News Article | May 10, 2017
The Paints & Coating industry has come a long way from the basic layer for corrosion protector to service many functional parameters. These parameters vary from lubrication to conductivity and from optical exposure control to thermal detection systems. The industry is continuously evolving, creating its demand in many new application areas. Government bodies have also been evolving in parallel, changing regulatory frameworks with an objective of reducing negative impact of development on society. Two trends, which have impacted this industry the most are reducing volatile organic compounds (VOCs) from paints and adaptation of bio-based chemicals. Almost all paints & coatings contain organic compounds as one of the key ingredients, which are released to the atmosphere during and after application. Different types of organic compounds have different health and environment impact. Due to potential health hazards, most of the VOCs are regulated by governments in various countries across the globe. On the other side, the limited available non-renewable resources have pushed us to decrease our dependence on them and to look out for bio-based manufacturing options. Environment Protection Agency (EPA) of the US and European Chemicals Agency (ECHA) in the European Union are leading the way globally with restriction of harmful chemical exposures regulations. The competitive environment has also changed with changing industry dynamics. Changing regulations and consumer preferences have forced companies to increase their R&D focus towards green chemicals to replace almost everything from solvents to pigments. Geographically, companies are already facing stiff competition in bigger markets of North America and the European Union. They have been introducing many low VOC content products to gain market share with major players claiming to have reduced average VOC by as much as 9% (AkzoNobel N.V.) by 2015. Many companies have changed their focus from bigger market to relatively smaller and emerging markets such as BRIC countries, where competition is relatively less and high economic growth is fueling the market demand. Inorganic growth opportunities have also been sought to increase market share. DuPont and Dow Chemical merger is expected to result in the creation of new market leader for industry. On the other hand, Sherwin-Williams has also been acquiring companies to increase the market footprint. Some of the notable addition to their portfolio were Leighs Paints in 2011, COMEX in 2013, and Valspar in 2016. Increasing market consolidation is also changing the market dynamics for new and smaller players catering to specific requirements in the industry. All these strategies and developments are expected to contribute positively towards society saving their financial interests in parallel. Some of the titles illustrating Infoholic Research’s coverage of Paint and Coating industry are: Thermochromic Pigment Market: By Type (Reversible and Irreversible) & By Application (Paint & Coating, Ink Printing, Plastic) – Global Trends and Forecast to 2022
News Article | May 12, 2017
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. Through its exchanges, CME Group offers the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange,energy, agricultural products and metals. CME Group provides electronic trading globally on its CME Globex platform. The company also offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives through its clearinghouses CME Clearing and CME Clearing Europe. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth. CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT, Chicago Board of Trade, KCBT and Kansas City Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cme-group-announces-record-open-interest-of-1257-million-contracts-300456836.html
News Article | May 15, 2017
Our market review shows that silver price finished higher last week (about 16,04 per ounce) and continues recovering over the intermediate-term. To review the primary operating motive of this series of articles: there are hundreds of fundamental factors driving the precious metals markets (currency debasement, potential stock market declines, geopolitical instability, jewelry demand, and industrial fabrication being the major ones). However, no one can ever know the sum of all fundamental factors impacting a market. To attempt to do so would require complete knowledge of all the factors impacting of each and every single participant in the international market. Such is an impossibility. Yet the one place in which every market participant comes together – no matter