First Majestic Silver Corp. (AG)

[captainscotty]

#AG: HOW ABOUT $8.23.....

[captainscotty]

#AG: BOTTOM FEEDING TIME...

[$theDDmessiah]

Damn

[BottomBounce]

12-month price forecasts for First Majestic Silver Corp $AG have a median target of 12.00, with a high estimate of 19.50 and a low estimate of 7.75. The median estimate represents a +79.78% increase from the last price of 6.68. $AG https://money.cnn.com/quote/forecast/forecast.html?symb=AG

[BottomBounce]

$AG CEO

[BottomBounce]

$AG Precious Metals are ON Fire today
Silver 18.75 +0.09
Platinum 873.00 +18.00
Palladium 1806.00 +24.00
Rhodium 14850.00 +300.00

[Afterhoursearnings3]

Grabbed some here today

[Dragonfart]

Money flowing in now, good to see

[Dragonfart]

No idea, you would think it should be up because of the war

[Goatyak]

Anyone know why this stock is tanking?

[$theDDmessiah]

$CDSG and $AG news

[Family Roots]

If silver gets to $100 we’ll all be flying first class to next shareholders meeting to smoke big fat cigars! At $100 silver, FM would be a 10 bagger in my opinion.

Annual Revenue would grow from $584 million to $3 billion and cash flow would be around $2 billion.

[weedisgreen]

Congratulations to all of us in AG! To me the earnings looked great, increase of dividen, and silver is expected to keep going up. If silver really does go to $100, I wonder I anyone has historical details on how this stock tracked the larger moves in silver prices.

[Family Roots]

Earnings out today - look good

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1082-tsx/fr/117364-first-majestic-announces-financial-results-for-q4-2021-fy2021-quarterly-dividend-payment-appoints-new-cfo.html?utm_source=newsletter_1317&utm_medium=email&utm_campaign=junior-mining-brief-for-date-b-j-y

[Bountiful_Harvest]

AG - over 40% gain in less than month:

https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=AG&insttype=Stock

[Family Roots]

Keith st Global Metals and Mining Conference

https://www.kitco.com/news/2022-03-02/Big-tech-companies-may-buy-silver-miners-soon-says-Keith-Neumeyer.html

[captainscotty]

#AG: ON SALE TODAY.... $9.23

[slimhere]

Silver is up today, no reason at all we should be down that I can find.

Plus:

Silver Could Outperform Gold in 2022

8:50 am ET January 20, 2022 (PR Newswire)

After a year of underperformance, investors may turn to silver again this year. Silver's price action has suffered in 2021 in part due to supply bottlenecks and significantly rising energy costs. Industrial silver will contribute to the precious metal's rally in 2022 as some of the supply chain issues are resolved. A shift to more solar power is another key driver that could drive silver prices higher, according to BofA commodity strategists. Analysts remain bullish on silver, saying the precious metal could outperform gold once the bull market kicks off in 2022. Analysts' price forecast for next year ranges from $24 an ounce to over $30 an ounce, depending on the outlook. The rise in silver price should be beneficial for silver stocks like Summa Silver (TSX-V:SSRV) (OTCQB:SSVRF), First Majestic Silver (NYSE:AG) (TSX:FR), Coeur Mining Inc (NYSE:CDE), Hecla Mining (NYSE:HL), and McEwen Mining (TSX:MUX) (NYSE:MUX).

Summa Silver (TSXV: SSVR) (OTCQB: SSVRF) is a Canadian junior mining exploration company focused on drilling at its two wholly-owned high-grade silver-gold properties in the United States, the Hughes property in Tonopah, Nevada, and the Mogollon Property in New Mexico.

In December, Summa Silver announced additional high-grade silver and gold drill results on the Hughes property. The mining company intersected 702 g/t silver equivalent over 3.9 m from five holes from the Belmont Mine target (rescue veins) and 4,116 g/t silver equivalent over 0.4 m from two holes from the Murray target.

"In less than two years since founding the Company we have now drilled multiple zones of strong mineralization over 3.5 km at the Hughes Property in Nevada. Additionally, surface exploration has revealed that the property features totally un-tested and high-priority targets, several of which are along immediate trend from one of the most prolific and famous historic silver districts in the US," said Summa Silver CEO Galen McNamara. "Substantial amounts of drilling are required both here and on our Mogollon Property in 2022 as we drive towards mineral resource estimates. I anticipate that strong mineralization will be intersected regularly as drilling continues."

Later in December, Summa Silver also provided an update on ongoing drilling on the Mogollon property. The company intersected a 50-meter vein zone with visible mineralization in the first hole. McNamara said that while they did not expect the entire intersection to be high grade, the large area of low sulfidation classic veining in the first hole attests to the prospectivity of the Queen vein and the importance of the mineralization system in general. He added that the hole confirms their modeling of historical mining records and limited exploration drilling of the target, as well as supports the vein's strong potential along with strike and down dip.

[slimhere]

They might be doing a little covering today, silver itself is up nicely for a change, plus Keith has found gold. I believe you've got your wish, he's going to spend a little money and upgrade, I highlighted were it's reported about the upgrade. GL, Happy NY, too


First Majestic Silver reports record production in 2021


(Kitco News) - First Majestic Silver (TSX:FR) reported today that its full year 2021 production reached a new company record of 26.9 million silver equivalent ounces, or a 32% increase over 2020.

