First Majestic Silver cuts capital spending as silver price freefalls

Mexico-focused miner First Majestic Silver has cut its capital budget by 18% as a result of the drop in the silver price, adding it could revise its capital budget again later this year should the price continue to slide. On Wednesday, spot...

First Majestic production rises 36% y-o-y

Canadian miner First Majestic Silver says total production at its five operating mines in Mexico for the first quarter ending March 31, had reached 2.73-million silver-equivalent ounces, representing a 36% increase when compared with the same...

First Majestic Silver mill reaches commercial production

Mexico-focused silver producer First Majestic Silver on Tuesday said the company's new 1 000 t/d flotation circuit at its Del Toro silver mine, in Zacatecas, Mexico, had reached Phase 1 commercial production at the start of the month. The company...

First Majestic Silver reports first production at Del Toro

Toronto- and New York-listed First Majestic Silver on Friday reported that production had started at its Mexico-based Del Toro silver operation, which was inaugurated earlier in the week. Underground development within the San Juan,...

Toro downgrades cost expectations at Wiluna

Uranium developer Toro Energy has revised the capital cost for its proposed Wiluna project, in Western Australia, following an upgrade in resources and the refinement of costs. The ASX-listed Toro told shareholders on Wednesday that capital costs...

First Majestic Silver lifts silver output

Canadian silver miner First Majestic Silver on Wednesday said it had for the first time produced more than two-million ounces in a quarter, when it announced third-quarter production of total of 2.44-million silver-equivalent ounces, representing...

Prefeas gives First Majestic's Del Toro a $147m NPV

First Majestic Silver, in the process of buying peer Silvermex Resources for C$175.4-million, on Tuesday said the measured and indicated resources at its Del Toro mine in Mexico grew 186% to 74.5-million silver equivalent ounces. According to the...

Q1 profit up 10% for First Majestic on production, prices

First Majestic Silver, which agreed to buy Canadian peer Silvermex Resources for C$175.4-million last month, on Thursday posted a 10% profit rise for the first quarter to $26.4-million on Thursday, aided by higher production and prices. Per-share...

Delay in new uranium supplies to benefit Toro – chair

The global delay in new uranium supplies would create significant opportunities for uranium hopeful Toro Energy, chairperson Erica Smyth stated in the company’s annual report released on Friday. The earthquake and tsunami in Japan in March,...

First Majestic could start dividend from Q1 2012 – CEO

Vancouver-based First Majestic Silver could start paying a dividend from next year, CEO Keith Neumeyer said on Monday. “We have discussed it quite a bit,” he said in response to a question on a conference call.

Toro Energy earmarks $4,5m for uranium exploration

ASX-listed Toro Energy would spend A$4,5-million in 2010, to expand its uranium exploration drive in Western Australia and the Northern Territory. The explorer said in a statement on Thursday that this was its largest single exploration...