what his or her specific fundamental belief – is in the decision to buy or sell at a specific price point. Price is where the sum of all market participants converge. Thus, by studying price foremost, we can observe what is actually happening in the market by filtering out the ‘noise’ that so often accompanies fundamental-only analysis. And by observing trends in price – the sum of the buyers and sellers – we can align ourselves with the strongest ones in an attempt to profit. Let us take a good look at silver this week. Silver price finished higher last week by $0.13 cents to close at $16.40 as of the final trade on the New York COMEX on Friday afternoon, a gain of 0.8%. On the very short-term, the RSI momentum indicator (top of chart), which had registered the most oversold reading since the 2015 bottom, correctly gave us a warning of this bounce that is underway. The question of how far this advance continues remains to be seen. We would like to see silver regain its broken rising linear trendline (dashed blue), by maintaining a weekly close above $16.50. Such would register the recent break as a “false breakdown” at the most-oversold reading in nearly two years, which would solidify this low as an important medium-term bottom. Conversely, if $16.50 fails to be regained again over the next two weeks and silver tops out below the broken trendline, we will consider this a sign of caution. A sign of caution does not mean we negate the entire thesis for a Q3 – Q4 breakout in the metals. It would suggest, however, that silver could continue to lag throughout the initial stages of gold’s advance, perhaps failing to exceed its 2016 high ($21.25 ) within the same immediate time as when gold finally exceeds its relative $1,378 peak. Support lines between $16.75 - $17.25 has been removed from the silver chart above from the version from several weeks ago because, after serving as an important magnet for prices on four successive junctures from last October through the previous week, the zone failed to hold during the most recent decline. For whatever reason, a new group of sellers have shown up and/or buyers did not appear within that range as we had observed them previously, and so we must adjust our perspective and outlook accordingly. On the positive side, because this level is no longer a support zone, it will also no longer be a resistance level as silver moves higher. Sellers should be largely absent within this region. There is little in the way of resistance until $17.75, which becomes our target on a recapturing of the broken blue trendline at $16.50. This was the pivot low from the April correction. Over the long-run, we have targets much higher than $17.75. However, over the short run this should serve as short-term resistance. Silver must at minimum consolidate above Important Support labeled at $15.75 to keep the bull market thesis intact during the remainder of 2017. A break below this level would signal a major red flag for gold and cause us to have to rework the 2017 – 2020 long-term model. We often use the ratio between large-cap silver miners and silver bullion itself to gauge short-term pivot points in the metals. Silver Wheaton (SLW) is our large-cap miner of choice, a sector leader across most timeframes. Below we update the chart, with SLW on top and SLV (silver bullion proxy) immediately below. Note that SLW now is firmly within the 2017 mid-consolidation (above the green support band), while silver itself is well below its correlated price zone. In essence, SLW often discounts short-term price movements that will not last in the underlying silver market. This leading indicator is calling for a continued recovery in silver over the intermediate-term, although please note that this signal can sometimes occur early, i.e. immediate weakness in silver can occur for the first few days, and then the recovery begins. Those looking to do short-term trading in silver should use other confirming technical indicators such as momentum and trendlines analysis. Christopher Aaron has been trading in the commodity and financial markets since the early 2000's. He began his career as an intelligence analyst for the Central Intelligence Agency, where he specialized in the creation and interpretation of the pattern of life mapping in Afghanistan and Iraq. Technical analysis shares many similarities with mapping: both are based on the observations of repeating and imbedded patterns in human nature. His strategy of blending behavioral and technical analysis has helped him and his clients to identify both long-term market cycles and short-term opportunities for profit.
