First Majestic Silver No Longer Competing for Orko Silver

Reuters reported that First Majestic Silver has announced that they will not match an rival offer made by Coeur d’Alene Mines for Orko Silver.

As quoted in the market report:

By increasing the offer beyond our previous bid, the economics of the La Preciosa project drop below our minimum requirements for a rate of return and financial payback to our shareholders,” First Majestic Chief executive Keith Neumeyer said.

To view the whole Reuters report, click here.