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First Majestic Silver Corp AG


Primary Symbol: T.AG

First Majestic Silver Corp. is a Canada-based mining company focused on silver and gold production in Mexico and the United States. The Company owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada. The San Dimas Silver/Gold Mine is located approximately 130 kilometers (km) northwest of Durango, Durango State, Mexico and consists of 71,868 hectares (ha) of mining claims located in the states of Durango and Sinaloa, Mexico. The Santa Elena Silver/Gold Mine is located 150 km northeast of the city of Hermosillo, Sonora, Mexico and controls mining concessions totaling 102,244 ha. The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon. La Encantada has 4,076 ha of mineral concessions and surface land ownership of 1,343 ha.


TSX:AG - Post by User

Comment by BaldSilverHeadon Feb 28, 2024 11:55am
125 Views
Post# 35904025

RE:RE:RE:RE:Keith has thrown in the towel

RE:RE:RE:RE:Keith has thrown in the towelThis happens heading into recessions. Silver may travel down 10-30% in price but miners will get pelted 80-90%. Its the way it  goes. Some things to give you hope. 1. When the metals do rise, the miners will have to make up that 80-90% ( so buying here will generate several x returns when the Fed lowers rates or a black swan lands NATO direct involvement in Ukraine) 2. Historic PM is 2% (R Rule always mentions this) we are at 0.5% so a reversion to mean is 4 fold. But what he doesn't mention is the float is about 10-15% of that so now youre looking at 0.05 to 2.0 percent. My math says that's 40 fold not including a overshoot above mean. Someone asked my forecasts at end of 2023. I stated Ag down to high teens and FR down to 3.5$, but end of year Ag $40 and FR 20$.I'm just a layman no expert, more of an observer - and yes I got burned in 08' my stocks feel 90% and I believed the gurus that gold and silver would rise. It did regain those losses and double by 11' so I've seen this show before (MINING STOCK ARE A WAY DIFFERENT ANIMAL TGAN THE METAL -AND NOT 100% CORRELATED TO PRICE OF METAL -NOT EVEN CLOSE). So have faith and buy now it may go down more but buy more. Cost average. and Count shares as if stacking (count ounces) This layman believes it will turn this year. Good Luck to ALL !
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