Silver Price: $22.56
NYSE: AG $9.97
TSX: FR $13.02
Frankfurt: FMV €8.27

First Majestic Reports Third Quarter Financial Results

November 12, 2013

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the “Company” or “First Majestic”) is pleased to announce the unaudited interim consolidated financial results for the Company for the third quarter ending September 30, 2013. The full version of the financial statements and the management discussion and analysis can be viewed on the Company’s web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

2013 THIRD QUARTER HIGHLIGHTS
  • Silver equivalent ounces produced increased by 38% to 3,370,457 ounces compared to 2,438,085 ounces in Q3 2012.
  • Silver ounces produced increased by 22% to 2,689,237 ounces compared to 2,205,237 ounces in Q3 2012.
  • Net Earnings after Taxes amounted to $16.3 million or a Basic $0.14 Earnings Per Share.
  • Adjusted Earnings Per Share (non-GAAP) of $0.22 after excluding non-cash and non-recurring items.
  • Cash Flow Per Share (non-GAAP) of $0.32, representing a 2% increase from Q3 2012.
  • Generated Revenues of $76.9 million, a 21% increase compared to Q3 2012 primarily due to an increase in silver equivalent ounces sold.
  • Mine Operating Earnings amounted to $29.2 million, a decrease of 19% from Q3 2012, primarily due to a 29% decrease in the average realized silver price per ounce.
  • Total Cash Cost, net of by-product credits, was $8.84 per ounce, down 6% from $9.43 compared to Q2 2013 and down 4% compared to Q3 2012.
  • Average realized silver price per ounce was $21.58, a decrease of 29% compared to Q3 2012.
  • At the end of the quarter, Cash and Cash Equivalents was $67.5 million and Working Capital was $69.6 million.
Keith Neumeyer, CEO and President of First Majestic, stated, “Management’s focus for this quarter has been on cost reductions and capital program reductions. This initiative, which began in April has resulted in two back to back quarters of total cash cost reductions. In addition, costs at the corporate level have also declined 11% compared to the previous quarter. As we can’t count on an improved environment in the short term for silver prices, management has little choice other than to cut further. Our focus for 2014 will be to optimize operations, to continually reduce costs, and remove all discretionary investments that don’t have major impacts on future guidance. As a result, we expect to see continued improvements in our cost structures over the coming quarters.”

2013 THIRD QUARTER HIGHLIGHTS TABLE

Third Quarter
2013
Third Quarter
2012
Change Second Quarter
2013
Change Year to Date
2013
Year to Date
2012
Change
Operating
Silver Equivalent Ounces Produced 3,370,457 2,438,085 38% 3,268,117 3% 9,370,366 6,547,526 43%
Silver Ounces Produced
(excluding equivalent ounces from by-products)
2,689,237 2,205,237 22% 2,767,966 (3%) 7,894,867 5,949,288 33%
Payable Silver Ounces Produced(1) 2,609,903 2,127,056 23% 2,689,222 (3%) 7,523,944 5,781,348 30%
Total Cash Costs per Ounce(2) $8.84 $9.19 (4%) $9.43 (6%) $9.23 $9.02 2%
Total Production Cost per Tonne(2) $43.49 $30.05 45% $39.57 10% $38.17 $28.77 33%
Average Realized Silver Price Per Ounce ($/eq. oz.)(2) $21.58 $30.48 (29%) $22.19 (3%) $23.98 $30.59 (22%)
Financial
Revenues ($ millions) $76.9 $63.6 21% $48.4 59% $192.3 $176.2 9%
Mine Operating Earnings ($ millions) $29.2 $35.8 (19%) $14.3 104% $78.1 $102.6 (24%)
Net Earnings ($ millions) $16.3 $24.9 (34%) $0.2 10100% $43.0 $66.5 (35%)
Operating Cash Flows Before Movements in
Working Capital and Income Taxes
($ millions)
$37.2 $35.9 4% $34.8 7% $116.9 $103.6 13%
Cash and Cash Equivalents ($ millions) $67.5 $72.8 (7%) $78.9 (14%) $67.5 $72.8 (7%)
Working Capital ($ millions) $69.6 $84.0 (17%) $80.4 (13%) $69.6 $84.0 (17%)
Shareholders
Earnings Per Share (“EPS”) - Basic $0.14 $0.22 (35%) $0.00 10102% $0.37 $0.61 (40%)
Cash Flow Per Share(2) $0.32 $0.31 2% $0.30 6% $1.00 $0.95 5%
Weighted Average Shares Outstanding for the Periods 116,903,753 115,307,418 1% 116,921,685 (0%) 116,906,807 108,872,377 7%
  1. Payable Silver Ounces Produced is equivalent to Silver Ounces Produced less metal deductions from smelters and refineries.
  2. The Company reports non-GAAP measures which include Total Cash Costs per Ounce, Total Production Cost per Tonne, Average Realized Silver Price per Ounce 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.
FINANCIAL HIGHLIGHTS
  • Net earnings for the third quarter of 2013 were $16.3 million (EPS of $0.14), compared to net earnings of $0.2 million (EPS of $nil) in the second quarter of 2013 and net earnings of $24.9 million (EPS of $0.22) in the third quarter of 2012. Net earnings in the third quarter includes the sales of approximately 650,000 ounces of silver that were held in inventories at the end of the second quarter.
  • Adjusted EPS (a non-GAAP measure) for the third quarter of 2013 was $0.22, after excluding non-cash and non-recurring items, such as deferred income taxes, share-based payments, write-down on marketable securities, gains from investment in silver futures and fair value adjustment of the prepayment facility.
  • Generated revenues of $76.9 million for the third quarter of 2013, an increase of 59% compared to the second quarter of 2013. Higher revenues were primarily due to an increase in payable equivalent silver ounces sold, which included suspended sales from the second quarter that were sold in the third quarter. This was partially offset by a 3% decrease in average realized silver price per ounce in the quarter. Compared to the third quarter of 2012, revenues increased by 21% due to a 75% increase in silver equivalent ounces sold, offset by a 29% decrease in average realized price per ounce.
  • Recognized mine operating earnings of $29.2 million compared to $14.3 million in the previous quarter and $35.8 million in the third quarter of 2012. The increase in mine operating earnings compared to the second quarter of 2013 was attributed to the sale of the finished goods inventories that were built up at the end of the second quarter, and a 3% increase in production, but offset by higher depletion, depreciation and amortization related to the increased production rates and the addition of plant, equipment and mineral properties related to San Martin and Del Toro mines.
  • Cash flows from operations before movements in working capital and income taxes (an additional GAAP measure) in the third quarter of 2013 increased by 7% to $37.2 million ($0.32 per share) compared to $34.8 million ($0.30 per share) in the second quarter of 2013, and increased by 4% compared to $35.9 million ($0.31 per share) in the third quarter of 2012. The increase in cash flows from operations compared to the previous quarter was attributed to higher gross margin as a result of the second quarters suspended sales of approximately 700,000 ounces of silver, 650,000 ounces of which were sold in the third quarter and higher mine operating earnings.
MEXICO TAX REFORM

