First Majestic Silver’s (TSX: AG; NYSE: AG) new mint in Las Vegas began production last month, completing the company’s vertical integration, vice-president for corporate development Mani Alkhafaji said in an interview.
As the mint ramps up production towards its first profits, the mine-to-money strategy looks set to boost margins by lowering costs. Alkhafaji also suggests silver prices could climb much more.
“As the supply-demand deficit widens, First Majestic stands ready to seize the opportunity,” Alkhafaji said in September during the Gold Forum Americas in Colorado. “We believe it’s only a matter of time before the price reflects this scarcity—potentially reaching US$100 per ounce.”
Meanwhile, First Majestic announced last month the US$970-million acquisition of Gatos Silver (TSX: GATO; NYSE: GATO) to strengthen its production portfolio, adding another Mexico asset for potential synergies with its other local assets.
Watch the interview below with The Northern Miner’s western editor, Henry Lazenby.
Joint venture videos are paid-for content in arrangement with The Northern Miner Group.
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