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Citadel has to know that this just isn't the time to call $500 million from Gabe Plotkin at Mervile, they do not have the money, why? They too, are still short AMC.
I believe the Futures Deadline for rolling to the next quarter is Huge, I believe that caused the June run and it should cause another one in September, you have to roll before 9/9.
IMO, we are at a cross road. Hodl
Yes, it's to damn bad that King SilverBack AA doesn't know enough to be selling you those shirts, AMC needs revenues, but AA has to look into shelf space, Lord Have Mercy!
I ran into an Ape at Virginia Beach with 3 shares, I am aspiring to be as proud of my shares as he was of his 3 shares.
We are a movement as well as a community, yes, Ape life!
Here's another interesting little cup and paste to chew on taken from this link:
https://www.reddit.com/r/Superstonk/comments/pb22oj/the_puzzle_pieces_of_quarterly_movements_equity/
The anomaly in February, honestly, could have been them pulling the risk from Archegos if Archegos was indeed short GameStop. Pull them off of the table before they go under and really bring things down.
Basically, they sold Bill Hwang down the river to save the good old boy's club.
Also cut:
Friday, March 26, when investors around the world learned that a company called Archegos had defaulted on loans used to build a staggering $100 billion portfolio, the first question was, “Who on earth is Bill Hwang?” Because he was using borrowed money and levering up his bets fivefold, Hwang’s collapse left a trail of destruction. Banks dumped his holdings, savaging stock prices. Credit Suisse Group AG, one of Hwang’s lenders, lost $4.7 billion; several top executives, including the head of investment banking, have been forced out. Nomura Holdings Inc. faces a loss of about $2 billion.
https://www.bloomberg.com/news/features/2021-04-08/how-bill-hwang-of-archegos-capital-lost-20-billion-in-two-days
This Headline was posted earlier, here's the whole article.
Citadel to Redeem About $500 Million From Melvin Capital
Citadel invested in Melvin’s hedge fund as Melvin’s losses mounted during the January meme-stock rally
Melvin Capital Management founder Gabe Plotkin spoke to a U.S. House committee in February over trading of GameStop shares.
Photo: House Committee on Financial Services/Reuters
By
Aug. 21, 2021 8:53 am ET
Ken Griffin’s Citadel LLC and Citadel partners are planning to redeem roughly $500 million of the $2 billion they put in Melvin Capital Management after Melvin got slammed by bad short bets on GameStop Corp. GME -0.13% and other soaring stocks, said people familiar with the matter.
Citadel and Steven A. Cohen’s Point72 Asset Management together invested $2.75 billion into Melvin’s hedge fund on Jan. 25 as Melvin was hemorrhaging money. In return for the rare intra-month investments, the two firms received non-controlling revenue shares in Melvin for three years. The arrangement means they share in the management and performance fees Melvin collects from its clients over that time but don’t get any control over Melvin or its investments.
Citadel will keep its revenue share, some of the people familiar with the matter said. It couldn’t be determined Friday if Citadel plans to redeem additional money later, but a person familiar with Citadel said it expected to remain a large investor.
Founded by Gabe Plotkin, a former star portfolio manager for Mr. Cohen, Melvin had been one of the best-performing hedge funds in recent years until the meme-stock misadventure in January upended its portfolio. Individual investors banding together on forums like Reddit and Discord claimed victory for driving up shares of GameStop and other companies. Some hedge funds profited from the unprecedented market moves. Melvin lost 54.5%, or more than $6 billion, in just a few weeks.
The dizzying ascent of a handful of stocks, plus mounting losses at Melvin and other prominent hedge funds including Point72 and D1 Capital Partners, transfixed Wall Street and individual investors and sparked a congressional hearing, regulatory inquiries and federal probes.
Citadel, a more than $38 billion hedge-fund firm that employs teams of traders, rarely has had such a sizable investment with an outside manager before, said people familiar with the firm. Still, it has a history of swooping in when other funds are in distress, making billions from buying distressed assets from the failed hedge funds Amaranth Advisors LLC and Sowood Capital Management LP, as well as Enron Corp.
https://www.wsj.com/articles/citadel-to-redeem-about-500-million-from-melvin-capital-11629550410?page=1
If you sell naked puts (which I do do) and they are put to you, AND you're close to the line of your maintenance requirement, then yes, you will go over the line and get a margin call on Monday. Friday is just another day.
Smart Apes do not trade on Margin.
