Alex Tarantino

Alex Tarantino from National Bank of Canada asked about First Majestic Silver's capital allocation strategy for its growing cash reserves, considering potential additional capital returns to investors and an update on the Jerritt Canyon asset. He also sought clarification on how the realized silver price of $59, higher than the average market price, is calculated, specifically regarding provisional pricing settlements and timing of sales.

Answer

CEO Keith Neumeyer stated that capital allocation is influenced by a pending tax issue, but options like share buybacks are considered, and the dividend was recently increased. He also mentioned upcoming news on Jerritt Canyon within the next couple of months. President and Chief Corporate Development Officer Mani Alkhafaji clarified that the higher realized silver price is partly due to concentrate sales and the First Mint operation, which recognized an average price of $69 and accounted for about 12% of Q4 Doré production.