First Majestic Silver Corp. is planning for a major expansion. Keith Neumeyer, president and CEO of Vancouver-based First Majestic Silver Corp. is going to make the announcement at the company's La Encantada silver mine in Coahuila, Mexico. In recent times, the price of silver has improved significantly to about $17.

The news release is quoted as saying:

In April 2008, silver was at a high-flying $21 per ounce and the company had one of the largest drilling programs of any Canadian mining company active in Mexico, according to Neumeyer.

Click here to access the entire news release ^[1]