An Update from Keith Neumeyer of First Majestic Silver

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Last week, I had the privilege of once again speaking with Keith Neumeyer, CEO of First Majestic Silver and chairman of First Mining Finance. If you hold shares in either of these companies, you should be sure to give this a listen.

With all that's going on in the world, this update from Keith could not have been more timely. Over the course of this 16-minute call, Keith addresses:

  • The global supply/demand dynamics for silver and his opinion of derivative trading on the Comex
  • An update on the 2016 run-up in the share price of First Majestic as well as his thoughts on the recent pullback in the sector
  • The recent spinoff of three projects from the portfolio of First Mining Finance to a newly-created exploration company called Silver One Resources.

Again, anyone with holdings in AG or FF will certainly find this information worthwhile. Please take the time to give this podcast a thorough listen.



Marcrward's picture


Now to listen. Enjoy your weekend.

Dirt_Reynolds's picture


for Marchas
It seem a little too quiet out there? These narrow ranges are making me nervous. Like I should stack more.


forever20's picture

wicked , look forward to listening to this!

4th : hear what Keith has to say about the talking down of the First Majestic shares by the cokehead..should be interesting if it comes up.

mike97's picture

2016 Precious Metals Summit Sep 14-16 Good Presentations

I watched all of the presentations on miners I own or have on my watch list. You can see many miners presentations including Pat Donnely of First Mining Finance at  . There were many good presentations but to me the best presentation was for Auryn Resources (AUG on the TSX Venture). I am adding more next week.

You can watch Auryn Resources Inc.’s 2016 Precious Metals Summit presentation from the following link:

ArtL's picture


early Sat post

Sound Money Minnow's picture

I really wish a question was asked about the Kerrisdale piece

Craig, Thanks for asking Eric Sprott about Keith Neumeyer. It would have been great if you asked Keith himself about that article. It would have put the issue to rest. We are still in the dark about FFMGF and AG. I will be staying away from both as my radar is up. I am disappointed that you didn't ask him a direct question about that hit piece. I know it wouldn't have been easy, but it would have been in his best interest to put something false to rest. Now that AG is going to be out of GDXJ everyone should prepare for AG to under perform the market.


mgilbert's picture

Lucky 7

Lucky 7 - great way to start the weekend

Sound Money Minnow's picture

Forever 20

I guess we are both disappointed. For what it is worth I am wondering if some of the Kerrisdale Capitol piece doesn't have some truth to it. Asking Keith the question would have been like asking Hillary Clinton if she has Parkinson's Disease. Some questions I suppose, can't be asked, or you lose access. 


Turd Ferguson's picture

Before we began, I asked


Before we began, I asked Keith if he'd like to address the "report". He said that since, in his opinion, it had very little to do with the recent weakness in the AG share price, he didn't want to draw undo attention to it by rehashing it here.

That's how he felt so I respected his wishes. Remember, we're not talking about just internet blather. Keith is the CEO of a major, NYSE-listed corporation. There are investor relations and legal departments in play here...not just some blogger responding to the charges of another blogger.

In the end, anyone who feels compelled to sell AG or FF should just go ahead and do so. Most folks have significant gains and there are lots of other companies to invest in within the sector. Personally, I still own both as part of a diversified portfolio.

Response to: Forever 20
Dolomite's picture

What a great Saturday morning

What a great Saturday morning surprise this interview was.  Turd, you're awesome!  And Keith has my respect for NOT addressing the critic.  As a man of character and integrity, it is quite beneath him.

Thank you for the Saturday surprise, Turd.  Made my morning run go by in a blink.

Cheers all and great weekend!

Angry Chef's picture

CIA And Drug Running

The CIA have been bringing in drugs into the USA for decades. It started with Pot and then Cocaine/Heroin. Then LSD and Amphetamines. Steroids as well. Crack and Meth and now fentanyl. This is exactly how they fund there covert operations. It's goes back to the creation of the ESF back in 1934. But the original drug dealer was Queen Victoria when they invaded Hong Kong and India and got a large portion of the population hooked on Opium.