The company said that silver production in 2021 reached 12.8 million ounces, compared to 11.6 million ounces in 2020, which slightly missed the lower end of the company's revised guidance range of producing between 13.0 to 13.8 million ounces of silver.

Importantly, the company's gold production in 2021 reached 192,353 ounces, compared to 100,081 in 2020, achieving the higher end of the company's revised guidance range of producing between 181,000 to 194,000 ounces.

"This strong performance was primarily due to the processing of Ermitaño ore at the Santa Elena plant and strong silver and gold grades at San Dimas in the fourth quarter," First Majestic said in a statement.

The company expects 2022 total production from its four operating mines to range between 32.2 to 35.8 million silver equivalent ounces consisting of 12.2 to 13.5 million ounces of silver and 258,000 to 288,000 ounces of gold. Based on the midpoint of the guidance range, the company expects silver equivalent ounces to increase 27% when compared to 2021.

First Majestic added that silver production is expected to remain consistent with 2021 rates whereas gold production is expected to increase by 42% year-over-year.

Detour Lake was the largest gold mine in Canada in Q3 2021; top 10 local mines up production 12% - report

The increase in gold production is primarily due to the ramp up of production at Ermitaño which is known to contain higher amounts of gold and a full year worth of production from Jerritt Canyon, the company noted.

"First Majestic ended the year with its strongest production quarter in the company's 20-year history," said President and CEO Keith Neumeyer. "During the fourth quarter, production at our San Dimas and Santa Elena mines exceeded expectations and reached new records due to a significant improvement in productivity and in silver and gold grades. Consolidated gold production also reached a new record of 192,353 ounces in 2021 due to the acquisition of the Jerritt Canyon mine and the start of production and first pour from the Ermitaño mine at Santa Elena in November."

He added that in 2022, total production is expected to increase between 20% to 33% compared to 2021 primarily due to higher production expected at San Dimas, Santa Elena and a full year of production at Jerritt Canyon.

In addition, he pointed out that the company is planning to invest significantly in exploration and underground development in 2022 in order to prepare a clear path to achieving the company's goal of producing over 40 million silver equivalent ounces by 2024.

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The company presently owns and operates the San Dimas silver/gold mine, the Jerritt Canyon gold mine, the Santa Elena silver/gold mine and the La Encantada silver mine.
By Vladimir Basov

[slimhere]

They were looking, and shorting. I too, added. We are way undervalued at today's prices, Silver itself is way undervalued, to boot. I have zero clue why the price target was dropped to $22.50!

HC Wainwright & Co. Maintains Buy on First Majestic Silver, Lowers Price Target to $22.5
6:28 am ET January 19, 2022 (Benzinga) Print

HC Wainwright & Co. analyst Heiko Ihle maintains First Majestic Silver (NYSE:AG) with a Buy and lowers the price target from $25 to $22.5.

Latest Ratings for AG DateFirmActionFromTo

Jan 2022HC Wainwright & Co.MaintainsBuy Jul 2021HC Wainwright & Co.MaintainsBuy May 2021HC Wainwright & Co.MaintainsBuy

View More Analyst Ratings for AG
View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

[Bountiful_Harvest]

First Majestic Silver reports record production in 2021, achieves annual guidance:

https://www.kitco.com/news/2022-01-18/First-Majestic-Silver-reports-record-production-in-2021-achieves-annual-guidance.html

[weedisgreen]

In my opinion, once the world starts firing on all cylinders again, demand for silver will spike. Imo smart move to hold the inventory.

[power11]

Actually i just initiated a position today in AG.
This is a 100$ stock 3 years out. you have to buy when nobody is
looking.

[Lowjack]

Hard to sell your product when you are $5 over spot/oz.!

Owners will probably demand 50% dividend at your next proxy fight!

[captainscotty]

#AG: 3 QUARTER STELLAR... VOLUME BEFORE PPS... GO slim

[slimhere]

First Majestic Launches Offering of Convertible Senior Notes
7:31 am ET November 29, 2021 (Newsfile) Print

Vancouver, British Columbia--(Newsfile Corp. - November 29, 2021) - First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the "Company" or "First Majestic") announces that it is offering US$200 million aggregate principal amount of unsecured convertible senior notes due 2027 (the "Notes") pursuant to private placement exemptions (the "Offering"). First Majestic expects to grant the initial purchasers of the Notes an option to purchase up to an additional US$30 million aggregate principal amount of Notes. First Majestic intends to use the net proceeds of the Offering to repurchase, in separate privately negotiated transactions, a portion of its outstanding 1.875% convertible senior notes (the "Existing Notes") and for general corporate purposes, including strategic opportunities.

In accordance with the terms of the Existing Notes, First Majestic intends to redeem, following a required 30 day notice period, any Existing Notes that are not converted or repurchased in conjunction with the Offering.

The final terms of the Offering will be determined by First Majestic and the initial purchasers. The Notes will bear cash interest semi-annually at a fixed rate and be convertible by holders into First Majestic common shares (the "Shares"). The Notes will be redeemable by First Majestic at its option in certain circumstances. Holders will have the right to require First Majestic to repurchase their Notes upon the occurrence of certain events.

