View Full Version : First Majestic Silver Markets Bullion Coins, Bars, etc

18th November 2008, 17:28
from www.resourceinvestor.com/pebble.asp?relid=47994

Some companies get it right

For example, some companies have begun bypassing the futures markets by directly producing and selling bullion items to the public. In a November 14 press release, First Majestic Silver Corp. [FR.TO] said:

“The Company is continuing to analyze various options to reduce its operating costs and to squeeze out the most optimum margins possible. One example which is proving to add substantial value is management decided to mint 99.9% pure silver into coins, ingots and bars which are actively marketed on the Company's web site. Interest levels for these products are extremely high and are beginning to represent substantial revenues for the Company. These products tend to sell at substantial premiums to COMEX spot prices. It is anticipated that these sales of refined silver products will represent approximately 10% of the Company's silver production by February 2009. The Company is also exploring other ways of selling its silver outside of the normal avenues of commercial sales.”

Bully for First Majstic. It’s about time we see a company take the bull by the horns to step outside the corrupt, and manipulated established market that has so mispriced a vital commodity. With such a huge disparity between the futures-dominated spot price and the real physical silver markets, it is no wonder that physical silver is flying out the COMEX doors and into the physical market.

That’s something we need to see more of. Companies refusing to accept overly low pricing by paper traders. We need to see more of the Big Dogs in the metals biz holding back production, buying metal off the miscreant futures markets to deliver into December commitments in large quantities and removing metal from those who don’t respect it in favor of the popular physical markets where people do respect it.

One more time, if the hedger and short seller dominated futures markets are so intent on driving prices for metals to absurdly low levels then they shouldn’t mind seeing the metal in their warehouses heading out the door to the physical markets that actually want it.

18th November 2008, 17:30

You want to show them how much you approve of what they're doing here?? PLACE AN ORDER!!! They are worthy of our support!! And if they're out, check back often as I'm sure they recognize OPPORTUNITY when they see it and won't be out long. After all, they ARE the MINING COMPANY and apparently have LOTS of silver. Once this thing is ramped up and running, I don't see any shortages here. :)

18th November 2008, 17:54
Here's a pic of their various sized rounds...

18th November 2008, 19:44
Not bad. Except their pricing is $14/oz plus $1 per 1 oz coin. That's not that cheap compared to ebay (I can get US Silver eagles for that price or Engelhard rounds).

I totally support their idea if they drop their premiums to a competitive price. I hope they do.

18th November 2008, 20:42
That $15 price is for the posher "Proof" version IIUC. What were they charging for the sold out "Business Strike", which I assume means bullion quality?