GoldMinerPulse Report: First Majestic Silver Corp. Metal Value



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First Majestic Silver Corp. (FR) NI 43-101 Metal Value Report

First Majestic Silver Corp. is in the business of production, development, exploration, and acquisition of mineral properties with a focus on silver in Mexico. [Source: June 2010 Interim Consolidated Financial Statements]

The First Majestic Silver Corp. website is at www.firstmajestic.com.

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GoldMinerPulse Metrics Summary

This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-09-22.

The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.

First Majestic Silver Corp. Metric Summary
General MetricValue on 2012-02-03
In Situ Metal Value per Share (MVpSh)US$128.09
Average Ore Value per TonneUS$272.70
Metal Value Leverage (MVL)6.40
Market Capitalization as a Percentage of Metal Value15.6%
Recent Closing Stock PriceC$19.89
[note 1]
Fully Diluted Share Count109.10 M
[note 2]
Percentage In Situ Proven + Probable Reserve26%
Percentage In Situ Measured + Indicated Resource27%
Percentage In Situ Inferred Resource47%
Silver Specific Metrics
MetricValue on 2012-02-03
Silver Reserves + Resources318.03 M oz
Average Silver Ore Grade193.0 g/t
Market Capitalization per oz of Silver In SituUS$6.87
( C$6.82 )
Silver Equivalent Ounces Estimate415.55 M oz
Market Capitalization per oz of Silver EquivalentUS$5.26
( C$5.22 )
 

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE)

All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.

Metal Summary Based on Closing Prices on 2012-02-03
Metric / MetalGoldSilverLeadZinc
Total Counts (reserves + resources)7.02 K oz318.03 M oz718.58 K t786.50 K t
Metal Prices in US$ (from 2012-02-03)$1,725.90 / oz$33.63 / oz$1.00640 / lb$0.96490 / lb
Metal Value per Share (MVpSh)
Shown in US$. Based on fully diluted share count
$0.11$98.03$14.61$15.34
Percentage of Total Metal Value0.09%76.53%11.41%11.97%
Metal Value Percentage Proven + Probable48%26%26%25%
Metal Value Percentage Measured + Indicated15%28%26%26%
Metal Value Percentage Inferred37%47%48%50%

The above metal value totals derive from the following projects.

Project/Deposit/Mine Summary Based on Closing Prices on 2012-02-03
Project Location Metal Value per
share (% total)
Average
Ore Value
US$/t
GoldSilverLeadZincPP%MI%I%
La ParrillaDurango State, Mexico$37.75 ( 29.5% )US$235.767.02 K oz95.03 M oz175.32 K t245.03 K t40%8%52%
La EncantadaCoahuila State, Mexico$34.02 ( 26.6% )US$282.70 83.26 M oz226.58 K t192.33 K t46%35%19%
San MartinState of Jalisco, Mexico$25.12 ( 19.6% )US$261.66 63.00 M oz128.48 K t158.26 K t8%12%79%
Del ToroZacatecas, Mexico$16.10 ( 12.6% )US$547.36 29.94 M oz170.32 K t174.95 K t039%61%
La LuzSan Luis Potosí, Mexico$15.10 ( 11.8% )US$236.53 46.80 M oz17.88 K t15.93 K t072%28%

 

Del Toro

Latest NI43-101 Report: Technical Report for the Del Toro Silver Mine, Zacatecas State, México
2008-10-08 (113 pages).

Updates: Reserves & Resources webpage (viewed online September, 2011).

Project Location: Zacatecas, Mexico in the Mexican Silver Belt mining region.

Average Ore Value (all estimate types): US$547.36

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$3.6711.92 M oz269.000 g/t1.38 M t
Lead$1.3164.63 K t  46,900.000 g/t1.38 M t
Zinc$1.2966.14 K t  48,000.000 g/t1.38 M t

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$5.5518.02 M oz306.000 g/t1.83 M t
Lead$2.15105.69 K t  57,700.000 g/t1.83 M t
Zinc$2.12108.81 K t  59,400.000 g/t1.83 M t

 

La Encantada

Latest NI43-101 Report: Technical Report for the La Encantada Silver Mine Coahuila State, México, AMENDED and RESTATED
2009-02-26 (134 pages).

Updates: Reserves & Resources webpage (viewed online September, 2011).

Project Location: Coahuila State, Mexico in the Sierra Madre Oriental mining region. View project on a Google Map.