The Notes and the Shares into which the Notes are convertible, have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act and may not be offered or sold in Canada except pursuant to exemptions from the prospectus requirements of applicable Canadian provincial and territorial securities laws.

This news release is neither an offer to sell nor the solicitation of an offer to buy the Notes or the Shares into which the Notes are convertible, and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or the Shares into which the Notes are convertible in any jurisdiction in which such offer, solicitation or sale is unlawful

[slimhere]

I believe it's said that Wall Street is the place where the prudent man with patients takes the money from the inpatient man.

Hope everyone has a Happy Thanksgiving.

[Family Roots]

Slim, I do not know Keith personally and I have never contacted First Majestic IR directly. I began to follow Keith years ago (2015) when he started First Mining Finance Corp. (now First Mining Gold Corp). I owned shares in a company First Mining acquired and I ended up with their shares. Researching First Mining led me to learn about Keith.

I respect his CEO and mining expertise. First Majestic and First Mining are core holdings in my portfolio. In the last 6 months I took positions in 4 companies that Keith said he invested in. I am down a few percent on those four but have learned that you need to be prudent but also patient in this space.

Enjoy the weekend - let’s see what Monday and the week brings.

[slimhere]

Roots, Do you happen to know Keith? Does IR answer you in a timely manner?

IR does not answer me, what's even worse than they not answering me, I was very nice. That's not always the case with me and the IR departments of different companies.

THe reason I'm asking, clearly, Keith doesn't like folks shorting him, so why doesn't he make a PR about how much bullion he's sitting on. Drives me crazy that we're down. My puts are 12.5's, so I doubt we are going that low, it's just a matter of principle.

Have a good weekend,

Slim

[slimhere]

Thanks for the links, I do not care at all what Zacks says, they are AI driven nonsense, plus, IMO, Seeking ALpha is another horrible site, yes, Quad 7 Capital wrote a positive article (sort of positive) about AG, but Seeking Alpha is a short's dream machine.

Quad 7 Capital gets paid for hits, God Bless them.

I'm going to get paid when AG squeezes :)

[slimhere]

You have me as for what's going on. AG closed down four cents Thursday, $13.90

The hard metal itself:

Silver Futures 25.335 Up 0.563 2.27% (Barrons)

Plus, iShares Silver TrustNYSE Arca:SLV 23.35 up 0.48 2.10%

How does JPM (or any other short) think they can hold AG down? I'm here to watch and learn, I do believe my Puts will close out of the money, but who the hell knows!

[Bountiful_Harvest]

Nice!

First Majestic Silver Price Target Raised to C$23.00/Share From C$20.00 by Cormark Securities

1:05 pm ET November 8, 2021 (Dow Jones)

IMO, Cormark is still to low, C$23 is $18.50 US dollar, I believe AG should be at least twenty bucks, US, which is a tab less than C$25.00

https://www.marketbeat.com/instant-alerts/nyse-ag-a-buy-or-sell-right-now-2021-11-2-3/

https://seekingalpha.com/article/4465525-first-majestic-silver-company-rolling-the-dice

AG

[Family Roots]

Good timing Slim - let’s see some shorts toast out today!

[Family Roots]

Thanks again Slim - a few more days like today and the shorts will be running for the hills!

[slimhere]

First Majestic Silver Price Target Raised to C$23.00/Share From C$20.00 by Cormark Securities

1:05 pm ET November 8, 2021 (Dow Jones)

IMO, Cormark is still to low, C$23 is $18.50 US dollar, I believe AG should be at least twenty bucks, US, which is a tab less than C$25.00

[slimhere]

Happy to provide the little bit of knowledge that I have. I believe you're right about your account not being set up to trade options, you have to sign a release for whatever firm you're trading with, plus you sign that you've read the risk involved in trading options.

Roots, I'd contact your customer service, tell them you want to at least sell cover calls. If you're thinking about selling any stock that you hold, one hundred shares is one contract, you can look at a higher price than the stock is currently trading at, then sell the call. You get to keep the money, BUT, they might call your shares. JPM has a lot of action, check out their table, doesn't cost a thing to look. AG is lightly traded. Today, AG picked up action, also OI is open interest, that means how many outstanding contracts are currently being held by investors.

https://www.investopedia.com › articles › covered-call
When to Sell a Covered Call — A covered call is constructed by holding a long position in a stock and then selling (writing) call options on that ...
?What Is a Covered Call? · ?Profiting from Covered Calls · ?When to Sell a Covered Call

Good Luck

[Family Roots]

Keith is running a great mining company. I’m happy to see him come off the one country one metal approach. I think the diversification will suit them well in the long term. I own a bunch of shares in the Junior gold company (First Mining Gold) that Keith founded in 2015. Would love to see First Majestic put a few of their projects into production in the future.

[Family Roots]

Thanks Slim - I don’t think my account is setup for puts but will check into it - may try a few. Agree that AG should be $20

[slimhere]

Roots,

I couldn't find any evidence that Keith is selling Futures, not sure why, since he is holding the metal, seems like selling high is easy money, I liken it to selling way out of the money calls. You're only getting pennies for a 17-18 call, but if you sell enough of them, you're getting real money.

