First Majestic Silver Announces $75M Restart Plan for Jerritt Canyon Gold Mine, Targeting 2027 Production
AG has more than doubled off its 52-week low of $5.185.
Summary
First Majestic Silver Corp. is investing $75 million in 2026 to restart its Jerritt Canyon Gold Mine in Nevada, targeting production in the second half of 2027, leveraging an expanded mineral resource base.
Key Events · Product Development and Regulatory · AG
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Jerritt Canyon Mine Restart Announced
First Majestic Silver announced the restart plan for its Jerritt Canyon Gold Mine in Nevada, which was placed on care and maintenance in March 2023.
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Significant Capital Investment
The company plans to invest $75 million in 2026 to support the restart, covering surface support, plant upgrades, underground development, and exploration.
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Targeted Production Timeline
Production at Jerritt Canyon is expected to commence in the second half of 2027.
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Expanded Resource Base Driving Decision
The restart decision is driven by a new expanded Mineral Resource base of 4.1 million gold ounces (Measured & Indicated) and 3.7 million gold ounces (Inferred), combined with strengthened long-term gold price assumptions.
Analysis · AG · Energy & Transportation
This filing signals a significant strategic move for First Majestic Silver, committing substantial capital to bring a key gold asset back into production. The $75 million investment in 2026 underscores the importance of this initiative. The decision to restart the Jerritt Canyon mine, previously suspended due to high costs, is underpinned by recent positive developments, including an expanded mineral resource base (as reported in the 2026-04-01 6-K) and a more favorable gold price environment. This move is expected to enhance the company's future production profile and revenue streams, leveraging a fully permitted mine with existing infrastructure in a tier-one mining jurisdiction. Investors should monitor the progress of the pre-feasibility study and subsequent production updates for further insights into the mine's long-term economic viability.
At the time of this filing, AG was trading at $20.92 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $10.9B. The 52-week trading range was $5.19 to $32.04. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.