On September 8, 2013, the Executive Branch of the Mexican government presented its 2014 Tax Reform bill to Congress with a proposed effective date of January 1, 2014. On October 18, 2013, the Chamber of Deputies (Lower House of Congress) approved the bill with certain amendments. On October 29, 2013, the Tax Commission of the Senate (Upper House of Congress) approved the tax reform bill and on October 31, 2013, the Mexican Congress approved the 2014 Mexican tax reform package. The reforms will be published in the Mexican Official Gazette and will have legal force in January 2014.

There are a number of significant changes in the Mexican Tax Reform package that will impact the Company effective January 1, 2014. Specifically, a 7.5% royalty calculated based on earnings before interest, taxes, depreciation and amortization will be imposed. In addition, a 0.5% additional royalty calculated based on revenues will be levied. Further, the planned corporate tax rate reductions to 29% in 2014 and 28% thereafter have been repealed and the corporate tax rate will remain at 30%. In addition, a 10% withholding tax on dividend distributions has been introduced but will not supercede treaty rates. These Mexican Tax Reform changes to the Federal Tax Code are significant and, are expected to increase the Company’s tax burden in Mexico and significantly impact management’s capital investment decisions going forward. The Company is in the process of evaluating and quantifying this impact and will make further announcements in its 2014 Outlook scheduled for release in early January.

OPERATIONAL RESULTS

Silver equivalent production in the third quarter increased to a record 3,370,457 ounces, an increase of 3% compared to 3,268,117 ounces in the previous quarter. The new Del Toro Silver Mine contributed 567,723 ounces of production in the third quarter, an increase of 14% compared to 499,357 ounces in the previous quarter. Compared to the same quarter of the prior year, silver equivalent production increased by 38% primarily attributed to additional production from Del Toro, improved head grade and tonnage milled at La Parrilla and San Martin, and the plant expansion at La Guitarra from 350 tonnes per day (” tpd”) to the current 500 tpd.

The overall average head grade for the third quarter of 2013 was 202 grams per tonne (“g/t”), a 21% increase compared to 167 g/t in the third quarter of 2012 and 1% increase compared to 201 g/t in the second quarter of 2013. The increase from the same quarter of the prior year was primarily attributed to 33% increase in head grades from La Encantada due to a higher proportion of fresh ore being processed, 23% higher grades from San Martin as the mine began extracting ore from the Rosario mine during the quarter, 12% higher grades from La Parrilla, offset by 40% lower head grade from the La Guitarra mine as production ore came from areas within the La Guitarra vein which contained higher gold grades in conjunction with lower silver grades.

Total ore processed during the third quarter amounted to 641,345 tonnes milled, representing a slight decrease of 4% over the previous quarter due to the effects of two major hurricanes which struck Mexico during the quarter combined with a break-down of the third ball mill at the La Encantada mine, which has since been repaired.

CASH COSTS

Cash costs per ounce in the third quarter was $8.84, a decrease of 6% from $9.43 in the previous quarter and a decrease of 4% compared to $9.19 in the third quarter of 2012. The decrease in cash cost compared to the same quarter of the prior year was primarily attributed to an increase in by-product credits. By-product credits increased due to the additional production from the new Del Toro flotation plant, an increase in lead and zinc production from the La Parrilla flotation plant, as well as higher gold production from the La Guitarra and San Martin mines.

Production cost was $43.49 per tonne in the third quarter, an increase of 10% from $39.57 in the previous quarter. Compared to the third quarter of 2012, production cost per tonne increased from $30.05, or 45%, primarily due to higher production costs per tonne at the Del Toro mine and the proportional increase of fresh mine ore being mined versus old tailings at the La Encantada mine.