News Article | May 24, 2017
In addition, the company's Class B-1 shareholders elected Jeffrey M. Bernacchi, Gedon Hertshten and Howard J. Siegel for one-year terms; Class B-2 shareholders elected Ronald A. Pankau and David J. Wescott for one-year terms, and Class B-3 shareholders elected Elizabeth A. Cook for a one-year term, each ending in 2018. The official results and voting percentages for each of these proposals will be disclosed in a report to be filed early next week with the Securities and Exchange Commission. As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. Through its exchanges, CME Group offers the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. CME Group provides electronic trading globally on its CME Globex platform. The company also offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives through its clearinghouses CME Clearing and CME Clearing Europe. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth. CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT, Chicago Board of Trade, KCBT and Kansas City Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cme-group-inc-announces-preliminary-results-from-its-2017-annual-meeting-of-shareholders-300463283.html
News Article | April 17, 2017
The US dollar abruptly reversed and moved higher last week, finishing up 0.8 points to close at 100.2 on the Dollar Index. The US dollar remains at a critical technical juncture, and as the currency typically has an overwhelming impact on gold prices over the short-term, we place our primary attention there this week. After seeming to break down during the overnight hours in Asia a week ago, the US dollar abruptly reversed and moved higher last week, finishing up 0.8 points to close at 100.2 on the dollar index. The dollar is whipsawing traders at present and is caught immediately in the crosshairs of an important technical battle. Despite the failure to follow-through in last week’s breakdown, the dollar remains within the zone of former support, which may now act as resistance, beneath 100.5 on the index. This zone is shown in black. The important point about the short-term technical picture is that the dollar has now put in three separate lower lows (99.5, 99.2, and 98.8) since the breakout from the 2015 – 2016 consolidation. This is not the sign of a market prepared to make another multi-year advance. The bids at the retest lows we observe (below 99.5) are not enthusiastic; rather, they are fading as time progresses. In a strong breakout of a multi-year consolidation, we might indeed expect one or two retests of the former resistance zone. Yet following these retests, a market should move strongly higher to hit the consolidation target (which was calculated as 108 on the dollar index). We have seen no such strength in the dollar since its breakout. Instead, we have seen three retests – each one occurring lower than the prior. If the dollar does somehow manage to rally at this juncture – perhaps by some jawboning statement by the Federal Reserve about a “strong dollar policy” – we expect the US currency could stage a marginal final rally toward the aforementioned 108 target. If this does materialize, we expect to see precious metals not sell-off materially, but instead to show relative strength – perhaps consolidating with slight downward bias – as the dollar makes its terminal advance. Essentially, the precious metals should anticipate that the dollar is in the final stages of its advance, whether or not the exact top print has already been posted. In retrospect – this is exactly what gold and silver have done thus far during the past 15 months. Gold is up nearly $200 and silver up $4.50 even as the dollar is just shy of a 9-year high. We suspect buyers have entered the precious metals market ahead of time, knowing that the dollar was approaching an important multi-year top. The next few weeks continue to be critical to monitor for the dollar. On the chart above we can see that the US currency is now “sandwiched” between its rising (blue) trendline from the May 2016 low and its falling short-term trendline (teal) from the January high, all the while sitting squarely within the 2015 – 2016 resistance zone (black double lines). This is a tight technical situation indeed. Gold advanced nominally last week, rising $2.70 or 0.2% to close at $1,251 as of the final trade on the New York COMEX on Friday afternoon. Minor resistance was seen as anticipated below $1,265. The high trade for the week came in at $1,262. Minor support levels exist at $1,200 and $1,180. The near-term technical situation remains largely unchanged from our most recent update, and is focused upon the resolution of the pennant formation (red highlight) visible on the chart above. As this pattern is drawing closer to a resolution, we will begin to regularly track the precise figures which would constitute a breakout in either direction. Those levels are: Whichever of these boundaries breaks first, the resolution of this pattern will set the stage for the direction of the entire precious metals market for the subsequent 12-18 months. It will be an exciting remainder to 2017 to say the least! Christopher Aaron has been trading in the commodity and financial markets since the early 2000's. He began his career as an intelligence analyst for the Central Intelligence Agency, where he specialized in the creation and interpretation of the pattern of life mapping in Afghanistan and Iraq. Technical analysis shares many similarities with mapping: both are based on the observations of repeating and imbedded patterns in human nature. His strategy of blending behavioral and technical analysis has helped him and his clients to identify both long-term market cycles and short-term opportunities for profit.
