First Majestic Resource Corp.
Natural Resources
FR : TSX
Executive Broadcast

Management of First Majestic Silver Corp. is committed to building a mid tier Silver producing mining company based on an aggressive development and acquisition plan with a focus on Mexico.

First Majestic owns the La Parrilla Silver Mine located outside the city of Durango. Silver production began in October 2004. Production is running at 180 tonnes per day. Mine development and mill improvements are underway to advance production to 400 tonnes per day. First year production of 1 million ounces of Silver is anticipated.

First Majestic recently purchased the Dios Padre Silver Mine which conservatively contains approximately 57 million ounces of 456 gpt silver and appears amenable to open-pit mining. Preliminary work began in January to confirm and expand historic resource data.

The Candamena Mining District was also recently acquired. This 5,215 hectare property hosts several highly mineralized areas. 1997 work including 60 drill holes of over 11,500 meters providing an estimated resource of 1 million ounces gold and 20 million ounces of silver (80 million eqv. oz. silver) amenable to open-pit mining. An evaluation is presently underway to confirm and expand historic resource data.

Management feels strongly that investors will witness a dramatic bull market in precious metals over the coming years. For this reason, several advanced properties are either presently under development or are being investigated for potential acquisition. Management is determined to expand First Majestic's asset base over the coming months.

Stock Information:

Last Trade Time: Sep 08, 2010 16:00 EST TSX: FR   Current 5.200   Open 5.310   Change -0.090     Prev. Close 5.290   % Change -1.70%     Tick Type N/A   Volume 359,745     Shares (last trade) 2100   Day High 5.460     52 Week High 5.29   Day Low 5.090     52 Week Low 2.45   Bid N/A     Ask N/A   Bid Size N/A     Ask Size N/A   # Trades 878     Industry Natural Resources  1 Month | 3 Month | 6 Month | 12 Month | 2 Year | 5 Year