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Company Statement
First Majestic Silver Corp. is committed to building a senior Silver producing mining company based on an aggressive development and acquisition plan with a focus on Mexico. The Company presently owns and operates three producing silver mines in Mexico; the La Parrilla Silver Mine, the San Martin Silver Mine and the La Encantada Silver Mine. Production from these three mines is anticipated to be approximately 5.7 - 6.0 million ounces of silver in 2009 with further increases in 2010 and beyond.
Management of First Majestic is committed to building a senior silver producing mining company based on an aggressive acquisition and development plan with a focus on Mexico.
First Majestic owns three producing silver mines, the La Parrilla Silver Mine, the San Martin Silver MIne & the La Encantada Silver Mine.
The La Parrilla is located conveniently outside the city of Durango. First Majestic commissioned a new 800tpd mill in mid 2007 and is expected to produce close to 2.0 million ounces of Silver at the La Parrilla in 2008.
First Majestic's second operating mine, the San Martin Silver Mine is operating at 800tpd, with an annualized production of approximately of 1.5 million ounces of silver.
First Majestic's third operating mine; the La Encantada Silver Mine also has an 800 tpd mill and is expected to produce close to 2.0 million ounces of silver in 2008. This operation is presently being expanded to 3500 tpd which is anticpated to be fully running at this new capaicty by the second quarter of 2009 bringing annual production up to 3.5 million ounces.
Management feels strongly that investors will continue to witness a dramatic bull market in precious metals over the coming years. For this reason, a focus to continue to develop and increase production at its core assets will continue. In addition, management is determined to expand First Majestic's asset base and thus continues to investigate other interesting advanced stage silver projects in Mexico. With a Management team comprised of proven company and mine builders; shareholders are poised to capitalize on First Majestic's rapid evolution into a world class silver producer.
Current Operations
La Parrilla Silver Mine - Durango, Mexico
The La Parrilla Silver Mine is 100% owned and includes an 800 tpd cyanide mill and a land package consisting of 53,000 hectares. The area has never been explored using modern exploration techniques. The mine has been in continuous production since 1983 and produces approximately 2.0 million ounces of silver per year. First Majestic is focused on increasing its silver resources while at the same time maintaining production at present levels through 2007 and increasing production in 2008
San Martin Silver Mine
The San Martín Silver Mine is 100% owned and includes an 800 tpd cyanide mill and a land package consisting of 7840 hectares of which First Majestic owns 1482 hectares of the surface rights. It is located in Bolanos , Mexico which is a 45 minute flight from Guadalajara. The opportunity which First Majestic identified was to make the necessary investments in development, exploration and mill improvements to not only increase the 43-101 compliant silver Resources, but also increase silver production from current levels
Other properties:
La Encantada Silver Mine
The Del Toro Silver Mine
San Juan mine
Perseverancia mine
Geographical Spread
Board of Directors and Key Management
| Keith Neumeyer | President & CEO |
| Ramon Davila | Chief Operating Officer |
| Raymond Polman | Chief Financial Officer |
| Robert McCallum | Chairman |
| Connie Lillico | Corporate Secretary |
| Mr. Douglas Penrose | Director |
| David A. Shaw | Director |
| Tony Pezzotti | Director |
| Mr. Robert Young | Director |
Company AddressSuite 1805, 925 West Georgia Street
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Additional Address/Key ContactPresident & CEO: Keith Neumeyer: |
CapitalShares Issued and Outstanding: 82,341,636
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Related News
02/12/09 - First Majestic Has Bounced Back From Last Year’s Financial Chaos, And Should Produce 4.5 Million Ounces Of Silver This Year23/09/09 - First Majestic Silver Aims To More Than Double Production To 12 Million Ounces Of Silver By 2012
28/04/09 - First Majestic Aims To Capitalize On A Bullish Outlook For Silver By Increasing Production To Over 8 Million Ounces Per Year
10/11/08 - The Clouds Currently Hanging Over First Majestic Almost Certainly Have A Silver Lining
22/04/08 - If Everything Continues To Go To Plan First Majestic Could Be A Dividend Payer in 2010
Most Recent Statement
18/09/09 - Settlement of Current Liabilities Closes16/09/09 - Second Tranche of Non-Brokered Private Placement Closes
14/09/09 - First Majestic Silver Corp
20/08/09 - First Tranche of Non-Brokered Private Placement Closes
14/08/09 - Second Quarter Financial Results
13/08/09 - First Majestic Silver Joins OTCQX