Oh dear, you missed read that, the SEC said they are looking out "at us" not for us, you had it right earlier, we look out for ourselves. C'Dave had it right, SEC are not our friend, Gensler is a weasel looking out for the 1%ers, or other active predators.
I too, take time off from this board, when I piss and moan about AMC, I'm called a short or day trader; either is anyone's business. I am this, I'm upset that only one person responded to your post, it was spot on. I think I like you! Hopefully, others will go back and see what you said, clearly, I'm way behind in my reading. Hopefully, more good stuff (like your post) awaits me!
Not everyone, I for one, wrote IR and told AA he's no Ape, I received a nice response thanking me for my support of AMC.
Zero gratitude for the Apes that saved his sorry ass, he's pretty busy patting himself on the back to realize he needed us, yes, he got loans but that was due to share price, without us, Citadel would have had AMC SP less than a dollar.
He wouldn't even give us a Mascot, claimed he needed to look at shelf space, does Trey have shelf space? Damn, AMC has a nice web site, just looking to sell anything and everything. AMC needs revenues to help maintain share price, AA needs to open his eyes to the Movement, it's not about him.
I agree, he wouldn't even give the APes their Mascot.
Loves to boost how the Apes are his owners, his Boss. Does he really think that the Apes sold 200 million shares the past two days, AA needs to wake up and help his owners.
Don't count on it, I feel you, AA is worried and operates for himself, not for us.
Powell is crazy with his QE, but it is what it is.
Campbell Soup Company has added a new event to its website:
Q4 2021 Campbell Soup Company Earnings Conference Call
Click here for a complete listing of Campbell Soup Company events.
Neb, this might not be links, if not, sorry
Our CEO needs to act like an Ape and let Gensler know that enough is enough, rather he claims it's all derivatives, nonsense.
Smart move, people are still going to eat, regardless of what Piper Sandler things, plus more soup in winter season. CPB is hurt by Biden's free money policy, when the checks come, employees that time off. Earning are next week, I'm going to be coming into some money next week, I'm buying more, too.
Campbell Soup Cut to Neutral From Overweight by Piper Sandler
6:19 am ET August 25, 2021 (Dow Jones) Print
Silver will be were the action is once AMC is over and done, but we are a long ways from there.
JPM has shorted the byjesus out of Silver
Meme stocks soar in late day trading surge, short sellers knocked
A GameStop Inc. store is shown in Encinitas, California
Saqib Iqbal Ahmed
Tue, August 24, 2021, 5:04 PM
By Saqib Iqbal Ahmed
NEW YORK (Reuters) - Shares of several retail trading darlings, including AMC Entertainment and GameStop, surged in heavy volume late on Tuesday, on no apparent news, dealing over $1 billion in losses to short sellers.
While broad market indexes rose modestly on Tuesday, with the Nasdaq up 0.5% and the S&P 500 0.1% higher, several of the "meme stocks" notched big gains.
- ADVERTISEMENT -
GameStop shares jumped 27.53%, AMC shares climbed 20.3%, Clover Health Investments rose 9.9%, Koss Corp rose 4.4%, Robinhood Markets climbed 9.0% and ContextLogic rose 6.4%.
"When you get a move that big it almost makes you think there is some big hedge fund or something out there that decided to do some trades," said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research.
Frederick, however, said he had seen little in the way of news to spur the large share price moves on Tuesday.
The jump in the share price on Tuesday also dealt large losses to investors with bearish bets on some of these stocks, according to analytics company ORTEX.
"Heavily shorted stocks have, for the last month, been less volatile than earlier this year. Today we saw an end to this," said Ortex co-founder Peter Hillerberg.
The share price gains in AMC and GameStop generated losses for close to $1 billion for short sellers, Hillerberg said.
Short sellers aim to profit by selling borrowed shares, hoping to buy them back later at a lower price.
Several of these stocks also drew higher-than-usual trading volume in the options market on Tuesday, as traders jockeyed to either take advantage of the rallying prices or moved to cover positions that were under water.
For instance, GameStop options trading volume was at 407,000 contracts, or about six times its recent average daily trading volume, according to data from options analytics firm Trade Alert. AMC options volume came in at 1.6 million contracts, nearly three times its daily average, making it the most active single stock name in the options market on Tuesday, Trade Alert data showed.
While the retail trading frenzy that had taken Wall Street by storm earlier this year has subsided somewhat in recent months, the periodic wild moves in the share prices has kept investors on their toes, analysts said.
