# 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.

## 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.

## Key facts

- **Cash position:** $110.1 million
- **Shares outstanding:** 493724650
- **Fully diluted shares:** 183,650,405
- **Warrants:** 0
- **Options:** 5192364
- **Mineral resource:** With an effective date of December 31, 2025, Measured and Indicated Mineral Resources are estimated to total 4.1 million ounces of gold, with an additional 3.7 million ounces of gold classified as Inferred Mineral Resources. The 2025 year-end Mineral Resource Estimates, released on March 31, 2026, with an effective date of December 31, 2025, highlight Jerritt Canyon’s strong sensitivity to bulk-tonnage, low-cost open-pit mining opportunities.
- **Projects:** ["The Jerritt Canyon Gold mine is located in Elko County, Nevada, United States. Jerritt Canyon was discovered in 1972 and since the commencement of mining in 1981 to March 2023, approximately 9.85 million ounces of gold were produced at an average grade of 6.6 g/t Au. Open pit mining at Jerritt Canyon produced a total of approximately 5.2 million ounces of gold at an average grade of 5.9 g/t Au while underground mining produced a total of approximately 4.65 million ounces Au at an average grade of 7.7 g/t Au. Since 2010, most of the production has come from the SSX and Smith gold deposits. The mine was purchased by First Majestic in April 2021 and operated as an underground mine until it was temporarily placed in care and maintenance in March 2023, during a period when gold prices ranged between $1,600 and $1,900 per ounce, due to ongoing challenges including high contractor costs and multiple extreme weather events affecting northern Nevada during the winter of 2022/23. During the care and maintenance period, First Majestic has ensured all environmental, permitting and compliance requirements have been maintained and remain in good standing for a potential restart. Jerritt Canyon is a 100%‑owned property of First Majestic and hosts one of only three permitted gold processing facilities in Nevada that utilize roasting as part of the ore treatment process. The processing plant has a nominal capacity of approximately 4,000 metric tonnes per day and is supported by a large, contiguous land package totaling 30,821 hectares (119 square miles), of which approximately 85% remains underexplored. The Jerritt Canyon property hosts a substantial gold mineral endowment. In April 2026, the Company announced Jerritt Canyon’s restart plan as a result of the new expanded Mineral Resource base combined with strengthened long-term gold price assumptions and successful drilling results over the past 2 years. First Majestic will invest $75 million during 2026 to strategically position Jerritt Canyon for a restart of gold production in the second half of 2027. This program is designed to advance the technical and operational workstreams required to complete a restart plan and provide investors with visibility on the asset’s long‑term economics. As part of this plan, the Company has engaged Stantec Consulting Services Inc. to complete a pre-feasibility level study on Jerritt Canyon that is expected to be completed in Q4 of 2026. In Q2 2026, the Company will commence work to open and rehabilitate the Smith and SSX underground mines, while advancing targeted exploration activities. The program includes approximately 600 metres of underground expansionary development and 19,000 m of underground drilling at Smith–SSX, along with an additional 23,000 m of surface drilling focused on defining near‑surface open‑pit mineral resources, for a total of 42,000 m of drilling in 2026."]
- **Leadership:** Keith Neumeyer (Chief Executive Officer, 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: 2026-06-05_

## Recent filings

- 2026-05-12 — press_release — [AG_2026-05-12_06-50-34.pdf](https://chat.orbiton.app/ag/preview/50050?documentId=50050)
- 2026-05-12 — financials — [AG_2026-05-12_06-05-39.pdf](https://chat.orbiton.app/ag/preview/50045?documentId=50045)
- 2026-05-12 — financials — [AG_2026-05-12_06-05-08.pdf](https://chat.orbiton.app/ag/preview/50046?documentId=50046)
- 2026-05-12 — mda — [AG_2026-05-12_06-03-35.pdf](https://chat.orbiton.app/ag/preview/50044?documentId=50044)
- 2026-05-12 — financials — [AG_2026-05-12_06-01-31.pdf](https://chat.orbiton.app/ag/preview/50042?documentId=50042)
- 2026-04-29 — press_release — [First Majestic Announces 2025 Sustainability Report and Mailing of 2026 AGM Meeting Materials](https://chat.orbiton.app/ag/preview/35458?documentId=35458)
- 2026-04-29 — annual_report — [AG_2026-04-29_14-02-22.pdf](https://chat.orbiton.app/ag/preview/35428?documentId=35428)
- 2026-04-29 — proxy — [AG_2026-04-29_14-02-21.pdf](https://chat.orbiton.app/ag/preview/35431?documentId=35431)

## Investor FAQ

### [Latest News?](https://chat.orbiton.app/ag/faq/latest-news)

On April 2, 2026, First Majestic announced a restart plan for the Jerritt Canyon Gold Mine, which is expected to position the mine for a restart of gold production in the second half of 2027. The company plans to invest $75 million during 2026 to advance the technical and operational workstreams required for the restart.

### [Growth?](https://chat.orbiton.app/ag/faq/growth)

First Majestic aims to grow its operations by focusing on the Jerritt Canyon Gold project, which has a substantial gold mineral endowment and a strong sensitivity to low-cost open-pit mining opportunities. The company is also advancing exploration activities and plans to complete a pre-feasibility level study on Jerritt Canyon by Q4 of 2026.

## Live AI chat

- https://chat.orbiton.app/ag/chat
- Investor website: https://www.firstmajestic.com/