News Article | April 17, 2017
The next 2-3 trading weeks will set the trajectory for gold price for the remainder of 2017. Early indicators suggest the eventual outcome will be higher. Gold is inching ever closer to a resolution of the primary converging pattern that we have been monitoring for the last six months. The resolution of this pattern is going to define the trajectory for the precious metals market into 2018, so it continues to deserve our foremost attention. We have supporting indicators from other markets, but we should always evaluate gold as a distinct entity. The price action over the last week has been encouraging, although not yet decisive. For the week, gold finished higher by 2.5% or $31, to close at $1,288 as of the final trade on the New York COMEX late Friday afternoon. There are two significant technical concerns at this juncture. Please reference the updated 18-month gold chart below: High volume reversals are near-universally never exceeded on the first attempt to overcome them. The reason for this is the sheer number of gold buyers who purchased futures contracts that day and are now underwater, and who then desire to sell at break-even when the price matches their entry level. Again, gold’s November 9 reversal saw the highest ever daily volume in gold trading history, and so barring an outbreak of major international war, we place the odds of gold exceeding the $1,310 - $1,337 Trump Reversal Resistance at near-zero on its first attempt. Yes, international tensions are on the rise, as can be seen over the last two weeks with the United States retaliation against Syria; the US dropping the largest non-nuclear bomb ever detonated against ISIS in Afghanistan; continued saber-rattling between North Korea, China, and the US; and uncertainty regarding Russian support for Syria. Yet unless world superpowers are literally on the edge of World War III – an event we see as a low probability – the two technical resistance levels referenced above are the ones that will exert primary influence on the gold market here and now. This week we noticed early warning trend indicators coming from the gold mining complex. Note in the chart below how the senior gold miners index (HUI) has broken out through its similarly-shaped converging pattern (blue lines). At this juncture, it appears that the miners are hinting that strength is to be expected in gold bullion itself. The pending breakout pattern for gold will be important because the initial target of the breakout is calculated to be equal to the 2016-2017 consolidation amplitude: roughly $330 ($1,378 - $1,045, rounded down). As gold’s consolidation reaches an apex at $1,205 (see far right, gold chart page 1), the gold target for a breakout is $1,535 within 6-12 months. The timing for gold’s next advance therefore depends on when it indeed breaks its long-term downtrend. Two scenarios are thus illustrated on the chart (page 1) above, highlighted in green and orange/red. The next 2-3 trading weeks will set the trajectory for the remainder of 2017. A strong advance through the declining long-term downtrend sets the stage for a first challenge of the Trump Reversal Resistance zone, which should be followed by a retest of the broken line. We then expect a strong impulsive advance to target new highs for gold in 2018. Conversely, a rejection at the long-term downtrend means gold must continue to consolidate within its primary converging pennant for Q2 – Q3. Early indicators suggest the eventual outcome will be higher, although a low-probability resolution to the downside must be monitored until proven otherwise. Christopher Aaron has been trading in the commodity and financial markets since the early 2000's. He began his career as an intelligence analyst for the Central Intelligence Agency, where he specialized in the creation and interpretation of the pattern of life mapping in Afghanistan and Iraq. Technical analysis shares many similarities with mapping: both are based on the observations of repeating and imbedded patterns in human nature. His strategy of blending behavioral and technical analysis has helped him and his clients to identify both long-term market cycles and short-term opportunities for profit.
News Article | February 22, 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 22, 2017) - FIRST MAJESTIC SILVER CORP. (FRANKFURT:FMV)(TSX:FR)(NYSE:AG)(BVM:AG) (the "Company" or "First Majestic") is pleased to announce the consolidated financial results for the Company's fourth quarter and year ended December 31, 2016. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.firstmajestic.