Silver Price: $23.27
NYSE: AG $9.96
TSX: FR $13.24
Frankfurt: FMV €8.41

First Majestic Silver Announces Friendly Acquisition of Primero Mining and Restructured Stream with Wheaton Precious Metals

January 12, 2018

All amounts are in U.S. dollars unless otherwise stated

VANCOUVER, British Columbia and TORONTO, Jan. 12, 2018 (GLOBE NEWSWIRE) -- First Majestic Silver Corp. ("First Majestic") (TSX:FR) (NYSE:AG) (Frankfurt:FMV) and Primero Mining Corp. ("Primero") (TSX:P) are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") whereby First Majestic will acquire all of the issued and outstanding common shares of Primero (the "Arrangement"). Under the terms of the Arrangement Agreement, all of Primero’s issued and outstanding common shares will be exchanged for First Majestic common shares on the basis of 0.03325 of a First Majestic common share for each Primero common share (the "Exchange Ratio").

Concurrent with execution of the Arrangement Agreement, First Majestic has entered into agreements with Wheaton Precious Metals International Ltd., a wholly-owned subsidiary of Wheaton Precious Metals Corp. ("WPM") whereby, following closing of the Arrangement, the current silver streaming interest at Primero’s San Dimas silver-gold mine (“San Dimas”) held by WPM will be terminated and First Majestic and WPM will enter into a new stream arrangement based on 25% of the gold equivalent production at San Dimas (the "New Stream") with ongoing payments of $600 per gold equivalent ounce delivered under the agreement. As part of the transaction, WPM will receive 20,914,590 common shares of First Majestic having an aggregate value of $151 million.

The Exchange Ratio implies consideration of C$0.30 per Primero common share, based on the 20day volume weighted average price of the First Majestic common shares on the Toronto Stock Exchange (“TSX”) for the period ending January 10, 2018, representing a 200% premium to the weighted average price of Primero common shares on the TSX over the same period. The total transaction value is estimated at approximately $320 million, consisting of First Majestic equity to be issued to Primero shareholders and WPM described above and certain additional amounts payable in connection with the Arrangement, including repayment of all amounts owing under Primero's existing revolving credit facility, net of Primero cash on hand and the expected repayment of Primero's $75 million of outstanding convertible debentures and various transaction expenses.

Primero operates the 100%-owned San Dimas silver-gold mine in Durango, Mexico, a premier low-cost asset with more than 100 years of mine production history. Primero has identified more than 120 epithermal veins with exploration potential. Together with First Majestic's existing six operating silver mines in Mexico, the combined company is expected to be a premier leading Mexican silver producer with pro forma annualized attributable silver equivalent production of 27-30 million silver equivalent ounces. With a strong balance sheet and liquidity profile and a diversified portfolio of seven producing silver mines in Mexico, the combined company is expected to continue generating strong free cash flow and industry leading exposure to silver prices.

BENEFITS TO FIRST MAJESTIC SHAREHOLDERS

  • Establishes a cornerstone long-lived mine in Durango, Mexico, with well-established, low-cost operations complementary to First Majestic’s existing operations.
  • Builds on First Majestic's strengths in Mexico and underground mining expertise.
  • Accretive on all key metrics including NAV, cash flow, production, and resources to First Majestic shareholders, further diversifying production and free cash flow to First Majestic.
  • The amendment to the existing WPM stream agreement provides for a number of value creation opportunities with alignment between silver and gold production and increased post-stream cash flow at San Dimas.

BENEFITS TO PRIMERO SHAREHOLDERS

  • Provides a comprehensive solution for Primero's capital structure and delivers a significant and immediate up-front premium to Primero shareholders.
  • Provides equity participation in a pro forma company with a strong balance sheet and diversified portfolio of seven operating mines with strong internal growth profile.
  • Superior financial strength and flexibility to support advancement of various development projects and silver production growth.
  • Enhances capital markets presence, increased analyst coverage and trading liquidity through equity participation in First Majestic.
  • Ability to leverage First Majestic's long-term good standing with the local unions, community and Mexico's tax authority.

