FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) is pleased to announce the unaudited condensed interim consolidated financial results for the Company for the first quarter ending March 31, 2013
First Majestic Silver Corp. is committed to building a senior Silver producing mining company based on an aggressive acquisition and development plan with a focus on Mexico. The Company presently owns and operates five silver mines in Mexico: the La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine and the Del Toro Silver Mine. Production is anticipated to be between 9.2 million to 9.5 million ounces of silver equivalents or 8.4 to 8.7 million ounces of pure silver in 2012.
Keith Neumeyer, President, CEO & Director
Prior to taking the helm at First Majestic, Keith Neumeyer was the founding President of First Quantum Minerals (T-FM), one of many senior management positions he has held in the investment community over the last 20 years.
Neumeyer is a company builder, having raised over $250 million and achieved listings for two companies on the Toronto Stock Exchange. As a business executive and as a director, he has extensive experience in finance, business development, regulatory matters, accounting, strategic planning and corporate restructuring.
Ramon Davila, ING, Chief Operating Officer and Director
Ramon Davila, a Mexican citizen residing in Durango, has an Engineering degree in Mining and Metallurgy and a Masters degree in Minerals Economics. From 1978 to 1987, he worked for Industrias Penoles, the largest silver producer in Mexico and then became the VP of Mining Operations for Luismin until 1993. Since 1998, Davila has been President of Plata Panamericana SA de CV, a wholly owned subsidiary of Pan American Silver Corporation, where he was in charge of all aspects of production, exploration and administration of Pan American's Mexican operations.
Ramon Davila was also the National President for the Association of Mining Metallurgist and Geologists in Mexico from 1996 to 1998 and is currently a member of the board of Directors of the Chamber of Mines in Mexico. He is also a member of the Society of Mining Metallurgical and Exploration Engineers.
Douglas Penrose, Chairman & Director
Mr. Penrose received his Bachelor of Commerce degree from the University of Toronto. He has been a member of the Institute of Chartered Accountants of Ontario from 1974 to 2008 and the Institute of Chartered Accountants of British Columbia since 1978. Mr. Penrose brings over 20 years of experience in leadership positions in accounting and corporate finance. Mr. Penrose was formerly the Vice President of Finance and Corporate Services for the British Columbia Lottery Corporation.
La Parrilla Silver Mine in Durango, Mexico
La Encantada Silver Mine, Coahuila, Mexico
San Martin Silver Mine, Jalisco State, Mesica
Del Toro Silver Mine, Chalchihuites, Zacatecas
La Luz Silver Project, San Luis Potosi, Mexico
La Guitarra Silver Mine
All operations are located in Mexico, which is a very gracious environment for foreign mining companies. Recent legislation states that foreign companies may now own 100% of Mexican mining assets. First Majestic has received nothing less than exemplary treatment from the Mexican government and has no concerns of any future discord.
First Majestic Resource Corp. trades on the Toronto Stock Exchange under the symbol FR ... also on the Frankfurt Stock Exchange under symbol FMV; wkn A0LHKJ, and on the New York Stock Exchange under the symbol AG.
The company has a total of 116,133,363 shares issued and outstanding, 120,993,683 fully diluted (as at October 31, 2012).