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise. "First Majestic delivered yet another record year of production, realizing the high end of our annual production guidance of 18.7 million silver equivalent ounces while achieving an all-in sustaining cost of $10.79 per ounce that came in well below our cost guidance range of $11.50 to $12.35 per ounce," said Keith Neumeyer, President and CEO of First Majestic. "Our operating cash flows were more than sufficient to internally fund our capital expenditures program in addition to strengthening our treasury to $129.0 million at year end, the highest balance in the Company's history. The cash flows currently being generated are being reinvested in our 2017 budget which is expected to result in production growth in 2018. The key areas of focus in 2017 are the construction of the roasting system at the La Encantada mine and the exploration and development programs at both the La Guitarra mine and the Plomosas project." Full year revenues achieved a new record of $278.1 million, an increase of $58.7 million or 27% compared to 2015, primarily due to a 16% increase in total production and the increase in silver prices. The Company realized an average silver price of $17.16 per ounce in 2016, slightly beating the COMEX annual silver price average of $17.10 per ounce and representing a 7% increase compared to 2015. Annual mine operating earnings totaled $49.2 million, an increase of 464% compared to $8.7 million in 2015. The increase in mine operating earnings was primarily driven by record-breaking production, lower production costs and higher silver prices. The Company generated net earnings of $8.6 million (earnings per share of $0.05) in 2016 compared to a net loss of $108.4 million (loss per share of $0.84) in 2015. In 2015, the Company recorded an impairment charge of $108.4 million, or $70.2 million net of tax, on certain operations and development projects due to the decline in market consensus on long-term silver price forecasts during 2015 and the consequential impact on the Company's Reserves and Resources. Adjusted EPS normalized for non-cash or unusual items, such as impairment of non-current assets, deferred income tax expense or recovery and share-based payments was $0.12 per share in 2016. Cash flows before movements in working capital and taxes increased by 80% to $107.3 million ($0.67 per share) compared to the prior year primarily due record production output and higher silver prices. Cash flows were also more than sufficient to fully fund the Company's capital budget program. The Company ended 2016 with a record $129.0 million in cash and cash equivalents compared to $51.0 million at the end of 2015. In addition, the Company ended the year with a surplus in working capital of $130.6 million compared to $15.6 million at the end of 2015. Revenues generated in the fourth quarter of 2016 totaled $66.2 million, representing a slight increase compared to $66.0 million in the fourth quarter of 2015. The Company realized an average silver price of $17.10 per ounce, relatively in line with the COMEX quarterly silver price average of $17.12 per ounce and representing a 12% increase compared with the fourth quarter of 2015. Mine operating earnings were $9.9 million compared to $3.9 million in the fourth quarter of 2015. The increase was driven by the increase in silver prices, partially offset by a 9% decrease in production. The Company generated net earnings of $1.8 million (earnings per share of $0.01) compared to a net loss of $103.0 million (loss per share of $0.66) in the fourth quarter of 2015. Adjusted for non-cash or unusual items such as impairment of non-current assets, deferred income tax expense or recovery and share-based payments, the Company reported a loss of $0.01 per share. Cash flows before movements in working capital and income taxes were $23.4 million ($0.14 per share), compared to $17.5 million ($0.11 per share) in the fourth quarter of 2015. The Company produced a record 11.9 million ounces of silver in 2016, near the high end of the revised guidance and representing a 6% increase compared to 11.1 million ounces produced in the previous year. The increase was primarily attributed to the addition of the Santa Elena mine for the full year, partially offset by lower production from Del Toro and San Martin, both of which lowered throughput to focus on mining profitable ounces. Total production in 2016 reached a record of 18.7 million silver equivalent ounces, also near the high end of the 2016 guidance, representing an increase of 16% compared to the previous year. The increase in production was primarily attributed to incremental production from Santa Elena, partially offset by lower by-product production from Del Toro and La Parrilla. Cash cost per ounce in the year was $5.92, a decrease of 25% or $1.95 per ounce compared to the previous year and within the Company's guidance. The decrease in cash cost per ounce was attributed to ongoing company-wide cost reduction efforts and a focus on producing profitable ounces, a decrease in smelting and refining costs as a result of renegotiated sales agreements that were effective on July 1, 2016, and weakening of the Mexican pesos against the U.S. dollar. AISC per ounce in 2016 was $10.79, a decrease of 20% or $2.64 per ounce compared to the previous year and is below the revised annual guidance of $11.50 to $12.35 per ounce. The decrease in AISC per ounce was reflective of the Company's ongoing effort to reduce production costs, weakening of the Mexican pesos against the U.S. dollar, as well as the addition of the Santa Elena mine to the Company's portfolio of assets, which became the Company's lowest cost mine. The Company's total capital expenditures in 2016 was $65.9 million, an increase of 6% compared to the prior