"Options prices are implying that this is not going away any time soon," said Brian Overby, senior options analyst at Ally Invest.
(Reporting by Saqib Iqbal Ahmed; Editing by Lisa Shumaker)
Where have you been? You're one funny man!
if I want to see floaters I'll look in my toilet
JJ, this one has some truth, however, lots of FUD going around these days. Hope you are well, Slim
Billionaire Fund Manager Jim Simons Ditches TSLA for 1.8M ...
https://tokenist.com ›
billionaire-fund-manager-jim-sim...
6 days ago — Renaissance Technologies, which held approximately 516,000 AMC shares by March this year, has more than tripled its stake in the firm.
I agree, FUD
Amazon will purchase AMC in its entirety, or there will be no agreement at all
Believe me, AA isn't looking to get bought out, he's sitting on two billion in cash, it would not be a friendly deal, plus Amazon certainly isn't going to listen to anyone, of course they would "own" all of AMC; but I don't believe any of this.
Sure would cause a squeeze, even an offer of fifty bucks.........well, when you don't own the shares, you'd have to buy them for the rightful owner, those shares would be selling for thousands. Check out VW's squeeze, that's what caused their squeeze, Jerks naked shorting had to get shares back to their real owners.
NOt so, not so at all, this is what I woke up to last Saturday once options were exercised in my account.
Cover margin call View balances
Current maint call: -$73,536.15
A maintenance call is issued when your account value drops below our maintenance requirements due to changes in the market value of a security or when you exceed your buying power. Maintenance calls may be met by depositing funds, selling stock, or depositing securities. TD Ameritrade may forcibly liquidate all or part of your account without prior notice, regardless of your intent to satisfy a margin call, in order to protect your interests or ours.
Bio, I believe we agree that Citadel is paying for Brokerage Firms to route shares to them, they then sell counterfeit shares (so they aren't real shares nor are they reported) then there is this:
One of the most common citations occurs when a firm “accidently” marks a short sale as long, or
misreports short interest positions to FINRA. When a short sale occurs, that transaction should be
marked with a short sale indicator. Despite this, many participants do it to avoid the borrow
requirements set by Regulation SHO. If they mark a short sale as long, they are not required to locate a
borrow because FINRA doesn’t know it’s a short sale.
Bio, we'll get a squeeze, you're not going to be seeing a Margin call as if we were trading if Fair Honest markets. Sorry Squeeze will come when a Whale starts buying, hint, 7 days ago — Renaissance Technologies, one of the biggest and best-performing hedge funds in history, more than tripled its stake in AMC Entertainment
https://owi.su/vnhU.pdf
Pooor, it can get even worse, Citadel sells you a Counterfeit share fresh off of the press, you trade with TDAmeritrade, so now, TDA thinks great, I'll loan this share out to be shorted, so now you have two outstanding naked shorts in the market, or does TDA follow common practice in the Industry and sells my shares but never marks the sale as a short sale, so now there's three shorts and on this goes........
One of the most common citations occurs when a firm “accidently” marks a short sale as long, or
misreports short interest positions to FINRA. When a short sale occurs, that transaction should be
marked with a short sale indicator. Despite this, many participants do it to avoid the borrow
requirements set by Regulation SHO. If they mark a short sale as long, they are not required to locate a
borrow because FINRA doesn’t know it’s a short sale.
https://owi.su/vnhU.pdf
I try not to be in margin, but I'm a Put seller. When shares are Put to me, sometimes I'm in margin until I can make adjustments.
You're a smart man, (or woman) staying out of margin.
Well I guess Gensler is a slow learner, there's no accountability with the SEC or the short interest in AMC:
One of the most common citations occurs when a firm “accidently” marks a short sale as long, or
misreports short interest positions to FINRA. When a short sale occurs, that transaction should be
marked with a short sale indicator. Despite this, many participants do it to avoid the borrow
requirements set by Regulation SHO. If they mark a short sale as long, they are not required to locate a
borrow because FINRA doesn’t know it’s a short sale.
https://owi.su/vnhU.pdf
Taken from Investor Village, not sure if it was posted here, if so, reread it, it's good information.
The following message was updated on 6/7/2021 3:17:11 PM.