MINE OPERATIONS

La Parrilla Silver Mine

Total production at the La Parrilla mine was 1,208,635 equivalent ounces of silver in the third quarter of 2013, which was an increase of 27% compared to 952,819 equivalent ounces in the second quarter of 2013 due to an increase in grade and recoveries of lead and zinc, and an increase of 42% compared to the third quarter of 2012, due to 12% increase in head grades and 8% increase in tonnage processed.

Cash costs per ounce decreased by 29% from $9.20 in the second quarter to $6.54 in the third quarter. The decrease is cash cost were a result of higher silver grades, improved recoveries and an increase in by-product production.

The Company continued a reduced pace of construction for the extensive underground ore haulage at Level 11. The new San José production shaft has proceeded to 25 metres below the surface from the head of the shaft with a cost of $0.4 million in the third quarter. Also, a total of $0.5 million was spent on underground Level 11 with 286 metres developed during the quarter. This new haulage and underground electric rail system will consist of 5,000 metres of development and a 260 vertical metre shaft replacing the current less efficient above-ground system of trucking ore to the mill. Once completed, this investment is expected to improve ore logistics, ultimately reducing overall operating costs and thereby delivering operational efficiencies.

Del Toro Silver Mine

Phase 2 construction of the Del Toro Silver Mine, which includes the addition of a 1,000 tpd cyanidation circuit, is now completed and commissioning began on October 20th, bringing the total production capacity to 2,000 tpd. The first production of silver doré bars is planned for November 20, 2013.

Total production at Del Toro was 567,723 equivalent ounces of silver in the third quarter, which was an increase of 14% compared to 499,357 equivalent ounces in the second quarter of 2013. Mill throughput during the third quarter, calculated based on 73 actual operating days instead of the planned 84 days due to delays from cyanidation construction interference, was 1,061 tpd with head grades of 244 g/t silver, 4.3% lead and 2.8% zinc compared to 216 g/t silver, 3.4% lead and 3.3% zinc in the second quarter. Silver recoveries averaged 69% during the third quarter compared to 72% in the previous quarter due to a variation in the ore feed from a transition zone between oxides and sulfides. Further testing is underway at the Company’s central lab with the objective of improving overall metallurgical recoveries, however, once the new cyanidation circuit is operational, some of these ores will be processed through this new circuit.

Cash cost per ounce for the third quarter was $9.29, an increase of $1.09 compared to $8.20 in the previous quarter. The increase in cash cost per ounce is primarily attributed to operating days lost due to the construction overlapping, heavy rainfalls in the area during the quarter, and some inefficiencies related to early stage operations. Cash cost per ounce is expected to decline in the fourth quarter as operations get more routine and efficient and as ramping up of oxide production begins in the cyanidation processing plant.

To conserve capital in a reduced silver price environment, management is altering its capital investment and production plan for the Del Toro mine. With some minor plant and process modifications, the Company is planning to accelerate the ramp up of the cyanidation circuit to 2,000 tpd by January 2014, and further ramping up to 2,250 tpd by the end of 2014; however, the Company will be reducing the flotation circuit production plan from 1,000 tpd to approximately 550 tpd during 2014. Capital investments will be delayed for the installation of one of the two SAG mills and the completion of the San Juan shaft. Despite the delay of these investments, the Del Toro plant will be capable of ramping up production to 3,000 tpd during 2014 once the first SAG Mill is installed. Further details will be released with the Company’s 2014 guidance outlook in January.

La Encantada Silver Mine

A total of 931,027 equivalent ounces of silver were produced by the La Encantada plant during the third quarter of 2013. Production in the third quarter of 2013 decreased 18% compared to the 1,132,399 equivalent ounces of silver produced in the second quarter of 2013 and 15% compared to the 1,090,966 equivalent ounces of silver produced in the third quarter of 2012. The decrease in production during the third quarter was attributed to the breakdown that occurred in the gear and motor at ball mill #1, resulting in the ball mill to remain offline for a period of 6 weeks. The Company also used this repair period to do a complete overhaul of the ball mill and its foundation in order to have a more reliable operation in the future. Ball mill #1 is now fully operational and fresh ore tonnage and silver grades returned to normal levels.

Due to the reduction in quarterly production ounces, cash cost per ounce increased by 21% from $8.85 in the second quarter to $10.70 in the current quarter. The increase in cash cost per ounce was attributed to a 19% decrease in ounces produced in the third quarter, as operating costs remained fairly constant but less tonnage was processed and fewer silver ounces were produced resulting in dis-economies of scale. Now that the ball mill is fully operational, cash costs per ounce are projected to return to normal levels in the fourth quarter.

San Martin Silver Mine

Total production in the third quarter of 2013 was 377,816 ounces of silver equivalent, a decrease of 6% compared to the 402,798 ounces of silver equivalent produced in the second quarter of 2013, but 47% higher than the 257,688 equivalent ounces of silver produced in the third quarter of 2012.

Cash costs per ounce in the third quarter was $10.34, a decrease of 5% from compared to $10.91 in the second quarter. The decrease is cash costs were a result of higher recoveries and an increase in gold by-product production.

The Company’s expansion project at San Martin was completed in early October. Portions of the plant upgrade such as new tanks and clarifiers showed improvements in production, recoveries, and higher quality silver doré during the third quarter. The scheduled production ramp up will increase from 900 tpd to 1,200 tpd in the fourth quarter with no delays in achieving commercial production levels and qualities. Due to a decision to swap-out the older 8.5’ x 12’ ball mill for a newer, larger, and more reliable 9.5’ x 12’ ball mill, full capacity to 1,300 tpd is expected to be reached in the first quarter of 2014.