Keith Neumeyer, CEO of First Majestic, said, "The acquisition of Primero is a highly compelling transformative transaction that further enhances First Majestic's operating platform, adding a very high quality, long-lived asset in San Dimas, all in First Majestic's backyard in Durango, Mexico. Most importantly, the New Stream and related amendments with WPM repositions the asset by maximizing silver exposure for our shareholders, while significantly increasing the free cash flow from San Dimas. We look forward to working with the operating team at San Dimas and with WPM. We also welcome WPM as a significant business partner and shareholder in First Majestic going forward."

Joseph Conway, Interim President and CEO of Primero, stated, "Over the last year Primero has conducted a formal strategic review process and evaluated numerous strategic alternatives to address our debt maturity obligations. We are pleased with the business combination with First Majestic as it provides our shareholders an attractive immediate premium as well as the opportunity to retain exposure to the high quality, long-lived San Dimas asset that they invested in, with a significantly reduced stream. This transaction also provides our shareholders with exposure to First Majestic’s enhanced capital markets presence, liquidity and balance sheet, as well as leveraging their local Mexican expertise and history of operations. I want to thank the San Dimas operating team for their dedication and wish them well in their future with First Majestic, we believe together they have the opportunity to generate significant value for our shareholders."

Randy Smallwood, President and CEO of WPM, said, "With the New Stream being linked to a combination of gold and silver production, we believe San Dimas will continue to deliver significant value to WPM for many years to come while also providing economic and social opportunities to the community of Tayoltita. First Majestic has a long history of operating in Mexico and an expertise in mining narrow vein underground deposits similar to San Dimas. Given their experience and renewed focus on mining the entire deposit, including the silver rich areas, we are excited to welcome First Majestic as a partner."

BOARD OF DIRECTORS' RECOMMENDATION

The Arrangement Agreement has been unanimously approved by the board of directors of each of First Majestic and Primero. The Primero board of directors recommends that Primero shareholders vote in favour of the Arrangement. Rothschild (Canada) Inc. has provided an opinion to the board of directors of Primero, stating, as of the date of the opinion and based upon and subject to the assumptions, limitations, and qualifications set forth therein, the Exchange Ratio to be received by the holders of Primero common shares pursuant to the Arrangement is fair, from a financial point of view, to such holders.

All executive officers and directors of Primero have entered into lockup agreements and have agreed to vote their Primero securities in favour of the Arrangement and, if applicable, the debentureholder resolution approving amendments to the debenture indenture (as discussed below).

TRANSACTION SUMMARY

Under the terms of the Arrangement Agreement, Primero shareholders will receive 0.03325 common shares of First Majestic for each Primero common share held as of the effective date of the Arrangement. Pursuant to the transaction, First Majestic will issue an aggregate of approximately 6,418,774 common shares to Primero shareholders. Upon completion of the Arrangement and the restructuring of the New Stream, WPM and current Primero shareholders will own approximately 11% and 3%, respectively, of the issued and outstanding common shares of First Majestic.

The Arrangement will be effected by way of a plan of arrangement under the Business Corporations Act (British Columbia). The Arrangement will require approval by 66 2/3 percent of the votes cast at a special meeting of Primero shareholders and any additional shareholder approvals which may be required under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. In addition to shareholder and court approvals, the Arrangement is subject to applicable regulatory approvals (including Mexican anti-trust clearance) and the satisfaction of certain other closing conditions customary in transactions of this nature.

The Arrangement will also provide for the issuance by First Majestic of an aggregate of approximately 226,476 replacement stock options (the "Replacement Options") (assuming no exercise of existing Primero options) to Primero optionholders who do not exercise their Primero options prior to the effective time of the Arrangement, at exercise prices adjusted by the Exchange Ratio. Under the Arrangement all existing warrants of Primero will become exercisable to acquire First Majestic common shares at exercise prices adjusted by the Exchange Ratio. The Arrangement will also provide that upon the Arrangement becoming effective all existing deferred share units and phantom share units of Primero will be paid out in cash in an amount equal to C$0.30 per deferred share unit or phantom share unit.

