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First Majestic Silver Corp

www: www.firstmajestic.com   email: info@firstmajestic.com
Category: Emerging Major
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Symbol Data

Symbol Currency
NYSE:AG USD
TSE:FR CAD

Description

First Majestic Silver Corp are a silver focused emerging major with four producing mines in Mexico and USA, one mine in development in Mexico and three exploration properties. Currently they produce roughly 22.0Moz. of silver per year. They have approximately 630Moz. of silver in the reserves and resources category of which 350Moz. are in the measured and indicated category. They have a market capitalisation of ~$2389.94M which is a rise of roughly 48% over the last eleven months. As of 07/09/2023 they have ~$192M debt and ~$235M cash. They have 287M shares outstanding and trade on the New York Stock Exchange and the Toronto Stock Exchange.

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General Details

Financial 07/09/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
MCap (FD): $1,615.51M $2,389.94M 11/04/2023 $774.43M
Total Assets: $1,019.00M $1,019.00M 07/09/2023 $0.00M
Total Liabilities: $374.00M $374.00M 07/09/2023 $0.00M
Current Assets: $300.00M $300.00M 07/09/2023 $0.00M
Current Liabilities: $78.00M $78.00M 07/09/2023 $0.00M
Total Debt: $192.00M $192.00M 07/09/2023 $0.00M
Cash: $235.00M $235.00M 07/09/2023 $0.00M
Enterprise Value: $1,572.51M $2,346.94M 05/15/2044 $774.43M
Cash Flow: $27.54M $131.12M never $103.58M
Cash Flow Multiple: 58.66 18.23 never -40.43
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: 07/09/2023 n/a
Misc 07/09/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 274,000,000 287,000,000 11/04/2023 13,000,000
Shares (FD): 289,000,000 301,000,000 11/04/2023 12,000,000
Insider Ownership: n/a n/a 01/14/2018 n/a
Dividend (Annual): n/a 0.36% 05/08/2024 0.36%
Company Type: Mostly Silver Mostly Silver never n/a
Production ETA: n/a n/a 07/09/2023 n/a
Production (Gold Eq Oz.): (guess) 
323,113
(guess) 
288,034
01/16/2024 -35,079
Production (Silver Eq Oz.): (guess) 
27,000,000
(guess) 
22,000,000
01/16/2024 -5,000,000
Initial CapEx (Outstanding): n/a n/a 07/09/2023 n/a
Funding Option: n/a n/a 07/09/2023 n/a
Documentation: none PRODUCER 05/08/2024 n/a
Future MCap Modifier: 0.3
Producer: Elite Quality
0.3
Producer: Elite Quality
04/24/2023 0
Cash Flow Multiplier: 10 12 01/16/2024 2.00

Resource Data

GOLD 07/09/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 07/09/2023 0.00M
Measured & Indicated: n/a n/a 07/09/2023 0.00M
Inferred: n/a n/a 07/09/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 07/09/2023 0.00M
Measured & Indicated: n/a n/a 07/09/2023 0.00M
Inferred: n/a n/a 07/09/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/09/2023 $0.00
Extra Operating Cost: n/a n/a 07/09/2023 $0.00
G
R
A
D
E
Underground (Avg): n/a n/a 07/09/2023 n/a
Open Pit (Avg): n/a n/a 07/09/2023 n/a
Recovery Rate: n/a n/a 07/09/2023 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 07/09/2023 0.00M
Annual Production: n/a n/a 07/09/2023 n/a
Cash Cost: n/a n/a 07/09/2023 n/a
Extra Operating Cost: n/a n/a 07/09/2023 n/a
SILVER 07/09/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 180.00M 180.00M 07/09/2023 0.00M
Measured & Indicated: 350.00M 350.00M 07/09/2023 0.00M
Inferred: 280.00M 280.00M 07/09/2023 0.00M
Reserves & Resources: 630.00M 630.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 162.00M 162.00M 07/09/2023 0.00M
Measured & Indicated: 284.40M 284.40M 07/09/2023 0.00M
Inferred: 126.00M 126.00M 07/09/2023 0.00M
Reserves & Resources: 410.40M 410.40M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
27,000,000oz.
(guess) 
22,000,000oz.
01/16/2024 -5,000,000oz.
Cash Cost: $13.00 $15.00 05/08/2024 $2.00
Extra Operating Cost: $9.00 $11.00 05/08/2024 $2.00
G
R
A
D
E
Underground (Avg): 350.00 g/t 375.00 g/t 03/18/2024 25.00 g/t
Open Pit (Avg): n/a n/a 07/09/2023 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 05/08/2024 0.00%
F
U
T
U
R
E
Proven & Probable: 500.00M 500.00M 07/09/2023 0.00M
Annual Production: 35,000,000oz. 30,000,000oz. 01/16/2024 -5,000,000oz.
Cash Cost: $15.00 $17.00 05/08/2024 $2.00
Extra Operating Cost: $10.00 $11.00 07/20/2023 $1.00

Property

Last Analysis Data  (07/09/2023)
Stage Name Owned Au Ag Cu Notes
Prod La Encantada 100% n/a
Prod San Dimas 100% show
134 million oz at 300 gpt

plus gold production sold at cost.
Prod Santa Elena 100% show
Expansion scheduled for 2014.
Dev Del Toro 100% show
1 of 5 long life producing mines. Number 6 is under development.
Exp San Martin 65% show
Past producing mine
Prod Jerritt Canyon 100% show
75,000 oz a year production.