Marketwatch - ‘Resist the temptation’ to short AMC Entertainment, other meme stocks ‘because these prices can go to unimaginable highs,’ says Interactive Brokers founder
Was lucky to rebuy Friday AH at 42.30 on plunge. Watch this AH Friday’s they jam it down. Trade this often do t hold too long.
https://www.marketwatch.com/story/resist-the-temptation-to-short-amc-entertainment-other-meme-stocks-because-these-prices-can-go-to-unimaginable-highs-says-interactive-brokers-founder-11623080423
Resist the temptation’ to short AMC Entertainment, other meme stocks ‘because these prices can go to unimaginable highs,’ says Interactive Brokers founder
Published: June 7, 2021 at 11:40 a.m. ET
It is extremely tempting to short these stocks, but unless you have huge liquid resources, please try to resist the temptation because these prices can go to unimaginable highs before they settle down to a reasonable valuation, and you may have to cover on the high point.’
Trying to bet against stocks like AMC Entertainment Holdings AMC, 20.00% and GameStop Corp. GME, 11.89%, may be a fool’s errand and particularly dangerous in a climate of a meme-stock revolution that has helped to propel the value of socially driven assets into the stratosphere.
Thomas Peterffy, the founder of Interactive Brokers on Monday, during an interview on CNBC’s “Squawk Box”said that while it might be extremely tempting to short shares of AMC and others, he would recommend avoiding those stocks altogether.
Shares of AMC were up more than 19% early Monday and have gained 120% so far in June. GameStop shares are up 9.8% on the session and have enjoyed a 22% climb in the month to date.
The investments in AMC and GameStop originally started out as organized short-squeezes by a clutch of individual investors who had identified that a number of companies were heavily shorted by hedge funds and surmised, correctly, that those stocks could be pressured higher if enough buyers collectively swooped in.
The momentum for those assets has continued at an unprecedented level. In the year to date, AMC shares are up 2,555% and those for GameStop have climbed over 1,300% over the period.
By comparison, the Dow Jones Industrial Average DJIA, -0.43% is up over 13% far this year, the S&P 500 SPX, -0.24% has climbed more than 12%, and the Nasdaq Composite Index COMP, 0.18% has gained more than 7%.
On Friday, Peterffy warned investors, in an interview with MarketWatch, that investors could lose considerable money betting on meme assets.
Traditional investing, even trading tenets, have been tossed out the window amid the hype over meme stocks, leaving many veterans and strategists to caution that a liquid market, supported by the Federal Reserve’s easy-money policies, may be helping to inflate bubbles in parts of the market and promote FOMO, or fear of missing out.
That atmosphere is representative of a quote often attributed to financier J.P. Morgan. “Nothing so undermines your financial judgment as the sight of your neighbor getting rich.”
If wishes were fishes
Aloha, IMO, it's actually pretty likely, too.
Markopolos was warning about Madoff for seven years, no one listened. (Also the title of his book)
Invest, did we ever know if AMRN denined a settlement offer?
Just like Jonathan Katz investigated Bernie Madoff?
Once the AMC squeeze is history, no one will remember who the hell that weasel Gensler is either.
I agree with you.
A party with a large litigation budget can use extensive and expensive discovery to both drain the resources of the opponent and delay the trial date.
https://www.stimmel-law.com/en/articles/discovery-wars-meat-and-potatoes-american-litigation
Good Post, we'll get our squeeze........I'll see you there, too.
What I'm paying for margin charges will be far from my mind once this does squeeze.
Hodling AMC shares is free only to those that do not have a margin account.
Yes, it appears that we no longer live in a land of laws, no one cares that Citadel writes counterfeit shares; thus, no one has to buy them back. It appears that Citadel can write counterfeit shares for as long as they want to, the Empire has no Clothes!
I'm sure you've seen this Captain, but here it is again:
First Majestic Reports Second Quarter Financial Results and Quarterly Dividend Payment
4:07 pm ET August 16, 2021 (Newsfile) Print
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2021) - First Majestic Silver Corp. (NYSE: AG) (FSE: FMV) (TSX: FR) (the "Company" or "First Majestic") is pleased to announce the unaudited interim consolidated financial results of the Company for the second quarter ended June 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.