Holders of Primero’s $75 million 2020 convertible debentures (the "Debentures") will be asked to approve an amendment to the terms of their governing indenture pursuant to which the maturity date of the Debentures will be accelerated to the next business day following the effective date of the Arrangement and the Debentures will then be paid in full in accordance with the terms of the indenture. The debentureholder amendment will require approval by debentureholders holding 2/3 of the outstanding principal amount of the Debentures at a special meeting of Primero debentureholders which will be held immediately after the Primero shareholder meeting. Approval by the debentureholders is not a condition to closing of the Arrangement. If the approval of the debentureholders is not obtained, then under the terms of the indenture, First Majestic will be required to assume the obligations of Primero under the indenture and will be required to offer to repurchase all of the Debentures following closing of the Arrangement.

The Arrangement Agreement includes customary provisions including non-solicitation of alternative transactions, right to match superior proposals and fiduciary-out provisions. In addition, Primero has agreed to pay a termination fee to First Majestic of $10 million upon the occurrence of certain events. First Majestic and Primero have each agreed to pay a C$2 million expense reimbursement fee to the other party as reimbursement for certain expenses upon termination of the Arrangement Agreement due to the occurrence of certain other events.

Over the last number of months, Primero and First Majestic have held high level discussions with Mexico’s tax authority, the Servicio de Administracion Tributaria ("SAT"), in an effort to find a favourable resolution to the SAT litigation and the tax situation related to San Dimas’s silver production for the years 2010 to 2014. First Majestic and Primero are continuing to advance discussions with SAT although there can be no certainty on the timing or outcome of such discussions.

SAN DIMAS STREAM RESTRUCTURING

In connection with the Arrangement, First Majestic and WPM have entered into agreements concurrent with execution of the Arrangement Agreement whereby, following closing of the Arrangement, the current silver streaming interest at San Dimas held by WPM will be terminated in exchange for entering into the New Stream and 20,914,590 common shares of First Majestic having an aggregate value of $151 million. Under the New Stream, WPM will be entitled to receive 25% of the gold production and 25% of the silver production converted to gold at a fixed exchange ratio of 70:1 at San Dimas in exchange for ongoing payments equal to the lesser of $600 subject to a 1% annual inflation adjustment and the prevailing market price for each gold ounce delivered under the agreement.

The New Stream will provide for a significant reduction in the amount of payable metal compared to the current stream which is expected to allow for greater free cash flow generation at San Dimas. By basing the New Stream on gold equivalent production at San Dimas, the New Stream is expected to maximize First Majestic's exposure to silver. First Majestic and WPM have agreed to fix the gold to silver ratio that will be used to calculate the gold equivalent production at 70:1, with provisions to adjust the gold to silver ratio if the average gold to silver ratio moves above or below 90:1 or 50:1, respectively, for a period of 6 months.

In exchange for agreeing to terminate the existing stream on San Dimas, First Majestic will issue 20,914,590 common shares of First Majestic to WPM with an aggregate value of $151 million based on the 20-day volume weighted average price of the First Majestic common shares on the TSX for the period ending January 10, 2018. The common shares to be issued to WPM will be subject to a 6 month hold period (subject to certain exceptions), with volume selling restrictions thereafter.

TRANSACTION FINANCING

The proposed repayment of the Debentures, amounts outstanding under Primero's existing revolving credit facility and other costs related to the closing of the Arrangement, totaling approximately $120 million will be funded with a combination of:

  • First Majestic's current cash on hand ($118 million as of December 31, 2017);
  • $150 million in new credit facilities committed by Scotiabank which will replace First Majestic's existing credit facility; plus
  • Cash on hand at Primero.

TIMING

Full details of the proposed transaction will be included in Primero's proxy statement and information circular, which is expected to be mailed to shareholders in mid to late February 2018. It is anticipated that the Primero shareholder and debentureholder meetings and closing of the proposed transactions will take place in mid to late March 2018.