On another note, should be some short covering with today's report, IMO.

Good Luck,
Slim

[slimhere]

Good to see you Captain, hope all is well

First Majestic Reports Third Quarter Financial Results and Quarterly Dividend Payment
7:01 am ET November 4, 2021 (Newsfile) Print

Vancouver, British Columbia--(Newsfile Corp. - November 4, 2021) - FIRST MAJESTIC SILVER CORP. (NYSE: AG) (TSX: FR) (the "Company" or "First Majestic") is pleased to announce the unaudited interim consolidated financial results of the Company for the third quarter ended September 30, 2021. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

THIRD QUARTER 2021 HIGHLIGHTS

(compared to Q3 2020)

Generated revenues of $124.6 million, representing a 1% decrease due to the decision to withhold 1.4 million ounces of silver in inventory in an effort to maximize future profits. Had the Company sold these ounces at the end of the quarter it would have generated approximately $33.2 million in additional revenue using the quarterly average realized price of $23.10 per ounce
Cash costs increased to $14.09 per AgEq ounce due to the addition of Jerritt Canyon
All-in sustaining costs ("AISC") increased to $19.93 per AgEq ounce primarily due to an increase in sustaining capital costs related to the $12.3 million Tailings Storage Facility 2 ("TSF2") lift project at Jerritt Canyon
Mine operating earnings of $3.5 million during the quarter, compared to earnings of $48.0 million in Q3 2020, the decrease in earnings was primarily attributed to lower silver ounces sold due to the holdback of 1.4 million ounces of silver along with higher costs attributed to the first full quarter of operations at Jerritt Canyon
Net earnings of ($18.4) million attributed to the reduction in revenue as a result of withholding 1.4 million ounces of silver from sales at quarter end
Adjusted EPS of ($0.07) after excluding non-cash and non-recurring items
Cash flow per share of $0.09 (non-GAAP)
Cash and cash equivalents at September 30, 2021 were $192.8 million with strong working capital of $262.5 million
Declared a third quarter cash dividend payment of $0.0049 per common share for shareholders of record as of the close of business on November 17, 2021 which will be distributed on or about November 30, 2021

"Our decision to inventory a significant amount of silver during the quarter obviously impacted our third quarter financial results but those additional revenues and cash flows are expected to be realized in the coming quarters as prices improve," stated Keith Neumeyer, President and CEO. "During the quarter, we also invested in two significant capital projects at Jerritt Canyon which temporarily increased our all-in sustaining costs at the site. With the majority of these investments now complete, we expect a reduction in costs starting in the fourth quarter driven by higher production, reduced capital costs and continued improvements in operating efficiencies. At San Dimas, AISC costs decreased by 19% to $11.58 per ounce due to higher production and higher consumption rates of low-cost energy from our hydro dam when compared to diesel or grid power. At Santa Elena, the mill is preparing to begin test batching low-grade stockpiles from the Ermitaño deposit which is expected to further drive down costs and increase overall production. Finally, the Company declared its third quarter dividend which was also impacted by the lower quarterly revenues due to the withholding of the 1.4 million unsold ounces of silver, however, the upcoming future quarter dividends are expected to increase as this large inventory is divested."

OPERATIONAL AND FINANCIAL HIGHLIGHTS
Key Performance Metrics 2021-Q3 2021-Q2 Change

Q3 vs Q2

2020-Q3 Change

Q3 vs Q3 2021-YTD
Operational
Ore Processed / Tonnes Milled 943,126 826,213 14 % 655,920 44 % 2,383,584
Silver Ounces Produced 3,302,086 3,274,026 1 % 3,158,866 5 % 9,484,135
Silver Equivalent Ounces Produced 7,319,441 6,435,023 14 % 5,201,085 41 % 18,294,760
Cash Costs per Silver Equivalent Ounce (1) $14.09 $13.89 1 % $9.48 49 % $13.65
All-in Sustaining Cost per Silver Equivalent Ounce (1) $19.93 $19.42 3 % $14.01 42 % $19.60
Total Production Cost per Tonne (1) $106.52 $104.94 2 % $71.56 49 % $101.73
Average Realized Silver Price per Ounce (1) $23.10 $27.32 (15 %) $22.58 2 % $25.74

Financial (in $millions)
Revenues $124.6 $154.1 (19 %) $125.9 (1 %) $379.2
Mine Operating Earnings $3.5 $29.4 (88 %) $48.0 (93 %) $61.1
Net (Loss) Earnings ($18.4) $15.6 NM $30.9 NM ($1.0)
Operating Cash Flows before Movements in Working Capital and Taxes $22.6 $51.2 (56 %) $52.2 (57 %) $104.9
Cash and Cash Equivalents $192.8 $227.1 (15 %) $232.4 (17 %) $192.8
Working Capital (1) $262.5 $276.3 (5 %) $266.7 (2 %) $262.5

Shareholders
(Loss) Earnings per Share ("EPS") - Basic ($0.07) $0.06 NM $0.14 NM $0.00
Adjusted EPS (1) ($0.07) $0.05 NM $0.12 NM $0.01
Cash Flow per Share (1) $0.09 $0.21 (58 %) $0.24 (64 %) $0.44



NM - Not meaningful

The Company reports non-GAAP measures which include cash costs per ounce, all-in sustaining cost per ounce, total production cost per ounce, total production cost per tonne, average realized silver price per ounce, working capital, adjusted EPS and cash flow per share. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and may differ from methods used by other companies with similar descriptions. See "Non-GAAP Measures" in the Company's MD&A for a reconciliation of non-GAAP to GAAP measures.