If you have not watched the Eric deCarbonnel video's that Rob Kirby often references you can watch it here. As Rob say's, shortly after producing this, Eric has not been heard from since.

*****What I have been afraid to blog about: THE ESF AND ITS HISTORY (Part 1-5)***** | Market Skeptics

Sound Money Minnow's picture

Fair enough Craig

Thank you for your response. I get it. I also appreciate your efforts and transparency.


I am also in the green on FFMGF, so I am not complaining. I just wish he had addressed it as I would have put more of my cash position in play. My biggest issue is the allegation that many of Keith's junior speculative plays have went bust. I am not sure how to research whether the Kerrisdale article is accurate on that allegation. Since that is FFMGF's business model it should be a going concern to any investor. I will do what is in my best interest and hope to get clarity from the several resources I trust. You are always trusted Craig. I personally will just cut my holdings of FFMGF to a minor speculative portion of my portfolio.

JackPutter's picture

On that drug plane

I personally use a HUGE grain of salt with the site "Before It's News".  Here's another article that has at least found signatures to compare of one of the alleged players.

New Document Provides Further Evidence That Owner of Crashed Cocaine Jet Was a U.S. Government Operative

JackPutter's picture

@ Sound Money Minnow

"Ye shall know them by their fruits."

Angry Chef's picture

Rogue Money Radio with Guest Del Bigtree

Haven't watched this yet but Del Bigtree is the producer of the Robert DeNiro documentary VAXXED.

Sound Money Minnow's picture


That is my problem. I have been a big fan of Keith for the most part. I have also made some fiat from investments in his firms. Keith has been an outspoken advocate for exposing manipulation of the metals, like Turd. I applaud them both. Yet there is so much fraud in the miners. If you are not a skeptic, you should be. So my response is "will the tree bear fruit going forward" or are you being conned? Just asking.


forever20's picture

Turd+ re 'that question'

fair enough - I'm still holding.  You have to weigh up 'character', I know which I'm picking.

forever20's picture

mike97 Auryn Resources - thanks for link...

..watched the presentation, knew his material inside out.  Very good indeed.  I bought Auryn after the A2A with Turd and glad I did even though they've pulled back from my purchase (like most everything else miners wise). Looking forward to following the firm forward.

Sound Money Minnow's picture

Dilution on FFMGF is also a concern

Remember folks, most of us don't have the capital to be on the mailing list of those who can take part in preferred stock offerings. Right now many speculative miners raise capital by offering these options to others with more resources than you. This dilutes your position and results in more outstanding shares. Who benefits? The company raising capital and those with big pockets funding the offering. This has everything to do with why FFMGF is stuck in a range. FFMGF is okay up to .80 cents, but isn't going above $1.20 anytime soon. Just check out the warrants of the big players and tell me I am wrong.


ReachWest's picture

An Emergency Podcast

In case others have not yet heard this .. here is the link to an Emergency Podcast put out late Friday by Andy Hoffman. Andy has always struck me as a very level headed fellow and certainly not one who is prone to hyperbolic commentary, so I think this is important.

It would appear that the next few days and weeks are littered with numerous financial events that could affect the system stability.

Podcast is here:

Newager23's picture

Gold Price

Turd, we are going through withdrawals without your Friday podcast, which are always my favorite.

Here's my take on last week, regarding where gold is going.

It was actually a good week, because support held at $1310. We won't start bleeding unless the 200 day moving average breaks down. Until that happens, any paper losses will quickly be re-gained after we start moving higher. The uptrend that began in January is still in effect. Until that 200 DMA (around $1237) gets taken out, we are in the drivers seat. Remember, we are in a war between $1237 and $1365. At the moment we are still winning the battles. Trust me when I say the bankers wanted to take out $1310 last week. They sold 70 tons in 1 minute, but that didn't work.