La Guitarra Silver Mine

During the quarter, total production at La Guitarra was 285,256 equivalent ounces of silver, an increase of 2% compared to the 280,744 ounces produced in the second quarter of 2013 and an increase of 20% compared to the 237,803 ounces in the third quarter of 2012, which was the first quarter of La Guitarra operations under First Majestic’s ownership.

Total cash cost per ounce in the third quarter were significantly reduced by 57% to $5.63 per ounce, compared to $13.21 per ounce in the previous quarter. As a result of a new smelting and refining agreement, the Company achieved a significant $4.49 per ounce reduction in treatment charges and transportation costs. The 57% decrease was primarily attributed to the smelting and refining costs and also an increase in gold by-product credits.

During the third quarter, production ore came from areas within the La Guitarra vein which contained higher gold grades in conjunction with lower silver grades. Looking ahead to early 2014, the average silver grade is expected to improve once production commences at the new Joya Larga structure. This new area has indicated grades ranging between 200 g/t to 350 g/t of silver.

First Majestic is a mining company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.

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


SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral reserve and resource estimates and estimates of future production and costs of production at our properties; estimated production rates for silver and other payable metals produced by us, the estimated cost of development of our development projects; the effects of laws, regulations and government policies on our operations, including, without limitation, the laws in Mexico which currently have significant restrictions related to mining; obtaining or maintaining necessary permits, licences and approvals from government authorities; and continued access to necessary infrastructure, including, without limitation, access to power, land, water and roads to carry on activities as planned.

These statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada, Mexico; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properties are mined; the Company’s title to properties; and the factors identified under the caption “Risk Factors” in the Company’s Annual Information Form, under the caption “Risks Relating to First Majestic’s Business”.

