Inferred Resources increased to 81.8 million ounces
Average Measured and Indicated silver grade increased by 20% to 175 g/t
Total estimated production to reach 7.2 million silver equivalent ounces containing 5.4 million pure silver ounces in 2014
Subsequent to the Technical Report's cut-off date, on August 13, 2012, the Company received the final permit from the Mexican government approving the cyanidation circuit and the enlarged 4,000 tpd plant
Estimated total direct operating costs are $35.00 per tonne and cash costs of $7.05 per ounce of silver on a by-product basis for LOM
Post Tax Net Present Value ("NPV") at 5% discount increased by 30% to US$191.1 million using US$25 silver price
Internal Rate of Return ("IRR") increased from 43% to 49% with a payback period of 3.5 years
Total capital requirement over three years remains $124.2 million, inclusive of a 5% contingency
The Del Toro Silver Mine is 100% owned by First Majestic Silver and there are no royalties payable
First Majestic Silver Corp.: Updated Del Toro NI 43-101 Technical Report & Final Permit Received
http://www.marketwire.com/press-rel...hnical-report-final-permit-tsx-fr-1693082.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2012) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce an updated and restated NI 43-101 Technical Report ("TR") and Pre-Feasibility Study ("PFS") for the Del Toro Silver Mine.
REPORTED HIGHLIGHTS
Silver Equivalent Measured & Indicated Resources increased to 76.5 million ounces
Silver Equivalent Inferred Resources increased to 81.8 million ounces
Average Measured and Indicated silver grade increased by 20% to 175 g/t
Total estimated production to reach 7.2 million silver equivalent ounces containing 5.4 million pure silver ounces in 2014
Subsequent to the Technical Report's cut-off date, on August 13, 2012, the Company received the final permit from the Mexican government approving the cyanidation circuit and the enlarged 4,000 tpd plant
Estimated total direct operating costs are $35.00 per tonne and cash costs of $7.05 per ounce of silver on a by-product basis for LOM
Post Tax Net Present Value ("NPV") at 5% discount increased by 30% to US$191.1 million using US$25 silver price
Internal Rate of Return ("IRR") increased from 43% to 49% with a payback period of 3.5 years
Total capital requirement over three years remains $124.2 million, inclusive of a 5% contingency
The Del Toro Silver Mine is 100% owned by First Majestic Silver and there are no royalties payable
