FIRST MAJESTIC SILVER CORP - AG STOCK NEWS

First Majestic Silver Corp. (AG) has issued a detailed response to recent misleading Mexican media reports about its ongoing tax dispute with the Mexican government. The company asserts that it is compliant with tax regulations in both Canada and Mexico. Notably, First Majestic filed a NAFTA Request for Arbitration to resolve differences regarding the tax assessments, which total approximately US$260 million. The dispute arose from tax assessments on PEM based on market prices instead of actual revenue, contradicting the previously agreed Advance Pricing Agreement with Mexican tax authorities.

First Majestic Silver Corp. (AG) announced its three operating mines in Mexico have received the 2021 Socially Responsible Business Distinction Award. This award recognizes the company’s commitment to sustainability, corporate ethics, and good governance practices. The San Dimas mine has received the award for the tenth consecutive year, while the Santa Elena mine for the seventh. The La Encantada mine achieved this recognition for the first time. The company aims to produce between 12.5 to 13.9 million silver ounces in 2021, reinforcing its position as a leader in Corporate Social Responsibility.

First Majestic Silver Corp. (AG) has filed for arbitration with the International Centre for Settlement of Investment Disputes (ICSID) against the Government of Mexico, citing breaches of the Advance Pricing Agreement affecting its subsidiary, Primero Empresa Minera S.A. de C.V. (PEM). Despite efforts for negotiation, the government refused engagement. The company is seeking a neutral tribunal to resolve the dispute under NAFTA's provisions. First Majestic operates multiple silver and gold mines in Mexico, targeting production of 12.5 to 13.9 million silver ounces in 2021.

First Majestic Silver Corp. (AG) announced its consolidated financial results for Q4 and the year ended December 31, 2020. The company generated revenues of $363.9 million, boosted by robust silver production and higher metal prices, particularly in the second half of the year. Q4 revenues reached $117.1 million, an increase of 21% from Q4 2019, with a net earnings of $34.5 million (EPS of $0.16). Cash costs per ounce rose to $6.53, while AISC increased to $15.92. End-of-year cash and equivalents were $238.6 million, marking a significant 41% increase from 2019.

First Majestic Silver Corp. reported a total production of 5.2 million silver equivalent ounces in Q3 2020, comprising 3.2 million ounces of silver and 25,771 ounces of gold, reflecting increases of 72% and 63% respectively from the previous quarter. The company aims to fully recover lost production due to COVID-19 by year-end. The balance of cash and cash equivalents stood at $232.4 million. Significant production growth was noted at La Encantada and San Dimas, while exploration efforts are set to expand with a targeted total of 163,000 metres for the year.

First Majestic Silver Corp. (AG) announced the acquisition of 5,146,401 common shares of Silver Dollar Resources Inc., increasing its ownership to approximately 16.4%. This acquisition, valued at CDN$9,160,594, follows an option agreement from August 2020. Future share acquisition opportunities exist, based on market conditions. The press release emphasizes First Majestic's focus on silver production in Mexico, with expected silver output between 11.0 to 11.7 million ounces in 2020.

First Majestic Silver Corp. (AG) has successfully closed a bought deal with Eric Sprott, issuing 5 million common shares at CDN$15.60 each, resulting in gross proceeds of CDN$78 million. The funds will be utilized for developing mining projects, enhancing existing mines, and increasing working capital. The Offering was conducted under a prospectus supplement filed in Canada, with a focus on silver production in Mexico. The company projects a total silver production of 11.0 to 11.7 million ounces for 2020.

First Majestic Silver Corp. (AG) has successfully closed a previously announced bought deal, issuing 5 million common shares at CDN$15.60 each, generating gross proceeds of CDN$78 million. The funds will be utilized for developing mining projects and enhancing existing operations. The offering was conducted under a prospectus supplement and is not registered under U.S. securities laws. First Majestic focuses on silver production in Mexico, with an estimated output of 11.0 to 11.7 million silver ounces expected in 2020.

First Majestic Silver Corp. (NYSE: AG) has announced a bought deal agreement for the sale of 5,000,000 common shares at CDN$15.60 each, totaling gross proceeds of CDN$78 million. The funds will support the development and improvement of existing mines and bolster working capital. The offering is restricted to Canada and is expected to close by September 17, 2020, pending regulatory approvals. The company projects silver production between 11.0 to 11.7 million ounces in 2020 from its operations in Mexico.