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10/15/14

Your latest precious metals producer misses: First Majestic $AG (FR.to) and Argonaut (AR.to)

First Majestic (from yesterday):

Excuses included re-synching material at La Encantada (which looks for all the world like reprocessing more tailings again, what with the recovery drop) and...errr...other stuff. Crappy quarter.

Argonaut (from this morning):

At first eyeglance it doesn't seem too bad, but this was supposed to be the quarter when AR.to had worked through its glitches and returned a strong production number. didn't happen folks, and as a result they've dropped 2014 guidance from 135k-150k to 130k-135k. Let's all have a good laugh when they claim to have "met guidance" in 2 1/2 months' time.