Loading ...If I had a silver dollar for every newbie/guilible who mentioned comex vaults, I’d be even richer.
August 20 2023
Absolutely zero Press Release from Investor Relations on this: First Majestic put out 2 “Shelf Offerings” that total approximately $800 million in (near) future dilution to shareholders. The Shelf Offerings, by law, have to be filed on SEC/SEDAR and they are there. But, amazing (not really) that Investor Relations has kept retail investors in the dark about this huge upcoming dilution. 13,000,000+ shares (new dilution) just in 1st six months of 2023. 130 million more shares to go. Strap in
Past 5 years: $1 billion in dilution through New shares. On shelf, ready to be diluted again? – another $800 million. Meantime, silver (equivalent) production forecast have plummeted from 40-50 million to 25-27 million
Oh my, Brent crude over $90/barrel. Think that will hurt pm miners? See how oil industry and governments support the price. Silver miners just dig and sell at continuous losses. Absolutely not a investable plan by any stretch of the imagination.
Indications of new dilution? First Majestic cobbles higher on low volume. They may have even sold some of the new At The Market shares, then they use previous option positions to move the stock higher so institutional buyers of the ATM can sell at quick profit. This has been a often used plan in the past six dilution schemes via the ATM’s. Danger Will Robinson – Danger.
Six mines in “Care & Maintenance” in Mexico. Jerritt gold mine AISC is an astounding $2,745/ounce (Feb 23, 2023 4th Q report). Outstanding Mexican Tax Liability of $550 million – plus penalties. Company is serving on borrowed time. Simply read annual reports – all factual and true.
JANUARY 13TH 2023
$227 MILLION lost in past 12 months. That’s an incredible number for a $1.8 billion market cap company.