Summary of First Majestic Silver Corp. Conference Call Company Overview - **Company**: First Majestic Silver Corp. (NYSE:AG) - **Market Cap**: Approximately $3 billion - **Production**: Aiming to become the largest silver producer globally, currently producing about 800 million ounces of silver annually, with a decline noted since 2016 [1][8] Industry Insights - **Silver Production Decline**: Global silver production has been declining, with a current mining ratio of 7 ounces of silver for every ounce of gold mined, despite a consumption rate of 1 billion ounces of silver per year [1] - **Strategic Metal**: Silver is deemed a strategic metal due to its increasing demand in electronics, electric vehicles, and solar panels [2][3] - **Electric Vehicle Demand**: The electric car industry consumes nearly 100 million ounces of silver annually, with a significant increase expected as governments aim to phase out combustion engines by 2030-2040 [3] - **Solar Panel Consumption**: The solar panel industry also consumes around 100 million ounces of silver each year, contributing to the diminishing above-ground supplies [4] Company Operations - **Mine Portfolio**: First Majestic operates four mines, with three in Mexico and one in Nevada. The recent acquisition of Jerritt Canyon has diversified their portfolio [6][8] - **Production Goals**: The company expects record production in 2021, with further growth anticipated in 2022 due to ongoing investments [8] - **Jerritt Canyon Acquisition**: The acquisition is expected to double gold production from 110,000 ounces to 200,000 ounces by 2024, enhancing operational flexibility [10][11] Financial and Operational Highlights - **Exploration and Development**: The company has 26 rigs in operation, focusing on exploration to maintain and grow production levels [10] - **Cost Management**: The company aims to reduce capital expenditures in 2022 while maintaining production levels, with a focus on improving operational efficiencies [9][12] - **Santa Elena Mine**: Significant improvements have been made, with recovery rates increasing from 65% to 94-96% since acquisition [17][18] Environmental Initiatives - **Energy Transition**: The company has transitioned its last mine from diesel to LNG and is exploring hydrogen technology to further reduce its carbon footprint [21] Conclusion - **Future Outlook**: First Majestic Silver Corp. is positioned for growth with strategic acquisitions, a focus on exploration, and a commitment to sustainability, while navigating the challenges of declining silver production and increasing demand in key industries [4][21]

First Majestic Silver Corp. (NYSE:AG) Acquisition of Jerritt Canyon Conference Call and Webcast March 15, 2021 11:00 AM ET Company Participants Keith Neumeyer - President & Chief Executive Officer Connie Lillico - Corporate Secretary Steve Holmes - Chief Operating Officer Todd Anthony - Vice President, Corporate Development Conference Call Participants Heiko Ihle - H.C. Wainwright Craig Hutchison - TD Securities Ryan Thompson - BMO Operator Thank you for standing by. This is the conference operator. Welcome ...