Northwire Canada EditionTuesday, August 25, 2026
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GOLD 4717.90 +0.4% SILVER 68.81 +0.3% COPPER 6.71 +1.6% OIL 81.07 −4.6% PALLADIUM 1336.25 −2.0% AG 29.35 +1.6% CTV 0.140 +16.7% OTMC 0.600 +34.8% OPW 0.130 +4.0% HI 0.165 +10.0% VCU 1.33 +1.5% DLTA 0.175 −5.4% EMO 0.400 −1.2% GR 0.070 +0.0% MGG 0.400 +2.6% EVI 0.520 −5.5% AVL 9.43 +17.7% VCG 1.50 +9.5% TTS 2.26 −13.1% SCMI 1.90 +2.7% RIO 3.63 +6.5% GOLD 4717.90 +0.4% SILVER 68.81 +0.3% COPPER 6.71 +1.6% OIL 81.07 −4.6% PALLADIUM 1336.25 −2.0% AG 29.35 +1.6% CTV 0.140 +16.7% OTMC 0.600 +34.8% OPW 0.130 +4.0% HI 0.165 +10.0% VCU 1.33 +1.5% DLTA 0.175 −5.4% EMO 0.400 −1.2% GR 0.070 +0.0% MGG 0.400 +2.6% EVI 0.520 −5.5% AVL 9.43 +17.7% VCG 1.50 +9.5% TTS 2.26 −13.1% SCMI 1.90 +2.7% RIO 3.63 +6.5%
Resource Estimate Neutral

First Majestic Files NI 43-101 Technical Report for the Los Gatos Silver Mine

First Majestic’s Los Gatos NI 43-101 filing confirms no reserve changes, with execution remaining the primary focus for the project.

By The Northwire Desk — AI Analysis Aug 25, 2026 · 16:31 AG · 29.35 First Majestic Silver Corp.
Executive Summary

First Majestic Silver Corp. filed a NI 43-101 Technical Report for the Los Gatos Silver Mine, updating Mineral Resource and Mineral Reserve estimates effective December 31, 2025. The release explicitly states the report does not disclose any material change to the estimates previously disclosed on March 31, 2026, or in the Annual Information Form for the year ended December 31, 2025. Estimates are reported on both a 100% Los Gatos Joint Venture (LGJV) basis and a 70% First Majestic attributable basis. Qualified Persons include Gonzalo Mercado, David Rowe, Andrew Pocock, Hector Mezquita, and María Elena Vázquez Jaimes. No new operational, financial, or strategic data is introduced; this is a standard regulatory compliance filing.

Material Impact

The filing is administrative and confirms the status quo, leaving the investment thesis, mine life, and production profile unchanged. The market’s reaction to prior earnings on July 30 and production updates has already priced in operational execution. The stock has recovered approximately 37% from its July low, reflecting confidence in the H2 production profile and sustained metal prices rather than this filing.

AG · Price
Company Overview

First Majestic Silver Corp. operates four producing underground silver and gold mines in Mexico: Los Gatos, which is a 70% joint venture, alongside San Dimas, Santa Elena, and La Encantada. The company is also restarting the Jerritt Canyon Gold Mine in Nevada, targeting production in the second half of 2027. Additionally, it operates the First Mint facility in Nevada for retail precious metals. Its jurisdictions are primarily located in Mexico, specifically in the states of Chihuahua, Sonora, Durango, and Coahuila, as well as Nevada, USA. The company’s land package exceeds 350,000 hectares.

Read the original news release →

More from First Majestic Silver Corp.

Jul 30, 2026 · 07:01

First Majestic’s treasury swells to $1.25 billion on strong silver and gold price realizations despite sequential margin compression.

Earnings Jul 08, 2026 · 16:31

First Majestic raised its silver guidance by 10% following a first-half production beat, despite a 4% increase in all-in sustaining costs driven by Jerritt Canyon capital expenditures.

Production / Operations Jul 07, 2026 · 16:37

First Majestic sells the San Martin project for $90 million to streamline its portfolio and focus on core operations.

M&A / Property Jun 25, 2026 · 16:16

First Majestic’s Santa Elena portal permits advance mine life extension despite cost creep and price pullback tempering near-term upside.

Drill Results Jun 22, 2026 · 07:01

First Majestic monetizes Del Toro for up to $60m to streamline its portfolio ahead of the Jerritt Canyon restart and Santa Elena expansion.

Financings May 14, 2026 · 05:30

Year Six of the Silver Deficit Meets a Newly Funded Critical-Metals Drill Program in British Columbia

Financings