Key Developments: First Majestic Silver Corp (AG)

AG on New York Consolidated

10.37USD
24 May 2013
Price Change (% chg)

$0.07 (+0.68%)
Prev Close
$10.30
Open
$10.28
Day's High
$10.58
Day's Low
$10.19
Volume
690,778
Avg. Vol
1,157,187
52-wk High
$24.20
52-wk Low
$9.40

Search Stocks

Latest Key Developments (Source: Significant Developments)

First Majestic Silver Corp Announces Share Repurchase Program
Monday, 11 Mar 2013 07:30am EDT 

First Majestic Silver Corp announced that the board of directors has approved a share repurchase program pursuant to a normal course issuer bid in the open market through the facilities of the Toronto Stock Exchange (TSX) or alternative Canadian market places over the next 12 months. Pursuant to the Share Repurchase, the Company proposes to repurchase up to 5,848,847 common shares of the Company which is the maximum number of shares permitted to be purchased under the TSX rules and represents 5% of the 116,976,940 issued and outstanding shares of the Company as of March 1, 2013.  Full Article

First Majestic Silver Corp Announces USD50 Million Forward Sale Contract on Base Metals
Wednesday, 19 Dec 2012 07:30am EST 

First Majestic Silver Corp announced that it has entered into a USD50 million forward sale contract with Bank of America Merrill Lynch on a portion of its future lead and zinc production. The Company has executed the forward sale contract at fixed prices of USD1.01 per pound (USD2,236 per metric tonne) for lead and USD0.96 per pound (USD2,116 per metric tonne) for zinc. The contract term is valid from January 2013 to June 2016, with a six month repayment holiday from January to June 2013. The forward sale of base metals can be repaid with metal from any of First Majestic's operations and represents approximately 26% of the Company's total estimated lead production and 33% of its estimated zinc production over this period. The purpose of this contract is to fund continuing expansion plans and for general working capital.  Full Article

First Majestic Silver Corp. Revises FY 2012 Production Guidance
Tuesday, 17 Jul 2012 07:30am EDT 

First Majestic Silver Corp. announced that following the recent closing of the Silvermex acquisition, the Company's fiscal 2012 production guidance has been adjusted for the additional production from the La Guitarra Silver Mine as well as other operational improvements at the existing operations. The Company now expects to produce between 8.3 to 9.1 million pure silver ounces, up from the previous fiscal 2012 guidance of 8.2 to 8.7 million silver ounces. Total silver equivalent production is now expected to be between 9.1 to 9.7 million ounces, up from the previous guidance of 8.8 to 9.3 million equivalent ounces.  Full Article

First Majestic Silver Corp. Completes Acquisition Of Silvermex Resources Inc
Tuesday, 3 Jul 2012 10:35am EDT 

First Majestic Silver Corp. and Silvermex Resources Inc announced the completion of the plan of arrangement (the Arrangement) previously announced in the joint news release of First Majestic and Silvermex dated April 3, 2012. Under the arrangement, First Majestic has acquired all of the issued and outstanding common shares of Silvermex. Shareholders of Silvermex will receive 0.0355 First Majestic shares and CAD0.0001 for each held share of Silvermex. With the Arrangement now complete, shares of Silvermex are anticipated to be delisted from the TSX effective at the close of business on July 6, 2012. Shareholders of Silvermex will receive shares of First Majestic and cash to which they are entitled upon delivery to Computershare Trust Company of Canada (Computershare) of their Silvermex share certificates and completed letters of transmittal together with other required documents. Shareholders are encouraged to contact Computershare for further information concerning the exchange process.  Full Article

First Majestic Silver Corp. Announces Acquisition Of Silvermex Resources Inc
Tuesday, 3 Apr 2012 10:24am EDT 

First Majestic Silver Corp. and Silvermex Resources Inc. announced that they have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Silvermex for a consideration of 0.0355 common shares of First Majestic (the "Exchange Ratio") and CAD0.0001 in cash per common share of Silvermex. The offer values Silvemex at approximately CAD0.60 per share, representing a premium of approximately 33% to the closing price of Silvermex as at April 2, 2012 and approximately 43% to the 30 day volume weighted average price ("VWAP"). The transaction will be implemented by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).  Full Article

First Majestic Silver Corp. Names Douglas Penrose As Chairman
Friday, 30 Dec 2011 02:41pm EST 

First Majestic Resource Corp. announced that Douglas Penrose has been appointed as Chairman of the Board effective January 1, 2012. In addition to his new role, Mr. Penrose will continue to serve as the Chairman of the Audit Committee. Mr. Penrose is succeeding Robert McCallum, who plans to resign as Chairman of the Board to deal with personal issues and spend more time with his family. The board of directors also wishes to thank Mr. McCallum for his past service and contribution to the Company.  Full Article

First Majestic Silver Corp. Revises FY 2011 Production Guidance
Wednesday, 9 Nov 2011 08:00am EST 

First Majestic Silver Corp. announced that the La Parrilla construction is coming to an end and production levels are expected to improve and action is being taken at the La Encantada to improve recoveries, management feels it's prudent to revise its previous production guidance for fiscal 2011 to 7.6 million ounces of silver equivalents which is anticipated to include 7.3 million ounces of silver and 0.3 million ounces of silver equivalents in the form of lead, zinc, gold and iron.  Full Article

  • Previous
  • Next

First Majestic Silver Corp News

UPDATE 1-First Majestic cuts spending as silver prices fall

May 15 - Canada's First Majestic Silver Corp cut its 2013 capital expenditure estimate by 16 percent due to a drop in silver prices and said it could make further cuts later in the year.

» More AG News

Earnings vs. Estimates

» More Financials
Search Stocks