CAPITAL MARKETS

Sprott invests C$78M in First Majestic Silver

Largest silver investment to date

This article is 4 years old. Images might not display.

This investment will result in Sprott holding about 2.3% of First Majestic, which produces silver from operations in Mexico.

"As a fellow silver bull, Eric has been recognized as one of the most influential leaders within the silver investment community and this deal represents his largest treasury investment in a silver producer, let alone the entire silver space," said president and CEO Keith Neumeyer

"We believe there has been a lack of appreciation for First Majestic's equity in 2020 and we are happy to align ourselves with Keith who recognizes the mispricing of silver in the marketplace and has been a stalwart for silver," said Sprott.

Other large silver investments by Sprott include $60 million in MAG Silver and $27 million in SilverCrest Metals in April.

Sprott has also invested in several silver juniors Discovery Metals, Outcrop Gold, AbraPlata Resource, Vizsla Resources, Kootenay Silver, Dolly Varden Silver, Silver One Resources and Aftermath Silver, among others.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.