In order to facilitate the closing of the Arrangement, WPM has agreed to extend the guarantee previously provided by WPM and certain of its subsidiaries under Primero’s existing revolving credit facility to April 30, 2018.

ADVISORS AND COUNSEL

TD Securities Inc. acted as exclusive financial advisor and McCullough O'Connor Irwin LLP and Dorsey and Whitney LLP acted as legal counsel to First Majestic.

Scotia Capital Inc. and Rothschild (Canada) Inc. acted as financial advisors to Primero. Stikeman Elliott LLP and Millbank, Tweed, Hadley and McCloy LLP acted as Primero's legal advisors.

CONFERENCE CALL

First Majestic will be holding a conference call and webcast on Friday, January 12, 2018 at 8 am PDT (11 am EDT).

To participate in the conference call, please dial the following:

Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5430
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791

Participants should dial in 10 minutes prior to the conference.

Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call at www.firstmajestic.com.

The conference call will be recorded and you can listen to an archive of the conference by calling:

Toll Free Canada & USA: 1-800-319-6413
Outside of Canada & USA: 1-604-638-9010
Access Code: 1991 followed by the # sign

An archived webcast of the conference call will also be available at www.firstmajestic.com.

ABOUT FIRST MAJESTIC

First Majestic is a mining company focused on growing primary silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. First Majestic presently owns and operates six producing silver mines; the La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and the Santa Elena Silver/Gold Mine. Production from these six mines is projected to be between 10.0 to 10.6 million ounces of pure silver or 15.7 to 16.6 million ounces of silver equivalents for 2017.

For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or Investor Relations at 1.866.529.2807.

ABOUT PRIMERO

Primero Mining Corp. is a Canadian-based precious metals producer that owns 100% of the San Dimas silver-gold mine in Mexico.

For further information, contact Investor Relations at 1.416.814.3160.

 

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward‐looking information” under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", “would”, “could”, "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: closing of the Arrangement; termination of the current stream and adoption of the New Stream; anticipated benefits of the Arrangement to First Majestic, Primero and their respective shareholders; the timing and receipt of required shareholder, court, stock exchange and regulatory approvals for the Arrangement; the ability of First Majestic and Primero to satisfy the other conditions to, and to complete, the Arrangement; the timing and receipt of debentureholder approval, the anticipated timing of the mailing of Primero’s proxy statements and information circular regarding the Arrangement; the development of San Dimas; future mineral production; liquidity, enhanced value and capital markets profile of First Majestic; future growth potential for First Majestic, Primero and their respective businesses; estimates regarding future production and future profitability; estimates of production costs; and completion of financing.

In respect of the forward‐looking statements and forward-looking information concerning the anticipated completion of the proposed Arrangement and the anticipated timing for completion of the Arrangement, the parties have provided such statements in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the time required to prepare and mail shareholder meeting materials, including the required information circular and proxy statement; the ability of the parties to receive, in a timely manner, the necessary shareholder, court, stock exchange and regulatory approvals; the timing and receipt of Debentureholder approval and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement. These dates may change for a number of reasons, including, but not limited to, unforeseen delays in preparing meeting materials; inability to secure necessary shareholder, court, stock exchange and regulatory approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward‐looking statements and forward-looking information contained in this news release concerning these times and dates.

Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of First Majestic, future growth potential for First Majestic, Primero and their respective businesses, future mine development plans, estimates regarding the life of and recovery of minerals at San Dimas and estimates of production costs is based on management of the applicable parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that the applicable parties’ management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; costs of development and production; termination of the current stream and adoption of the New Stream; estimated production rates for silver and other metals produced by the parties; the estimated costs of development of development projects; First Majestic and/or Primero’s ability to operate in a safe and effective manner and their ability to obtain financing on reasonable terms.

