First Majestic Silver(TSX:AG)

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States.

Investor website: https://www.firstmajestic.com/

About

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company owns and operates four producing underground mines in Mexico: the Los Gatos Silver Mine, the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, along with a portfolio of development and exploration assets, including the Jerritt Canyon Gold project in Nevada. The Company aims to benefit from rising silver prices and is committed to socially responsible mining, striving to become the world’s largest primary silver producer.

Verified company data

Cash position
$110.1 million
Shares outstanding
493724650
Fully diluted shares
183,650,405
Mineral resource
Measured and Indicated Mineral Resource Estimates with an Effective Date of December 31, 2025, for Los Gatos (70%), Santa Elena, San Dimas, La Encantada, and Jerritt Canyon Mines. Inferred Mineral Resource Estimates with an Effective Date of December 31, 2025, for Los Gatos (70%), Santa Elena, San Dimas, La Encantada, and Jerritt Canyon Mines. 1. Mineral Resource estimates are classified per CIM Definition Standards and NI 43-101. 2. The Mineral Resource estimates have an effective date of December 31, 2025. Sample data was collected through a cut-off date of December 31, 2025 for the five properties. All properties account for relevant technical information and mining depletion through December 31, 2025. 3. The Los Gatos Mineral Resources are reported on a 70% First Majestic attributable basis. 4. Mineral Resource estimates were supervised or reviewed by David Rowe, CPG, an employee of First Majestic and the “Qualified Person” (as such term is defined in NI 43-101) responsible for the above Mineral Resource estimates. 5. AgEq grade is estimated considering metal price assumptions, metallurgical recovery for the corresponding mineral type/mineral process and the metal payable of the corresponding contract of each mine. Estimation details are listed in the description of each mine set out in the 2025 AIF. 6. Metal prices considered for all Mineral Resource estimates were $38.50/oz Ag, $3,400/oz Au, $1.05/lb Pb, $1.40/lb Zn and $4.75/lb Cu. 7. The cut-off grades and cut-off values used to report Mineral Resources are different for all mines. The cut-off grades, values and economic parameters are listed in the applicable section describing each mine in the 2025 AIF. 8. Mineral Resources are reported within mineable stope or open pit shapes from the cut-off values calculated using the stated metal prices and metal recoveries in the description of each mine set out in the 2025 AIF. 9. No dilution was applied to the Mineral Resources which are reported on an in-situ basis. 10. Tonnage is expressed in millions of tonnes; metal content is expressed in millions of ounces for silver, silver equivalent and gold and millions of pounds for copper, lead, and zinc. Totals may not add up due to rounding. 11. Measured and Indicated Mineral Resources are reported inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 12. The technical reports from which the above-mentioned information is derived are cited under the heading “Scientific and Technical Information – Technical Reports for Material Properties” in the 2025 AIF.
Projects
["#### Jerritt Canyon\n\n gold mine\n\n exploration & development\n\n measured & indicated\n\n 1,691k au oz\n\n inferred\n\n 1,542k au oz","#### Los Gatos\n\n silver mine\n\n 2024 production (100% basis)\n\n 15.6m ageq oz\n\n (9.7m ag oz + 59.7m zn lbs + 46.4m pb lbs + 53k au oz)\n\n 2024 all-in sustaining costs\n\n n/a – acquired january 16, 2025\n\n proven & probable reserves\n\n tba\n\n measured & indicated\n\n tba\n\n inferred\n\n tba","#### Santa Elena\n\n silver/gold mine\n\n 2024 production\n\n 10.3m ageq oz\n\n (1.5m ag oz + 104k au oz)\n\n 2024 all-in sustaining costs\n\n $14.40\n\n proven & probable reserves\n\n 10.5m ag + 307k au oz\n\n measured & indicated\n\n 16.3m ag + 435k au oz\n\n inferred\n\n 10.5m ag + 222k au oz","#### Springpole Project\n\n gold & silver project\n\n location\n\n 110 km northwest of the town of red lake, ontario, canada\n\n area\n\n 70,000 hectares\n\n metals\n\n stream on 50% of payable silver","#### San Dimas\n\n silver/gold mine\n\n 2024 production\n\n 8.8m ageq oz\n\n (4.5m ag oz + 50k au oz)\n\n 2024 all-in sustaining costs\n\n $21.06\n\n proven & probable reserves\n\n 30.4m ag + 364k au oz\n\n measured & indicated\n\n 51.3m ag + 627k au oz\n\n inferred\n\n 39.0m ag + 467k au oz","#### San Martin\n\n silver mine\n\n measured & indicated\n\n 9.0m ag + 17k au oz\n\n inferred\n\n 18.4m ag + 29k au oz","#### La Encantada\n\n silver mine\n\n 2024 production\n\n 2.4m ageq oz\n\n 2024 all-in sustaining costs\n\n $28.31\n\n proven & probable reserves\n\n 15.3m ag oz\n\n measured & indicated\n\n 28.3m ag oz\n\n inferred\n\n 15.5m ag oz","#### Del Toro\n\n silver mine\n\n measured & indicated\n\n 3.8m ag + 8k au oz\n\n inferred\n\n 7.0m ag + 6k au oz","#### La Luz\n\n silver project","#### Jalisco\n\n group of properties"]
Leadership
Keith Neumeyer (CEO, Mr. Neumeyer has worked in the investment community since 1984, founding First Majestic Silver in 2002 and First Mining Gold in 2015. He has extensive experience in finance, business development, and corporate restructuring.), Mani Alkhafaji (President & Chief Corporate Development Officer, Mr. Alkhafaji has over 15 years of experience in finance and mergers and acquisitions, overseeing Corporate Development and Sustainability at First Majestic.), Dave Howe (Chief Operating Officer, Mr. Howe brings over 35 years of operational leadership in the mining sector, previously serving as Vice-President, Operations at Pan American Silver.), David Soares CA, CPA (Chief Financial Officer, Mr. Soares has over 15 years of finance and management experience with multinational mining companies, including Xstrata and Barrick.), Samir Patel LL.B (General Counsel & Corporate Secretary, Mr. Patel is experienced in M&A transactions and corporate law, previously serving as General Counsel at First Mining Gold Corp.)

Verified data last updated: 2026-07-10

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