“Any time you have a small group of people fixing a price, it’s prone to manipulation. There’s no change from how it was done before to the way it’s done now – it’s just a different group of players and now they do it on a computer.” – Keith Neumeyer, CEO First Majestic
In a bid to heighten transparency, the mining and silver industries have taken steps towards improvement for investors, but First Majestic Silver Corp.’s Keith Neumeyer isn’t buying into it.
Speaking with Kitco News at the 25th Denver Gold Forum, Neumeyer, president and chief executive officer of First Majestic, doesn’t see an improvement.
“Any transparency is healthy and the mining industry needs to put out numbers that make sense to the market,” he said. “Adversely, all-in sustaining cash costs don’t make sense to the market.
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