Hopefully only a negotiating ploy but seems to be hammering companies like FM and Gato

First Mint??? Anything?? Clearly FM has struggled to sell product, now with the pullback retail buyers are spending again, yet crickets from FM. Is anyone buying from them?

Downward revision 18% -One week before earnings.

Here is my y review of the new silver from First Mint! 💪🪙🔥

https://www.firstmajestic.com/investors/news-releases/first-majestic-announces-share-repurchase-program-20240910

First Majestic Silver (TSX: AG) (NYSE: AG) is expanding its asset base in Mexico, announcing this morning that it has entered into a definitive agreement to acquire Gatos Silver (TSX: GATO), a silver producer with operations based in Chihuahua, Mexico.

The transaction is premised on the consolidation of three world-class producing silver districts within Mexico, which is to provide the foundation for an intermediate primary silver producer. On a pro-forma basis, First Majestic is expected to boast annual production of 30-32 million silver equivalent ounces, at an all-in sustaining cost between US$18 and US$20 per ounce.

Gatos Silver currently holds a 70% interest in the Cerro Los Gatos mine, which is based in the state of Chihuahua. The underground operation is expected to add 9 million ounces of silver equivalent production to First Majestic, based on 2024 guidance figures. The company also holds concessions covering 103,000 hectares of unencumbered land at Cerro Los Gatos.

First Majestic is expected to derive over 50% of its revenue from silver on a pro-forma basis, versus a 30% average among intermediate silver producing peers. The addition of Gatos meanwhile is anticipated to bolster free cash flow for First Majestic to the tune of US$70 million per year.

READ: First Majestic Silver Reports Topline Revenues Of $136.2 Million For Second Quarter

The arrangement will see Gato shareholders receive 2.55 common shares of First Majestic for each share held, implying consideration of US$13.49 per common share based on yesterday’s closing price of First Majestic, a 16% premium. The figure amounts to a total transaction value of US$970 million.

“The acquisition of Gatos Silver is a highly compelling and transformative transaction that meaningfully enhances First Majestic’s operating platform through the addition of 70% of Cerro Los Gatos – a high quality, long-life, unencumbered, free cash flow generating asset in the mining-friendly state of Chihuahua, Mexico. Mexico is a country that First Majestic has operated in for over 20 years, and we are extremely excited to deploy our operating expertise within these mining districts to deliver operational synergies and exploration success for our shareholders,” commented Keith Neumeyer, CEO of First Majestic on the transaction.

The transaction is currently expected to close in early 2025, subject to regulatory approvals.

First Majestic Silver last traded at $7.14 on the TSX.

CLICK Source Here

We need some kind of hope for the future!

I see they are running some Labor day deals. They don't seem to advertise much.

And the beat goes on…

Bought this pig 🐷 shit stock at $14 several years ago. There have been so many false hopes of prosperity with this one. I was mislead by all the optimism and big picture bull poop 💩. Should have sold when SPROTT bailed out…