First Majestic Silver

First Majestic Silver obtained construction permits for the Santo Niño and Navidad portals at its Santa Elena mine and plans to invest an additional $12 million this year to accelerate underground access and prepare Santo Niño for near-term mining. Recent infill drilling returned significant high-grade silver and gold intercepts that exceeded initial models and support conversion of inferred resources to indicated. Management expects these targets to become core contributors to Santa Elena and to materially extend the mine’s life as resource conversion and infrastructure work continues. » Más en finance.yahoo.com

First Majestic Silver agreed to sell its San Martin silver-gold mine in Jalisco, Mexico, to Flextronics Supply and Service for total proceeds of $90 million. The buyer will acquire all shares of the subsidiary holding the mine and associated Jalisco properties, with $2.5 million paid upfront and the remaining $87.5 million paid in scheduled instalments, including a $35 million final payment due August 31, 2032. The deal is subject to customary closing conditions and Mexican antitrust approval, with closing expected in the fourth quarter of 2026. San Martin has been under care and maintenance since July 2019. » Más en finance.yahoo.com

First Majestic Silver reported Q2 production of 3.8 million ounces of silver and 34,660 ounces of gold and raised its 2026 production outlook to 14.6–15.5 million attributable ounces of silver (+10%) and 128,000–135,000 ounces of gold (+7%) thanks to higher throughput and recovery rates at four Mexican underground mines. Q2 production also included 16.5 million lb of zinc, 9.0 million lb of lead and 252,938 lb of copper; La Encantada and Santa Elena showed significant gains, while San Dimas and Los Gatos were impacted by a labor dispute/technical issues and a rockfall, respectively. The 2026 capex budget was increased to $318–344 million, mainly for the Jerritt Canyon restart program (planned start H2 2027) and development projects, and AISC are estimated at $27.69–28.77/Ag-equivalent. The company has more cash than debt and a current ratio of 2.73; Neil Beaumont was appointed CFO. » Más en de.investing.com