Sunday, March 25, 2018

Cyanide spill in Mexico traced to Primero/First Majestic Silver Corp.

Two hundred liters of cyanide solution are polluting the waters of Mexico's Piaxtla River in San Dimas, Durango. where Canadian Primero Mining Corporation operates. Federal environmental experts determined a concentrated amount of roughly 100 to 180 mg of Cyanide spilled into the water source and traveled some 250 meters downstream, seeping into the Piaxtla riverbed.
"Primero Mining Corp. and First Majestic Silver Corp. are pleased to announce that Primero's shareholders have voted in favour of the arrangement transaction at a special meeting of shareholders held earlier today. In addition, holders of Primero's 5.75% convertible unsecured subordinated debentures due February 28, 2020 have, at their meeting today, also voted overwhelmingly in favour of the proposed amendment of the trust indenture to accelerate the maturity date of the debentures to the next Business Day following the effective date of the Transaction. The Transaction, whereby First Majestic will, among other matters, acquire all of the outstanding common shares of Primero, was approved by more than 99% of votes cast by Primero shareholders."
First Majestic Silver Corp - FR.t is focused on silver production in Mexico. The Company owns and operates six producing silver mines; the La Parrilla, San Martin, La Encantada, La Guitarra, Del Toro, and the Santa Elena Silver Mine.

Production in 2016 was 18.7 million eq/Ag, consisting of 11.9 million ounces of silver, 62,436 ounces of gold, 33.2 million pounds of lead and 10.6 million pounds of zinc.