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.

Silver juniors update

Here's a chart showing the year-to-date performance of Fortuna Silver (FVI.v), First Majestic (FR.to), MAG Silver (MAG.to) and ECU Silver (ECU.to).

• The good news is that Otto has been telling you to buy FVI.v all year (as well as telling you to avoid MAG.to and ECU.to like the plague, with "not like so good" mentions of FR.to along the way, too).

• The better news is that people are actually beginning to believe me on this one. Y'see, I really wasn't joking, was I?

• The best news is that (as IKN Weekly subscribers now know after last week's edition) there's plenty more upside left in FVI.v and we now have a new, improved price target.

Stop buying dogs and get wise on LatAm junior miners. Subscribe to The IKN Weekly. End of blatant promo. Have....Nice....Day.

Not all silver miners are the same

Check out this peer group of Fortuna Silver (FVI.v), Endeavour Silver (EDR.to), Great Panther Resources (GPR.to) and First Majestic Silver (FR.to). All junior scale producing silver miners. Note how one company stands head and shoulders above the rest in the last five days.

That's basically because;

1) it doesn't screw its shareholders around
2) it has strong financials
3) it will still be financially rock solid if silver drops to $10
4) it has honest management that cares about its workers and the nowadays all-important social and environmental angles

And that's why I have liked, like and will like Fortuna Silver (FVI.v). Those who bought the NOBS report will know that i'm looking for a lower price to buy back in, but if that lower price doesn't materialize I won't be surprised. Cream rises, you see.

If you'd like to find out the details of FVI.v, its fundamental strengths and my proposed trading range in the short term please consider investing U$10 in the report. The details are here. You buy a copy and we both benefit, as there is plenty of money on the table for those interested in trading this stock.

Not all silver miners are the same, so buy yourself a good one.