Investors are cautioned against attributing undue certainty to forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
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First Majestic Updates 2019 Mineral Reserve and Resource Estimates
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First Majestic Renews Share Repurchase Program
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First Majestic Announces Financial Results for Q4 and Year End 2019
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First Majestic Announces New Chief Operating Officer
January 21, 2020
First Majestic Announces 2020 Production and Cost Guidance
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First Majestic Reports Third Quarter Financial Results
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First Majestic Produces 6.6 Million Silver Equivalent Ounces in Third Quarter
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July 15, 2019
First Majestic Produces 6.4 Million Silver Equivalent Ounces in Second Quarter; Provides Conference Call Details
May 24, 2019
First Majestic Announces Voting Results from Annual General Meeting and Management Changes
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First Majestic Reports First Quarter Financial Results
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First Majestic First Quarter Financial Results to be Released on May 9
April 16, 2019
First Majestic Produces 6.3 Million Silver Equivalent Ounces in First Quarter
March 29, 2019
First Majestic Updates 2018 Mineral Reserve and Resource Estimates
March 19, 2019
First Majestic Renews Share Repurchase Program
February 25, 2019
First Majestic Announces High-Grade Drill Results from 2018 Exploration Program at the Ermitaño Silver/Gold Project; Permitting Status Update
February 25, 2019
First Majestic Announces Financial Results for Q4 and Year End 2018
January 14, 2019
First Majestic Produces a Record 22.2M Silver Eqv. Oz in 2018; Announces Higher 2019 Production Outlook & Conference Call Details
December 27, 2018
First Majestic Silver Corp. Announces At-The-Market Offering Equity Program
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First Majestic Reports Third Quarter Financial Results
November 6, 2018
First Majestic Announces Updated Release Date for Third Quarter Financial Results
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First Majestic Files Preliminary Base Shelf Prospectus
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First Majestic Produces a Record 6.7 Million Silver Equivalent Ounces in Third Quarter
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First Majestic and Evrim Resources Agree to Exercise of Ermitaño and Cumobabi Option Agreements
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First Majestic Reports Second Quarter Financial Results
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First Majestic Produces a Record 5.1M Silver Equivalent Ounces in Second Quarter; Increases 2018 Production Guidance to 20.5M - 22.6M Silver Equivalent Ounces
May 25, 2018
First Majestic Announces Voting Results from Annual General Meeting
May 10, 2018
First Majestic Announces New Stream Agreement at San Dimas Mine and New Credit Facility
May 10, 2018
First Majestic Completes Acquisition of Primero
May 9, 2018
First Majestic Announces Amendments to Advance Notice Policy
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First Majestic Reports First Quarter Financial Results
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Primero Announces Receipt of Mexican Antitrust Clearance for Arrangement With First Majestic and Files First Quarter Financial Statements on SEDAR
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First Majestic Produces 3.9M Silver Eqv. Oz in First Quarter
March 29, 2018
First Majestic Updates Mineral Reserve and Resource Estimates for 2017 and Files Form 40-F Annual Report
March 19, 2018
First Majestic Renews Share Repurchase Program
March 13, 2018
Primero Announces Shareholders Vote In Favour Of Transaction With First Majestic
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First Majestic Announces Financial Results for Q4 and Year End 2017
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First Majestic announces Exercise and Closing of Over-Allotment Option
January 29, 2018
First Majestic Completes US$150 Million Convertible Senior Notes Offering
January 25, 2018
First Majestic Prices Offering of Convertible Senior Notes
January 24, 2018
First Majestic Launches Offering of Convertible Senior Notes
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First Majestic Silver Announces Friendly Acquisition of Primero Mining and Restructured Stream with Wheaton Precious Metals
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First Majestic Provides Review of 2017 Exploration Program and Plans for 2018
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First Majestic files updated NI 43-101 technical reports on its Del Toro, La Parrilla and San Martin Silver Mines
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First Majestic Produces 4.0M Silver Eqv. Oz in Third Quarter
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First Majestic Reports Accident at La Encantada
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First Majestic Reports Second Quarter Financial Results
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First Majestic Produces 3.9M Silver Eqv. Oz in Second Quarter
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First Majestic to Resume Operations at La Encantada
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First Majestic Announces Voting Results from Annual General Meeting
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First Majestic Announce illegal Blockade at La Encantada
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First Majestic Reports First Quarter Financial Results
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First Majestic Produces 4.3M Silver Eqv. Oz in First Quarter
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First Majestic Renews Share Repurchase Program
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First Majestic Appoints New COO and New Member to Board of Directors
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First Majestic Reports Third Quarter Financial Results
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Third Quarter Financial Results to be Released on November 9
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First Majestic Achieves New Record in Silver Production; Produces 4.5 Million Silver Eqv. Ounces in Third Quarter
