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XMFSinchiruna (26.51)

First Majestic Strums a Silver Guitar



April 05, 2012 – Comments (5) | RELATED TICKERS: AG

Looks like First Majestic is going to move into a core position within my portfolio; which frankly is where it has belonged for quite some time.

I accumulated Silvermex shares aggressively earlier this year between $0.45 and $0.50 per share.

This transaction will place AG among my top-five holdings, and I intend to keep in there.

During the conference call, someone asked about open-pit potential at La Guitarra. First Majestic's CEO Keith Neumeyer impressed me so much with his reply, indicating that the natural beauty of the area renders underground mining the only approach under consideration.

I really like these guys, and enjoyed meeting the senior team in Toronto when I conducted this interview:

From March 21:

"I enjoyed a terrific and lengthy conversation with Duane in Vancouver at the Cambridge House conference in January that really reignited my interest in the stock, and at the PDAC conference in Toronto last week I enjoyed his company yet again. I find it incredible that the market has offered almost no re-rating as yet for the significant improvements that Duane has swiftly brought to this once struggling operation, and like so many of the deep value plays I've invested in I am content to sit back and wait for the market to reflect the true value of the shares."

5 Comments – Post Your Own

#1) On April 05, 2012 at 10:44 AM, ubernut (< 20) wrote:

April 05, 2012
Orko Silver Regains 100% Ownership of La Preciosa

Not sure how to feel about this stock is down 27% but is this news really a bad thing?  I was kind of thinking that Pan American wouId just buy Orko rather then lose its 55% stake by missing the deadline.  I am sure there are others producers who would be interested in Orko's deposit and will be getting the added benifit of all the hard work and money that Pan American Silver's has done.

So big question for Sinch should I be buying adding now or just hanging back. 


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#2) On April 05, 2012 at 11:09 AM, eeibbay (< 20) wrote:

I was a bit surprised by the news about Orko. Sinchi, any insights into why Pan American would pass on this deposit. Seemed like a no brainer to just take out Orko?

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#3) On April 05, 2012 at 11:26 AM, SN3165 (< 20) wrote:

Big news today !

 April 05, 2012
Sandstorm Gold Announces Proposed Share Consolidation
 Vancouver, British Columbia, April 5, 2012 -- Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX-V:SSL) is proposing a consolidation of its issued and outstanding common shares ("the Common Shares") on the basis of one (1) post-consolidation Common Share for up to every five (5) pre-consolidation Common Shares (the "Consolidation"), with the final consolidation ratio to be set by the Company's Board of Directors within the range approved by the shareholders.

Fine with me.


 Brigus Gold Hits Q1 Production Target
Halifax, Nova Scotia; April 5, 2012 (NYSE Amex: BRD; TSX: BRD) – Brigus Gold Corp. (“Brigus” or the “Company”) is pleased to announce that it produced 16,922 ounces of gold at an average grade of 3.04 grams per tonne (gpt) in the first quarter of 2012 – hitting the top end of its guidance.

*This is also good for Sandstorm!


And finally....

Vancouver, April 5, 2012 – Luna Gold Corp. (TSXV-LGC) (LMA-LGC) (OTCQX-LGCUF) (“Luna” or the “Company”) is pleased to announce its gold production update at the Aurizona Gold Mine for the quarter ended March 31, 2012. 

Aurizona Gold Mine produced a quarterly record in Q1 of approximately 16,000 ounces.

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#4) On April 05, 2012 at 12:17 PM, XMFSinchiruna (26.51) wrote:

Ubernut, my sentiments exactly:

"I am sure there are others producers who would be interested in Orko's deposit and will be getting the added benifit of all the hard work and money that Pan American Silver has done."


It took me by surprise as well given the lengths Pan American had gone through to include production from the asset into its production targets, etc. This could mean, though I am merely speculating here, that a positive decision on Navidad is in the works and the company wanted to reserve all development capital for that cornerstone asset.

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#5) On April 06, 2012 at 1:20 PM, eeibbay (< 20) wrote:

Thanks Sinchi

Appreciate the insight. Hmmmm, need to do some more dd.



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