First Majestic Silver Sells San Martin Mine for $90 Million

First Majestic Silver Corp. (AG) agreed to sell its San Martin Silver Mine in Jalisco, Mexico, to Flextronics Supply and Service for $90 million. The deal covers all shares of the subsidiary holding the mine and the associated Jalisco Group of Properties.

The payment structure includes an upfront cash payment of $2.5 million. The remaining $87.5 million will be paid through scheduled installments over several years, with a final $35 million payment due on August 31, 2032.

The sale is subject to customary closing conditions and Mexican Antitrust approval. First Majestic expects the deal to close in the fourth quarter of 2026. The San Martin operation, a past producer of silver and gold, has been under care and maintenance since July 2019.

First Majestic acquires, explores, develops, and produces mineral properties in North America, focusing on silver and gold deposits. The stock is unrated on AlphaScala's proprietary scoring system.