First Majestic Silver (AG) Announces Restart Plan for Jerritt Canyon Gold Mine

First Majestic Silver announced a formal plan to restart the Jerritt Canyon gold mine in Nevada, targeting production in H2 2027 after expanding the mine’s resource base. The updated inventory includes 4.1 million oz of gold in Measured & Indicated categories and 3.7 million oz Inferred. The company has engaged Stantec for a pre-feasibility study due late 2026, committed $75 million in 2026 capital for fleet, plant upgrades and mine rehabilitation, and plans 42,000 meters of drilling next year to define open-pit and underground resources. The restart plan, backed by elevated gold prices and drilling success, could increase future gold supply and bolster miner valuations, exerting supportive pressure on gold prices and related assets.