Q3 2021 FINANCIAL RESULTS

The Company realized an average silver price of $23.10 per ounce during the third quarter of 2021, representing a 2% increase compared to $22.58 per ounce in the third quarter of 2020.

Revenues generated in the third quarter totaled $124.6 million compared to $125.9 million in the third quarter of 2020. Revenues in the quarter were impacted primarily due to the temporary withholding of 1.4 million ounces of silver, which remained in the inventory at quarter end. Had the Company sold the withheld inventory, the Company would have generated approximately $33.2 million in additional revenue using the quarterly average realized price of $23.10 per ounce.

The Company realized mine operating earnings of $3.5 million compared with mine operating earnings of $48.0 million in the third quarter of 2020. The decrease in mine operating earnings was primarily attributed to the decision to withhold 1.4 million silver ounces from sale along with higher costs primarily attributed to the first full quarter of operations of Jerritt Canyon.

Earnings for the quarter was ($18.4) million (EPS of ($0.07)) compared to $30.9 million (EPS of $0.14) in the third quarter of 2020.

Adjusted net earnings for the quarter was ($18.1) million (Adjusted EPS of ($0.07)) compared to $25.7 million (Adjusted EPS of $0.12) in the third quarter of 2020, after excluding non-cash and non-recurring items.

Cash flow from operations before movements in working capital and income taxes in the quarter was $22.6 million ($0.09 per share) compared to operating cash flow from operations of $52.2 million ($0.24 per share) in the third quarter of 2020.

Ended the quarter with $192.8 million in cash and cash equivalents as of September 30, 2021. In addition, the Company has a strong working capital position of $262.5 million and total available liquidity of $272.5 million, including a $10 million of available undrawn revolving credit facility.

OPERATIONAL HIGHLIGHTS

The table below represents the quarterly operating and cost parameters at each of the Company's four producing silver and gold mines.
Third Quarter Production Summary San Dimas Santa Elena La Encantada Jerritt Canyon Consolidated
Ore Processed / Tonnes Milled 214,205 234,862 263,645 230,415 943,126
Silver Ounces Produced 1,888,371 508,641 905,074 - 3,302,086
Gold Ounces Produced 20,767 7,498 114 26,145 54,525
Silver Equivalent Ounces Produced 3,422,032 1,061,657 913,481 1,922,270 7,319,441
Cash Costs per Silver Equivalent Ounce $8.29 $17.09 $12.25 N/A $14.09
All-in Sustaining Cost per Silver Equivalent Ounce $11.58 $21.10 $15.28 N/A $19.93
Cash cost per AuEq Ounce N/A N/A N/A $1,735 N/A
All-In sustaining costs per AuEq Ounce N/A N/A N/A $2,286 N/A
Total Production Cost per Tonne $128.67 $75.76 $41.08 $192.17 $106.52



The Company reports non-GAAP measures which include cash costs per ounce, all-in sustaining cost per ounce, total production cost per ounce and total production cost per tonne. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and may differ from methods used by other companies with similar descriptions. See "Non-GAAP Measures" in the Company's MD&A for a reconciliation of non-GAAP to GAAP measures.

The Company produced 7.3 million silver equivalent ounces consisting of 3.3 million ounces of silver and 54,525 ounces of gold, representing an increase of 1% and 17%, respectively, compared to the previous quarter primarily due to a 39% increase in gold production from the Jerritt Canyon operation in Nevada. In the first nine months of 2021, the Company has produced 9.5 million ounces of silver and 124,942 ounces of gold for total production of 18.3 million silver equivalent ounces, or approximately 69% of the Company's 2021 guidance midpoint of producing 25.7 to 27.5 million ounces. Furthermore, the Company anticipates achieving its 2021 production guidance due to expected higher grades at San Dimas, Jerritt Canyon and Santa Elena in the fourth quarter.

COSTS AND CAPITAL EXPENDITURES

Cash cost per ounce for the quarter was $14.09 per AgEq ounce, an increase of 1% from $13.89 per ounce in the previous quarter. The increase in cash cost per AgEq ounce was due to the addition of Jerritt Canyon which was producing at a higher cash cost compared to the previous quarter which was primarily affected by a 14-day planned semi-annual maintenance shutdown of the dual roasters.

AISC in the second quarter was $19.93 per ounce compared to $19.42 per ounce in the previous quarter. The increase in AISC per AgEq ounce was primarily attributed to the TSF2 lift project at Jerritt Canyon. The increase in AISC was partially offset by lower costs at San Dimas and La Encantada as a result of increased rates of production.

Total capital expenditures in the third quarter were $59.7 million, primarily consisting of $22.4 million at Jerritt Canyon, $14.2 million at San Dimas, $15.7 million at Santa Elena (including $9.3 million towards the Ermitaño project), $2.8 million at La Encantada and $4.6 million for strategic projects.

