Key Takeaways:
(P1) First Majestic Silver Corp. plans to restart its Jerritt Canyon Gold Mine in Nevada in the second half of 2027, the company announced on April 2, 2026, citing a larger mineral resource base and higher gold price forecasts.
(P2) "The decision to restart Jerritt Canyon is a result of the new expanded Mineral Resource base combined with strengthened long-term gold price assumptions and successful drilling results over the past 2 years," the company said in a statement. First Majestic has engaged Stantec Consulting Services Inc. to complete a pre-feasibility study for the mine.
(P3) The study is expected to be completed in the fourth quarter of 2026 and will provide a more detailed plan for the mine's restart. The Jerritt Canyon mine is a significant asset for First Majestic, and its restart is expected to substantially increase the company's gold production.
(P4) A successful restart of the Jerritt Canyon mine would significantly boost First Majestic's revenue and profitability, particularly if gold prices remain strong. This move signals management's confidence in the asset and the broader gold market, potentially leading to a positive investor response for the stock (NYSE: AG).
The restart plan for the Jerritt Canyon Gold Mine is underpinned by successful drilling results over the past two years, which have expanded the site's mineral resource base. While specific figures on the expanded resource were not disclosed in the announcement, the company's confidence to proceed with a pre-feasibility study suggests a material increase in reserves.
The Jerritt Canyon property has a long history of gold production, and this restart represents a significant new chapter. For comparison, other major gold mining operations in Nevada, such as Barrick Gold's Cortez and Carlin complexes, are among the largest in the world, producing millions of ounces of gold annually. The pre-feasibility study will clarify Jerritt Canyon's potential production scale in relation to these industry giants.
This article is for informational purposes only and does not constitute investment advice.
