First Majestic Silver Corp.

First Majestic Silver Corp. is committed to building a senior silver producing mining company based on an aggressive development and acquisition plan with a focus on Mexico. The company presently owns and operates three producing silver mines in Mexico—the La Encantada Silver Mine, the La Parrilla Silver Mine and the San Martin Silver Mine. Production from these three mines is anticipated to be approximately 4.5 million ounces of silver in 2009 (5.0 silver eqv.) with further increases planned in 2010 and beyond.

View video of opening of La Encantada mine. (12/14/09) BNN features First Majestic Silver. (11/26/09)

"I really like First Majestic Silver Corp. (TSX:FR; OTCQX:FRMSF). They have done some things to come around the smelter issues at their three poly-metallic mines—and by the way, I have just moved First Majestic from the watch list to the Producing Explorers. On a recent trip I was able to spend some time with Keith Neumeyer, First Majestic's president and CEO. They have three mines—all with silver-lead-zinc ore. They have made some significant improvements at all three of them to increase production. As I have said, removing the base metals can be uneconomical, so First Majestic has installed leach systems to remove the silver and pour silver dore bars onsite. The floatation cells are still in place, but the lead and zinc concentrates are not produced, unless they are economical. This allows them to increase both production and profitability. They have an excellent team in Mexico and have been building resources at all their mines. They recently purchased Normabec Mining who owns the old Real de Catorce Silver mine in San Luis Potosi State. I have visited this property and it has huge potential. Keith tells me they are going to slow down capital spending and focus on profits this year. They could generate $30 million in free cash flow."
    -   The Gold Report Interview with Trey Wasser (Pt. II) (01/11/10)

"Management of First Majestic is committed to building a senior silver producing mining company based on the company's current portfolio of projects focused on silver in Mexico. First Majestic owns three producing silver mines, the La Parrilla Silver Mine, the San Martin Silver Mine and the La Encantada Silver Mine and, an additional mine under pre-feasibility; the Del Toro Silver Mine.

Watch for a Trader Tracks Trading Alert recommending a purchase of their shares. We see an opportunity in 2010 for C$6.00-C$7.00 as a minimum. When silver prices move into the next larger Phase II above US$22.50, watch for $25–$26 and then $30.00 per ounce. In our view, shares of CA: FR will rise exponentially considering their current and future holdings and production.

With a management team comprised of a proven company and mine builders; shareholders are poised to capitalize on First Majestic's rapid evolution into a world-class silver producer."
    -   Trader Tracks (12/23/09)

"First Majestic has three producing mines: La Encantada, La Parrilla, and San Martin, and another two advanced-stage silver projects—the Del Toro and the recently acquired Real de Catorce. The company is on pace to produce about 4.3 million ounces of silver equivalent in 2009. That in itself is an important fact, as it clearly sets the company apart from its peer group in terms of production growth to date.

In our opinion, within its peer group the company has the most impressive growth profile. La Encantada has now become the flagship project, at least for some time going forward. Expansion should take production at this one mine to over 4 million oz of silver in 2010, which would roughly equal production for the whole company in 2009. Moreover, it should reduce production costs by shifting the end product from concentrate to doré bars. According to the company this should shave off $3/oz in smelting costs for all silver produced at this mine. That amounts to $12+ million in savings, which should become all profit to the company.

. . .There are two points of note here:

1. First Majestic appears to have reached the stage where it can finance its operations, including expansions and organic growth from cash flow. This should curb further shareholder dilution. . .
2. The company is turning profitable on an earnings basis and poised to post aggressive EPS numbers going forward.

"I adjusted the stop/loss up to $2.60 from $2.30 with the higher price in the stock. They just put out their last qtr. report and all is looking good. . .First Majestic has had a very active quarter of operations with a significant improvement in cash flow from operations related to lower costs of operations combined with higher production and increased revenues from silver sales. The company is now commissioning the new La Encantada plant, which will increase daily production significantly, taking the company from current levels to approximately 6.3 million ounces in 2010."
    -   Struthers Resource Stock Report (11/16/09)

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