Company Overview

First Majestic Silver Corp. is a publicly traded mining company primarily engaged in the acquisition, exploration, development, and production of mineral resources, with a core focus on silver and silver-related by-products. The company operates within the precious metals mining industry and is best known as a primary silver producer, distinguishing itself from diversified miners by maintaining a high proportion of revenue exposure to silver prices.

The company’s primary revenue drivers are the production and sale of silver, with additional contributions from gold, lead, and zinc produced as by-products. Its key customers are global metals traders, refiners, and industrial users purchasing silver and other metals at prevailing market prices. First Majestic positions itself strategically as a “pure-play” silver producer with vertically integrated operations, emphasizing operational control, cost management, and jurisdictional focus. Founded in 2002, the company grew through a series of acquisitions and organic mine development, consolidating multiple producing assets in Mexico before later expanding into the United States.

Business Operations

First Majestic’s operations are organized around its producing mining assets, which collectively represent its core operating segments. The company generates revenue through the extraction, processing, and sale of metals from its wholly owned mining operations, with silver accounting for the majority of payable metal production. Its business model includes in-house mining, milling, and refining processes, allowing greater control over costs and production quality.

The company’s principal operating assets include San Dimas Silver/Gold Mine, Santa Elena Mine, La Encantada Silver Mine, and Jerritt Canyon Gold Mine. Operations are primarily underground and utilize conventional mining and processing technologies such as flotation and cyanide leaching. First Majestic conducts both domestic and international operations, with Mexico historically serving as the operational core and the United States contributing gold-focused production through its Nevada-based assets.

Strategic Position & Investments

First Majestic’s strategic direction centers on maintaining leverage to silver prices while improving operational efficiency and reserve life at its producing mines. Growth initiatives include exploration drilling near existing operations, mill expansions, and targeted capital investments to enhance throughput and metallurgical recoveries. The company has historically favored acquisitions that add immediate production or advanced-stage development potential.

Major investments include the acquisition of San Dimas Silver/Gold Mine and Jerritt Canyon Gold Mine, which materially expanded the company’s production base and geographic diversification. The company also invests in ongoing exploration programs across its property portfolio to replace reserves and resources. While primarily focused on traditional mining, First Majestic has also explored downstream integration initiatives, including direct silver sales to retail and industrial customers, as part of its broader commercial strategy.

Geographic Footprint

First Majestic operates primarily in Mexico and the United States, with its corporate headquarters located in Vancouver, British Columbia, Canada. Mexico represents the company’s largest operational presence, hosting multiple producing mines and exploration properties across several mining-friendly states.

In the United States, the company’s operational footprint is centered in Nevada, a globally significant mining jurisdiction. While First Majestic does not operate on other continents, its metals are sold into global markets, giving the company international commercial exposure. The company’s geographic strategy emphasizes stable mining jurisdictions with established regulatory frameworks and access to skilled labor and infrastructure.

Leadership & Governance

First Majestic was founded by Keith Neumeyer, who continues to play a central role in shaping the company’s strategic vision. Leadership emphasizes operational discipline, jurisdictional focus, and maintaining strong leverage to precious metals markets. The company is governed by an experienced board and executive team with extensive backgrounds in mining operations, finance, and capital markets.

Key executives include:

• Keith Neumeyer – President & Chief Executive Officer
• David Dykerman – Chief Financial Officer
• Ramon Davila – Vice President, Technical Services
• Eric DeMuth – Vice President, Corporate Development
• Robert Oliva – Vice President, Exploration

The leadership team’s philosophy centers on long-term value creation through responsible mining practices, balance sheet management, and disciplined capital allocation while maintaining a strong focus on silver as a strategic metal.