First Majestic starts selling bullion at Nevada mint facility

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First Majestic Silver Corp. is pleased to announce the completed commissioning and commencement of bullion sales from its 100% owned and operated minting facility, First Mint, LLC ("First Mint"). Located in the State of Nevada, United States, First Mint vertically integrates a manufacturing plant for investment-grade fine silver bullion into the First Majestic portfolio.

In line with First Majestic's commitment to environmental and community stewardship, First Mint operates state-of-the-art machines that require less electricity and do not release gas emissions compared to traditional minting processes. The eco-friendly and high efficiency production line allows the mint to produce over 10% of the Company's current silver production coming from the Mexican operations. Plans are currently underway to expand the operation by adding additional equipment and personnel as required.

The inaugural production run of bullion bars will be commemorated and sold as collectibles, complete with certificates of authenticity and exclusive packaging. These limited edition "First Strike" products will include 1,000 one-kilogram bars, 2,500 ten-ounce bars, and 5,000 five-ounce bars. As production ramps up, investors can expect the mint to provide a steady supply of cast bars and one-ounce silver rounds, with additional capacity to service third party projects. Additionally, First Majestic products will remain available for sale alongside First Mint branded items. Investors are encouraged to visit www.firstmint.com to enjoy a refreshed and streamlined shopping experience.

The mint is currently seeking ISO 9001 certification, allowing for its silver to be Individual Retirement Account ("IRA") eligible. Along with this certification comes a quality commitment: First Mint will fully guarantee the weight, purity, and content of its bullion products.
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First Majestic Silver Corp. - There's no substitute for silver - News: First Majestic Announces Commencement of Bullion Sales from First Mint

Welcome First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral…

www.firstmajestic.com

FIRST MINT - YOUR SOURCE FOR INVESTMENT GRADE SILVER BULLION

FIRST MAJESTIC’S VERY OWN BULLION MANUFACTURING AND DISTRIBUTION FACILITY – FIRST MINT. Our beautiful but affordable silver investment products include 1 oz rounds, and 5 oz, 10 oz, and kilo bars. All orders ship securely from our new facility in Las Vegas, Nevada, USA.

firstmint.com

 

[Peter89]

So, instead of selling their silver under spot to the bullion banks they sell it over spot to the market.
Keith N. genius

 

[pmbug]

It's a wonder that they (ie. all the miners) haven't started doing this a long time ago. I have to wonder if these first edition mintings might one day have some historical value should this "minor mint" lead to a revolution in the industry neutering the futures market's grasp on the metals.

 

[Voodoo]

It's not the best looking stuff. But the Real potential advantage here is Vertical integration. They can Undercut everyone else's prices. And they need to price it with less or no premium unless they start selling too much.

 

[Voodoo]

And it looks like they are not doing that. Apmex still selling a few products cheaper than theirs. They need to undercut premiums if they want to move a Lot of product.

 

[nickndfl]

They should put in a drive-thru window.

 

[Peter89]

And it looks like they are not doing that. Apmex still selling a few products cheaper than theirs. They need to undercut premiums if they want to move a Lot of product.

They are not bullion dealers so they cannot compete with bullion dealers. They will always sell more expensive. Maybe it depends on the fact that AFA I understand it they don't have a refinery but only a mint. Total vertical integration needs a refinery.

I wish they would start selling 1k oz industrial ingots to those European refineries that according to A. Maguire cannot find raw material.

 

[Voodoo]

They are not bullion dealers so they cannot compete with bullion dealers. They will always sell more expensive. Maybe it depends on the fact that AFA I understand it they don't have a refinery but only a mint. Total vertical integration needs a refinery.

I wish they would start selling 1k oz industrial ingots to those European refineries that according to A. Maguire cannot find raw material.

Grr, you are correct. Refining is not that freaking hard. Get together with someone and buy up a refinery.

 

[Peter89]

Grr, you are correct. Refining is not that freaking hard. Get together with someone and buy up a refinery.

I think in a normal world mining companies wouldn't sell coins. They wouldn't refine, they wouldn't mint, they would just mine.
A vertical integration is no more a mining company, if they want to do it properly it's another line of business.
I think First M. foresee that demand of bullion is going to increase so much - with shortages and premium etc. - that it will make this business profitable anyway.

 

[pmbug]

They are just starting up a new Mint. I imagine thay have some capital expenses they need to recoup. I would expect that over time those expenses roll off the books and they will be able to lower their premiums.