First Majestic reports FY19 total production of 25.6M silver equivalent ounces » 07:1602/1902/19/20
Silver production reached…
Silver production reached 13.2M ounces of silver, a 13% increase over 2018, and inline with the Company's guidance range of 12.8 to 13.5M ounces.
First Majestic reports Q4 total production of 6.2M silver equivalent ounces » 07:1602/1902/19/20
Produced 3.3 million…
Produced 3.3 million ounces of silver, 33,176 ounces of gold and 0.9 million pounds of lead for a total of 6.2 million silver equivalent ounces.
First Majestic reports Q4 adj. EPS 0c, two est. (2c) » 07:1402/1902/19/20
Reports Q4 revenue…
Reports Q4 revenue $96.5M, one est. $66M. "First Majestic had another strong year generating record revenues and ending the year with the highest cash balance in the Company's 18-year history," said Keith Neumeyer, President and CEO of First Majestic. "Production also achieved a new record of 25.6 million silver equivalent ounces following grade and metallurgical recovery improvements at our Santa Elena and La Encantada operations. These operational improvements helped to drive a 15% reduction in our AISC for the year to $12.64 per ounce, making it our lowest AISC per ounce since 2016 and a healthy beat to our annual cost guidance range of $12.98 to $13.94 per ounce. We continue to lead the industry as the purest silver producer and remain focused on improving margins through the adoption of new technologies."
First Majestic Silver call volume above normal and directionally bullish » 15:4502/1802/18/20
Bullish option flow…
Bullish option flow detected in First Majestic Silver with 9,110 calls trading, 2x expected, and implied vol increasing almost 2 points to 53.70%. Feb-20 10 calls and Jul-20 10 calls are the most active options, with total volume in those strikes near 1,900 contracts. The Put/Call Ratio is 0.16. Earnings are expected on February 19th.
|Over a week ago|
Largest borrow rate increases among liquid names » 08:4502/0702/07/20
NTRP, KALA, KL, ARLP, AG, CGC, PTON, CVE, INO, PAYS
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Neurotrope (NTRP) 83.38% +1.08, Kala Pharmaceuticals (KALA) 15.14% +1.03, Kirkland Lake Gold (KL) 0.92% +0.52, Alliance Resource Partners (ARLP) 24.27% +0.45, First Majestic Silver (AG) 0.81% +0.34, Canopy Growth (CGC) 57.42% +0.33, Peloton Interactive (PTON) 63.41% +0.28, Cenovus Energy (CVE) 0.49% +0.24, Inovio (INO) 8.85% +0.19, and Paysign (PAYS) 17.80% +0.14.
First Majestic Silver call volume above normal and directionally bullish » 11:2502/0302/03/20
Bullish option flow…
Bullish option flow detected in First Majestic Silver with 3,687 calls trading, 1.5x expected, and implied vol increasing over 1 point to 53.63%. Jan-21 10 calls and Apr-20 9 calls are the most active options, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 0.17. Earnings are expected on February 19th.
First Majestic appoints Steve Holmes as COO » 11:0202/0302/03/20
First Majestic Silver…
First Majestic Silver Corp. (AG) announced the appointment of Steve Holmes to the role of COO. Holmes will be responsible for overseeing all operational functions at the Company's Mexican portfolio of silver mines and projects. Prior to joining First Majestic, Mr. Holmes held the position of VP, Joint Venture Portfolio at Barrick Gold (GOLD).
|Over a month ago|
First Majestic to host conference call » 10:2501/2101/21/20
Conference call to…
Conference call to discuss the quarterly production results, 2020 production cost and capital guidance will be held on January 21 at 11 am. Webcast Link
First Majestic to install HIG mill technology at San Dimas, La Encantada mines » 07:1101/2101/21/20
As a result of…
As a result of significant improvements in metallurgical recoveries at Santa Elena following the installation of the 3,000 tpd HIG mill circuit in 2019, the Company has elected to install HIG mill technology at its San Dimas and La Encantada mines in 2020 and 2021, respectively. At San Dimas, the Company plans to install a new 3,000 tpd HIG mill circuit in 2020 to further improve recoveries and reduce operating costs. The delivery of the HIG mill is expected in the first quarter of 2020 followed by installation and commissioning in the second half of 2020. Furthermore, milling at San Dimas will be converted into a single AG grinding mill thereby eliminating the use of the three standard ball mills currently in operation. This AG conversion is expected to reduce energy consumption, eliminate steel grinding media, improve metallurgical recoveries and streamline maintenance and mill practices. At Santa Elena, the Company plans to implement a dual-circuit flowsheet to separate the ultra-fine and coarse particles prior to leaching to further improve metallurgical recoveries and reduce operating costs. Separating the different sized particles allows for more effective use of available retention time, decreased reagent consumption and improved filtration circuit performance. Additionally, a new AG/SAG mill circuit is expected to be commissioned by the end of 2020. At La Encantada, the Company plans to invest in several plant modernizations in 2020 intended to improve processing efficiencies including, but not limited to: upgrading the tailings filter presses and belt conveyors; replacing the main gear and rakes for two thickeners; as well as completing the detailed engineering design in the second half of 2020 for a new 3,000 tpd HIG mill circuit, which is expected to be installed and commissioned in 2021.
First Majestic to invest $171.5M on capex in 2020 » 07:1001/2101/21/20
In 2020, the Company…
In 2020, the Company plans to invest a total of $171.5 million on capital expenditures consisting of $52.6 million for sustaining investments and $118.9 million for expansionary projects. This represents a 24% increase compared to the revised 2019 capital budget and is aligned with the Company's future growth strategy of investments in HIG mill technology, processing plant modernizations and underground development of the Ermitano project to prepare the mine for production in early 2021. The 2020 annual budget includes total capital investments of $62.9 million to be spent on underground development; $32.9 million towards property, plant and equipment; $28.2 million in exploration; and $47.5 million towards corporate automation and efficiency projects. Additionally, the Company has been working on reducing its general and administration costs to rightsize the business due to the suspension of operations at Del Toro and La Parrilla. Management may revise the guidance and budget during the year to reflect actual and anticipated changes in metal prices or to the business. The Company plans to complete a total of approximately 38,650 metres of underground development in 2020 compared with 54,517 metres completed in 2019. This 29% decrease is primarily due to the recent suspension of mining activities at the San Martin, La Parrilla and Del Toro mines. The 2020 development program consists of approximately 23,750 metres at San Dimas; 6,100 metres at Santa Elena; 4,450 metres at La Encantada; 3,800 metres at the Ermitano project near Santa Elena; and 550 metres at Del Toro. The Company also plans to complete approximately 192,900 metres of exploration drilling in 2020 compared to 204,371 metres completed in 2019. The 2020 drilling program consists of approximately 84,750 metres at San Dimas intended to add new mineral resources with a focus on the West, Central, and Tayoltita blocks; 30,500 metres at Santa Elena to continue exploring the Main and America veins and test greenfield targets around Los Hernandez; 21,200 metres at La Encantada with an emphasis on exploring the mineral potential of several brownfield targets; 15,000 metres at the Ermitano project intended to increase resource confidence and add new mineral resources; and 22,450 metres at Del Toro and 19,000 metres at La Parrilla intended to test new brownfield and near mine targets.