First Majestic Silver Corp T.AG

"3.7m oz gold but they think there's an elephant there"

[mattbigham]

This interview is a month old now but informative relating to JC.
3.7m oz of gold defined @ JC.
$10M in drilling there over the next now five months.
Within two years the mill will be properly winterized and ready for production.
Two year program of exploration and mill investment ongoing.
With 200,000 JC Au oz production the current mine portfolio (without the latest acquisition):

" You're pushing 50 million Ag Eq oz.-that's reasonable. 2-3 years. "

19:38

https://www.youtube.com/watch?v=RpI1uwbdip8

[666999]

JC is a big fail, it wont be restarted till 27, thats why Gatos was bought, only Santa Elena is running great, so 1 mine and now Gatos, thats why share price is in toilet....AG is lucky, that metal prices have gone up, Keith can bla bla all day,  but he knows, that he has major problems at mines, once leader in sector has become a laugh...lets see Q3 results, Keith said that they will be much

[beelzeebuub1]

Agreed.. Some blue sky here, but the clouds with JC have not lifted..  JC was a misstep in my humble opinion.   A decent set of Q3 numbers and higher silver prices should be tailwinds tho ! 

[Co2Harvest]

The hardest part for me regarding JC is waiting until 2027 (or later) for it to reopen. Keith said yesterday (Arcadia Economics interview) that it would be making money today at current gold prices. It's hard to see that kind of asset in a parked state but I'm trusting that there's a strategy in play. And maybe the simple answer for now is that they are focusing most of their energy on

[666999]

Forget about JC, and what KN says, again metal prices helped AG, without it would be major problems, AG has to manage cost, but it cant, that is clear, with high grade mines its big fail...

[Co2Harvest]

Nah, I'm in the "Keith is not stupid" camp. He's no dummy, and JC is a strategic asset. Time will certainly tell if my faith is warranted or if I'm a sucker but right now, I'm loving the fact that there are so many doubters out there. That's what creates opportunity. GLTA

[AXPRO]

You might be right, you might be wrong too. It's now an impresiive number of Q's since AG/FR has made a profit. Every flippin' Q report he, KN, pulls a new cost increasing rabbit out of his hat. Even with $28+ per ounce he generates a $40M+ loss. It's my largest position and I go to bed crying as I missed the opportunity to sell at $28+ two years ago. Now hoping it gets back to

[Co2Harvest]

The problem with the last run up to $28 was that it was fake, part of that 2021 silver squeeze/meme-stock run as I recall (I was also invested then). I'm not counting on the price getting back there soon but I plan on trading out at high cycle points and getting back in at low cycle points over the next few years and that there is money to be made that way as we wait for JC to come back online

[666999]

Its not about metal prices, but managing cost down, spending, shure here could be a lot of value, but if mgmt can deliver, this will be clear with Q3 and Q4 results, what is point of holding mine, if you can not run it efficiently, and at this point mgmt has failed big time last 2 years, Santa Elena is only positive asset for now, 

[Co2Harvest]

What I like about failure, is that it's relative. Things eventually turn around so if one believes in the management team as I do, it's a great time to be invested. GLTA

[Co2Harvest]

Well, that didn't take long to get back to $10.  Silver's had a nice week ending at almost $34 (Dec futures). If it continues up from here, the next month could be very interesting for First Majestic with earnings coming out Nov 7. I believe Keith recently said that they used $24 or maybe $25 an ounce for all their financial assumptions  and they've enjoyed higher-than-that

[AXPRO]

Hi Matt...., As long as I've been following and investing in FirstMajestic, KN has been scribbeling about huge number and huge silver prices. JUst for the fun of it, look at Q2 numbers and the Gold to Silver ratio specified. Then take 200K Gold and the current 21+M Silver eq ounces and add them up. How many million silver eq ounces would you be short compared to pushing 50M. I just hope that