Northwire Canada EditionTuesday, July 14, 2026
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WDO 26.04 −0.9% FVI 11.84 −1.6% OM 1.75 −1.7% ETG 2.99 +0.0% ARTG 31.47 −4.6% LUC 0.163 +1.6% AFM 1.38 +0.0% IMG 20.95 −3.5% CPAU 0.150 +3.5% MMX 0.075 +7.1% IE 12.47 −2.4% SASK 1.09 −1.8% MOG 0.390 +2.6% XIM 0.070 −6.7% S 0.110 −29.0% OMI 0.300 −4.8% WDO 26.04 −0.9% FVI 11.84 −1.6% OM 1.75 −1.7% ETG 2.99 +0.0% ARTG 31.47 −4.6% LUC 0.163 +1.6% AFM 1.38 +0.0% IMG 20.95 −3.5% CPAU 0.150 +3.5% MMX 0.075 +7.1% IE 12.47 −2.4% SASK 1.09 −1.8% MOG 0.390 +2.6% XIM 0.070 −6.7% S 0.110 −29.0% OMI 0.300 −4.8%
Production / Operations Material +

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.

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 May 12, 2026 · 07:01

First Majestic’s cash hoard swells past $1.1B as record earnings pile up, but sliding output and rising costs hint that the silver windfall may be masking operational fatigue.

Earnings