IKN

More matter with less art

First Majestic (FR.to) (AG) files 3q13

Here’s the NR link, here’s a chart:

Revenues were strong at $76.882m, mine operating earnings also bounced back from the 2q13 lull, booked at $29.177m. Net earnings were $16.32m, which is an EPS of 14c, which is a penny off the 15c consensus but is still a decent number. Guidance is for lower costs going forward. As for the Mexico tax talk, FR.to has gone with the “Hey, let’s talk about it in 2014” strategy.

Overall verdict here: In line. However, you shouldn’t underestimate the basic fact that FR.to is a profitable silver miner, because there aren’t so many who can say that these days.

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