TSXV:NORA.H - Post by User
Post by
RMC12345on Dec 19, 2012 11:57am
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Post# 20750866
I also feel let down but FR is a really good compa
I also feel let down but FR is a really good compa
From a recent First Majecstic News Release:
"The forward sale of base metals can be repaid with metal from any of First Majestic's operations and represents approximately 26% of the Company's total estimated lead production and 33% of its estimated zinc production over this period. The purpose of this contract is to fund continuing expansion plans and for general working capital. "
RE La Preciosa, It is highly likely that infill drilling will move the inferred silver to the indicated category. Orko should have done that and to the degree that it did not, to that degree did they give away the project. If Orko had done the infill drilling ASAP and included this in the PEA. it would not have been sold for $2.76 in FR shares. Besides the La Preciosa deposit and really good land position, FR also gets the $10+ million in the OK treasury.
Nevertheless, although I am very disappointed at the final outcome, I am satisfied to be a FR shareholder and may increase my shareholdings in FR because of the very likely upgrade at La Preciosa due to the infil drilling and exploration on the larger OK land package.