First Majestic Silver has no reason to exist

First Majestic Silver just announced 3Q earnings. The following part in particular is interesting.

• All-in sustaining cost ("AISC") was $19.89 per payable silver ounce, up 9% from the prior quarter. 

Why you say?

Because of this:

So technically the company has no reason to exist anymore as they sell silver at AISC mining costs, unless they're into charity.

Silver premium monitoring

I have been monitoring the Engelhard bullion price to spot silver, but I don't see any significant movement here.

So I'm going to stop monitoring this.

Chart 1: Silver Premium Engelhard bullion to spot silver

On the other hand, I'll now monitor a real dealer of silver, namely: First Majestic Silver Corp.

Figure 1: First Majestic Silver Bullion Price

Their selling price is displayed every day here. Today it stands at: $33.25/ounce. The spot price of silver is $31.22/ounce. That's a 6.5% premium.

I think this tells me more about the silver premium than the Engelhard bullion price.