Q3 2021 DIVIDEND ANNOUNCEMENT

The Company is pleased to announce that its Board of Directors has declared a cash dividend payment in the amount of $0.0049 per common share for the third quarter of 2021. The third quarter cash dividend will be paid to holders of record of First Majestic's common shares as of the close of business on November 17, 2021 and will be distributed on or about November 30, 2021.

Under the Company's dividend policy, the quarterly dividend per common share is targeted to equal approximately 1% of the Company's net quarterly revenues divided by the Company's then outstanding common shares on the record date.

The amount and distribution dates of future dividends remain at the discretion of the Board of Directors. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. Dividends paid to shareholders outside Canada (non-resident investors) may be subject to Canadian non-resident withholding taxes.

ABOUT THE COMPANY

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

FOR FURTHER INFORMATION contact [e-mail], visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

"signed"

Keith Neumeyer, President & CEO

[Bountiful_Harvest]

First Majestic making all the right moves. Silver breaks $30, fireworks start...

[captainscotty]

#AG: SOLID REPORT... Held 1.4m Oz of Silver in Inventory..!

First Majestic Silver Produces a Record 7.3m Silver Eqv. Oz in the Third Quarter Consisting of 3.3m Oz Silver and 54,525 Oz Gold;



Suspended Silver Sales and Held 1.4m Oz of Silver in Inventory at Quarter End

http://www.firstmajestic.com/




https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1082-tsx/fr/108146-first-majestic-produces-a-record-7-3m-silver-eqv-oz-in-the-third-quarter-consisting-of-3-3m-oz-silver-and-54-525-oz-gold-suspended-silver-sales-and-held-1-4m-oz-of-silver-in-inventory-at-quarter-end.html


www.firstmajestic.com



Mr. Keith Neumeyer reports:

Vancouver, British Columbia--(Newsfile Corp. - October 12, 2021) - First Majestic Silver Corp. (TSX: FR) (NYSE: AG) (FSE: FMV) ("First Majestic" or the "Company") announces that total production in the third quarter of 2021 from the Company's four producing operations, the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine, reached a new record of 7.3 million silver equivalent ounces consisting of 3.3 million ounces of silver and 54,525 ounces of gold. In the first nine months of 2021, the Company has produced 9.5 million ounces of silver and 124,942 ounces of gold for total production of 18.3 million silver equivalent ounces, or approximately 69% of the Company's 2021 guidance midpoint of producing 25.7 to 27.5 million ounces. The Company's financial results for the third quarter of 2021 are scheduled to be released on Thursday, November 4, 2021.






THIRD QUARTER HIGHLIGHTS

Total Production up 14%: The Company produced 7.3 million silver equivalent ounces consisting of 3.3 million ounces of silver and 54,525 ounces of gold, representing an increase of 1% and 17%, respectively, compared to the previous quarter primarily due to a 39% increase in gold production from the Jerritt Canyon operation in Nevada.

Withheld 1.4 Million Ounces of Silver: At the end of the quarter, the Company held 1.4 million ounces of silver in inventory due to suppressed silver prices in the third quarter. Silver sales are anticipated to resume in the fourth quarter. Furthermore, the Company has not withheld sales of any of its gold production.

Stockpiling Higher Grade Material at Ermitaño: During the quarter, the Company continued extracting mineralized material from the development of the Ermitaño deposit at Sant Elena. At quarter end, a total of 45,271 tonnes of mineralized material grading 4.0 g/t gold and 41 g/t silver have been placed in surface stockpiles. Over the next few months, the Company anticipates initial batch test processing to begin at the Santa Elena processing plant.

Major Capital Projects Continue at Jerritt Canyon: During the quarter, the Company completed the structural fill for the tailings lift on TSF2 and installed approximately 25% of the new liner. In addition, the annual maintenance overhaul for the dual roasters was near completion at the end of September. As a result of this planned 14-day maintenance shutdown, approximately 30K tonnes of ore were added to surface stockpiles which are expected to be processed in the fourth quarter.

27 Active Drill Rigs: The Company completed a total of 50,472 metres in exploration drilling across the Company's mines during the quarter. At the end of the quarter, a total of 27 exploration drill rigs were active consisting of 12 rigs at San Dimas, six at Jerritt Canyon, seven rigs at Santa Elena and two rigs at La Encantada.
"We had a very strong quarter with total production achieving a new record of 7.3 million silver equivalent ounces representing a 14% increase compared to the prior quarter," said Keith Neumeyer, President and CEO. "The record quarter was primarily due to having a full quarter of production from the Jerritt Canyon operation in addition to continued strong production performance at San Dimas and La Encantada. Santa Elena is now at the cusp of a significant step-up in production and cost reduction as we prepare the plant for initial production from the Ermitaño area in the coming months. Looking ahead, we anticipate higher grades to drive production growth at San Dimas, Jerritt Canyon and Santa Elena in the fourth quarter and into 2022. Finally, due to the relative weakness in the silver price throughout the quarter, we decided to suspend silver sales for the third time in the Company's history in an attempt to realize higher prices."




