First Majestic Silver Corp. is a pure silver producing mining company focused in Mexico. The Company strives for continued growth with a proven aggressive growth strategy based on acquisition and development of advance staged silver projects.
First Majestic has excelled in acquisition of long term sustainable projects and has set itself apart from others in the silver space lead by President and CEO, Keith Neumeyer, founder of First Quantum Minerals, a successful copper company; alongside with COO Ramon Davila who has over 30 years of mining experience in Mexico, most recently with Pan American Silver. This management team has led the Company to incredible growth over the last 3 years, growing from 85 to almost 1300 employees corporate wide with continued growth on the horizon! With a solid team in place, the Company expects to achieve continuous growth in silver production and resource development going forward.
First Majestic offers a unique investment opportunity which is highly leveraged to the price of silver, has unmatched production growth, a significant resource base with excellent growth opportunity, and a highly experienced management team both in Canada and Mexico.
The Company’s owns three operating mines which produced 4.25 million ounces of silver equivalent in 2008, with only 10% production from bi-products. Production in 2010 is expected to exceed 6.0 million ounces (eqv.), with 80% of this production in the form silver Doré bars. The majority of this production growth will come from the new 3500 tpd La Encantada cyanidation plant after 16 months of construction and almost US$30 million invested.
The major focus for 2010 will be the construction the Company’s fourth mine, the Del Toro Silver Mine, and assuming all goes well, the commissioning in late 2010. In conjunction with production upgrades at its existing mines, the La Parrilla and San Martin Silver Mines, the completion of construction at the La Encantada and the brining on-line of Del Toro, production is expected to reach approximately 10 million ounces a year by 2012.
With the recent acquisition of Normabec Mining and the Real de Catorce silver project, First Majestic has a combined global NI 43-101 resource base of approximately 350 million silver equivalent ounces defined on 5 properties. Therefore, every First Majestic share outstanding is backed by 4.06 ounces of defined silver.
First Majestic also has award winning working relationships within the local communities and environments we operate in. First Majestic is a major contributor to progressive programs, projects, and partnerships aimed at supporting the local residents, modernizing local infrastructure, and bettering local environments.
First Majestic is rapidly distinguishing itself as the ‘best in its class’ of silver producers based on production growth, production cost, resource growth, social responsibility and environmental stewardship.
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