A Conversation with Keith Neumeyer of First Majestic Silver
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Keith Neumeyer is CEO of First Majestic Silver and chairman of a new venture called First Mining Finance. He stopped by TFMR today to discuss a number of topics near and dear to the hearts of metals investors everywhere.
Among the topics Keith addresses in this 28-minute podcast:
- The current state of miners and mining, the cost of production at First Majestic and the steps that miners take to manage and minimize costs during this period of depressed silver prices.
- The intentions and goals of the new venture he has formed with Eric Sprott, Rick Rule and others. Named First Mining Finance, Keith describes how it works and where folks can find the shares with the U.S. symbol "FFMGF".
- His attempt in 2014 to organize silver producers to withhold production in order to regain some control of the paper derivative pricing scheme.
- The letter he sent to the CFTC last month alleging concentrated positions and price manipulation. (http://www.zerohedge.com/news/2015-06-03/one-largest-silver-producers-world-slams-cftc-about-silver-market-manipulation) He also tells us about the response he's gotten from the CFTC on these issues.
- What changes Keith would make to the current paper derivative system in order to establish a free and fair market for discovering price.
It was a real pleasure and honor to have the opportunity to visit with Keith and we wish him well in all of his endeavors. Please take the time to give this podcast a thorough listen.
p.s. You may notice a few edits in the audio. Just as I was asking Keith about the CFTC and their response to his letter, the Skype audio cut out. Coincidence?
Keith Neumeyer is the Founder of First Majestic Silver Corp. (formerly, First Majestic Resources Corp.) and has been its Chief Executive Officer and President since November 3, 2001. Mr. Neumeyer has been the President and Chief Executive Officer of First Silver Reserve Inc. since June 19, 2006. He has an extensive experience dealing with the financial, regulatory, legal and accounting issues. He founded First Majestic Silver in 2002. He served in the investment community for 28 years beginning his career at a number of Canadian national brokerage firms and continued on with McLeod Young Weir (now Scotia McLeod), then Richardson Greenshields and then Walwyn Stogell McCuthchen (which became Midland Walwyn). Mr. Neumeyer moved on to work with several publically traded companies in the resource and high technology sectors. His roles have included senior management positions and directorships responsible in areas of finance, business development, strategic planning and corporate restructuring. Mr. Neumeyer has also listed a number of companies on the Toronto Stock Exchange and as such has extensive experience dealing with the financial, regulatory, legal and accounting issues that are relevant in the investment community. He was a co-founder and President of First Quantum Minerals Ltd. (T-FM). Mr. Neumeyer is also the Founder of First Mining Finance Corp. and serves as its Chairman of the Board.
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