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First Majestic Silver Corp. Message Board

  • pjmjudo@sbcglobal.net pjmjudo May 15, 2013 12:59 PM Flag


    Is it a good thing that Orco deal fell through? First Majestic is cash rich in a depressed market. Can't they get much more for their money?

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    • Orko going to CDE was a Godsend in hindsight. They can definitely get assets for much cheaper now. AG share price will stabilize and recover while many microcap silver juniors will still be in the crater as we move into summer. For instance, AG was going to pay $250M for Orko to get a 8M oz per year mine. Well, currently Aurcana has CURRENT production geared up to go from 6-8M ozs in the next 1-2 years and their shareprice is down over 50% just since a few months ago, and I believe is currently cheaper than what CDE paid for Orko. I know AG wants to stay "pure" with silver and concentrate on Mexico. Aurcana has a mine in Texas, and the Mexican mine is low cost with a good base metal byproduct, so who knows. I say it's the margin and the mine life that counts most.

      This once seemed inconceivable, but Tahoe Resources could probably successfully aquire First Majestic right now, and they would become a low-cost 40M+ oz producer right off the bat. Tahoe's market cap is huge and AG only $1.1B! Tahoe is run by Glamis Gold mgmt, who were very saavy aquirers and mine builders. Glamis was one of the best stocks of the last decade in PMs. They should buy AG right here and pay 50-60% premium, $15-16, done deal.

      Sentiment: Strong Buy

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