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First Majestic Silver Corp. (FR.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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16.46+0.31 (+1.92%)
As of 1:28PM EDT. Market open.
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  • J
    Julian
    @Dirk FYI
    Gatos Silver Extinguishes Its Los Gatos Joint Venture Debt Obligation
    7:00 AM ET, 07/26/2021 - Business Wire
    DENVER--(BUSINESS WIRE)--Jul. 26, 2021-- Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) is pleased to announce its 70%-owned Los Gatos Joint Venture (“LGJV”) has repaid its Term Loan (“Term Loan”) effective July 26, 2021. Gatos Silver’s attributable portion of the Term Loan retirement and related costs was approximately $155.9 million.

    Gatos Silver’s portion of the Term Loan retirement was funded with proceeds from the recently completed public offering, available cash on hand and $13 million borrowed under Gatos Silver’s Revolving Credit Facility. The Term Loan retirement greatly fortifies Gatos Silver’s balance sheet by eliminating significant annual interest, at least $31 million of annual principal payments and removing a requirement for approximately $50 million to be held as cash reserves under the Term Loan.

    Stephen Orr, the Company’s Chief Executive Officer, stated: “The retirement of the LGJV Term Loan is a major milestone in Gatos Silver’s path of creating substantial shareholder value since the Company’s IPO in October 2020. With the Cerro Los Gatos (‘CLG’) mine and processing facility now operating above design capacity, record-breaking production was achieved in the second quarter. CLG is now generating strong cash flows to fund additional performance improvement initiatives and exploration at the Company’s vast and highly prospective property positions in Mexico.”
  • D
    Dirk
    On 4th Jan of this year, real US10Y hit -1.08% and gold hit 1944. Today, US10Y hit -1.12% and gold is 1811.
    Bullish
  • D
    Dirk
    Julian, GATOS is the best performer today. Let's hope we can get back up quick.
  • M
    Money $Duckie$ 🤑
    Just in from the desk @ Zacks : First Majestic Silver Corp. AG engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production. The Zacks Consensus Estimate for its current year earnings has been revised 10.3% downward over the last 30 days.
  • C
    Celty
    Good to see the usual morning beat down on gold and silver continue. Not.
  • D
    Dirk
    Newmont's Q2 earnings nearly double from last year on higher gold prices
  • D
    Dirk
    As the PMS seems to be linked to the DXY recently, we will need the DXY to fall. Currently we are at -0.30% for the DXY, and we are at high DXY levels of 92.62. If the dollar falls, then the PMS will go up. The DXY should be meaningless for the PMS, as all is relative, but it is what it is. The real factor for the PMS should be the real yields, and they continue to fall. We will see.
  • J
    Joe
    I was going to comment on the very strong volume at 10am (est), but decided to wait until my normal daily check time of 10:30am (est). Volume went from very strong to now very weak. Won't even make 3 month avg volume today. just fyi...
  • M
    MT
    what else do I have. Not much. I just am looking into chemical stocks. Everything in the market is over priced except oil and gold stocks. Some healthcare and chemical stock are fairly priced. The rest of the stock market is in a huge bubble.
  • M
    MT
    breaking amazon might accept cryptos. This is huge for cryptos and means they are here to stay. US regulation will be coming and coming much faster than I thought if this rumor is true.
  • D
    Dirk
    John Williams, founder of ShadowStats, discusses with David Lin, anchor for Kitco News, why the U.S. is headed towards hyperinflation.

    Williams, who calculates the inflation rate using methodology the U.S. government used in the 1980s before revisions, estimated that the current rate of inflation is already 13.5 %, much higher than the 5.4% that the Bureau of Labor Statistics reported for June.
    Bullish
  • D
    Dirk
    Multiple EU officials are on the record saying it makes no sense that they invoice the vast majority of their oil and gas imports in USDs. EU need for USDs is reduced pretty meaningfully if EU can invoice oil and gas in EUR not USD.
    Bullish
  • D
    Dirk
    It seems that with inflation rising, continuous supply problems, new supply problems caused by floods in Germany and China, new lockdowns by delta variant, economy slowing down, that the money printing will continue. I don't see how the FOMC will decide on tapering any time soom. Anyway the current inactivity of the pms never seems to end.
  • M
    MT
    was right to buy yesturay.
    Alcoa - look at that. missed it but I knew I was right.
    Dow also did well

    Market is oversold in commodities. Most other assets are overbought.
  • J
    Jim
    @Joe spends a lot of time in this room bashing with no skin in the game. Why is he so scared that First Majestic Silver will be $30 per share or more within 2 months? 💰💰💰
    Bullish
  • J
    Julian
    @Joe You know by now that I’m not a pumper or a basher, I think AG is a good leverage play in silver and I think that silver will do very well from today till the year ends. I hope no one here bought or shorted it using margins! Good luck to all and we’ll see were AG is by years end.!
  • J
    Joe
    @MT....you'll love the irony...not yet ready to call it a generational stock just yet, but I've owned for awhile and bought more last week and this morning - #MT-....just on their investment in form energy...form energy- google that one. Also backs up logic to owning #BHP, #RIO and #VALE.
  • D
    Dirk
    Julian. Sorry for late reaction concerning Glencore. I have looked at it, but I'm not convinced. Getting out of coal, enhancing prod of copper and cobalt. A new ceo. A lof changes in the Board. I'm not convinced, but can be wrong. I think SBSW or BTU PEABODY is more interesting. Grtz.
  • M
    MT
    @joe please list generational buys esp the generational buys that are early. I trust your instincts here. BTW you might be right in the end for NOK and ERIC. NOK sent out positive guidance just recently.

    I believe you on ABNB - up or down I will DCA into this.
    In any case what are your other generational buys that other's don't see yet.
  • J
    Julian
    @Dirk Did you finally bought GLEN?