Plans to increase production.
Total Land Package Size (ha): 30,001  
Current Data
Stage Name Owned Au Ag Cu Notes
Prod La Encantada 100% show
2023

P&P: 13.6M AG OZ
M&I: 31.6M AG OZ
Inf: 19.3M AG OZ

2023E PRODUCTION
3.1M - 3.3M AG OZ
Prod San Dimas 100% show
2023

P&P: 37.8M AG + 460K AU OZ
M&I: 54.5M AG + 681K AU OZ
Inf: 42.0M AG + 489K AU OZ

2023E Production
12.9M - 13.7M AgEq OZ
(6.4M - 6.8M AG OZ + 78K - 83K AU OZ)
Prod Santa Elena 100% show
2023

P&P: 10.1M AG + 320K AU OZ
M&I: 15.6M AG + 467K AU OZ
Inf: 12.4M AG + 313K AU OZ

2023E PRODUCTION
8.5M - 9.1M AgEq OZ
(0.9M - 1.0M AG OZ + 91K - 97K AU OZ)
Dev Del Toro 100% show
1 of 5 long life producing mines. Number 6 is under development.

2023 -

M&I: 7.6M AgEq OZ
Inf: 11.2M AgEq OZ

January 2020 temporarily suspended (improve operations)
Exp Jalisco 100% n/a
Exp La Luz 100% n/a
Exp San Martin 65% show
Past producing mine


2023

M&I: 9.0M AG + 17K AU OZ
Inf: 18.4M AG + 29K AU OZ

July 2019 temporarily suspended (security & safety issues)
Prod Jerritt Canyon 100% show
75,000 oz a year production.

Plans to increase production to 3000 tpd at 5.5 gpt = 175K oz


2023 -

M&I: 1,691K AU OZ
INF: 1,542K AU OZ

March 2023 temporarily suspended
Total Land Package Size (ha): 40,220  

Profitability (by resource)

Proven &
Probable
07/09/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.20M
Total (Silver Eq. Oz.): 180.00M 180.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.18M
Silver Eq. Oz.: 162.00M 162.00M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $165.24M $965.52M n/a $800.28M
Total Maximum Profit: $165.24M $965.52M n/a $800.28M
Max Profit / Current MCap: 0.102 0.404 n/a 0.302
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $0.57 $3.21 n/a $2.64
Total Max Profit Per Share: $0.57 $3.21 n/a $2.64
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $833.31 $1,126.81 n/a $293.51
FD MCap / Silver Eq.: $9.97 $14.75 n/a $4.78
FD MCap / Per Metal
as % Spot Price:
43.32% 46.16% n/a 2.84%
Measured &
Indicated
07/09/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.39M
Total (Silver Eq. Oz.): 350.00M 350.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.32M
Silver Eq. Oz.: 284.40M 284.40M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $290.09M $1,695.02M n/a $1,404.94M
Total Maximum Profit: $290.09M $1,695.02M n/a $1,404.94M
Max Profit / Current MCap: 0.180 0.709 n/a 0.530
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $1.00 $5.63 n/a $4.63
Total Max Profit Per Share: $1.00 $5.63 n/a $4.63
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $474.67 $641.85 n/a $167.19
FD MCap / Silver Eq.: $5.68 $8.40 n/a $2.72
FD MCap / Per Metal
as % Spot Price:
24.68% 26.29% n/a 1.62%

Reserves &
Resources
07/09/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.71M
Total (Silver Eq. Oz.): 630.00M 630.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.46M
Silver Eq. Oz.: 410.40M 410.40M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $418.61M $2,445.98M n/a $2,027.38M
Total Maximum Profit: $418.61M $2,445.98M n/a $2,027.38M
Max Profit / Current MCap: 0.259 1.023 n/a 0.764
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $1.45 $8.13 n/a $6.68
Total Max Profit Per Share: $1.45 $8.13 n/a $6.68
Total Free Profit Per Share: $0.00 $0.19 n/a $0.19
FD MCap / Gold Eq.: $328.94 $444.79 n/a $115.86
FD MCap / Silver Eq.: $3.94 $5.82 n/a $1.89
FD MCap / Per Metal
as % Spot Price:
17.10% 18.22% n/a 1.12%

Future Valuation (Cash Flow & Totals)

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