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Bullboard - Stock Discussion Forum First Majestic Silver Corp T.FR

Alternate Symbol(s):  AG

Metals & Mining Silver
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... see more

TSX:FR - Post Discussion

First Majestic Silver Corp > Jerritt Canyon
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Post by hankhenry44 on Mar 21, 2023 10:56am

Jerritt Canyon

Hard to believe Keith got sucked in so bad by Eric Sprott. Paid $470 million for that mine and 100s of millions more to "fix" it. Jerritt Canyon is a GRAVEYARD. There have been numerous operators and they all seem to run it for a while and then sell and get out. Previous operators include Anglogold, Meridian, Quenstake, Yukon Nevada, Sprott and now FR.
Comment by Co2Harvest on Mar 21, 2023 5:37pm
Couple points. 1) Simplywall.st shows that Sprott Mining currently holds 1.8M shares, after all the selling they did earlier in the year. Would they knowingly shoot themselves in the foot on their remaining position like that?  2) Today we ended with the share price at just 30 cents $CAD less than where we were on Feb 27th when insider Todd Anthony (head of Corp Development) picked up 41,000 ...more  
Comment by rockmoney on Mar 22, 2023 1:34pm
Yes, Jerritt Canyon has been a complete disaster. This was always one of the highest cost gold mines in Nevada and no one has been able to make it work. Eric Sprott outplayed Keith big time on this one. Jerritt Canyon will never work and will likely stay closed. Massive writedowns are on the way.
First Majestic Silver Corp
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