Fridays 'The Room" from Casey had the following teaser about a visit to an unamed Mexican silver mine. Is it First Majestic?

Notes from the Field

Although he was just back from a trip to Colombia, Louis James hopped on a plane again this week to go down to Mexico and check out Mexican silver properties there. Louis just sent along preliminary notes from his visit.

I'm several kilometers into a mountainside in northern Mexico, with maybe a half a kilometer of rock over my head.

I've just pulled a few grams of native silver out of a tunnel wall. This stuff is currently going right through the old mill and out to the tailings pond. Management is building a new circuit to capture it (and plans to reprocess old tailings). The regular ore is high-grade oxides – I just hammered a sample from another vein that grades 28 kilos of silver per tonne, so they aren't wasting time on current works, but I'm glad to see that they'll be getting the silver metal soon as well.

A post-market-meltdown revised construction plan is going well, but the company's financials have been shaky, so the market seems to be in a "show me, don't tell me" mode.

From my inspection, I think the company will deliver the core functions of the new plant within a couple months, which should greatly increase the profitability of the operation. That's very good, because this mine has more high-grade ore (300-400 g/t silver) under development for near-term production than I expected.

Not all the company's projects have this much potential to add to the company's bottom line so soon, but I'm feeling much better about our investment. I'll have more details on the company in the next issue of the International Speculator.