QUARTERLY REVIEW

Total ore processed during the quarter at the Company's mines amounted to 943,126 tonnes, representing a 14% increase compared to the previous quarter. The increase in tonnes processed was primarily due to a 57% increase in tonnes milled at the Jerritt Canyon operation in addition to a 9% increase in tonnes milled at La Encantada.

Consolidated silver and gold grades in the quarter averaged 122 g/t and 2.00 g/t, respectively. Consolidated silver grades at the three Mexican mines decreased 4% compared to the prior quarter primarily due to slightly lower grades at San Dimas and La Encantada. Consolidated gold grades increased 11% compared to the prior quarter due to higher processed tonnes at Jerritt Canyon and higher gold grades at San Dimas in the quarter.

Consolidated silver and gold recoveries both averaged 90% during the quarter.

MINE BY MINE PRODUCTION TABLE







At the San Dimas Silver/Gold Mine:

San Dimas produced 1,888,371 ounces of silver and 20,767 ounces of gold representing an increase of 1% and 8%, respectively, compared to the prior quarter for total production of 3,422,032 silver equivalent ounces.
The mill processed a total of 214,205 tonnes with average silver and gold grades of 289 g/t and 3.14 g/t, respectively. Silver and gold grades are expected to increase in the fourth quarter as a major high-grade area within the Jessica vein of the Central Block was brought online in September.
Silver and gold recoveries during the quarter averaged 95% and 96%, respectively.
The Central Block and Sinaloa Graben areas contributed approximately 62% and 29%, respectively, of the total production during the quarter. In addition, the Tayoltita, El Cristo and West Block areas contributed approximately 9% of total production in the quarter.
A total of 12 drill rigs, consisting of two surface rigs and 10 underground rigs, were active at the end of the quarter.
At the Jerritt Canyon Gold Mine:

During the quarter, Jerritt Canyon produced 26,145 ounces of gold, representing a 39% increase compared to the prior quarter. The increase was primarily due to achieving a full quarter of production under the Company's ownership as well as improved underground mine and plant production rates.
The mill processed a total of 230,415 tonnes with an average gold grade and recovery of 4.19 g/t and 84%, respectively. Increased ore development rates and processing of lower ore grade from surface material continued during the quarter which resulted in higher tonnage with lower average ore grades processed in the plant.
The Company mostly completed its annual maintenance overhaul of the dual roasters at the end of September which resulted in an increased ore stockpile of approximately 30K tonnes due to a planned 14-day maintenance shutdown. This large surface stockpile is expected to be processed in the fourth quarter. In addition, construction activities to lift tailings storage facility #2 advanced with the completion of the structural fill and approximately 25% of the new liner installation. The lift project remains ahead of schedule with expected completion in November.
The SSX and Smith mines contributed approximately 42% and 38%, respectively, of the total production during the quarter. In addition, numerous surface areas contributed approximately 20% of total production during the quarter.
At the end of the quarter, the underground connection drift between the SSX and Smith mines was approximately 75% complete and the project remains on schedule for completion by the end of the year. The new connection is expected to reduce transportation bottlenecks and improve movement efficiencies of personnel and equipment. In addition, the connection drift is expected to support future exploration activities.
A total of six drill rigs, consisting of three surface rigs and three underground rigs, were active at the end of the quarter.
At the Santa Elena Silver/Gold Mine:

During the quarter, Santa Elena produced 508,641 ounces of silver and 7,498 ounces of gold representing a decrease of 10% and 11%, respectively, compared to the prior quarter for a total production of 1,061,657 silver equivalent ounces.
The mill processed a total of 234,862 tonnes consisting of 160,012 tonnes of underground ore and 74,850 tonnes from the existing heap leach pad. Underground production rates were slightly lower than budget due to the loss of the main ventilation fan in August which restricted mining in the 290 level of the Main vein. A new ventilation fan was successfully installed in September and underground rates returned to normal levels.
Silver and gold grades from underground ore averaged 92 g/t and 1.23 g/t, respectively, while silver and gold grades from the heap leach pad averaged 37 g/t and 0.63 g/t, respectively.
Silver and gold recoveries averaged 91% and 96%, respectively, during the quarter.
At the Ermitaño project near the Santa Elena plant, extraction of mineralized material from the development of the Ermitaño orebody continued with a total of 45,271 tonnes of material grading 4.0 g/t gold and 41 g/t silver containing approximately 5,800 ounces of gold and 59,640 ounces of silver are now in surface stockpiles. The Company is planning to begin initial batch testing at the Santa Elena processing plant in the coming months. In addition, the main access road connecting the new mine to the Santa Elena processing plant is now approximately 80% complete.
The lab at Santa Elena completed and passed its ISO 9001 surveillance audit determining the facility is fully compliant with the management system quality standards for sample preparation, geochemical and assay services.
A total of seven drill rigs, consisting of four surface rigs and three underground rigs, were active at the end of the quarter.
At the La Encantada Silver Mine:

