FIRST MAJESTIC SILVER CORP - EX-99.1 (2026-10-08)
Original announcement by sec_edgar on
- Company
- First Majestic Silver Corp.
- Ticker
- AG
- Exchange
- NYSE
- Region
- Mexico
- Primary commodity
- Silver
- Secondary commodities
- Gold, Zinc, Lead, Copper
- Document categories
- Production, Metallurgy
- Extracted
- 2026-10-08 11:26:18 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
First Majestic Silver Corp. reported Q3 2026 production results, noting a decline in silver and gold output compared to the previous year. The lower production was largely driven by a labour dispute at the San Dimas mine, though La Encantada saw significant growth.
Reasoning: The report shows a decline in consolidated silver and gold production, primarily due to labour disruptions at San Dimas, despite strong performance at La Encantada.
Positive factors
- La Encantada production increased 68% YoY
- Santa Elena mill throughput and recoveries improved
- Jerritt Canyon restart progressing ahead of plan
Negative factors
- Labour dispute at San Dimas impacted production and grades
- Total silver production reached only 72% of guidance midpoint
- Overall gold and silver production down YoY
Facts used in scoring: 8
Classification and evidence
Production Declinenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: Silver production reached only 72% of guidance midpoint and gold production was down 17% YoY.
Evidence · text
“Silver Production (72% of guidance midpoint)”
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 4 distinct composites were tested
Extracted facts
Stored fact records: 8. Some facts used in scoring do not have a stored record.
Metallurgical Results (8)
Fact 1Los Gatos · silverRecovery: 86 %View all detailsHide details
Identity
- Project
- Los Gatos
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- Los Gatos (100%)
Recovery
- Recovery
- 86 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Standard recovery for the site.
Evidence · table
“86%”
Context: 323,841
Fact 2Los Gatos · goldRecovery: 48 %View all detailsHide details
Identity
- Project
- Los Gatos
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- Los Gatos (100%)
Recovery
- Recovery
- 48 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Standard recovery for the site.
Evidence · table
“48%”
Context: 323,841
Tags used in scoring
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 48% is below the weak band (80%)
Fact 3Santa Elena · silverRecovery: 69 %View all detailsHide details
Identity
- Project
- Santa Elena
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- Santa Elena
Recovery
- Recovery
- 69 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Recovery improved year-over-year.
Positive factors
- Improved from 65% in prior year
Evidence · table
“69%”
Context: 286,382
Tags used in scoring
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 69% is below the weak band (75%)
Fact 4Santa Elena · goldRecovery: 94 %View all detailsHide details
Identity
- Project
- Santa Elena
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- Santa Elena
Recovery
- Recovery
- 94 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Recovery improved year-over-year.
Positive factors
- Improved from 92% in prior year
Evidence · table
“94%”
Context: 286,382
Fact 5San Dimas · silverRecovery: 88 %View all detailsHide details
Identity
- Project
- San Dimas
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- San Dimas
Recovery
- Recovery
- 88 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Consistent with prior year.
Evidence · table
“88%”
Context: 229,188
Fact 6San Dimas · goldRecovery: 93 %View all detailsHide details
Identity
- Project
- San Dimas
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- San Dimas
Recovery
- Recovery
- 93 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Consistent with prior year.
Evidence · table
“93%”
Context: 229,188
Fact 7La Encantada · silverRecovery: 66 %View all detailsHide details
Identity
- Project
- La Encantada
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- La Encantada
Recovery
- Recovery
- 66 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Consistent with prior year.
Evidence · table
“66%”
Context: 346,449
Tags used in scoring
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 66% is below the weak band (75%)
Fact 8La Encantada · goldRecovery: 90 %View all detailsHide details
Identity
- Project
- La Encantada
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- AG
Test Work
- Sample
- La Encantada
Recovery
- Recovery
- 90 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Standard recovery for the site.
Evidence · table
“90%”
Context: 346,449
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.