SECOND QUARTER 2021 HIGHLIGHTS
Revenues reached a new Company record of $154.1 million following the inclusion of approximately two months of production from the Jerritt Canyon mine in Nevada and robust production from the Mexican operations
Average realized silver price per ounce of $27.32, a 1% increase compared to Q1 2021
Cash costs increased to $13.89 per AgEq ounce, compared to $12.61 in Q1 2021, primarily due to higher ore development and the addition of the Jerritt Canyon operation
AISC were relatively unchanged at $19.42 per AgEq ounce, compared to $19.35 in Q1 2021
Mine operating earnings of $29.4 million, compared to $28.1 million in Q1 2021
Net earnings of $15.6 million (EPS of $0.06), compared to $1.9 million (EPS of $0.01) in Q1 2021
Adjusted EPS of $0.05 after excluding non-cash and non-recurring items, compared to $0.03 in Q1 2021 (non-GAAP)
Cash flow per share was $0.21 per share (non-GAAP), compared to $0.14 per share in Q1 2021
Cash and cash equivalents as of June 30, 2021 was $227.1 million. In addition, the Company has a strong working capital position of $276.3 million and total available liquidity of $316.3 million, including $40.0 million of available undrawn revolving credit facility
Declared a cash dividend payment of $0.006 per common share for the second quarter of 2021 for shareholders of record as of the close of business on August 26, 2021, and will be distributed on or about September 16, 2021
"Improved production rates and higher metal prices during the quarter generated record revenues for the business," stated Keith Neumeyer, President & CEO. "As a result of the higher revenues, our quarterly dividend increased by approximately 33% when compared to the prior quarterly payment. The mining units generated $29.4 million in mine operating earnings due to strong production and higher realized metal prices. At Jerritt Canyon, operational improvements are being achieved although AISC are expected to be higher than normal in the third quarter due to a $12.3 million lift on the tailing impoundment that is currently being constructed. Once completed, costs at Jerritt Canyon are expected to return to normal levels."
OPERATIONAL AND FINANCIAL HIGHLIGHTS
Key Performance Metrics 2021-Q2 2021-Q1 Change
Q2 vs Q1 2020-Q2 Change
Q2 vs Q2
Operational
Ore Processed / Tonnes Milled 826,213 614,245 35% 333,559 148%
Silver Ounces Produced 3,274,026 2,908,024 13% 1,834,575 78%
Silver Equivalent Ounces Produced 6,435,023 4,540,296 42% 3,505,376 84%
Cash Costs per Silver Equivalent Ounce (1) $13.89 $12.61 10% $7.76 79%
All-in Sustaining Cost per Silver Equivalent Ounce (1) $19.42 $19.35 0% $13.95 39%
Total Production Cost per Tonne (1) $104.94 $90.03 17% $78.78 33%
Average Realized Silver Price per Ounce (1) $27.32 $27.13 1% $17.33 58%
Financial (in $millions)
Revenues $154.1 $100.5 53% $34.9 NM
Mine Operating Earnings (Loss) $29.4 $28.1 5% ($7.8) NM
Net Earnings (Loss) $15.6 $1.9 NM ($10.0) NM
Operating Cash Flows before Movements in Working Capital and Taxes $51.2 $31.1 64% ($16.4) NM
Cash and Cash Equivalents $227.1 $201.7 13% $95.2 139%
Working Capital (1) $276.3 $232.8 19% $114.2 142%
Shareholders
Earnings (Loss) per Share ("EPS") - Basic $0.06 $0.01 NM ($0.05) NM
Adjusted EPS (1) $0.05 $0.03 74% ($0.10) 153%
Cash Flow per Share (1) $0.21 $0.14 51% ($0.08) NM
NM - Not meaningful
(1) The Company reports non-GAAP measures which include cash costs per silver equivalent ounce produced, all-in sustaining cost per silver equivalent ounce produced, total production cost per tonne, average realized silver price per ounce sold, 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 the methods used by the Company to calculate such measures may differ from methods used by other companies with similar descriptions. See "Non-GAAP Measures" in the MD&A for a reconciliation of non-GAAP to GAAP measures.
Q2 2021 FINANCIAL RESULTS
The Company realized an average silver price of $27.32 per ounce during the second quarter of 2021, representing a 58% increase compared to the second quarter of 2020 and a 1% increase compared to the prior quarter.
Revenues generated in the second quarter totaled $154.1 million compared to $34.9 million in the second quarter of 2020, primarily due to a 199% increase in payable silver equivalent ounces sold due to a temporary suspension of operations mandated by the Mexican government in response to COVID-19 in the second quarter of 2020.
The Company reported mine operating earnings of $29.4 million compared to ($7.8) million in the second quarter of 2020. The increase in mine operating earnings is primarily attributed to higher ounces sold and higher metal prices.