The chart below shows that we are now setup for a bounce next week. It's possible that they raise rates on the 21st, the dollar strengthens, and gold breaks down and heads toward $1237, but I don't think that will happen.

JQuest's picture

Nomi Prins: Keynote speaker who just addressed the Fed Reserve

KingWorldNews Audio Interview: 26min


Angry Chef's picture

US forces IMF to change the rules over Ukraine, setting a time..

...bomb under global financial system

US forces IMF to change the rules over Ukraine, setting a time bomb under global financial system - Fort Russ

Interesting how that lawsuit that showed up over a year ago involving Christine Lagarde and then went away is back again. Funny how that happened. Just a coincidence I guess....

canary's picture

That was also my impression...

That the cartel didn't get what they wanted....And now the Chinese are back. Perhaps little bounce on Monday...and than everybody waits for Wednesday.

Blackshook's picture

First Mining finance / Silver one concern...

Hi Turd, thanks for the interview - much appreciated. Regarding the concerns raised over the Silver one transaction this is exactly what First Mining finance should be doing - i.e purchasing assets/ mining exploration holdings cheaply and then selling them on at a profit /keeping a stake. No issue there at all - it looks like a reasonable deal on a smallish non core asset. What concerned me and I suspect other investors ( in First Mining finance)  is the Daniel A very dramatic ( yes he is a very good promoter But prone to hyperbole) statements about what a absolutely "must have" -approx  quote - "just buy this stock and thank me later" etc etc this share and opportunity is. He clearly stated - though appears to have gone quiet since - that this should be a core asset in any silver investors portfolio of stocks.. the opportunity of a lifetime etc....

Now, based on Daniel's gushing plaudits it is not surprising that investors in First mining finance are worried that a bargain / the crown jewels have been given away much too cheaply. That was my first impression. However what we have here are appear to be three fairly small exploration silver opportunities which First Majestic did not have any need for ( "if'" the opportunities had been significant we can be sure they would have held onto them... and developed them) and which they traded to First Mining finance and who traded to Silver one. Nice assets maybe (but based on the Silver One interview Not enough unless they drill and find much more reserves) but NOT this super , can not live without bargain as promoted by Daniel A. 

So where does the truth lie... is Silver one a budding major in the making and getting in here (before they actually have any significant assets... and they may get there ..) a great opportunity (though not based on these 3 small assets) OR to be blunt has Daniel A rather over promoted the case ? I suggest possibly the latter and this is what has caused the concern. There is the obvious additional concern when  'exploration' assets are seen to be traded 'incestuously ' from one company to another and then another ... all owned by the same Director, i.e Keith N.

I am not sure whether this 'clears it up' but I am still happy investing in First Mining finance and first Majestic, though this could have been handled better and I see no reason to invest in Silver one. Am I wrong and is Silver one the blockbuster we have been looking for? 

BIGNASTY's picture

Angry Chef...........................

Your ESF post reminded me I had a nagging question into De Carbonnel...............

The ESF video done by Eric De carbonnel was a fascinating watch. When I watched it this past year there was a mystery to what happened to Eric. The narrative seemed to imply his disappearance possible death after his video series came out and his blog went silent.

So I did a little digging it seems that he was being completely honest about his Vanderlip pedigree. Interestingly his sister Alyssia is a Reuters correspondent in Moscow. It seems Eric goes by Charles Eric De carbonnel and is alive and well selling insurance for New York Life in New York. Took about 45 min on the web to crack the mystery. I would guess the whole "what happened to Eric" meme got alot more attention to his work.

lakedweller2's picture

Denver Dave

Dave Kranzler took a look at Cocaine Head's analysis and said the guy is out of his element in analyzing a mining stock or intentionally did a hatchet job on AG (my words).  Denver Dave positive on AG.

Dirt_Reynolds's picture

FFMGF recent pullback

I suspect we will know the reason in the next SNB 13-F (among others.)
@Angry Chef - yeah that puppy got archived locally... pronto.


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