year, primarily consisting of $15.2 million at Santa Elena, $10.0 million at La Encantada, $11.5 million at Del Toro, $11.1 million at La Parrilla, $6.4 million at San Martin and $9.0 million at La Guitarra. The investments consisted of underground development, exploration, construction and expansion projects and acquisitions of new mining equipment. As previously announced, the Company plans to invest a total of $124.0 million on capital expenditures in 2017 consisting of $46.2 million for sustaining requirements and $77.8 million for expansionary projects. The Company is preparing for future production growth by developing additional mine production levels at each of the Company's operations, preparing for the upcoming expansion at La Guitarra, completing the roasting circuit and preparing for block caving at La Encantada, in addition to the exploration work at Plomosas which is expected to result in a new Preliminary Economic Assessment in 2018. In the fourth quarter, the Company produced 2.8 million ounces of silver, a decrease of 9% compared to the previous quarter, primarily due to a 9% decrease in average silver grade. Total production reached 4.4 million silver equivalent ounces in the fourth quarter, representing a decrease of 3% compared to the previous quarter. The decrease in silver grades is primarily due to lower grades at Del Toro in the month of October due to limited production at the high grade Dolores mine. As a result, the Company increased production rates at the San Juan mine to offset the decrease. Beginning in November, production at the Dolores mine returned to normal operating levels. Average silver grade at La Encantada also decreased 9% compared to the prior quarter primarily due to the continued blending of ore from old stopes, stockpiles and the recovery of pillars. Grades are expected to improve towards the end of 2017 following the start of block caving production within the San Javier Breccia. Cash cost per ounce in the quarter was $6.49, an increase of 11% or $0.65 per ounce compared to the previous quarter. The increase in cash cost per ounce was primarily the result of lower silver grades leading to lower silver production and higher mining contractor costs attributed to ore development activities at the Santa Elena mine. All-in sustaining cost per ounce ("AISC") in the fourth quarter was $12.90, an increase of 23% or $2.38 per ounce compared to the previous quarter. The increase in AISC was primarily attributed to an increase in sustaining capital expenditures to catch up with program targets in addition to higher cash cost per ounce. Capital expenditures in the fourth quarter were $25.7 million, an increase of 24% compared to the prior quarter, primarily consisting of $3.2 million at Santa Elena, $5.6 million at La Encantada, $4.0 million at Del Toro, $5.0 million at La Parrilla, $2.2 million at San Martin and $4.3 million at La Guitarra. In the fourth quarter of 2016, the Company entered into two option agreements to acquire additional mining concessions around the Del Toro and Santa Elena mines. In October 2016, the Company entered into an agreement to acquire an additional 7,205 hectares of mining concessions near Del Toro for the total purchase price of $1.5 million, payable over six equal payments every six months, with $0.3 million having been paid as of December 31, 2016. In addition, the Company entered into an option agreement in December 2016 with Compania Minera Dolores, S.A. de C.V., a subsidiary of Pan American Silver Corp., to acquire 5,802 hectares of mining concessions adjacent to the Santa Elena mine. In exchange, First Majestic has agreed to incur $1.6 million in exploration costs on the property over four years, a 2.5% NSR royalty on the related concessions, and to pay $1.4 million in cash, of which $0.1 million was due on or before the date of agreement (paid), $0.2 million in December 2017, $0.2 million in December 2018, $0.3 million in December 2019 and $0.7 million in December 2020, respectively. The Company will be holding a conference call and webcast on Wednesday, February 22, 2017 at 10 am PDT (1 pm EDT). To participate in the conference call, please dial the following: Participants should dial in 10 minutes prior to the conference. Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call will be posted at www.firstmajestic.com. The conference call will be recorded and you can listen to an archive of the conference by calling: The replay will be available approximately one hour after the conference and will available for seven days following the conference. The replay will also be available on the Company's website for one month. First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates six producing silver mines; the La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and the Santa Elena Silver/Gold Mine. Production from these six mines is projected to be between 11.1 to 12.4 million ounces of pure silver or 16.6 to 18.5 million ounces of silver equivalents in 2017. This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral reserve and resource estimates and estimates of future production and costs of production at our properties; estimated production rates for silver