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First Majestic Reports Second Quarter Financial Results
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First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 10
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First Majestic Produces 4.7 Million Silver Eqv. Ounces in Second Quarter
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First Majestic Announces Election of Directors
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First Majestic Silver Corp. Changes Annual General Meeting Time
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First Majestic Silver Corp. Announces Closing of C$50 Million Bought Deal Financing; Over-Allotment Option Fully Exercised
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First Majestic Reports First Quarter Financial Results
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First Majestic Revises Date of First Quarter Financial Results to May 10
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First Majestic Silver Corp.: First Quarter Financial Results to be Released on May 11
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First Majestic Silver Corp. Announces C$50 Million Bought Deal Financing
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First Majestic Produces a Record 5.1 Million Silver Eqv. Ounces in First Quarter
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First Majestic Updates Mineral Reserve and Resource Estimates for Year End 2015 and Files Form 40-F Annual Report
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First Majestic Silver Corp. Announces Updated La Encantada NI 43-101 Technical Report
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First Majestic Renews Share Repurchase Program
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First Majestic Announces Financial Results for Q4 and Year End 2015
February 11, 2016
Fourth Quarter and Year End Financial Results to Be Released on February 25, 2016
February 11, 2016
First Majestic Secures $60 Million Credit Facility
January 19, 2016
First Majestic Produces 16.1M Silver Eqv. Oz in 2015 (4.8M Silver Eqv. Oz in Q4); Announces 2016 Production Outlook and Cost Guidance
November 16, 2015
First Majestic Reports Third Quarter Financial Results
October 14, 2015
First Majestic Produces 3.6 Million Silver Eqv. Ounces in Q3'15
October 1, 2015
First Majestic Completes Acquisition of SilverCrest
September 25, 2015
First Majestic and Silvercrest Announce Shareholder Approval of Plan of Arrangement
September 15, 2015
Leading Independent Advisory Firms ISS and Glass Lewis Recommend that SilverCrest and First Majestic Shareholders Vote FOR the Plan of Arrangement
August 27, 2015
First Majestic and SilverCrest Announce Receipt of Interim Order and Mailing of Meeting Materials
August 11, 2015
First Majestic Reports Second Quarter Financial Results and La Encantada Operational Update
July 30, 2015
First Majestic Silver: Second Quarter Financial Results to Be Released on August 11
July 27, 2015
First Majestic Announces Friendly Acquisition of SilverCrest Mines
July 9, 2015
First Majestic Produces 3.8 Million Silver Eqv. Ounces in Q2'15
May 22, 2015
First Majestic Announces Election of Directors
May 7, 2015
First Majestic Reports First Quarter Financial Results
April 23, 2015
First Quarter Financial Results to be Released on May 7
April 22, 2015
First Majestic Silver Corp. Announces Closing of C$30 Million Bought Deal Financing
April 13, 2015
First Majestic Produces 3.9 Million Silver Eqv. Ounces in Q1'15
April 13, 2015
First Majestic Produces 3.9 Million Silver Eqv. Ounces in Q1'15
April 6, 2015
First Majestic Announces Acquisition of Shares of First Mining Corp.
April 6, 2015
First Majestic Announces Promotion of Martin Palacios to Chief Transformation Officer
April 5, 2015
First Majestic Silver Corp. Announces C$30 Million Bought Deal Financing
March 31, 2015
Announces New La Guitarra NI 43-101 Technical Report
March 11, 2015
First Majestic Renews Share Repurchase Program
February 23, 2015
First Majestic Announces Financial Results for Q4 and Year End 2014
February 2, 2015
Fourth Quarter and Year End Financial Results to be Released on February 23, 2015
January 13, 2015
First Majestic Produces a Record 4.2M Silver Eqv. Oz in Q4 and Annual Record of 15.3M Silver Eqv. Oz in 2014; Announces 2015 Production Outlook and Cost Guidance
December 1, 2014
Supreme Court of Canada Dismisses Appeal Application by Hector Davila Santos
November 12, 2014
First Majestic Reports Third Quarter Financial Results
November 6, 2014
Conference Call Scheduled on November 12, 2014
October 31, 2014
Third Quarter Financial Results to be Released on November 12, 2014
October 14, 2014
Produces 3.5 Million Silver Eqv. Ounces in Q3; Postpones the Sale of 934K Silver Ounces of Inventory
August 22, 2014
First Majestic to List on the Mexican Stock Exchange
August 13, 2014
First Majestic Reports Second Quarter Financial Results
July 21, 2014
Second Quarter Financial Results to be Released on August 13, 2014
July 14, 2014
New Record of 3.86 million Silver Eqv. Ounces Produced in Q2; Announces Spin-out of Non-Core Exploration Properties
June 9, 2014
First Majestic Wins Application to Dismiss Appeal
May 29, 2014
First Majestic Announces Election of Directors
May 13, 2014
First Majestic Reports First Quarter Financial Results
May 1, 2014
First Quarter Financial Results to be Released on May 13
April 15, 2014
First Majestic Announces US$30M Forward Sale Contract on Lead Production
April 8, 2014
First Majestic's Q1 Production Reaches New Record of 3.63 million Silver Equivalent Ounces
April 4, 2014
First Majestic Appoints VP of Technical Services
March 27, 2014
First Majestic Updates Reserves and Resource Estimates and Files Form 40-F Annual Report
March 10, 2014
First Majestic Announces Extension of Share Repurchase Program
March 3, 2014
First Majestic Announces Changes to Operations and Geological Teams
February 26, 2014
First Majestic Announces Financial Results for Q4 and Year End 2013
February 3, 2014
Fourth Quarter and Year End Financial Results to be Released on February 26, 2014
January 14, 2014
First Majestic becomes a Senior Silver Producer; Produces 10.64M Ounces of Silver in 2013; Projects 12.70M to 13.35M Ounces of Silver in 2014
December 23, 2013
First Majestic Announces Retirement of Robert Young from Board of Directors
December 4, 2013
Silver Doré Production Commences at the Del Toro Silver Mine
