First Majestic currently little glossy by borsengelaber

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hive-167922 · @borsengelaber · Mar 21 '23

$0.79

First Majestic currently little glossy

![](https://images.ecency.com/DQmZra5BfiEZjtxypwr1tjUcvUSRGZ2bQtA2Jkmkj5H6N9n/img_1946.jpg)

**Jerritt Canyon is not profitable enough**

Mining Company First Majestic Silver [announced](https://www.firstmajestic.com/investors/news-releases/first-majestic-temporarily-suspends-mining-activities-at-jerritt-canyon-20230320) yesterday that they close down their Jerritt Canyon Mine, at least for some time, which makes one fifth of their turnover. It is just not profitable. A disaster! They just [aquired the mine](https://www.globenewswire.com/en/news-release/2021/03/12/2192019/0/en/First-Majestic-Announces-Acquisition-of-Jerritt-Canyon-Mine-in-Nevada-USA.html) in Nevada two years ago and worked on it’s efficiency but obviously without much success. They now want to check if a profitable mining there is doable. Might well be they won’t reopen it. 

**Has CEO Keith Neumeyer lost his touch?**

The CEO of First Majestic is one of the most known business leaders within the mining industry and quite respected by many **BUT** he seems to have lost his touch. The Jerritt-Canyon-Deal with Eric Sprott 2021 was obviously a very poor decision and stock performance is mediocre at best. The stock is down -50% the last two years.

I am not sure when and how the company will recover but the precious metal prices currently are made for a possible comeback story. Let’s wait and see…

![](https://images.ecency.com/DQmPoicPPFUFDsmEeHjrUdd8WRBaJFgYjHY773kLERdGKhb/img_1947.png)

👍 starthilfe, vikisecrets, zuerich, adacardano, thehockeyfan-at, toofasteddie, dragon-ti, sbi6, danielhuhservice, simsarentals, eddwood, kryptodenno, geneandashlee, cleanyourcity, felix.herrmann, der-prophet, octavian1, vasupi-rent, vasupi, isnochys, skiptvads, borniet, dividendencheck, djbravo, an-sich-wachsen, wilbur-walsh, matt-kirby, rich.art.deluxe, tingtong, augustimo, vbnm21, shinpurple, thedailysneak, sbi-tokens, sneakyninja, clau-de-sign, riyuuhi, cryptoknight12, mastergerund, e-sport-gamer, alucian

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@djbravo · Mar 21 '23

$0.04

As such, we are seeing this cart drop in price quite a bit. If it doesn't come down from here, it's the right time to wait to put money into it and make a profit from us.

👍 borsengelaber

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@borsengelaber · Mar 21 '23

I am not buying any FM stocks currently. Just lacking trust on how they will make a turnaround. 😕

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@herculeand · Mar 21 '23

$0.04

Hmmm. How will they recover from such downfall. Well, time will tell.

👍 borsengelaber

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@borsengelaber · Mar 21 '23

🤷🏼‍♂️ At the moment I don’t know either, David. But often the hardest times for a company where good investment points. In this case I do not stack up. Just lacking the trust and there is better opportunities out there.

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@herculeand · Mar 22 '23

$0.05

Sure, much better opportunities out there.

👍 borsengelaber

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