woensdag 12 november 2014

First Majestic Silver has no reason to exist

First Majestic Silver just announced 3Q earnings. The following part in particular is interesting.
  • All-in sustaining cost ("AISC") was $19.89 per payable silver ounce, up 9% from the prior quarter. 
Why you say?

Because of this:

So technically the company has no reason to exist anymore as they sell silver at AISC mining costs, unless they're into charity.

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