Average Ore Value (all estimate types): US$282.70

Proven + Probable

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$10.7134.75 M oz208.000 g/t5.20 M t
Lead$2.56125.74 K t  24,200.000 g/t5.20 M t
Zinc$2.36121.06 K t  23,300.000 g/t5.20 M t

Estimate notes: See TABLE 3-1 First Majestic Silver Corp.Minera La Encantada, S.A. de C.V.La Encantada Mine on p. 11 of 134 of the (NI) 43-101 report dated January 2009.
Cut Off Grade (COG) estimated as 250 g/tonne Ag only; and 228g/tonne Ag eqv net of Pb credit.

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$9.3830.42 M oz176.000 g/t5.38 M t
Lead$1.5375.27 K t  14,000.000 g/t5.38 M t
Zinc$0.8945.70 K t  8,500.000 g/t5.38 M t

Estimate notes:

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$5.5818.09 M oz220.000 g/t2.56 M t
Lead$0.5225.57 K t  10,000.000 g/t2.56 M t
Zinc$0.5025.57 K t  10,000.000 g/t2.56 M t

Estimate notes:


 

La Luz

Updates: Reserves & Resources webpage (viewed online September, 2011).

Project Location: San Luis Potosí, Mexico in the Mexican Silver Belt mining region.

Average Ore Value (all estimate types): US$236.53

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$10.3933.69 M oz205.000 g/t5.11 M t
Lead$0.2813.80 K t  2,700.000 g/t5.11 M t
Zinc$0.2512.78 K t  2,500.000 g/t5.11 M t

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$4.0413.11 M oz220.000 g/t1.85 M t
Lead$0.084.08 K t  2,200.000 g/t1.85 M t
Zinc$0.063.15 K t  1,700.000 g/t1.85 M t

 

La Parrilla

Latest NI43-101 Report: Technical Report for the La Parrilla Silver Mine, Durango State, Mexico
2009-02-26 (128 pages).

Updates: Reserves & Resources webpage (viewed online September, 2011).

Project Location: Durango State, Mexico. View project on a Google Map.

Average Ore Value (all estimate types): US$235.76

Proven + Probable

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$0.053.38 K oz0.020 g/t5.26 M t
Silver$10.5334.17 M oz202.000 g/t5.26 M t
Lead$1.2159.45 K t  11,300.000 g/t5.26 M t
Zinc$1.4574.18 K t  14,100.000 g/t5.26 M t

Estimate notes: Underground, Oxides and Sulfides

Proven + Probable

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$1.795.82 M oz102.000 g/t1.77 M t

Estimate notes:

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$0.021.05 K oz0.030 g/t1.09 M t
Silver$1.575.10 M oz146.000 g/t1.09 M t
Lead$0.4220.54 K t  18,900.000 g/t1.09 M t
Zinc$0.9649.35 K t  45,400.000 g/t1.09 M t

Estimate notes: Underground, oxides + sulfides

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Gold$0.042.59 K oz0.010 g/t8.05 M t
Silver$14.1345.83 M oz177.000 g/t8.05 M t
Lead$1.6782.14 K t  10,200.000 g/t8.05 M t
Zinc$2.04104.69 K t  13,000.000 g/t8.05 M t

Estimate notes: Undeground, oxides + sulfides

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$1.274.12 M oz99.000 g/t1.29 M t
Lead$0.2713.19 K t  10,200.000 g/t1.29 M t
Zinc$0.3316.81 K t  13,000.000 g/t1.29 M t

Estimate notes: Open Pit


 

San Martin

Latest NI43-101 Report: Technical Report for the San Martín de Bolaños Silver Mine, State of Jalisco, México
2009-02-26 (113 pages).

Updates: Reserves & Resources webpage (viewed online September, 2011).

Project Location: State of Jalisco, Mexico in the Sierra Madre Occidental mining region. View project on a Google Map.

Average Ore Value (all estimate types): US$261.66

Proven + Probable

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$2.096.79 M oz274.000 g/t770.46 K t

Estimate notes:

Measured + Indicated

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$2.297.44 M oz154.000 g/t1.50 M t
Lead$0.2813.68 K t  9,100.000 g/t1.50 M t
Zinc$0.5327.06 K t  18,000.000 g/t1.50 M t

Estimate notes:

Inferred

MetalMVpShContained Metal QuantityOre GradeOre Quantity
Silver$15.0348.77 M oz185.000 g/t8.20 M t
Lead$2.33114.80 K t  14,000.000 g/t8.20 M t
Zinc$2.56131.20 K t  16,000.000 g/t8.20 M t

Estimate notes:

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