During the quarter, La Encantada produced 905,074 ounces of silver, representing an 8% increase in ounces compared to the prior quarter. The increase was primarily due to a 9% increase in tonnes processed.
The mill processed a total of 263,645 tonnes with an average silver grade and recovery of 134 g/t and 80%, respectively.
The La Prieta and San Javier caving areas contributed approximately 77% and 3%, respectively, of the total production during the quarter. In addition, previously mined backfill areas contributed approximately 20% of total production in the quarter.
During the quarter, the Company entered into a surface access agreement with the Tenochtitlan Ejido on 10,100 hectares of land covering the Company's mineral concessions at La Encantada. This new agreement allows the Company, for the first time since owning the mine, to initiate surface exploration programs on this large ejido land package.
A total of two drill rigs, consisting of one surface rig and one underground rig, were active at the end of the quarter.
Q3 EARNINGS AND DIVIDEND ANNOUNCEMENT

The Company is planning to release its third quarter 2021 unaudited financial results, and to announce the third quarter dividend payment, and shareholder record and payable dates on Thursday, November 4, 2021.

ABOUT THE COMPANY

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

FOR FURTHER INFORMATION contact [e-mail], visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

"signed"

Keith Neumeyer, President & CEO

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; commercial mining operations; cash flow; budgets; the timing and amount of estimated future production; ore grades; recovery rates; mine plans and mine life; integration of operations; future sales; the future price of silver and other metals; costs of production; costs and timing of development at the Company's projects; commencement of initial batch test processing at the Santa Elena processing plant; capital projects and exploration activities and the possible results thereof. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements".

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19, and any other pandemics on our operations and workforce, and the effects on global economies and society, risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in the Company's most recent Annual Information Form, available on www.sedar.com, and Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although First Majestic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

[captainscotty]

AG: WHY DO THEY MAKE IT SO EASY... $12.62


http://www.kitco.com/images/live/silver.gif



SILVER...$23.50......

[Bountiful_Harvest]

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1082-tsx/fr/108146-first-majestic-produces-a-record-7-3m-silver-eqv-oz-in-the-third-quarter-consisting-of-3-3m-oz-silver-and-54-525-oz-gold-suspended-silver-sales-and-held-1-4m-oz-of-silver-in-inventory-at-quarter-end.html

[Bountiful_Harvest]

Site Visit to Jerritt Canyon Gold Mine in Nevada w/ @GarrettGoggin from @Stansberry… @FMSilverCorp - https://t.co/PUYqkqlHWK via @YouTube @GNAFinancial @TheGoldAdvisor $AG $FR.TO #gold #silver #BreaktheComex Buy Physical !!!

— Keith Neumeyer (@keith_neumeyer) October 26, 2021

Problem solvedhttps://t.co/Ci5ZmpuYwJ pic.twitter.com/ROAfYLst4O

— David Morgan (@silverguru22) October 13, 2021

[slimhere]

Pretty easy, I sell ten contracts below what AG is trading at, so that would be the 12.5 contracts.

Sell to Open 10 AG Nov 05 2021 12.5 Put Market 0.33

I use TD-Ameritrade, they charge $6.50 for the trade, if AG is trading less than 12.50 next Friday, I'll buy a thousand shares at 12.50, even if it's trading for ten bucks. However, if it's trading for twenty bucks (where it should be) I get to keep the $330.00 less their commission. This week I'm going to buy at 13.00

I watch the price of silver listed on Barrons plus iShares Silver Trust, SLV, I love that Keith didn't sell his silver, that tells me that someone is toying with our share price, plus Keith has enough money to run our mines. I'll keep buying AG, sooner or later, Silver is going to shine and whomever is shorting AG is going to be sorry.

Roots, I think I've been doing this from 18 or so, perhaps higher. I also do the same with SLV, funny thing about that, I hardly own any SLV compared to AG. (sold 22 puts for about $240.00)

IMO, when AG reported the extra gold in the last quarter, AG should have move (as in jumped) up in share price, something stinks. IMO

[Family Roots]

Slim - you, Keith and I are in sync on where we think the price of silver is heading. I have been more traditional in my investment strategy. I own shares In several silver companies and the PSLV. One day you’ll have to explain to me in more detail your put strategy.

[slimhere]

Roots, I have been selling ten put contracts (1 Stack) for the past nine months, when the puts are put to me, I buy and hold. Like Keith, I do not sell calls on my shares for I too, think silver is undervalued.

The demand for silver has increased with 5G, an area that never existed. They are also using silver in windows to reduce heat loss as well as as a heat reflector. I'm way to foolish to know how or why this works, yet I'm smart enough to know that these new usages for the metal certainly increases the demand.

Conclusion, I agree with Keith. I also know that I never dreamed when I started selling a stack of puts each week that I would accumulate as many shares as I own.

Take care, Slim

[Family Roots]

Appreciate your opinion - sure he’s not everyone’s cup of tea. Had to think about the Pocahontas comment - but the bulb finally went on. Good one!

[Family Roots]

Slimhere - no crime in second guessing Keith. I think he is a great miner and have followed him for years. He’s been predicting triple digit silver for years and that hasn’t materialized. So we have to say he has been wrong on that call. I do think he is sincere in his belief that silver should be much higher - that is why I have hung in there with First Majestic. I think in time Keith will be redeemed and many of these shorts will get toasted - the amount of government debt, the supply/demand imbalance and runaway inflation will drive silver much higher IMO. I’m strapped in for the ride!