First Majestic Silver Corp.: Record Mineral Resource Levels and Robust Year-Over-Year Mineral Reserves Growth
First Majestic Silver Corp. (AG), a leading silver producer with mining operations in Mexico and the United States, recently announced its 2024 Mineral Reserve and Mineral Resource estimates. The effective date for these estimates is December 31, 2024.
Mine Sites and First Majestic’s Interest
First Majestic’s portfolio includes four operating mines in Mexico: Cerro Los Gatos Silver Mine, Santa Elena Silver/Gold Mine, San Dimas Silver/Gold Mine, and La Encantada Silver Mine. Following the acquisition of Gatos Silver, Inc., the Company holds a 70% interest in the Los Gatos Joint Venture that manages the Cerro Los Gatos Mine.
Mineral Reserves and Resources Estimates
The latest Mineral Reserve and Mineral Resource estimates show significant growth compared to the previous year. The Company’s total measured and indicated silver Mineral Resources increased by 18% to 104.6 million ounces, and total measured and indicated gold Mineral Resources grew by 23% to 1.2 million ounces. The mineral reserves increased by 19% to 45.9 million ounces of silver and 0.6 million ounces of gold.
Impact on First Majestic and Shareholders
These strong mineral reserve and resource growth numbers suggest that First Majestic is on track to maintain its position as a major silver producer. This growth could lead to increased revenue, higher profits, and potentially, a stronger stock price for shareholders.
Global Implications
The mining industry, particularly the silver sector, could experience significant positive impacts from First Majestic’s growth. This includes increased competition, potential price pressure on silver, and potential investments in exploration and development.
Conclusion
First Majestic Silver Corp.’s latest Mineral Reserve and Mineral Resource estimates showcase impressive growth, with increases in both silver and gold resources and reserves. This growth is expected to have a positive impact on the Company and its shareholders, while potentially influencing the broader mining industry.
- First Majestic Silver Corp. reports substantial growth in mineral reserves and resources for its five mines.
- Mineral Resources for silver increased by 18%, totaling 104.6 million ounces.
- Mineral Resources for gold increased by 23%, totaling 1.2 million ounces.
- Mineral reserves for silver grew by 19%, totaling 45.9 million ounces.
- Mineral reserves for gold grew by 4%, totaling 0.6 million ounces.
- This growth is expected to positively impact First Majestic and its shareholders.
- The mining industry, particularly the silver sector, could be influenced by this growth.