These statements reflect the parties’ respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by the respective parties, 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 forward-looking information and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing of the Arrangement including, without limitation, receipt of all necessary shareholder, court, stock exchange and regulatory approvals or consents and lack of material changes with respect to First Majestic and Primero and their respective businesses, all as more particularly set forth in the Arrangement Agreement; the synergies expected from the Arrangement not being realized; business integration risks; fluctuations in general macro‐economic conditions; fluctuations in securities markets and the market price of First Majestic’s common shares; and the factors identified under the caption "Risk Factors" in First Majestic’s annual information form and under the caption "Risk Factors" in Primero’s annual information form. In addition, the failure of a party to comply with the terms of the Arrangement Agreement may result in that party being required to pay a fee to the other party, the result of which could have a material adverse effect on the paying party’s financial position and results of operations and its ability to fund growth prospects and current operations. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the parties have 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 parties do not intend, and do not assume any obligation, to update these forward‐looking statements or forward-looking 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.

October 13, 2020
First Majestic Produces 3.2M Oz Silver and 25,771 Oz Gold (5.2M Silver Eqv. Oz) in the Third Quarter
September 25, 2020
First Majestic Provides SAT Tax Dispute Update
September 21, 2020
First Majestic Announces Filing of Early Warning Report for Acquisition of Shares of Silver Dollar Resources Inc.
September 17, 2020
First Majestic Announces Closing of CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
September 10, 2020
First Majestic Announces CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
September 1, 2020
First Majestic Publishes ESG and Sustainability Report
August 6, 2020
First Majestic Reports Second Quarter Financial Results
July 15, 2020
First Majestic Produces 3.5 Million Silver Equivalent Ounces from Partial Operations in Second Quarter; Updates 2020 Guidance & Announces Conference Call Details
July 2, 2020
First Majestic Completes Acquisition of Springpole Silver Stream
June 11, 2020
First Majestic Acquires Silver Stream on First Mining’s Springpole Project
June 10, 2020
First Majestic Announces Voting Results from Annual General Meeting and Appointment of New Director
May 14, 2020
First Majestic Reports First Quarter Financial Results; Temporarily Postpones the Sale of Silver and Gold Due to COVID-19; Announces Operational Restart Procedures
May 13, 2020
First Majestic Initiates NAFTA Arbitration Process Against Mexico for Violating International Law
April 14, 2020
First Majestic Produces 6.2 Million Silver Equivalent Ounces in First Quarter
April 3, 2020
First Majestic Provides Update on Operations in Response to COVID-19
March 30, 2020
First Majestic Updates 2019 Mineral Reserve and Resource Estimates
March 27, 2020
First Majestic Acquires Shares in GR Silver - Early Warning
March 18, 2020
First Majestic Renews Share Repurchase Program
February 24, 2020
First Majestic Announces High-Grade Drill Results from its 2019 Exploration Program at the Ermitaño project within the Santa Elena land package
February 19, 2020
First Majestic Announces Financial Results for Q4 and Year End 2019
February 3, 2020
First Majestic Announces New Chief Operating Officer
January 21, 2020
First Majestic Announces 2020 Production and Cost Guidance
January 15, 2020
First Majestic Produces 6.2M Ounces in Q4 and Record 25.6M Ounces in 2019; Announces New Director & Conference Call Details
November 7, 2019
First Majestic Reports Third Quarter Financial Results
October 15, 2019
First Majestic Produces 6.6 Million Silver Equivalent Ounces in Third Quarter
August 7, 2019
First Majestic Reports Second Quarter Financial Results and Updates 2019 Production and Cost Guidance
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
May 9, 2019
First Majestic Reports First Quarter Financial Results
May 1, 2019
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
November 7, 2018
First Majestic Reports Third Quarter Financial Results
November 6, 2018
First Majestic Announces Updated Release Date for Third Quarter Financial Results
