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First Majestic Silver Corp T.FR


Primary Symbol: T.AG Alternate Symbol(s):  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

Bullboard Posts
Comment by threecpxon Mar 05, 2008 10:09am
213 Views
Post# 14598728

Common sense: It the profit picture.

Common sense: It the profit picture.In this arena with the current flux in the general market earnings is most and fore front. It is about the preservation of capital. FR story, while it looks very "promissing" has a negative connotation. Cash cost is $6, silver price is $20. That should translate into ample profit with +1Moz production and growing. Problem is mine infrastructure development cost which eats all of it. End result is no profit, -ve net earnings, bank balance declinning and no dividends yet. The only growth is in share holders assets and it comes with depreciation. That part is only goo on a mine sale/take-overs and bankruptcy fillings. What is an ivestor to do ? This is not a 'buy and hold' unless you are a die-hard and looking 5-year down the road. There aren't many in that camp ... not me ... yet. Ride the momentum and trade it until the infrastructure is completed and then it will be all about profit per se & dividend income. Until then ... GLA. Just a thought.
Bullboard Posts