Mineweb reported that First Majestic’s $400 million takeover of Orko Silver was essential, according to First Majestic’s CEO.

As quoted in the market report:

It is a deal that follows the breakup of a partnership between Orko Silver and Pan American Silver earlier this year when the latter chose not to exercise a 55-percent earn in and one that Keith Neumeyer, First Majestic president and CEO, called “almost a must for us” in a conference call with analysts on Monday morning. He noted First Majestic has been “monitoring” Orko Silver for a number of years, even prior to “Pan American days.

To view the whole Mineweb report, click here.