First Majestic Silver
Financials:
Primary ticker: NYSE:AG
Stage of development: Production
Primary minerals: Silver, Gold
Project to promote: Four producing silver & gold mines
Project location: Mexico, USA
Website: www.firstmajestic.com
Corporate presentation: Click here
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine and the Jerritt Canyon Gold Mine. First Majestic also produces .999 silver bullion for purchase as well.
Cash: USD192M
Debt: USD230M
Major shareholders:
Van Eck 10.2%
Eric Sprott 10%
ETF Managers Group 3.3%
The Vanguard Group 2.6%
Susquehanna International Group 1.7%
Management Ownership – 2%
Management Profile
Keith Neumeyer – President & CEO
Mr. Neumeyer has worked in the investment community since 1984. He began his career at a number of Canadian national brokerage firms. Mr. Neumeyer moved on to work with several publicly-traded companies in the resource and high technology sectors. His roles have included senior management positions and directorships responsible in areas of finance, business development, strategic planning and corporate restructuring. Mr. Neumeyer was the original and founding President of First Quantum Minerals Ltd. (T-FM). Mr. Neumeyer founded First Majestic Silver in 2002 and First Mining Gold in 2015. Mr. Neumeyer has also listed a number of companies on the Toronto Stock Exchange and as such has extensive experience dealing with the financial, regulatory, legal and accounting issues that are relevant in the investment community. Mr. Neumeyer also won the E&Y Entrepreneur of the Year Award in 2011 for the Metals & Mining category.
What is your rationale for taking part 121 Mining Investment?
To update our North American shareholders on the progress of the Company
What recent news would you like to highlight to investors attending?
Recent record breaking Q4’21 production results, initial production from the Ermitaño mine at Santa Elena and the Jerritt Canyon acquisition.
What are your key goals for the next 12 months?
The key goals of First Majestic are to continue to grow production through smart accretive M&A transactions, lower costs, invest in R&D, while remaining an industry leader in innovation and processing technologies. The Company’s main focus is on becoming the world’s largest primary silver producer.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Fluctuating commodity prices, inflation and COVID.
What do you think makes your company such a compelling investment?
Silver and gold prices had a disappointing return in 2021, closing out the year to the downside. Whereas many other commodities prices either hit a new all time high, or moved significantly higher on the back of inflation and supply chain concerns. Historically, in times of inflation silver and gold prices have moved higher.
Recently the stock was trading at multi-year lows. Offering an enticing entry point for investors.
A strong history of production growth over time through smart accretive M&A transactions as well as greenfield development. The Company recently provided 2022’s production guidance of approximately 34 million ounces of silver equivalent, with the goal of achieving over 40 million equivalent ounces by 2024.
What are the top key investor takeaways?
1) Leverage and purity to silver
2) Experienced management team, “turn around experts”
3) Production up, costs down