and other payable metals produced by us, the estimated cost of development of our development projects; the effects of laws, regulations and government policies on our operations, including, without limitation, the laws in Mexico which currently have significant restrictions related to mining; obtaining or maintaining necessary permits, licences and approvals from government authorities; and continued access to necessary infrastructure, including, without limitation, access to power, land, water and roads to carry on activities as planned. These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada, Mexico; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properties are mined; the Company's title to properties; and the factors identified under the caption "Risk Factors" in the Company's Annual Information Form, under the caption "Risks Relating to First Majestic's Business". Investors are cautioned against attributing undue certainty to forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
News Article | March 1, 2017
Radixweb, leading IT Outsourcing and Software Development Company, announced that it will be a part of COMEX 2017 in Oman from 28th to 30th March. Radixweb team is confident that booth 917 will become a beehive of activity for visitors who seek to redefine business approach, accelerate revenue growth and want to lead the race. To make most of personalized consultation COMEX Oman 2017 visitors can book an appointment now. COMEX Oman signifies to be one of the most awaited premier events in the Middle East, as it is an ideal confluence of IT, Telecom and emerging technology on a single platform. Spurred by the rapid growth in IT, the entire Middle East region is looking forward to make the right IT investment decision and choose the right partner. To tap this very sentiment of COMEX this year, Radixweb is highly focused on showcasing cutting-edge technologies and proven processes tailored for Middle East region and help visitors gain the best out of IT and transform business. Full Spectrum of Showstopper Exhibits by Radixweb for COMEX 2017: Enterprise Software Development: Entire range of bespoke development services to convert ideas into reality Enterprise Mobility: Evolve beyond ‘mobile first’ approach and imbibe mobile-driven strategies using EMM Application Modernization: Re-engineer legacy systems to adopt cloud and latest technology platforms to stay a step ahead Cloud Computing & Consulting: Leverage best of clouds to deliver greater user experiences Microsoft Dynamics CRM: Add more value and power to specific business needs with Dynamics 365 At COMEX, Radixweb’s best tech-driven trio of Pratik Mistry (Sr. Business Head), Maitray Gadhavi and Nihar Raval (Sr. Business Development Managers) will be on the floor. “It is imperative for businesses to adapt the knack of changing technology and emerge as a winner- to meet complex customer demands. Radix, a globally trusted partner for IT consulting and strategy services, works as a perfect catalyst for enterprises to reduce cost of maintenance, increase flexibility and scalability. As we are in our hat trick year at COMEX, our team is fully geared up to give personalized consultation on how to leverage tech to attain sustainable growth for businesses and also meet our existing customers to strengthen their technology footprint”, says Mr. Pratik Mistry, Senior Business Head- Radixweb. “With each passing year, our association with COMEX and its attendees continues to grow fruitfully. Being a regular participant since last two years, we plan to help more visitors to resolve their constraints revolving around field service automation and cloud enablement- the in-trends of the technology landscape with our sought after solutions”, quips Gadhavi. Established in 2000, Radixweb is a leading software product development and IT Outsourcing services provider. The company delivers a complete range of IT services and enterprise-class solutions to clients from SMEs to fortune 500 companies across the globe. Radixweb key Service offerings include Bespoke Software Development, Embedded Software Development, Software Product Development, Web & Desktop Application Development, Application Performance Optimization and more. Due to consistent and reliable service delivery, the company earned credentials like Microsoft Gold Partner, Top Enterprise Software Development firm 2016 & Top .Net Developers 2016 by Clutch, Kentico Bronze Partner, nopCommerce Partner, ISO Certification for quality processes and Adobe Solutions Partner. For details, please visit http://simplified-it-outsourcing.com
News Article | February 20, 2017
