Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Production / Operations

First Majestic Announces Restart Plan for Jerritt Canyon Gold Mine

First Majestic pivots to growth as Jerritt Canyon restart and record silver production signal a new operational era.

By The Northwire Desk — AI Analysis Apr 02, 2026 · 07:01 AG · 30.77 First Majestic Silver Corp.
Executive Summary

The most recent news (April 2, 2026) details a formal restart plan for the Jerritt Canyon Gold Mine in Nevada. Key components include a $75 million capital program for 2026, targeting first gold production in H2 2027. This follows a significant resource update (March 31, 2026) showing 4.1M oz Measured & Indicated and 3.7M oz Inferred gold at the site. The plan involves owner-operated mining, plant winterization, and a 42,000m drilling program. This announcement fulfills management's promise from the Q4 2025 earnings call to provide a "stand-alone update" on the asset.

Material Impact
  • Operational Growth: The restart adds a fifth producing asset to the portfolio, diversifying jurisdictional risk by expanding into the USA.
  • Resource Validation: The 116% YoY increase in Jerritt Canyon's Inferred resources (announced March 31) provides the geological confidence necessary for the $75M investment.
  • Financial Discipline: The $75M 2026 budget is well-covered by the company’s record cash position ($793.4M as of year-end 2025, growing to $940M including restricted cash per the transcript).
  • Strategic Shift: Moving to owner-operated mining at Jerritt Canyon addresses the historical cost issues that led to its care and maintenance status in 2023.
  • Synergy Realization: Management notes the integration of Gatos Silver is complete, allowing technical teams to focus entirely on the Jerritt Canyon turnaround.
AG · Price
Company Overview

First Majestic is a primary silver producer with a growing gold and base metal profile. - Flagship Project: San Dimas (Mexico) remains a cornerstone, but the newly integrated Los Gatos (70% interest) has become a primary driver of record silver production. - Secondary Assets: Santa Elena (high-grade discoveries at Navidad/Santo Niño) and La Encantada (100% silver). - Development Asset: Jerritt Canyon (Nevada), currently in the restart phase.

Read the original news release →

More from First Majestic Silver Corp.

Nov 05, 2026 · 07:01

First Majestic reported third-quarter profit beats driven by higher prices, while a San Dimas strike increased all-in sustaining costs by 46% and gutted guidance.

Earnings Oct 13, 2026 · 07:01

First Majestic suspends tax arbitration and agrees to a settlement framework, though legal overhang persists until year-end.

Regulatory Oct 08, 2026 · 07:01

First Majestic’s Q3 silver output reached just 72% of year-to-date guidance, while a labour dispute at San Dimas jeopardises its 2026 production targets.

Production / Operations Sep 09, 2026 · 07:02

First Majestic’s Bonanza San Dimas veins extend mine life but do not re-rate the $14B producer.

Drill Results Aug 25, 2026 · 16:31

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

Resource Estimate 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