October 15, 2018
First Majestic Files Preliminary Base Shelf Prospectus
October 15, 2018
First Majestic Produces a Record 6.7 Million Silver Equivalent Ounces in Third Quarter
September 10, 2018
First Majestic and Evrim Resources Agree to Exercise of Ermitaño and Cumobabi Option Agreements
August 13, 2018
First Majestic Reports Second Quarter Financial Results
July 16, 2018
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
May 9, 2018
First Majestic Reports First Quarter Financial Results
May 9, 2018
Primero Announces Receipt of Mexican Antitrust Clearance for Arrangement With First Majestic and Files First Quarter Financial Statements on SEDAR
April 19, 2018
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
February 28, 2018
First Majestic Announces Financial Results for Q4 and Year End 2017
February 15, 2018
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
January 16, 2018
First Majestic Produces 16.2M Silver Eqv. Oz in 2017 (4.1M Silver Eqv. Oz in Q4); Announces 2018 Production Outlook and Cost Guidance
January 12, 2018
First Majestic Silver Announces Friendly Acquisition of Primero Mining and Restructured Stream with Wheaton Precious Metals
January 9, 2018
First Majestic Provides Review of 2017 Exploration Program and Plans for 2018
December 20, 2017
First Majestic files updated NI 43-101 technical reports on its Del Toro, La Parrilla and San Martin Silver Mines
November 2, 2017
First Majestic Reports Third Quarter Financial Results
October 17, 2017
First Majestic Produces 4.0M Silver Eqv. Oz in Third Quarter
October 3, 2017
First Majestic Reports Accident at La Encantada
August 3, 2017
First Majestic Reports Second Quarter Financial Results
July 11, 2017
First Majestic Produces 3.9M Silver Eqv. Oz in Second Quarter
June 2, 2017
First Majestic to Resume Operations at La Encantada
May 26, 2017
First Majestic Announces Voting Results from Annual General Meeting
May 24, 2017
First Majestic Announce illegal Blockade at La Encantada
May 4, 2017
First Majestic Reports First Quarter Financial Results
April 20, 2017
First Majestic Produces 4.3M Silver Eqv. Oz in First Quarter
March 31, 2017
First Majestic Updates Mineral Reserve and Resource Estimates for YE2016 and Files Form 40-F Annual Report
March 16, 2017
First Majestic Renews Share Repurchase Program
February 28, 2017
First Majestic Appoints New COO and New Member to Board of Directors
February 22, 2017
First Majestic Announces Financial Results for Q4 and Year End 2016
January 17, 2017
First Majestic Produces a Record 18.7M Silver Eqv. Oz in 2016 (4.4M Silver Eqv. Oz in Q4); Announces 2017 Production Outlook and Cost Guidance
November 9, 2016
First Majestic Reports Third Quarter Financial Results
October 27, 2016
Third Quarter Financial Results to be Released on November 9
October 13, 2016
First Majestic Achieves New Record in Silver Production; Produces 4.5 Million Silver Eqv. Ounces in Third Quarter
September 15, 2016
First Majestic Announces Resignation of Ramon Davila From Board of Directors
August 10, 2016
First Majestic Reports Second Quarter Financial Results
July 25, 2016
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 10
July 12, 2016
First Majestic Produces 4.7 Million Silver Eqv. Ounces in Second Quarter
May 27, 2016
First Majestic Announces Election of Directors
May 16, 2016
First Majestic Silver Corp. Changes Annual General Meeting Time
May 12, 2016
First Majestic Silver Corp. Announces Closing of C$50 Million Bought Deal Financing; Over-Allotment Option Fully Exercised
May 10, 2016
First Majestic Reports First Quarter Financial Results
May 5, 2016
First Majestic Revises Date of First Quarter Financial Results to May 10
April 25, 2016
First Majestic Silver Corp.: First Quarter Financial Results to be Released on May 11
April 22, 2016
First Majestic Silver Corp. Announces C$50 Million Bought Deal Financing
April 14, 2016
First Majestic Produces a Record 5.1 Million Silver Eqv. Ounces in First Quarter
March 31, 2016
First Majestic Updates Mineral Reserve and Resource Estimates for Year End 2015 and Files Form 40-F Annual Report
March 28, 2016
First Majestic Silver Corp. Announces Updated La Encantada NI 43-101 Technical Report
March 14, 2016
First Majestic Renews Share Repurchase Program
February 25, 2016
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 Promotion of Martin Palacios to Chief Transformation Officer
April 6, 2015
First Majestic Announces Acquisition of Shares of First Mining Corp.
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
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

Subscribe