Based on the recent analysis, we can conclude that gold itself still has further room to run over the intermediate timeframe. There are several unique signals showing us that – barring minor intra-week corrections that could occur at any time – gold is set to move higher toward the $1,300 region before any more significant retracement may be due. To arrive at this target, we examine both the relative strength of the gold mining complex and also the price action in silver. Based on analysis of these related but separate markets, we can conclude that gold itself still has further room to run over the intermediate time frame. Let us begin by examining the relative strength of the gold-mining sector versus the price action of gold bullion itself. Below we show the GDX large-cap gold mining fund on top with the price of gold immediately below it – stripped of all our typical annotations for a direct examination of relative performance. The top green band shows that the gold miners are now back to a resistance level between 25-26 on the GDX fund, which was previously reached both last August and immediately following the Trump-victory in November. The two vertical grey bands correspond to these points in August and November. By following the bands downward, we can observe what the price of gold was the last time the mining sector was valued near 25-26 on the GDX fund. The last two times the GDX traded between 25-26, gold averaged $1,305 per ounce. The gold mining complex is intrinsically related to the price of the metal itself, as the sector’s profits are derived largely from spot bullion prices. Closing the week at $1,238 as of the last trade on the New York COMEX on Friday, the mining sector is already pricing in nearly a $67 per ounce increase in spot gold. To further the case for the $1,300 gold target, we turn next to the latest action in silver. As of Friday, we note that gold’s cousin rose for the 8th week in a row last week, rising 0.5% or $0.10 cents to finish at $18.03 as of the final bid in New York. We maintain a target of $18.75 for silver, based on the amplitude ($1.50) of the bottoming pattern observed prior to the breakout above $17.25 in late-January. It would be rare for silver to achieve a higher target without gold moving higher as well, and so the silver analysis that follows has direct implications for the $1,300 gold target referenced above. There is an important point that traders may wish to note on the silver chart. Our typical analysis is based on best-fit trend lines, to use the term from statistical analysis. However, as the highs composing the upper trend line do not fit perfectly (no trend lines ever will), and as we are anticipating a breakout with some volatility along the way, it would also be wise to identify an absolute-highs trend line. Such is indicated above on the silver chart by the lighter dashed blue line. Using an absolute-highs trend line, the declining primary trend would come in closer to $18.20. Which line is more relevant toward the breaking of silver’s downtrend and the establishment of a new period of rising prices? Generally, the breaking of a best-fit line is most critical. However, the absolute-highs line is important to keep in mind solely for the reason that some traders will be focusing on it. We should expect some traders to treat it as the defining trend line for the primary decline which began in July 2016. As such, some short-term selling pressure should be seen there. In due time, those sellers at $18.20 should be taken out during the upcoming advance toward $18.75 if our technical targets are to be met. From that point onward, we will have to re-assess the silver’s short-term setup. Having broken through the best-fit trend line of the primary declining channel (royal blue), silver now finds itself directly challenging the absolute highs trend line. While grinding price action lasting up to 2 weeks could be expected underneath the absolute highs trend line, prices should be well-supported by the $17.25 support level (black line). We expect that the absolute highs trend line will be broken within the next two weeks, and when it does, the advance toward the $18.75 target will be quick, needing only 3-5 trading days to reach this level. Please keep in mind that silver, being an extremely small market at only $20 billion in annual physical sales, is prone to overshoot technical targets – both to the upside and to the downside. Should silver exceed $18.75 on this move, a surge to $19.75 is not out of the question as an overshoot by mid-April. Once we observe the price action around the next high, we will begin to gauge the potential for an intermediate retracement. The price action of both metals is set to get increasingly volatile through 2017, but as the investment adage goes: “with volatility comes opportunity”. Christopher Aaron has been trading in the commodity and financial markets since the early 2000's. He began his career as an intelligence analyst for the Central Intelligence Agency, where he specialized in the creation and interpretation of the pattern of life mapping in Afghanistan and Iraq. Technical analysis shares many similarities with mapping: both are based on the observations of repeating and imbedded patterns in human nature. His strategy of blending behavioral and technical analysis has helped him and his clients to identify both long-term market cycles and short-term opportunities for profit.
News Article | February 15, 2017
Two scenarios would change the validity of the basing action we are observing in the long-term cup formation of gold price. Gold was resilient over the last two weeks in holding up over the $1,200 level. But for the week, gold closed down $16 or 1.4% to finish at $1,188 as of the final trade on the New York COMEX on Friday.