Recorded on July 8 2026 live at the Rick Rule Symposium
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First Majestic Silver Corp. President and Chief Corporate Development Officer Mani Alkhafaji joins Steve Yang to discuss the company’s silver exposure, operating portfolio and growth strategy. Alkhafaji explains why First Majestic remains focused on primary silver production and how silver prices can create operating leverage across the business. The interview covers the integration and expansion of Los Gatos, the planned restart of the Jerritt Canyon Gold Mine and the role gold plays in balancing revenue. They also examine First Mint, vertical integration and the additional margin available when mined silver is converted into retail bullion products. Further discussion includes exploration at Santa Elena, resource conversion, drilling across the portfolio and mill expansion plans. Like, subscribe, and ring the bell for more mining-company interviews and natural-resource market analysis. #Millettian
Key topics
First Majestic’s primary silver strategy
Silver-price leverage and cash flow
Los Gatos integration and expansion
Jerritt Canyon restart planning
Gold exposure and revenue stability
First Mint and vertical integration
Exploration at Santa Elena
Drilling and resource conversion
Mill and production expansion
First Majestic Silver Corp.
Website
https://www.firstmajestic.com/
Investor information
https://www.firstmajestic.com/investors/
Stock information
https://www.firstmajestic.com/investors/stock-information/
Host Steve Yang
Natural Resource Stocks
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Chapters
00:00 Silver leverage cold open 00:56 Introduction at the Rick Rule Symposium 01:34 Mani Alkhafaji’s role at First Majestic 02:38 First Majestic’s silver focus 03:44 First Mint and Jerritt Canyon 04:15 Why Jerritt Canyon was shut down 04:59 The Jerritt Canyon restart strategy 05:56 What makes a true silver company 06:30 Silver revenue and operating leverage 08:09 Balancing silver volatility with gold 09:28 How First Mint captures extra margin 10:43 Exploration and reinvestment 11:25 Drilling and resource conversion 12:16 Expanding Santa Elena and Los Gatos 12:40 How to follow First Majestic 13:14 Stock listings
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