![]() See Also: Will Bank Runs and Failures Cause a Run on Gold and Silver? How Precious Metals Can Protect Your WealthĪG Price Action: First Majestic shares were down 16.9% after hours at $6.18 at time of publication, according to Benzinga Pro. Revised guidance is expected to be released in July. The site encompasses 4,076 hectares of mining rights and 1,343 hectares of surface rights. and includes a 4,000 tpd cyanidation mill. The stock, which is currently priced at 5.1, recorded a gain of 3.04 in a day and a 3-month decrease of 12. The La Encantada Silver Mine is 100 owned by First Majestic Silver Corp. The Company will continue exploring both near-mine and prospective regional greenfield targets to grow Jerritt Canyon's resources, which we believe will significantly enhance the economics for the eventual restart of operations," said Keith Neumeyer, president and CEO of First Majestic.Īs a result of the mining suspension, the company said its previous production and cost guidance for Jerritt Canyon is unreliable. One such stock that merits attention is First Majestic Silver Corp ( NYSE:AG ). "While mining activities have temporarily stopped, processing of the remaining surface stockpiles will occur for the next couple of months. Jerritt Canyon represented 21% of the company's total revenues last year. First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. Since acquiring the mine nearly two years ago, the company has been focused on increasing mining rates, but despite its efforts, rates have remained low, while costs per ounce have remained elevated.įirst Majestic attributed much of its struggles to contractor inefficiencies and high costs, inflationary cost pressures, lower-than-expected head grades and multiple extreme weather events. What Happened: First Majestic said it will suspend mining activities, reduce investments and trim its workforce at Jerritt Canyon, effective immediately. They share opinions on price directions and. (NYSE: AG) (TSX: FR) (FSE: FMV) ('First Majestic' or the 'Company') is pleased to announce that total production in the second quarter of 2023 reached 6.3 million silver equivalent ('AgEq') ounces, consisting of 2. July 20, 2023) - First Majestic Silver Corp. ![]() Shares of silver and gold miner First Majestic Silver Corp AG are getting buried in Monday's after-hours session after the company announced plans to temporarily suspend all mining activities at one of its gold mines. Check out the latest trade and investment ideas for First Majestic Silver Corp. Vancouver, British Columbia-(Newsfile Corp.
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