Sunday, August 24, 2025

Latest

First Majestic Silver To Raise US$100 Million Via At The Market Financing

First Majestic Silver Corp (TSX: FR) has evidently chosen one of the worst possible times in the market to attempt to raise funds. The firm this morning announced that it will be conducting an at the market equity program, following the release of its second quarter production results.

The financing will see the company raise up to US$100.0 million via the sale of common shares on the New York Stock Exchange. No shares under the program are to be sold on the Toronto Stock Exchange or any other exchange in Canada. The financing is to be facilitated by BMO Capital Markets and TD Securities.

The at-the-market financing follows a share repurchase program enacted by the company in March, which proposed to repurchase up to 10.0 million common shares of the company under a normal course issuer bid.

Earlier this morning, the company announced that it produced 7.7 million silver equivalent ounces in the second quarter, an improvement of 20% over the year ago period. Guidance was also modified slightly, with total production estimated to come in at 32.5 to 34.6 million silver equivalent ounces, versus prior guidance of 32.2 to 35.8 million silver equivalent ounces.

AISC guidance meanwhile rose from $16.79 to $18.06 per silver equivalent ounce to that of $17.68 to $18.42 per ounce – putting the company dangerously close to simply being break even with current silver prices. The company is said to be assuming a silver price of $20.50 for the second half of the year, despite the metal currently at $18.65 on spot markets.

Capital budgets were also revised, with capital investments reduced by 4% to $199.5 million. Exploration drilling is taking a hit as well, with planned metres being cut by 25% to 240,450 metres in 2022.

First Majestic Silver last traded at $8.88 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

First Majestic Q2 Earnings: Another Record Quarter

Sandstorm Gold Fades Into Royal Gold Merger

Equinox Gold Q2 Earnings: Back On Track

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Another major discovery has been made at the Santa Elena mine complex in Sonoro, Mexico,...
Wednesday, May 28, 2025, 12:26:22 PM

First Majestic Silver Q4 Earnings: Record Free Cash Flow

The current precious metals price environment is having a massive impact on the earnings of...
Saturday, March 1, 2025, 03:47:00 PM

First Majestic Posts Record Silver Production In First Quarter Of 2025

First Majestic Silver (TSX: AG) (NYSE: AG) this morning reported record silver production for the...
Wednesday, April 9, 2025, 04:20:00 PM

First Majestic: BMO Cuts Target To $9.50

Last week First Majestic Silver Corp (TSX: FR) announced its second quarter production results. The...

Thursday, July 28, 2022, 04:46:00 PM

First Majestic Suspends Mining At Jerritt Canyon Gold Mine

First Majestic Silver (TSX: FR) appears to be all but abandoning its Jerritt Canyon Gold...

Monday, March 20, 2023, 04:56:15 PM