Today we spoke with Keith Neumeyer, the founder and CEO of First Majestic Silver. Keith discussed the company’s operations at Del Toro (which is about to commence production), La Guitarra (which the company acquired from Silvermex) and the recent acquisition of Orko Silver and its LA Preciosa deposit.
Regarding the metals, Keith said:
“Both Gold and Silver are setting up a very strong base here….this is the tightest trading range we’ve had in the last 10 years. When you see that occur, you are setting up for a dramatic move to the upside. We don’t when, this base could continue for months or even another year. Of course we are very profitable at current prices, with our cash costs below $10/oz but I am anticipating much higher prices, north of $50/oz in the next 12-18 months.”
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