November 12, 2013
First Majestic Reports Third Quarter Financial Results
October 30, 2013
Third Quarter Financial Results to be Released on November 12th
October 24, 2013
Appeal Against First Majestic Dismissed
October 16, 2013
First Majestic Produces a New Record of 3.37 million Silver Equivalent Ounces
September 30, 2013
First Majestic Applies to Dismiss Appeal of Positive Judgment for US$93.84 million
August 13, 2013
First Majestic Reports Second Quarter Financial Results
July 15, 2013
Second Quarter Financial Results to be Released on August 13th
July 10, 2013
First Majestic Produces a New Quarterly Record of 3.27 Million Silver Eqv. Ounces
July 2, 2013
Payment of CDN$14.85 million Received in Court Litigation
May 28, 2013
Updated San Martin NI 43-101 Technical Report and Economic Assessment
May 24, 2013
First Majestic Announces Election of Directors
May 15, 2013
First Majestic Reports First Quarter Earnings of $26.5 million on Revenues of $67.1 million
May 7, 2013
First Quarter Financial Results to be Released on May 15th
May 2, 2013
First Majestic Announces Completion of La Guitarra's Expansion to 500 tpd
April 26, 2013
First Majestic Receives Positive Judgment for US$89.6 in Court Litigation
April 17, 2013
First Majestic Earns Socially Responsible Business Distinction Award for Fifth Consecutive Year
April 15, 2013
First Majestic Produces Another Quarterly Record 2.73 Million Silver Eqv. Ounces
April 9, 2013
First Majestic Silver: Del Toro Silver Mine Flotation Circuit Deemed Commercial
March 28, 2013
First Majestic Files Form 40-F Annual Report
March 11, 2013
First Majestic Announces Share Repurchase Program
February 26, 2013
First Majestic Announces Financial Results for Q4 and Year End 2012
February 20, 2013
First Majestic Silver to Announce Fourth Quarter and Year End 2012 Financial Results
February 19, 2013
First Majestic Elects Not to Exercise Right to Match Coeur's Offer for Orko
February 14, 2013
First Majestic Considering Superior Offer from Coeur to Acquire Orko Silver
January 25, 2013
First Majestic Silver Corp.: Production Commences at the Del Toro Silver Mine
January 9, 2013
First Majestic Silver Corp.: Achieved Record Production of 2.6M Silver Eqv. Ounces (2.3M Silver Ounces) in Q4; Produced a Record 9.1M Silver Eqv. Ounces (8.3M Silver Ounces) in 2012
January 2, 2013
First Majestic Appoints VP of Operations
December 19, 2012
First Majestic Announces US$50M Forward Sale Contract on Base Metals
December 16, 2012
First Majestic Announces Friendly Acquisition of Orko Silver
November 14, 2012
First Majestic Earns $24.9M in Third Quarter; Revenues of $63.6M, an Increase of 4%
November 7, 2012
First Majestic Silver Corp.: Third Quarter Financial Results to Be Released on November 14th
October 10, 2012
First Majestic Produces a Record 2.44 Million Silver Equivalent Ounces in Third Quarter
August 27, 2012
First Majestic Announces Appointment of VP of Exploration
August 21, 2012
First Majestic Silver Corp.: Updated Del Toro NI 43-101 Technical Report & Final Permit Received
August 16, 2012
First Majestic Recognized as a Leader in Corporate Social Responsibility
August 14, 2012
First Majestic Reports Second Quarter Financial Results
August 7, 2012
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 14th
July 17, 2012
First Majestic Produces 2.1 Million Silver Equivalent Ounces in Second Quarter
July 3, 2012
First Majestic Completes Acquisition of Silvermex Resources
June 26, 2012
Silvermex Securityholders Approve Plan of Arrangement With First Majestic
May 22, 2012
First Majestic Silver Corp.: Del Toro NI 43-101 Technical Report & Pre-Feasibility Study
May 10, 2012
First Majestic Reports Strong Earnings of $26.4M in Q1 2012, Up 10% Compared With Q1 2011; Revenues Top $57.8M, Up 5% From Q1 2011
April 16, 2012
First Majestic Silver Corp.: First Quarter Production Results and Full Commencement of Commercial Production at La Parrilla
April 3, 2012
First Majestic Announces Friendly Acquisition of Silvermex Resources
March 30, 2012
First Majestic Files Form 40-F Annual Report
March 5, 2012
First Majestic Announces New Record Earnings & Cash Flows for 2011
February 24, 2012
First Majestic Silver to Announce Fourth Quarter and Year End 2011 Financial Results
January 24, 2012
First Majestic Silver Corp.-La Parrilla Mill Expansion to 2,000 tpd Completed: Del Toro Construction Update
January 12, 2012
First Majestic Silver Corp. Achieved Record Production of 1.96M Silver Ounces (2.1M Silver Eqv. Ounces) in Q4; Produced a Record 7.6M Silver Eqv. Ounces in 2011
January 4, 2012
First Majestic Appoints Chief Information Officer
December 30, 2011
First Majestic Names Douglas Penrose as Chairman
November 9, 2011
First Majestic Silver Corp.: Earnings Hit $27.8 Million in Third Quarter
October 26, 2011
First Majestic Silver Corp.: Third Quarter Financial Results to be Released on November 9th
October 12, 2011
First Majestic Announces Q3 Production Results and Commences Commercial Production at La Parrilla
October 7, 2011
First Majestic Silver Corp.: Third Quarter Production Results to Be Released on October 12, 2011-Conference Call Scheduled
September 20, 2011
First Majestic Silver Corp.: First Stage of Expansion at the La Parrilla Processing Plant Completed
September 13, 2011
First Majestic Silver Corp.: Mill Capacity at La Parrilla to Reach 2,000 tpd Following Positive NI 43-101 Pre-Feasibility Study
August 11, 2011
First Majestic Silver Corp.: Record Earnings of $30.6 million in Second Quarter
August 3, 2011
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 11th
July 7, 2011
First Majestic Silver Corp.: Another Record Quarter of Silver Production
May 16, 2011
First Majestic Earns a Record $23.9 Million in First Quarter of 2011
April 7, 2011
First Majestic Silver Corp.: Silver Production Up 25%; Reaches 97% Pure Silver and Maintains Status as "Purest Silver Company in the World"
March 31, 2011
First Majestic Files Form 40-F Annual Report
March 31, 2011
First Majestic Silver Corp.: Update on the Del Toro Silver Mine
February 28, 2011
First Majestic Silver Corp.: 2010 Audited Financial Results Show Record Earnings & Cash Flows; A Breakout Year for First Majestic
January 11, 2011
First Majestic Silver Corp.: Production Up 72% to 6.53 Million oz Ag in 2010; Exceeds Guidance by 9%
December 13, 2010
First Majestic to List on the New York Stock Exchange
December 6, 2010
First Majestic Silver Corp.: La Parrilla Expansion to 1,600 Tonnes Per Day
November 10, 2010
First Majestic Acquires Surface Rights, Royalties and Infrastructure at Real De Catorce Silver Project
