First Majestic Completes Acquisition of Jerritt Canyon Mine, Nevada
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First Majestic Silver and Sprott Mining have completed the acquisition of Jerritt Canyon Mine from Sprott Mining and concurrent $30 million private placement investment in First Majestic by Eric Sprott.
“With this closing, First Majestic adds another cornerstone asset to the portfolio and enhances our operating platform in a world-class mining jurisdiction. We look forward to commencing our work with the operating team at Jerritt Canyon to create value for our shareholders and welcome Eric Sprott as a continued significant shareholder in First Majestic going forward,” said Keith Neumeyer, president and CEO of First Majestic.
“In the near future, we will be communicating our plan for Jerritt Canyon, which will include ways to further improve productivity and reduce operating costs,” added Neumeyer.
About First Majestic Silver
First Majestic is a publicly traded mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine. Production from these mines are projected to be between 12.5 to 13.9 million silver ounces or 20.6 to 22.9 million silver equivalent ounces in 2021.
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