Loading ...“Pursuant to the Share Repurchase, the Company has the ability to repurchase up to 10,000,000 common shares of the Company which represents approximately 4.5% of the 221,681,131 issued and outstanding shares of the Company as of March 8, 2021.The notice provides that First Majestic may, during the 12 month period commencing on March 22, 2021 and ending on or before March 21, 2022, purchase up to 10,000,000 common shares through the facilities of the TSX and alternative Canadian marketplaces.Under its prior normal course issuer bid, the Company did not repurchase any shares as of March 17, 2021.”
Note: This big thing below I found somewhere else. Who knows what to believe anymore? Somebody from Gold Eagle used to write like that, but I can’t remember who. Anybody? (No spaces after periods)
“According to First Majestic’s Corporate Presentation there is in bold print 5,100employee’s with only three active mines.At one time this would have amounted to political clout in provinces mines are located in and s source of cheap labor.
But this same labor force must be a drag now on automation ,efficiency and costs..And a source of potential agitation.One of their mines was shut down for security reasons(rumour was (unions trouble).At San Dimas
a specific union got a raise.
Now its precision,speed of information the ability to use and translate this leading to efficiency.An innovative IT infrastructure with digitalization of past information.
GPS precision for drilling leading to blast optimization .Recoveries ,maintenance will not only lower costs but extend mine lives.
One Country-One metal No ex Pats is just the kind of banner institutions will stay away from as diversification of metals mix and jurisdictions make for a more stable investment..That may be an advantage till there was a large tax raise and Royalty added,This taking Mexico out of low tax go to jurisdiction.Another example Covid suspension,national gas blockade, narco terrorism drought
So it seems the identity of this company was promoter driven with unsustainable short lived mines made cost effective in low tax environment with cheap labor and history of mining.Bought cheaply and opened into bull market.
Your now seeing the promoter moving into diversification of jurisdiction,taxation issues and care and maintenance of those original mines.The large direct employee bas being a drag on modernization optimization and now a source of potential agitation.The money spent in compensation and
The disguise of gold production with use of silver equivalents while touting triple digit or even much higher figures short mine lives and usurious royalties.I see a an overvalued company compared to Coeur and Hecla a retail market cap and a much diluted share structure over the last couple years.
They call silver the devils metal for its volatility.
Neumeyer is a promotor out of Vancouver, the perfect front man of scam artists,paid promoters letter writers and research reports promising quick riches huge returns and any minute results.
A decade of hollow promotion of triple digit silver even $1,000 while needing a world wide negative event to bring back a new collection of silver bugs looking for a score.
You guys are dangerous the purveyors of bubbles and volatility the coin flippers ,penny pitchers ,dice rollers with no concern for research or what is truly under the hood.”