Mark Carruthers gave me permission to post the following explanation of the Dividend; and how to estimate the per share amount based on "Net Revenue":
Revenue is defined in note five of the MD&A (page 9). See below and attached.
Using Q3’20’s figure as an example the payout to shareholders would be approximately USD $1,258,000.00 so 1% of Q3’s net revenue. This number is then divisible by the total issued and outstanding (approximately 221,000,000). Based on Q3’s number the dividend would work out to be approximately US $0.005 per share, so roughly US $0.02 per year. Once declared the dividend would be deposited into your account by approximately mid-May. We are contemplating implementing a DRIP, if decided upon we will of course advise the market.
Though small the dividend is a start and has was definitely a priority on Keith’s list of things to do. Being based on revenues also gives shareholders further exposure to rising silver (and gold) prices.
I hope this helps. If you have any further questions please let me know.Thank you for your continued support and all the best over the holiday season. Stay safe.
When Keith Neumeyer secured the NYSE trading symbol 'AG'; he commented that "some day Silver will be on everyone's lips and anything with Silver in name will catch a bid"...
A decade later, and Keith has been serially attacked for his outspoken advocacy of Silver. If the Gamestoppers descend on Silver and choose First Majestic to squeeze; it will be sweet vindication of which on rarely enjoys...
My shares will be locked up in limit sell orders well above market today! I don't want the market marker to get its grubby hands on my shares and allow the short sellers an exit.
ASIC rose to $15.92 per ounce compared to $9.94 per ounce in the previous quarter, and that appears like a big increase; but the items they list factoring into that number include:
"Capital expenditures in the fourth quarter were $43.7 million, an increase of 24% compared to the prior quarter, primarily consisting of $14.1 million at San Dimas, $13.8 million at Santa Elena (including $6.6 million for the Ermitaño project), $3.6 million at La Encantada, $0.9 million at La Parrilla,$0.4 million at Del Toro and $11.0 million for innovation projects. "
Items highlighted in Bold are capital going into presently non producing assets. This is cash flow going into future production; and they need to do this work to sustain a ~30 million ounce production profile which is their goal over the next couple years... AG is planning major production increases coming from these operations; timed with higher Silver prices over the next few years.
It was a tough decision to close La Parrilla and Del Toro last year; but they are now investing some cash into developing the ore bodies for a planned reopening; assuming metal prices stay favorable; and the Ermitano deposit is going to transform the Santa Elana mine profitability and cash costs when it comes on line late this year. Substantial Gold credits hiding in that ore body.
First Majestic Dividend- "Net Revenues" defined
Mark Carruthers gave me permission to post the following explanation of the Dividend; and how to estimate the per share amount based on "Net Revenue":
A grain of sand in the gearbox of tyranny
Will 'AG' be visited upon by the trading hoards?
When Keith Neumeyer secured the NYSE trading symbol 'AG'; he commented that "some day Silver will be on everyone's lips and anything with Silver in name will catch a bid"...
A decade later, and Keith has been serially attacked for his outspoken advocacy of Silver. If the Gamestoppers descend on Silver and choose First Majestic to squeeze; it will be sweet vindication of which on rarely enjoys...
My shares will be locked up in limit sell orders well above market today! I don't want the market marker to get its grubby hands on my shares and allow the short sellers an exit.
A grain of sand in the gearbox of tyranny
off market sell orders
That is some great advice. Thanks for that heads-up.
I miss my old dog.
Q4 2020 notes on AISC
ASIC rose to $15.92 per ounce compared to $9.94 per ounce in the previous quarter, and that appears like a big increase; but the items they list factoring into that number include:
"Capital expenditures in the fourth quarter were $43.7 million, an increase of 24% compared to the prior quarter, primarily consisting of $14.1 million at San Dimas, $13.8 million at Santa Elena (including $6.6 million for the Ermitaño project), $3.6 million at La Encantada, $0.9 million at La Parrilla, $0.4 million at Del Toro and $11.0 million for innovation projects. "
Items highlighted in Bold are capital going into presently non producing assets. This is cash flow going into future production; and they need to do this work to sustain a ~30 million ounce production profile which is their goal over the next couple years... AG is planning major production increases coming from these operations; timed with higher Silver prices over the next few years.
It was a tough decision to close La Parrilla and Del Toro last year; but they are now investing some cash into developing the ore bodies for a planned reopening; assuming metal prices stay favorable; and the Ermitano deposit is going to transform the Santa Elana mine profitability and cash costs when it comes on line late this year. Substantial Gold credits hiding in that ore body.
A grain of sand in the gearbox of tyranny