Thursday, April 22, 2010

First Majestic (FR.to): This deserves a shout-out


Today's news release from First Majestic Silver (FR.to) is worthy of a bit of extra airtime. This humble scribe watches FR.to but doesn't currently own or cover as a recommended buy, but that might have to change soon. Check out the contents of the NR:

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 04/22/10) - FIRST MAJESTIC SILVER CORP. (TSX:FR - News)(OTCQX: FRMSF)(Frankfurt:FMV - News)(WKN: A0LHKJ) ("First Majestic" or the "Company") is pleased to announce that the Centro Mexicano para la Filantropia (CEMEFI) has once again awarded First Majestic the "Socially Responsible Business Distinction" award for 2010 (Distintivo Empresa Socialmente Responsable 2010).

This important recognition marks the second consecutive year that First Majestic has received this annual award of distinction. This award is another indication of the Company's commitment to social responsibility and was granted to First Majestic for its many continuous programs in place in the areas of responsibility, transparency and sustainability within its Mexican operations.

The Company accomplished this distinction due to the following relevant activities in which the Company excelled over the past year:


-- Corporate Governance and Ethical practices,
-- Quality of work within the Company,
-- Relationships with the communities in which the Company operates, and
-- Sustainability, Preservation and Stewardship of the environment.

Mr. Neumeyer, President & CEO stated; "Management at First Majestic feels strongly that being socially responsible sets the foundation for high values and principles within the Company and supports the mission of growth in a sustainable way, taking care of the Company's most valuable assets, our people and the communities in which we work." CONTINUES HERE


This kind of thing is important. It's also good to see the company is proud about winning this award (two years running, too) and ready to puff out its chest, showing it off to its shareholders and to the general public. We've noted already that the FR.to share price hasn't been performing as well as sector peers so far in 2010. Let's hope that going forward the FR.to social attitude is valued by the market and the company gets a lift from doing things the right way.

At IKN we call out the bad players, but equal pleasure is taken by applauding the good guys of mining.

Kudos to First Majestic Silver (FR.to).

Disclosure: no position.