November 9, 2010
First Majestic Silver Corp.: Another Record Quarter of Earnings and Cash Flows
October 6, 2010
First Majestic Silver Corp.: Another New Record for Silver Production; 1,823,370 oz Silver Produced in Q3
August 16, 2010
First Majestic Silver Corp.: Record Earnings and Cash Flows. Purest Silver Producer With 93% of Revenue From Silver Production
July 8, 2010
First Majestic Silver Corp.: New Record for Silver Production; Produces 1,538,798 oz Silver
May 13, 2010
First Majestic Silver Corp.: First Quarter Marks 5th Consecutive Quarter of Net Income
April 22, 2010
First Majestic Silver Corp.: 2nd Year Running for Mexican Distinction as a "Socially Responsible Business"
April 13, 2010
First Majestic Silver Corp.: Conference Call to discuss First Quarter Silver Production and Year End Financial Results
April 12, 2010
First Majestic Silver Corp.: Production Increases by 30% to 1,619,403 Equivalent Ounces Silver
April 8, 2010
First Majestic Silver Corp.: La Encantada Achieves Commercial Production
March 24, 2010
First Majestic Silver Corp.: Conference Call to Discuss First Quarter Silver Production and Year End Financial Results
March 22, 2010
First Majestic Silver Corp.: Year End & Fourth Quarter Financial Results
January 11, 2010
First Majestic Silver Corp.: Production Increases by 18%, Reaches New Record
November 26, 2009
First Majestic Silver Corp.: La Encantada Opening Ceremony & Production of First Silver Precipitates
November 13, 2009
First Majestic Completes Acquisition of Normabec Mining Resources; Normabec Spins Out Brionor Resources Inc.
November 12, 2009
First Majestic Silver Corp.: Record Third Quarter Financial Results
November 6, 2009
Normabec Shareholders Approve Plan Of Arrangement With First Majestic
October 13, 2009
First Majestic Silver Corp.: La Encantada Expansion Nearing Completion
October 6, 2009
First Majestic Silver Corp.: Third Quarter Production Results
September 18, 2009
First Majestic Silver Corp.: Settlement of Current Liabilities Closes
September 16, 2009
First Majestic Silver Corp.: Second Tranche of Non-Brokered Private Placement Closes
September 14, 2009
First Majestic to Acquire Normabec Mining Resources
August 20, 2009
First Majestic Silver Corp.: First Tranche of Non-Brokered Private Placement Closes
August 13, 2009
First Majestic Silver Joins OTCQX
August 12, 2009
First Majestic Silver Corp.: Non-Brokered Private Placement and Debt Settlement
July 20, 2009
Second Quarter Production Results
July 16, 2009
Update of Litigation
May 14, 2009
First Majestic Silver Corp.: First Quarter Financial Results
April 27, 2009
First Majestic Silver Corp.: Silver Production Increases 4% in 1st Quarter
March 31, 2009
2008 Year End Financial Results
March 23, 2009
First Majestic Receives Mexican Distinction as a "Socially Responsible Business"
March 17, 2009
First Majestic Silver Corp.: La Parrilla Receives "Clean Industry Certification"
March 5, 2009
First Majestic Silver Corp.: Closing of $21.2 Million Offering
February 26, 2009
First Majestic Silver Corp.: Resource Disclosure Clarification
February 19, 2009
First Majestic Announces Pricing of Offering
February 18, 2009
First Majestic Announces C$25 Million Offering
February 17, 2009
First Majestic Silver Corp.: La Parrilla Silver Mine Updates NI 43-101 Resource
January 20, 2009
First Majestic Silver Corp.: San Martin Updated NI 43-101 Report Increasing Reserves/Resources by 45.81%
January 13, 2009
First Majestic Silver Corp.: Production Increases 27% in 4th Quarter
December 23, 2008
First Majestic Silver Corp.: La Encantada Updated NI 43-101 Report Increasing Reserves By 183%
November 19, 2008
First Majestic Silver Corp.: Operations Update
November 14, 2008
First Majestic Silver Corp.: Third Quarter Financial Results
October 28, 2008
First Majestic Silver Corp.: Another Major Intersection at Del Toro Silver Mine, Drill Hole Cuts 62.05 Metres (203.58 ft) of 422 g/t Ag, 6.29% Pb, 6.78% Zn & 0.74 g/t Au
October 23, 2008
First Majestic Silver Corp.: 3rd Quarter Production Results
October 10, 2008
First Majestic Silver Corp.: Del Toro Silver Mine NI 43-101 Resources of 57 Million Ag eqv. Ounces
September 11, 2008
First Majestic Silver Corp.: Many Positive Developments Underway
August 15, 2008
First Majestic Silver Corp.: Second Quarter Financial Results
July 17, 2008
First Majestic Silver Corp.: Major Intersection at San Juan Silver Mine; Drill Hole Intersects 74.20 Metres (243 ft) of 359 g/t Ag, 7.07% Pb & 7.60% Zn
July 15, 2008
First Majestic Silver Corp.: 2nd Quarter Production Shows Continued Ramp-Up
June 10, 2008
First Majestic Silver Corp.: Major Expansion Launched at La Encantada Silver Mine
May 16, 2008
First Majestic Silver Corp.: Record First Quarter Financial Results
April 29, 2008
First Majestic Silver Corp.: 1st Quarter Production Results
April 22, 2008
First Majestic Silver Corp.: Commissioning of Flotation Circuit at the San Martin Silver Mine
April 17, 2008
First Majestic Silver Corp.: 2007 Year End Financial Results
April 4, 2008
First Majestic Silver Corp.: Exercise and Closing of Over-Allotment Option
April 1, 2008
First Majestic Silver Corp.: Discovery of New High Grade Ore Shoot on the Vacas Vein at the La Parrilla Silver Mine
March 25, 2008
First Majestic Silver Corp.: Closing of $45,475,000 Offering
March 5, 2008
First Majestic Silver Corp.: Drill Intersects 39.6 Metres of 199 g/t Ag, 3.92% Pb & 4.02% Zn at San Juan Silver Mine
January 30, 2008
La Parrilla Silver Mine Update and New NI 43-101 Resource
January 17, 2008
Another Record Quarter of Silver Production
January 14, 2008
Toronto Stock Exchange Listing
December 13, 2007
TSX Conditional Approval
December 3, 2007
Update on the Chalchihuites Group of Properties
November 29, 2007
Highlights from 3rd Quarter Financial Statements
November 13, 2007
Update on the Cuitaboca Silver Project
October 23, 2007
Another Record Quarter of Silver Production
August 30, 2007
Highlights from 2nd Quarter Financial Statements
July 26, 2007
Second Quarter Silver Production Increases
July 4, 2007
La Parrilla Silver Mine Update and New NI 43-101 Resource
June 18, 2007
La Encantada Silver Mine Update and new NI 43-101 Resource
May 31, 2007
Highlights from 1st Quarter Financial Statements
May 28, 2007
San Martin Silver Mine Update and new NI 43-101 Resource
May 10, 2007
Closing of $34,415,000 Private Placement
April 28, 2007
Silver Production increases by 38%
April 20, 2007
Financing Amended
March 28, 2007
First Majestic Files Preliminary Short Form Prospectus

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