First Majestic Strums a Silver Guitar
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."