The Company reported net earnings of $15.6 million (EPS of $0.06) compared to ($10.0) million (EPS of ($0.05)) in the second quarter of 2020. The increase in net earnings was primarily attributed to higher metal prices, temporary suspension of operating activities in the second quarter of 2020 in response to the COVID-19 pandemic, as well as a $10.3 million loss in the second quarter of 2020 related to mark-to-market adjustments on the Company's foreign currency derivatives.
Adjusted net earnings for the quarter was $12.7 million (adjusted EPS of $0.05) compared to ($20.7) million (adjusted EPS of ($0.10)) in the second 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 $51.2 million ($0.21 per share) compared to ($16.4) million (($0.08) per share) in the second quarter of 2020.
Cash and cash equivalents as of June 30, 2021 was $227.1 million. In addition, the Company had strong working capital of $276.3 million and total available liquidity of $316.3 million, including $40.0 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 mines during the quarter.
Second Quarter Production Summary San Dimas Santa Elena La Encantada Jerritt Canyon Canyon(1) Consolidated
Ore Processed / Tonnes Milled 202,382 234,381 242,839 146,611 826,213
Silver Ounces Produced 1,868,031 565,453 840,541 - 3,274,026
Gold Ounces Produced 19,227 8,453 102 18,762 46,544
Silver Equivalent Ounces Produced 3,176,725 1,140,398 847,502 1,270,398 6,435,023
Cash Costs per Silver Equivalent Ounce $10.17 $16.70 $13.66 N/A $13.89
All-in Sustaining Cost per Silver Equivalent Ounce $14.22 $21.31 $15.97 N/A $19.42
Cash cost per AuEq Ounce N/A N/A N/A $1,407 N/A
All-In sustaining costs per AuEq Ounce N/A N/A N/A $1,679 N/A
Total Production Cost per Tonne $153.43 $79.17 $45.71 $177.30 $104.94
Total production in the second quarter was 6.4 million silver equivalent ounces, consisting of 3.3 million ounces of silver and 46,544 ounces of gold, representing an increase of 13% and 95%, respectively, compared to the previous quarter primarily due to a 14% increase in silver equivalent production from the three operating Mexican mines and the inclusion of production from the Jerritt Canyon mine effective April 30, 2021.
COSTS AND CAPITAL EXPENDITURES
Cash cost for the quarter was $13.89 per silver equivalent ounce, compared to $12.61 per ounce in the previous quarter. The increase in cash cost was due to higher ore development and the addition of the Jerritt Canyon mine which was producing at a higher cash cost in the first few months since the acquisition. The Company has identified numerous projects that will be implemented over the next 12 to 24 months at Jerritt Canyon to improve production and reduce costs at the mine and processing plant. The increase in cash costs were partially offset by lower cash costs at Santa Elena and La Encantada due to higher production.
AISC in the second quarter was $19.42 per ounce and in-line when compared to $19.35 per ounce with the previous quarter. The slight increase in AISC was primarily attributed to an increase in cash cost per AgEq ounce due to the addition of Jerritt Canyon which was mostly offset by a decrease in sustaining costs in total mine development in Mexico.
Total capital expenditures in the second quarter were $58.3 million, primarily consisting of $15.5 million at San Dimas, $17.2 million at Santa Elena (including $8.4 million towards the Ermitaño project), $2.8 million at La Encantada, $8.1 million at Jerritt Canyon and $14.4 million for strategic projects.
Q2 2021 DIVIDEND ANNOUNCEMENT
The Company is pleased to announce that its Board of Directors has declared a cash dividend payment in the amount of $0.006 per common share for the second quarter of 2021, representing a 33% increase compared to the prior quarterly payment as a result of higher generated revenues. The second quarter cash dividend will be paid to holders of record of First Majestic's common shares as of the close of business on August 26, 2021 and will be distributed on or about September 16, 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 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 Santa Elena Silver/Gold Mine, the La Encantada Silver Mine and the Jerritt Canyon Gold Mine.
FOR FURTHER INFORMATION contact info@firstmajestic.com, 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
I fully agree with you, I'm also buying. I'm going to get a whooping $136.00 when my divy comes around 9/26, that is, unless I buy more; I'm just not sure where I'm going to get more money to be buying.
Never know, my wife loves a good sale, why can't I?
You tell me that the SEC can't see this BS!
When we squeeze, we'll jump up dollars in a blink of an eye, that will be normal.
Biden promised EV postal trucks only to go with gas, he's a bit wishy washy.
Wouldn't have been a bad pick up in the 30's, too.
Greed, I never believed they were not dropping the dividend.